cancel
Showing results for 
Search instead for 
Did you mean: 

Why don't some places accept AMEX?

tag
Anonymous
Not applicable

Re: Why don't some places accept AMEX?


@MarineVietVet wrote:

 

Having strong views and opinions is a very good thing but lets's remember that the opinion of someone else is just as valid as yours or mine.

 



Are you really saying we shouldn't point out when someone repeatedly states incorrect facts, because in the eyes of the forum they are "opinions" and all "opinions" are valid?  I know that when people frequently post about making horribly irresponsible personal financial decisions we're all supposed to say "Oh, it's okay, I see where you were going with that!" and be supportive so that people feel comfortable here.  I can sort of comprehend the theoretical value of the policy in that arena, but I don't really see the value in acting like that if someone is throwing around false information.  People here clearly believe things they read on here, and it would be a shame if someone tried to tell a shopkeeper that having a credit card minimum is illegal.  Could get ugly.

Message 91 of 101
Platinum
Frequent Contributor

Re: Why don't some places accept AMEX?


@Anonymous wrote:

@MarineVietVet wrote:

 

Having strong views and opinions is a very good thing but lets's remember that the opinion of someone else is just as valid as yours or mine.

 



People here clearly believe things they read on here, and it would be a shame if someone tried to tell a shopkeeper that having a credit card minimum is illegal.


It was against the VISA/MC policy before the Dodd-Frank Act for merchant to display that sign and at the same time accept VISA/MC. I did not know about the change and I did not insist that only my belief was the truth and only truth.

We used to have payment networks telling merchants what sign they can or can't display before the Dodd-Frank Act, now we have Government telling payment networks what they can or can't tell merchants. Instead of more free enterprise we have more bureaucracy and regulation. That is what I call shame.

 

Message 92 of 101
GregB
Valued Contributor

Re: Why don't some places accept AMEX?


@Platinum wrote:

It was against the VISA/MC policy before the Dodd-Frank Act for merchant to display that sign and at the same time accept VISA/MC. I did not know about the change and I did not insist that only my belief was the truth and only truth.

We used to have payment networks telling merchants what sign they can or can't display before the Dodd-Frank Act, now we have Government telling payment networks what they can or can't tell merchants. Instead of more free enterprise we have more bureaucracy and regulation. That is what I call shame.

 


I agree. At this point we would be better off with NO regulation of any kind than with the absurd excess of regulation that we have now. Even legal professionals can't keep up and have to spend days just researching the various laws that pertain to any action. Even then we just get opinions of the various laws and case law that MIGHT apply.

Message 93 of 101
MarineVietVet
Moderator Emeritus

Re: Why don't some places accept AMEX?


@Anonymous wrote:
 


Are you really saying we shouldn't point out when someone repeatedly states incorrect facts, because in the eyes of the forum they are "opinions" and all "opinions" are valid?  I know that when people frequently post about making horribly irresponsible personal financial decisions we're all supposed to say "Oh, it's okay, I see where you were going with that!" and be supportive so that people feel comfortable here.  I can sort of comprehend the theoretical value of the policy in that arena, but I don't really see the value in acting like that if someone is throwing around false information.  People here clearly believe things they read on here, and it would be a shame if someone tried to tell a shopkeeper that having a credit card minimum is illegal.  Could get ugly.


There is a huge difference between opinions and facts. Of course if someone is incorrect about something then it needs to be addressed and pointed out (I do it all the time and have been corrected many times myself) but whether it's a difference of opinion or correction of error the same principles apply. Posts are expected to be respectful no matter what. It's not that hard to correct someone without sarcasm or belittling them.

 

There are plenty of forums where "anything goes" but this is not one of those forums. Inappropriate and disrespectful comments will continue to be edited and/or removed.

Message 94 of 101
Platinum
Frequent Contributor

Re: Why don't some places accept AMEX?


@MarineVietVet wrote:

It's not that hard to correct someone without sarcasm or belittling them.

 

There are plenty of forums where "anything goes" but this is not one of those forums. Inappropriate and disrespectful comments will continue to be edited and/or removed.


Thanks !!!

Message 95 of 101
aot2009
Regular Contributor

Re: Why don't some places accept AMEX?

As a previous merchant I can tell you the rates are different and the way AMEX handles chargebacks against merchants are different. 

 

Mostly the fact that AMEX loves there customers and the rates are not as low as VISA/MASTERCARD

Message 96 of 101
Open123
Super Contributor

Re: Why don't some places accept AMEX?


@aot2009 wrote:

As a previous merchant I can tell you the rates are different and the way AMEX handles chargebacks against merchants are different. 

 

Mostly the fact that AMEX loves there customers and the rates are not as low as VISA/MASTERCARD


Probably the main reason I prefer to make most of my spending on AmEx these days.

 

As a consumer, I'd much prefer a card that's more prone to decide in my favor, whereas MC/Visa tends to decide on the merchants.  

Message 97 of 101
aot2009
Regular Contributor

Re: Why don't some places accept AMEX?

Yup... also I meant to say

" the rates are not as low as VISA/MASTERCARD"

replace with

 

"the merchant rates are not as low as VISA/MASTERCARD" 

 

I think I paid 2% more for AMEX

Message 98 of 101
Cdnewmanpac
Established Contributor

Re: Why don't some places accept AMEX?


@aot2009 wrote:

As a previous merchant I can tell you the rates are different and the way AMEX handles chargebacks against merchants are different. 

 

Mostly the fact that AMEX loves there customers and the rates are not as low as VISA/MASTERCARD


This is especially important in high-fraud, low-margin businesses. My father ran an independent bookstore for 30 years. He was in an affluent suburb of NYC and it was truly painful when he had to stop accepting AMEX, but he was losing money on each sale that used an AMEX card. The .5% difference may seem trivial to customers, but it erased the margin for the books. AMEX's policy about chargebacks may please its customers, but a substantial part of his business was locating out of print books. He had more problems with AMEX customers submitting chargebacks due to being dissatisfied with the books when they arrived (by a huge factor) vs Visa/MC customers and often the reason for the dissatisfaction was absurd. To continue to lose money on AMEX sales while dealing with the huge headaches AMEX chargebacks engender just stopped being worth it. For the 10 years after he made that decision until he retired, he could remember 4 or 5 customers total who walked out of the store when told they didn't accept AMEX. 

In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Message 99 of 101
aot2009
Regular Contributor

Re: Why don't some places accept AMEX?

Interesting story.....I'm not sure if that will hurt AMEX in the long run or not only time will tell.

Message 100 of 101
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.