American Express

[dagui00]

hi all
just curious is all, i have travelled all over the world for busines and pleasure, and have never found an area that is so addimately opposed to accepting the American Express Card , im just curious more than anything, is there a specific reason that drives this attitude or position ?
thanks
dan

[TOOBER_SDQ]

Originally Posted by dagui00

hi all
just curious is all, i have travelled all over the world for busines and pleasure, and have never found an area that is so addimately opposed to accepting the American Express Card , im just curious more than anything, is there a specific reason that drives this attitude or position ?
thanks
dan

I think it is because AMEX charges the vendor a percentage of the sale. There may be a vendor on this board that can shed more light on the subject.

[AlterEgo]

I accept credit cards at my business, but not AMEX because their percentage is so much more than Visa/MC/Discover. Every so often someone gripes. Vendors have to pay a percentage of ALL credit and debit card transactions, plus a per transaction fee. Rates vary by card type and by the company or bank your machine runs through.

[boca chica dave]

I was told quite a while ago the retailer had to wait 90 days for payment versus 30 for visa and mastercard. Its really best to get cash at an atm and cheaper. I think the credit cards may charge 3% to you when abroad.

[Hillbilly]

There is only one bank (Progreso) that issues AmEx cards, and they are slow and expensive. this is what I have been told...

HB

[Dafishguy]

When I took credit cards in my business, Visa and Mastercard deposited the sale funds into my account the very next day once I closed out the machine. Amex took at least 30 days and sometimes 45 days before they also deposited the money into my account. Visa and MC charged me 1.5% of the sale where as Amex charged me 5% with a minimum charge of $15.00. Visa and MC had no minimum charge. I tried to take Amex as little as possible because of this.

[bachata]

Originally Posted by dagui00

hi all
just curious is all, i have travelled all over the world for busines and pleasure, and have never found an area that is so addimately opposed to accepting the American Express Card , im just curious more than anything, is there a specific reason that drives this attitude or position ?
thanks
dan

Are you talking about the US? Yes I have problem to pay any where I go, I remember was trying to pay with my American Express in a Chinese restaurant and the cashier told me we take credit card but no that one. I was lucky to have a twenty Dollars note in my wallet after I got a Visa Credit card and I don’t use the American Express any more.

JJ

[bearcat]

American Express takes 30 days to pay the merchant. Visa and MC two days. That is why no one takes it.

[TOOBER_SDQ]

I am sure to catch some heat for this......

AMEX Cardholders are for the most part a "higher-end" customer, with higher limits and a tendency to purchase more.

Some businesses benefit from having this type of customer profile, and the 5% per transaction is viewed as a trade off.

I only use AMEX. If the vendor does not accept the card, well than the vendor loses the entire sale and my future business.

I am not sure about the math invloved, but for a vendor, I think some sale is better than no sale. A vendor should be happy with 95% of a sale, instead of 0%.

But I came very close to failing Economics in school....

[mountainannie]

Originally Posted by TOOBER_SDQ

I am sure to catch some heat for this......

AMEX Cardholders are for the most part a "higher-end" customer, with higher limits and a tendency to purchase more.

Some businesses benefit from having this type of customer profile, and the 5% per transaction is viewed as a trade off.

I only use AMEX. If the vendor does not accept the card, well than the vendor loses the entire sale and my future business.

I am not sure about the math invloved, but for a vendor, I think some sale is better than no sale. A vendor should be happy with 95% of a sale, instead of 0%.

But I came very close to failing Economics in school....

I too, use Amex as my only "credit" card. Their customer service is fantastic as they offer a complete satisfaction with every purchase - you have a problem with a charge, a dispute with a store, AMEX will put the charge on hold and go to bat for you with the vendor.

I get double travel rewards points for every dollar I purchase. I now have almost a round the world ticket. When I lived in the States, I bought everything on it - Gas, groceries,pharmacy . They give a categorized year end statement so that I can, indeed, see where the money goes.

I never have to worry if I am up against a credit ceiling. They have a "sign and travel" feature which turns it essentially into a credit card, if you have to use it like that. I always feel safe when I have it since I can get it replaced anywhere in the world.

I do not worry that my card will be stolen or used somewhere else --- just does not seem to ever happen. I used my VISA debt card here once and it turned up being used in the Ukraine-- my bank stopped the use of the card, would not deal with me on it over email, and I had to wait til I traveled back to the States to get a new card. YIKES-- that card NEVER comes out again here!!

I never buy the extra car insurance since my AMEX card covers it.

I just have the simple green one since the upgrades never seemed worth it to me.

So I am with you, Toober, AMEX is my card. And I am happy to pay their annual fee for the use of it. Smart vendors would do likewise.