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Isn't Amex the most expensive of all the credit cards? At least that's what I would expect, given that Amex has the best rewards, and most customer-friendly ser
by whack 10y ago
Isn't Amex the most expensive of all the credit cards? At least that's what I would expect, given that Amex has the best rewards, and most customer-friendly service. I'm surprised Walmart would continue to accept Amex but not Visa.
- blisterpeanuts 10y agoAmex up until recently has charged an annual fee to consumers, which probably eliminates the bottom 10-20% of the market. Probably, Walmart and other retailers just eat the cost of the Amex retailer fee because it's a relatively small fraction of transactions; plus, there's a competitive advantage to accepting a wider range of plastic.
- forgetsusername 10y ago>Amex up until recently has charged an annual fee to consumers That depends which card and/or program you're using. Just like every other CC provider.
- blisterpeanuts 10y agoTrue, but my point is that up until recently, American Express charged higher annual fees and higher merchant fees than Visa, Discover, and Mastercard. 10-15 years ago there were many smaller retailers who would not take AmEx. Now they have several products that are "no-fee" to the consumer, though of course still with merchant fees.