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Using only AmEx and Discover?

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SunriseEarth
Moderator Emeritus

Re: Using only AmEx and Discover?


@longtimelurker wrote:

@Anonymous wrote:
they lose more money by not accepting them honestly.

I don't know if that is true.    Depends on those that go elsewhere because of the lack of acceptence, vs the lower fee charged on those that do purchase.   I suspect that the majority of real world people don't really care which card is used.    If they only have an Amex or Discover, yes, you could lose business, but I doubt if that is a huge segment.


The only business I routinely avoid due to lack of card acceptance is ARCO gas (but those gas stations don't accept any CCs).  The last time I went to ARCO and used a debit card, it was compromised.   I wasn't happy.   But generally speaking, I don't leave a business for their lack of acceptance of a particular payment network.  



Start: 619 (TU08, 9/2013) | Current: 809 (TU08, 3/05/24)
BofA CCR WMC $75000 | AMEX Cash Magnet $64000 | Discover IT $46000 | Disney Premier VS $43600 | Venmo VS $30000 | NFCU More Rewards AMEX $25000 | Macy's AMEX $25000 Store $25000 | Cash+ VS $25000 | Altitude Go VS $25000 | Synchrony Premier $24,200 | Sony Card VS $23750 | GS Apple Card WEMC $22000 | WF Active Cash VS $18,000 | Jared Gold Card $16000 | FNBO Evergreen VS $15000 | Citi Custom Cash MC $14600 | Target MC $14500 | BMO Harris Cash Back MC $14000 | Amazon VS $12000 | Freedom Flex WEMC $10000 | Belk MC $10000 | Wayfair MC $4500 ~~
Message 11 of 45
Anonymous
Not applicable

Re: Using only AmEx and Discover?

i won't spend money somewhere if they don't accept my tender. there are tons of people that won't go into somewhere if they can't use their favorite card. they miss out on all that business to save 2%. dumb
Message 12 of 45
longtimelurker
Epic Contributor

Re: Using only AmEx and Discover?


@Anonymous wrote:
i won't spend money somewhere if they don't accept my tender. there are tons of people that won't go into somewhere if they can't use their favorite card. they miss out on all that business to save 2%. dumb

Sorry, but that is just a reassertion of the original claim.   Are there really "tons"?   Don't you think many of these businesses would have noticed if lots of people left (or called asking about Amex acceptence) because they couldn't use their favorite card and decided that maybe they should accept the higher fee?   At least some businesses look closely and decide the lost business isn't worth the extra fee (including the fact that some of their current customers, who use V/MC might also start using Amex)    

 

Rather than classify them as all "dumb", maybe some have really analyzed and made the "right" decision

Message 13 of 45
Anonymous
Not applicable

Re: Using only AmEx and Discover?

according to a study in business i did over 70% of businesses that don't accept certain tenders of payment are losing money. so yes, 70% are "dumb"
Message 14 of 45
shoo
Frequent Contributor

Re: Using only AmEx and Discover?


@Anonymous wrote:
according to a study in business i did over 70% of businesses that don't accept certain tenders of payment are losing money. so yes, 70% are "dumb"

That's really strange. Typically when I go to a restaurant, I don't find out what kind of cards they accept till I'm about to pay. If they don't accept my Discover, I just use the next best thing lol.

$4200$1000$2650$53,000$6500$2500$12,500$7000$7000$34,700$12,100$10,000
EX - 790 | TU - 782 | EQ - ?
--- In the garden since April 2019 ---
Message 15 of 45
Anonymous
Not applicable

Re: Using only AmEx and Discover?

yeah but i don't go back lol. Smiley Wink
Message 16 of 45
Anonymous
Not applicable

Re: Using only AmEx and Discover?

As much as I love my Amex and my Discover, I never leave home without a Visa, MC, and cash, as well. 

Message 17 of 45
Anonymous
Not applicable

Re: Using only AmEx and Discover?

Where I live I find more accept Discover than AMEX. However, I always cary a  MC or VISA too just in case. My first priority is using my Discover since I'm loyal to them because of how they've treated me since I got the card in January.

Message 18 of 45
TRC_WA
Senior Contributor

Re: Using only AmEx and Discover?


@Anonymous wrote:
i have only gone to one place to not accept amex and that was the local library

You must not get out much.

FICO8 current as of : ----- EQ: --- TU: --- EX: ---
Hard INQs last 12 months: EQ: 5 | TU: 7 | EX: 9
Verizon Visa $6500 Amex Delta Platinum $10,000 Care Credit $12,000
NFCU CashRewards $6000 Apple Card $2000 Best Buy $3500 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) $44k new - balance $31k/6.94%
Total CL: $45,000 --- Total CC UTI: --% --- AAoA: 5.5 years --- Income: $200k
Last app: 11-30-23
Message 19 of 45
Anonymous
Not applicable

Re: Using only AmEx and Discover?

ummm cute assumption. more like where i go and live amex is widely accepted. austin, tx area doesn't say no to much. as places shouldn't.
Message 20 of 45
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