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The main product of AMEX is not a credit card. It is a charge card which sets them apart from the credit card business and brings a higher yield to AMEX, the b
by inkyoto 2y ago
The main product of AMEX is not a credit card.
It is a charge card which sets them apart from the credit card business and brings a higher yield to AMEX, the business.
- margalabargala 2y agoThe main product of AMEX is access to its cardholders. Because they are picky about who receives their card, an amex cardholder is likely to spend more than a cardholder of another network. This is why businesses accept amex despite the much higher merchant fees; the higher spending by the cardholders means that businesses accepting amex tend to come out ahead anyway, by virtue of selling more to amex cardholders.
- apple4ever 2y agoWell it's not perfect because they didn't accept me and I spend a great deal but always pay my debts.