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AMEX "Shop Small" Offer - Spend $10+, Receive $5 Back (10 Limit)

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Established Contributor

Re: AMEX "Shop Small" Offer - Spend $10+, Receive $5 Back (10 Limit)

This is a REALLY great offer! A local grocery store chain that isn't even all that small (30 stores) is on there for me. This offer in and of itself will knock out more than half the annual fee on my BCP. The more I start settling in to normal spend on this new card, the more I realize its value for me. 


FICO 8 7/20: EX 724 EQ 724 TU 730
Message 41 of 83
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Moderator

Re: AMEX "Shop Small" Offer - Spend $10+, Receive $5 Back (10 Limit)


@Gollum wrote:

@K-in-Boston wrote:


In this case, the incentive is being fully funded by American Express.  Outside of normal processing fees, there is no additional cost to the merchants.


Amex fees being higher than other card networks is mostly a myth, and gets perpetuated by credit card processors (now that direct Amex processing is no longer required) so that they can give a merchant a bad rate and just say "well, everyone knows Amex fees are higher."  They also average out total Visa and MasterCard transactions, and because of the Durbin Amendment debit card fees are almost nothing so it skews the fee structure and makes it look like credit card fees are lower for those brands since nearly all debit cards are on those networks.

 

In actual percentages, Visa Signature, Visa Infinite, World MasterCard, World Elite MasterCard, and most especially business MasterCard products have higher processing fees than even the Amex Centurion Card.  This is why Citi will issue a $500 Double Cash WEMC; every swipe is about .85% more in their pocket than a basic non-rewards consumer MasterCard. 

 

If I am faced with "we don't accept Amex," my first go-to is always a Visa Infinite Card.


I could be missing something, but I don't understand how that strategy supports small businesses that don't accept American Express.

 

I used to pay with cash at small businesses that I like so those businesses could avoid processing fees for credit cards, but I wasn't sure that was a good strategy because more cash on hand seemed like it would make that small business a more tempting target for robbery. I have read that rewards credit cards have higher processing fees than non-reward credit cards. In order to support small businesses that I like, now I pay at those small businesses with a non-rewards credit card (I have read that non-rewards credit cards have lower processing fees than rewards credit cards).

Edit: I used strikethrough (a line through part of what I already posted) on a redundant statement.


I haven't carried cash other than for tips and at times when doing international travel for about 16 years.  In order for a business to get me as a customer, they have to accept credit cards because I am very unlikely to go to an ATM when I have other choices that don't inconvenience me.  The reason my first go-to would be a Visa Infinite card is because if they don't accept Amex it's almost certainly a restaurant, and I'm instead paying with either Sapphire Reserve or using ApplePay to pay with Altitude Reserve.  For years I used to just not return to restaurants that didn't take American Express; the loss in revenue was much more than some pennies that may or may not have been saved.

 

With the rise of Square and similar companies that are becoming quite common in restaurants and many small merchants, the point is kind of moot since the business model is flat rate processing and they're paying the same whether it's a signature debit card, no-frills no-rewards credit union card, an Amex Gold, or a corporate MasterCard loaded with rewards.  Depending on the merchant and demographics, they could be losing far more by significantly overpaying for signature debit card processing than they ever would for Amex transactions.

Message 42 of 83
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Frequent Contributor

Re: AMEX "Shop Small" Offer - Spend $10+, Receive $5 Back (10 Limit)

Also now in the age of COVID-19, fewer businesses are preferring cash. There is less risk to staff and customers with chip or contactless payments. 


Im not saying they will stop accepting cash, but some that preferred it are changing with the times. 

Message 43 of 83
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Moderator

Re: AMEX "Shop Small" Offer - Spend $10+, Receive $5 Back (10 Limit)

I registered my EDP yesterday, but like @Remedios I was initially unimpressed with the local spots that qualified. 

 

Just now I went and added the offer to my WF Propel and my Serve (yep, my trusty no-chip old blue Serve from years ago also has the offer) and to my surprise there are not only more places on the list, but a couple that will be useful to me, including a not-so-small local grocery store!  Smiley Happy

 

The grocery store isn't one that I frequent - it's close by, but in the other direction from how I usually go to-and-from - but I'll now make a point to drive the extra couple of miles regardless.

Message 44 of 83
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Valued Member

Re: AMEX "Shop Small" Offer - Spend $10+, Receive $5 Back (10 Limit)

I paid my barbell club membership with my AMEX and shortly after I received an AMEX alert about using/redeeming this offer for it. Unexpected but nice! 

I also attempted to look up my barbell club in the AMEX directory of businesses and didn't see it listed. 

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Message 45 of 83
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Super Contributor

Re: AMEX "Shop Small" Offer - Spend $10+, Receive $5 Back (10 Limit)


@RadioRob wrote:

Also now in the age of COVID-19, fewer businesses are preferring cash. There is less risk to staff and customers with chip or contactless payments. 


Im not saying they will stop accepting cash, but some that preferred it are changing with the times. 


