Question about AMEX Credit Cards

[Stralem]

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@mrlh1980 wrote:

Ha my American Express Premier Gold card holds a lot of weight. I spend between 24,000.00$ - 45,000.00$ a month with no issues. I like when I swap the charge doesn't take long to process. If a store doesn't want to take my American Express then they don't want my business. As a consumer I don't care if American Express charges the business a high percentages. That's the cost of doing business. If you care that much then accept cash only and see how much people want to spend money at your establishment. Credit is KING. As a business person I welcome American Express because I get more people who have them come to my spot.

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While I'm not a high roller by any means, I feel the same way. I use my PRG anywhere and everywhere Amex is accepted.

Now that being said, at a couple smaller mom-and-pop stores I drop by every now and then, I use another card because of the higher Amex processing cost. Just my way of saying I appreciate their business and hope to see them stick around for the long haul.

But the Best Buys and Targets of the world? Yeah... No pity.

Swipe it, b!tch.

[mrlh1980]

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@Stralem wrote:

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@mrlh1980 wrote:

Ha my American Express Premier Gold card holds a lot of weight. I spend between 24,000.00$ - 45,000.00$ a month with no issues. I like when I swap the charge doesn't take long to process. If a store doesn't want to take my American Express then they don't want my business. As a consumer I don't care if American Express charges the business a high percentages. That's the cost of doing business. If you care that much then accept cash only and see how much people want to spend money at your establishment. Credit is KING. As a business person I welcome American Express because I get more people who have them come to my spot.

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While I'm not a high roller by any means, I feel the same way. I use my PRG anywhere and everywhere Amex is accepted.

Now that being said, at a couple smaller mom-and-pop stores I drop by every now and then, I use another card because of the higher Amex processing cost. Just my way of saying I appreciate their business and hope to see them stick around for the long haul.

But the Best Buys and Targets of the world? Yeah... No pity.

Swipe it, b!tch.

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Haha. I'm a small business owner and I accept it. So, what makes other small business owner any different? I like to make sure my customers feel welcome and then in return they spend more money with me. I don't like to see anyone leave my spot without spending money with me.

[Josh2942]

That so untrue. I have seen little to no merchants that don't accept AmEx. At little ma and pop shops they may not but I don't have any issues at large retailers. However obviously amex should be the only card in your wallet. I personally think you should have a visa MC discover and amex

[longtimelurker]

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@Josh2942 wrote:
That so untrue. I have seen little to no merchants that don't accept AmEx. At little ma and pop shops they may not but I don't have any issues at large retailers. However obviously amex should be the only card in your wallet. I personally think you should have a visa MC discover and amex

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Yes, lots of people lying about stores near them not taking Amex!  Really?   Your area isn't all areas.  Outside the US coverage can be very patchy to almost none, and there are areas in the US that are similar.  

[injustifiiable]

After having a Discover and AMEX for awhile (a few months), I've found that where I do the majority of my spending anyway, like grocery stores, my favorite bar, places I eat at regularly, will take AMEX.

I've only run into very small mom-and -pop type places that don't take it, along with a couple of random restaurants that won't take it here and there. Their machines and merchant accounts are most likely set up to accept AMEX, but they choose not to because of the fees (for example, where I work, our credit card processor charges us 2.3% on Visa/Mastercard but up to 3%+ on AMEX depending on whether it's "qualified" or not. The fee might be more on Discover, I don't remember off hand.)

To add,  I've run into a few restaurants in NYC (I live outside of there) will take the AMEX and not Discover. I thought that was odd (and annoying since I was trying to use the IT during 5% off restaurant quarter, lol)

I wouldn't let the myth discourage you from getting an AMEX...I'm sure once you see how many of the normal places you go to take AMEX it'll be a clear choice!

[IncrsCreditScore1]

This forum is so full of wonderful people sharing their thoughts and experiences and advice.  I am very appreciative of your willingness to share, which gives me better tools to use in making decisions.  Thank you all so very, very much.

[heyitsyeh]

Just from a glance at the proportion of spend on my credit card statements I'd say that FidAmex is taking up about 3/4 of my spend...and I always try to front the Amex first in any non-category transaction.

[IncrsCreditScore1]

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@youdontkillmoney wrote:

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@IncrsCreditScore wrote:

Thanks to all of you for your replies.  This has me rethinking strategy for obtaining a credit card.  How is the AMEX/Costco card viewed by you all?

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^^^

AMEX is AMEX and COstco will take anything AMEX

It depends on the card you want and for what reason, whether it fits your lifestyle. If you just want an AMEX to use at Costco, get the one that gives you the most value.

If you want one for travel and the luxe lifestyle, you move up to Gold and Platinum and Centurion.

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Thank you.  I did not realize that.