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Thread: credit card

  1. #1
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    credit card

    Guys, how come you don't take Amex any more?
    Do I have to go to Wholesale Sports now?

  2. #2
    CGN Ultra frequent flyer Daver_II's Avatar
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    Who still uses an Amex?

  3. #3
    CGN frequent flyer THE_SASQUATCH's Avatar
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    Quote Originally Posted by Daver_II View Post
    Who still uses an Amex?
    zing!

  4. #4
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    Beat me to it..

    I think it really has fallen out of favour even in buisness circles where they used to be dominant

  5. #5
    CGN Regular Triq's Avatar
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    Plus I believe they charged the most to the merchant.

    “Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.”
    ― Albert Einstein

  6. #6
    CGN frequent flyer Rivalen's Avatar
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    Quote Originally Posted by Triq View Post
    Plus I believe they charged the most to the merchant.
    They do and also since Costco dropped them, imo their membership will go down significantly!
    SIGs and GLOCKs, yes please!

  7. #7
    CGN Ultra frequent flyer sailor723's Avatar
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    I use my Amex for everything I can to maximize my points (gas, groceries etc etc). If it came comes to a store that takes Amex and one that doesn't (everything else being equal) I shop at the Amex friendly store
    Fan of Browning Hi-Powers and both S&W and Colt revolvers

  8. #8
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    Amex charges higher usage fees that just about every other card company.

    The typical Master Card/Visa providers charge the vendor 2.5% of the transaction.

    Some of the ones that give you special points/bonus stuff (airmiles or the like) can run upwards of 4%.

    Amex has always been higher and at least at one time they didn't pay the retailer until they received payment (on their cards where the whole balance had to be paid off monthly).

    So when you are trying to stay "competitive" you have probably built in 2.5% to your selling price to cover "transaction fees", much more than that and you may not be making enough to make the deal worthwhile.

    Big box stores can "eat" that cost because overall it averages out (debit has uber cheap "fixed" transaction fees) but if you have to give a card company 5% of a 2K purchase that may have been your whole "margin" if you are a smaller operation that operates almost exclusively on credit card sales.

    (our "transaction fees" for fiscal 2014 topped 75K - ya, 75,000 bucks just for taking plastic - you know our customers had that added in to the cost)

  9. #9
    Member johann_seb's Avatar
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    I have an Amex savings account. The upside is that they need a blood sample to access it or change the autodebit. You wouldn't believe how easy it is to save when you're not allowed to withdraw.

  10. #10
    CGN Ultra frequent flyer Pure Energy's Avatar
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    Quote Originally Posted by Warbird_2006 View Post
    Guys, how come you don't take Amex any more?
    Do I have to go to Wholesale Sports now?
    Because amex rapes the vendor. We do not take amex either at our shop.

    Quote Originally Posted by Proutfoo
    having your picture in the paper with a medal around your neck holding a folding stock, pistol-gripped, shotgun with mag extension is a feat in itself

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