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That’s because every vendor who chooses to accept American Express raises their base prices by 4-5% instead of 3-4%. It has absolutely nothing to do with how m
by andrewmcwatters 2y ago
That’s because every vendor who chooses to accept American Express raises their base prices by 4-5% instead of 3-4%.
It has absolutely nothing to do with how much American Express cardholders spend and everything to do with what they charge vendors and some vendors or their payment processors accept Amex, or you don’t have a choice.
I know this because my firm accepts American Express and they are absolutely not our biggest spenders, but our downstream processors force us to raise prices.
- scarface_74 2y agoInternationally, a lot of places don’t accept Amex because of higher fees. Every Amex cardholder knows to carry a non Amex card. You wouldn’t lose business by not accepting them and some vendors don’t even domestically. I can’t find stats for other cards. But here is the average wealth and income of Plat holders https://monkeymiles.boardingarea.com/whats-average-household-income-net-worth-amex-platinum-cardholder/ https://monkeymiles.boardingarea.com/whats-average-household... Amex cardholders are the highest earners in the industry.
- deleted 2y ago[deleted]