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Senior Contributor
Open123
Posts: 3,929
Registered: ‎02-23-2011

Re: Pending AMEX Class Action Lawsuit

I'd say 90% of all my dining goes through Amex cards.  Virtually all business dining goes through Amex.  For our business dining, unless they take Amex, we will not use them for company functions.  There's only one exception, and it's only because they can prepare a certain delicassy better than anyone else in town.

 

If there's one change I'd like to see in Amex, it would be to have a 2X MR card, such as was offered in the Zync.  I thought the $25 restaurant pack and the 3X airlines were the best features of Amex cards.

 

I've often wondered why Amex doesn't offer 2X MR on their charge cards, like the CSP; but, realize since they already have the market, why offer more?  Even at a single point, all of our dining still goes through Amex.

 

 

Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012

Re: Pending AMEX Class Action Lawsuit

Yes, pretty sure that the very impressive figure for Amex market share is because of business expenses, and nothing/little to do with c"onsumer preference or reward programs etc.

 

Simply, Amex is deeply embedded into corporate expense processes, if you have a medium/big company, Amex is probably going to be your T&E card.

 

Not that has to stay that way for ever, Blackberry used to be the only "real" corporate smartphone and that has changed, despite the huge embedded base.   But Finance is even slower to move than corporate IT, so I would expect the situation to stay this way for quite a long time.

Contributor
kekrre
Posts: 91
Registered: ‎10-31-2012

Re: Pending AMEX Class Action Lawsuit


Open123 wrote:

I'd say 90% of all my dining goes through Amex cards.  Virtually all business dining goes through Amex.  For our business dining, unless they take Amex, we will not use them for company functions.  There's only one exception, and it's only because they can prepare a certain delicassy better than anyone else in town.

 

If there's one change I'd like to see in Amex, it would be to have a 2X MR card, such as was offered in the Zync.  I thought the $25 restaurant pack and the 3X airlines were the best features of Amex cards.

 

I've often wondered why Amex doesn't offer 2X MR on their charge cards, like the CSP; but, realize since they already have the market, why offer more?  Even at a single point, all of our dining still goes through Amex.

 

 


Until Amex decides to offer a core product with it, you can always pick up the $95/yr Amex MB credit card - 3x MR on gas, 2x MR on dining - obviously not for business.

Senior Contributor
Open123
Posts: 3,929
Registered: ‎02-23-2011

Re: Pending AMEX Class Action Lawsuit


kekrre wrote:

Open123 wrote:

I'd say 90% of all my dining goes through Amex cards.  Virtually all business dining goes through Amex.  For our business dining, unless they take Amex, we will not use them for company functions.  There's only one exception, and it's only because they can prepare a certain delicassy better than anyone else in town.

 

If there's one change I'd like to see in Amex, it would be to have a 2X MR card, such as was offered in the Zync.  I thought the $25 restaurant pack and the 3X airlines were the best features of Amex cards.

 

I've often wondered why Amex doesn't offer 2X MR on their charge cards, like the CSP; but, realize since they already have the market, why offer more?  Even at a single point, all of our dining still goes through Amex.

 

 


Until Amex decides to offer a core product with it, you can always pick up the $95/yr Amex MB credit card - 3x MR on gas, 2x MR on dining - obviously not for business.


I never realized it offered 2X on dining and 3X on gas.  Will look into this, since I was thinking about leasing a benz this year.

Valued Contributor
navigatethis12
Posts: 1,881
Registered: ‎01-24-2012

Re: Pending AMEX Class Action Lawsuit

For anyone involved with corporate or business American Express cards, do you knwo why the company prefers them? I am just curious because a lot of people talk about having them, and it looks like their corporate cards have no rewards; unless I missed it.

Senior Contributor
Open123
Posts: 3,929
Registered: ‎02-23-2011

Re: Pending AMEX Class Action Lawsuit


navigatethis12 wrote:

For anyone involved with corporate or business American Express cards, do you knwo why the company prefers them? I am just curious because a lot of people talk about having them, and it looks like their corporate cards have no rewards; unless I missed it.


From what I've seen, it's mainly two reasons.

 

1.  Most companies started using them, since Amex was really the first to break into the corporate market.

 

2.  Their statements and year end summaries makes it much easier to organize especially when charges become extensive making things much easier during accounting season and/or audits.

 

Some companies (mainly smaller ones) have switched over the Visa/MC, because of lesser fees or greater rewards.  Several of the firms we've dealt with over the years have switched over to using a Visa for the business expenses.

Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012

Re: Pending AMEX Class Action Lawsuit

For a year or two my company switched from Amex to GE Visa, but then switched back.  Unfortunately, they didn't tell me why!

Valued Contributor
navigatethis12
Posts: 1,881
Registered: ‎01-24-2012

Re: Pending AMEX Class Action Lawsuit


Open123 wrote:


From what I've seen, it's mainly two reasons.

 

1.  Most companies started using them, since Amex was really the first to break into the corporate market.

 

2.  Their statements and year end summaries makes it much easier to organize especially when charges become extensive making things much easier during accounting season and/or audits.

 

Some companies (mainly smaller ones) have switched over the Visa/MC, because of lesser fees or greater rewards.  Several of the firms we've dealt with over the years have switched over to using a Visa for the business expenses.


That is one thing I like about American Express authorised users. You can easily seperate the charges from the main persons. Chase does this with their Ink cards, as I added myself as an employee and it shows the transactions seperately. I do not know if that can be considered a corporate card, though. I do know that it seems American Express charge allowances grow quickly, but I would imagine a Visa or Mastercard issued from a bank would raise the limit for a big corporation.

 


bs6054 wrote:

For a year or two my company switched from Amex to GE Visa, but then switched back.  Unfortunately, they didn't tell me why!


I was unaware General Electric offered business credit cards.

Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012

Re: Pending AMEX Class Action Lawsuit


navigatethis12 wrote

bs6054 wrote:

For a year or two my company switched from Amex to GE Visa, but then switched back.  Unfortunately, they didn't tell me why!


I was unaware General Electric offered business credit cards.


 

OK, that made me look and everything was explained!  Amex bought GE Corporate Payments, which I guess is why things switched to Amex but we used the same website as before to report expenses.

 

http://www.businesstravelnews.com/Expense-Management/Amex-Buys-GE-Corporate-Payment-Services/?a=tran...

 

 

Valued Contributor
navigatethis12
Posts: 1,881
Registered: ‎01-24-2012

Re: Pending AMEX Class Action Lawsuit


bs6054 wrote


 

OK, that made me look and everything was explained!  Amex bought GE Corporate Payments, which I guess is why things switched to Amex but we used the same website as before to report expenses.

 

http://www.businesstravelnews.com/Expense-Management/Amex-Buys-GE-Corporate-Payment-Services/?a=tran...

 

 


Interesting. I am sure Mastercard was not to happy about the sale.


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