First Costco , now jet blue ! Should we ditch amex?!

[Anonymous]

I'm sure a lot of barclays US Air cardholders will want to PC to a jetblue card So no biggie on that part im just quite dissapointed ! Amex they have backdating , purchase protection etc. but not everyone wants or needs more than 1 amex card so the backdating becomes useless ! Purchase protection !? I give them that ! But visa sig and WMC offer similar benefits!  Chase is a good bank , I do all my banking at chase and have 4 of their cards ! , but a lot of us myfico members don't make 6 figures ! So amex limiting to just certain stores and retailers is kind of dumb ! On the other hand someone making north of 50k is less likely to step foot into dollar general (they recently started accepting amex ) ! You don't know how embarrassed I got when I tried to pay for a date with my fiancé and pulled out my "trusty" amex to hear that they don't accept amex for s second I thought my card was getting declined my girl even gave me a weird look  , I used my discover it instead ! 

[NRB525]

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@Anonymous wrote:

I'm sure a lot of barclays US Air cardholders will want to PC to a jetblue card So no biggie on that part im just quite dissapointed ! Amex they have backdating , purchase protection etc. but not everyone wants or needs more than 1 amex card so the backdating becomes useless ! Purchase protection !? I give them that ! But visa sig and WMC offer similar benefits!  Chase is a good bank , I do all my banking at chase and have 4 of their cards ! , but a lot of us myfico members don't make 6 figures ! So amex limiting to just certain stores and retailers is kind of dumb ! On the other hand someone making north of 50k is less likely to step foot into dollar general (they recently started accepting amex ) ! You don't know how embarrassed I got when I tried to pay for a date with my fiancé and pulled out my "trusty" amex to hear that they don't accept amex for s second I thought my card was getting declined my girl even gave me a weird look  , I used my discover it instead ! 

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Barclays US Air cards should find their way into the American Airlines family. I'm not sure why a US Air frequent flier would want to pull up stakes and shift to Jet Blue.

Yes, AMEX is not for everyone. It is for some people though, just like there is a market for expensive cars.

[nyancat]

I'd sooner ditch Costco than Amex. Amex is really increasing their acceptance with small businesses a LOT lately, and in the UK acceptance is skyrocketing (because customers demand it - the rewards are way better due to interchange caps on Visa/MC - and for small business Amex can even be CHEAPER to take than Visa/MC). Costco is a setback, for sure, but my understanding is their terms were rather unreasonable.

[SunriseEarth]

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@nyancat wrote:

I'd sooner ditch Costco than Amex. Amex is really increasing their acceptance with small businesses a LOT lately, and in the UK acceptance is skyrocketing (because customers demand it - the rewards are way better due to interchange caps on Visa/MC - and for small business Amex can even be CHEAPER to take than Visa/MC). Costco is a setback, for sure, but my understanding is their terms were rather unreasonable.

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I'm in the same boat.   I joined Costco for the specific purpose of getting a TE.   Without that, Sam's Club and their MC is looking appealing.  

Hopefully, AMEX retains the Costco portfolio and offers a new product.   if not, I'll probably just move my CL over to BCE next year

[JoshuaHolySpirit]

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@nyancat wrote:

I'd sooner ditch Costco than Amex. Amex is really increasing their acceptance with small businesses a LOT lately, and in the UK acceptance is skyrocketing (because customers demand it - the rewards are way better due to interchange caps on Visa/MC - and for small business Amex can even be CHEAPER to take than Visa/MC). Costco is a setback, for sure, but my understanding is their terms were rather unreasonable.

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Yeah-!! AMEX is still good around the world.

I am using my AMEX in Malaysia and it works like a breeze....

[nyancat]

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@SunriseEarth wrote:

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@nyancat wrote:

I'd sooner ditch Costco than Amex. Amex is really increasing their acceptance with small businesses a LOT lately, and in the UK acceptance is skyrocketing (because customers demand it - the rewards are way better due to interchange caps on Visa/MC - and for small business Amex can even be CHEAPER to take than Visa/MC). Costco is a setback, for sure, but my understanding is their terms were rather unreasonable.

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I'm in the same boat.   I joined Costco for the specific purpose of getting a TE.   Without that, Sam's Club and their MC is looking appealing.  

Hopefully, AMEX retains the Costco portfolio and offers a new product.   if not, I'll probably just move my CL over to BCE next year

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Costco will probably become a Mastercard, as Mastercard seems to be the master of retailer relationships like this recently. It would be a huge win for Mastercard, which is rather unpopular in the US compared to other countries. You hear about Discover fighting for this, but I can't imagine it not going to Mastercard. I'd imagine they're likely to also accept contactless as part of the agreement, Costco's terminals support contactless it's just disabled and they are not part of MCX (the anti-contactless merchant coalition). Result? Mastercard exclusive, MAJOR win for Mastercard. Possible wins for Chip and PIN and contactless (most likely contactless), two things Mastercard is promoting (more contactless, but they're not anti-PIN like Visa is). 

[chwebb1]

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@nyancat wrote:

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@SunriseEarth wrote:

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@nyancat wrote:

I'd sooner ditch Costco than Amex. Amex is really increasing their acceptance with small businesses a LOT lately, and in the UK acceptance is skyrocketing (because customers demand it - the rewards are way better due to interchange caps on Visa/MC - and for small business Amex can even be CHEAPER to take than Visa/MC). Costco is a setback, for sure, but my understanding is their terms were rather unreasonable.

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I'm in the same boat.   I joined Costco for the specific purpose of getting a TE.   Without that, Sam's Club and their MC is looking appealing.  

