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The article states that the fees are higher because it is designated an "elite" card. American Express cards also have a higher fee than the standard Visa or M
by slg 7y ago
The article states that the fees are higher because it is designated an "elite" card. American Express cards also have a higher fee than the standard Visa or Mastercard and plenty of retailers complain about that or refuse to accept Amex.
- tedunangst 7y agoYeah, but unless I missed it, they didn't even claim the Apple card is a significant fraction of elite purchases. How is this any different from the "so popular they ran out of metal" sapphire card?
- dwild 7y ago> American Express cards also have a higher fee than the standard Visa or Mastercard and plenty of retailers complain about that or refuse to accept Amex. American Express isn't Visa or Mastercard, they are all on different payment network. I have no issue with them having different fees because they are different. The Apple Card is a Mastercard. Does Mastercard have different fees based on the type of card? I would certainly hate Mastercard more if that was the case.
- ceejayoz 7y ago> Does Mastercard have different fees based on the type of card? Visa and Mastercard both do. "Premium" cards with more rewards have higher interchange rates.