In the drive-thru at Starbucks, seeing the car ahead of me hold cash and coins out to pay for the coffee makes me think the car ahead of me is full of zombies.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 46 of 83
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Senior Contributor

Re: AMEX "Shop Small" Offer - Spend $10+, Receive $5 Back (10 Limit)

I generally keep some cash in the car for those places that dont accept electronic transactions, Car wash etc. I haven't dug around for loose change to pay for Coffee in years though, between GC's and Rewards cards there's no point. And I'm honestly surprised someone is doing this so soon, most places are still doing the no contact payment methods.

 


@RadioRob wrote:

Also now in the age of COVID-19, fewer businesses are preferring cash. There is less risk to staff and customers with chip or contactless payments. 


Im not saying they will stop accepting cash, but some that preferred it are changing with the times. 


This whole thing has got me to thinking that it might be the catalyst to finally do away with physical Money. It might still be  along ways off, but when i think about it, I sometimes don't know why we're still even using it. 

 

 

Most of the places around me are Retaraunts so I added it to Gold, and it will help offset that AF. The perks on BCP more than helps cover the AF there. I was surprised to see Taco Time on the list though, they don't seem so small to me. 






Message 47 of 83
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Regular Contributor

Re: AMEX "Shop Small" Offer - Spend $10+, Receive $5 Back (10 Limit)

Added this to my Gold yesterday. Really excited about this since I've been a little burnt Gold didn't get any additional credits... I know, 4X on dining and restaurants is still really useful. But honestly, MR aren't worth quite what they were to me before in this current climate. This will certainly keep the Gold in my wallet another year, along with the Amazon bonuses I've taken advantage of recently.

 

Also kind of nice because a lot of the restaurants I was going to eat at over the next week are on the small business list here. Nice job Amex. 

Scores: (6/27/20) EQ: 759, EX: 771, TU: 755
Message 48 of 83
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Frequent Contributor

Re: AMEX "Shop Small" Offer - Spend $10+, Receive $5 Back (10 Limit)


@Janus wrote:

I generally keep some cash in the car for those places that dont accept electronic transactions, Car wash etc. I haven't dug around for loose change to pay for Coffee in years though, between GC's and Rewards cards there's no point. And I'm honestly surprised someone is doing this so soon, most places are still doing the no contact payment methods.

 


@RadioRob wrote:

Also now in the age of COVID-19, fewer businesses are preferring cash. There is less risk to staff and customers with chip or contactless payments. 


Im not saying they will stop accepting cash, but some that preferred it are changing with the times. 


This whole thing has got me to thinking that it might be the catalyst to finally do away with physical Money. It might still be  along ways off, but when i think about it, I sometimes don't know why we're still even using it. 

 

 

Most of the places around me are Retaraunts so I added it to Gold, and it will help offset that AF. The perks on BCP more than helps cover the AF there. I was surprised to see Taco Time on the list though, they don't seem so small to me. 


There are two different chains: Taco Time https://en.wikipedia.org/wiki/TacoTime and Taco Time Northwest (AKA Taco Time NW) https://en.wikipedia.org/wiki/Taco_Time_Northwest . I go to Taco Time NW restaurants, so I pay using the Taco Time NW app for my phone; the app rewards an entree after using the app to spend $100 at Taco Time NW restaurants. Depending on which entree I order, that's essentially as much as 9% reward on top of whatever reward my credit card gives me. Taco Time NW also has occasional free stuff for users of their app. I don't know if the non Taco Time NW has a similar app.

 

It's a little confusing, but the areas of the two chains don't overlap, and Taco Time NW is in Washington State. Taco Time NW has fewer locations than Taco Time. A Taco Time NW restaurant can be owned by a franchisee, and that restaurant could be the only business that person owns. I don't know if that's true about the non Taco Time NW restaurants.

 

Yes, I'm a Taco Time NW fan. Smiley Very Happy

Credit Scores: (FICO 8) 845 Experian June 2020, 850 TransUnion June 2020 | (FICO 9) 850 Equifax July 2020
Credit Cards (newest to oldest): NFCU VISA Platinum $25,000 | BECU Cash Back VISA $10,000 | American Express BCE $3000 | Simmons Bank VISA Platinum $7500 | Capital One No Hassle Rewards VISA Platinum $500
Message 49 of 83
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Senior Contributor

Re: AMEX "Shop Small" Offer - Spend $10+, Receive $5 Back (10 Limit)

That's interesting, I've never noticed which one mine was here in Oregon. When I was a kid living in Portland my Mom worked at TT, and we would eat there quite often. I still prefer it over the Bell to this day but they are more expensive. lol It usually runs me $20-25 for dinner every time so it wouldn't eb that difficult to meet that $100 on the app. Speaking of i've nerv even heard of it so maybe my local one isn't s TTNW.

 

Thanks for the info though, I will definitely look into the app and see if I can also get that extra % reward.






Message 50 of 83
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