Hopefully, AMEX retains the Costco portfolio and offers a new product.   if not, I'll probably just move my CL over to BCE next year

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Costco will probably become a Mastercard, as Mastercard seems to be the master of retailer relationships like this recently. It would be a huge win for Mastercard, which is rather unpopular in the US compared to other countries. You hear about Discover fighting for this, but I can't imagine it not going to Mastercard. I'd imagine they're likely to also accept contactless as part of the agreement, Costco's terminals support contactless it's just disabled and they are not part of MCX (the anti-contactless merchant coalition). Result? Mastercard exclusive, MAJOR win for Mastercard. Possible wins for Chip and PIN and contactless (most likely contactless), two things Mastercard is promoting (more contactless, but they're not anti-PIN like Visa is). 

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Is MasterCard really that unpopular in the US? Because I personally have 4 MC credit cards in my wallet: both of my Barclaycards, my BoA BBR and my Citi DoubleCash. I only have one Visa credit card currently, my BoA Cash Rewards. I figured they were around equal in popularity?

[nyancat]

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@chwebb1 wrote:

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@nyancat wrote:

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@SunriseEarth wrote:

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@nyancat wrote:

I'd sooner ditch Costco than Amex. Amex is really increasing their acceptance with small businesses a LOT lately, and in the UK acceptance is skyrocketing (because customers demand it - the rewards are way better due to interchange caps on Visa/MC - and for small business Amex can even be CHEAPER to take than Visa/MC). Costco is a setback, for sure, but my understanding is their terms were rather unreasonable.

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I'm in the same boat.   I joined Costco for the specific purpose of getting a TE.   Without that, Sam's Club and their MC is looking appealing.  

Hopefully, AMEX retains the Costco portfolio and offers a new product.   if not, I'll probably just move my CL over to BCE next year

---

Costco will probably become a Mastercard, as Mastercard seems to be the master of retailer relationships like this recently. It would be a huge win for Mastercard, which is rather unpopular in the US compared to other countries. You hear about Discover fighting for this, but I can't imagine it not going to Mastercard. I'd imagine they're likely to also accept contactless as part of the agreement, Costco's terminals support contactless it's just disabled and they are not part of MCX (the anti-contactless merchant coalition). Result? Mastercard exclusive, MAJOR win for Mastercard. Possible wins for Chip and PIN and contactless (most likely contactless), two things Mastercard is promoting (more contactless, but they're not anti-PIN like Visa is). 

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Is MasterCard really that unpopular in the US? Because I personally have 4 MC credit cards in my wallet: both of my Barclaycards, my BoA BBR and my Citi DoubleCash. I only have one Visa credit card currently, my BoA Cash Rewards. I figured they were around equal in popularity?

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Definitely not equal, I'd guess the number of Visa card transactions far exceeds Mastercard transactions. In fact, I'd not only guess. I'd look up statistics:

http://www.cardhub.com/edu/market-share-by-credit-card-network/

Even Amex has overtaken Mastercard in the US (it's not clear, but that's US data, based on the source being SEC reports).

That's BEFORE the great Chase Mastercard dump. Before Costco leaving Amex and Walmart/Sam's joining Mastercard too, of course. Still. The net trend has been away from Mastercard, and they're not doing well in the US. Walmart and Sam's are great, but they don't have the credit card loyalty Costco has.

Mastercard will want this deal and will accept some pretty brutal terms to get it, and if they can make it contactless, all the better.

[Anonymous]

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@chwebb1 wrote:

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@nyancat wrote:

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@SunriseEarth wrote:

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@nyancat wrote:

I'd sooner ditch Costco than Amex. Amex is really increasing their acceptance with small businesses a LOT lately, and in the UK acceptance is skyrocketing (because customers demand it - the rewards are way better due to interchange caps on Visa/MC - and for small business Amex can even be CHEAPER to take than Visa/MC). Costco is a setback, for sure, but my understanding is their terms were rather unreasonable.

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I'm in the same boat.   I joined Costco for the specific purpose of getting a TE.   Without that, Sam's Club and their MC is looking appealing.  

Hopefully, AMEX retains the Costco portfolio and offers a new product.   if not, I'll probably just move my CL over to BCE next year

---

Costco will probably become a Mastercard, as Mastercard seems to be the master of retailer relationships like this recently. It would be a huge win for Mastercard, which is rather unpopular in the US compared to other countries. You hear about Discover fighting for this, but I can't imagine it not going to Mastercard. I'd imagine they're likely to also accept contactless as part of the agreement, Costco's terminals support contactless it's just disabled and they are not part of MCX (the anti-contactless merchant coalition). Result? Mastercard exclusive, MAJOR win for Mastercard. Possible wins for Chip and PIN and contactless (most likely contactless), two things Mastercard is promoting (more contactless, but they're not anti-PIN like Visa is). 

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Is MasterCard really that unpopular in the US? Because I personally have 4 MC credit cards in my wallet: both of my Barclaycards, my BoA BBR and my Citi DoubleCash. I only have one Visa credit card currently, my BoA Cash Rewards. I figured they were around equal in popularity?

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Chase essentially switched from Mastercard to VISA on Freedom and CSP (and I believe other cards as well).  

AMEX's rewards are nice, but while others aren't to their level (yet!)  they are catching up.  As long as CSP doesn't nerf their rewards (again) they could be the alternative for those who don't like AMEX.  I don't dislike AMEX and I am considering a BCE for future purposes, I just can't see the point in paying a mega-high AF for rewards that other cards offer, and a lounge that I would never use anyway.  Lower that AF to $250, then we'll talk. 

[Jerry45]

Amex is still the Gold Standard.