30 ms·

A question: Why does AMEX matter? I had a card (for a startup, a long time ago), and I found that most places just didn't take it. Was I missing something? D

A question: Why does AMEX matter? I had a card (for a startup, a long time ago), and I found that most places just didn't take it. Was I missing something? Did they have other functionality that made them worthwhile?

tptacek 18y ago
Off the top of my head: * Amex cards don't have pre-set limits. That's now true of many other business cards too, but the fee structures still differ. Visa allows/expects/hopes you'll carry a balance on your card. Amex disallows it. * In business-to-business situations, everyone accepts Amex. * Amex has absolutely killer customer service. There is simply no comparison. Amex dispute resolution is "default deny" to merchants; when I've contested charges, I've never spent more than 5 minutes on the phone. Total. I feel safer charging big-ticket items on my Amex than on any other card. The major difference between Amex and Visa is the business model; Visa is a payment system that works through card-issuing banks. Your relationship isn't with the card; it's to some bank. Amex is a company, and your relationship is to Amex.
- nopassrecover 18y ago
  The problem here is that "default deny" means merchants are constantly chasing after Amex to actually get money owed them - disputes are a particular hassle for Amex as compared to Visa/MasterCard. Besides which, merchant costs are higher with Amex. In Australia at least it's the exception now to support Amex and additional fees are charged by the merchant to cover these hassles.
  - tptacek 18y ago
    This "problem" seems like a major feature to me.
    - nopassrecover 18y ago
      Except there is no way for merchants to prove themselves - they can do phone authorisations, take copies of driver licences, get signatures and more and they are still out at the end of the month. What's more, Amex will either withhold the money, or if a late chargeback debit it straight from other money Amex owes the mechant before even settling the situation. Merchants shouldn't be penalised because Amex doesn't have a sufficient authentication mechanism. Visa (or your bank) manage to reconcile the situation first.
      - tptacek 18y ago
        I've never had a fraudulent charge on my Amex. I'm talking about "disputes", like, "you wouldn't let me get on the next flight out after you canceled my previous flight out, so I bought a full-fare coach ticket to get the fuck out of town and then charged it back to you". That has worked for me with Amex, and so they have me for life.
        nopassrecover 18y ago
        Except what you are doing is wrong if you agreed to their policy of no refunds in the first place.
        tptacek 18y ago
        I've screwed over an airline that didn't keep its promise to fly me somewhere on the date/time agreed on. And yet somehow I sleep just fine at night. Odd, isn't it?
        nopassrecover 18y ago
        I hate to be this guy but you violated a contract that you agreed to. If you weren't happy with their refund policy you shouldn't have bought their ticket.
        tptacek 18y ago

tptacek 18y ago

Off the top of my head: * Amex cards don't have pre-set limits. That's now true of many other business cards too, but the fee structures still differ. Visa allows/expects/hopes you'll carry a balance on your card. Amex disallows it. * In business-to-business situations, everyone accepts Amex. * Amex has absolutely killer customer service. There is simply no comparison. Amex dispute resolution is "default deny" to merchants; when I've contested charges, I've never spent more than 5 minutes on the phone. Total. I feel safer charging big-ticket items on my Amex than on any other card. The major difference between Amex and Visa is the business model; Visa is a payment system that works through card-issuing banks. Your relationship isn't with the card; it's to some bank. Amex is a company, and your relationship is to Amex.

nopassrecover 18y ago
The problem here is that "default deny" means merchants are constantly chasing after Amex to actually get money owed them - disputes are a particular hassle for Amex as compared to Visa/MasterCard. Besides which, merchant costs are higher with Amex. In Australia at least it's the exception now to support Amex and additional fees are charged by the merchant to cover these hassles.
- tptacek 18y ago
  This "problem" seems like a major feature to me.
  - nopassrecover 18y ago
    Except there is no way for merchants to prove themselves - they can do phone authorisations, take copies of driver licences, get signatures and more and they are still out at the end of the month. What's more, Amex will either withhold the money, or if a late chargeback debit it straight from other money Amex owes the mechant before even settling the situation. Merchants shouldn't be penalised because Amex doesn't have a sufficient authentication mechanism. Visa (or your bank) manage to reconcile the situation first.
    - tptacek 18y ago
      I've never had a fraudulent charge on my Amex. I'm talking about "disputes", like, "you wouldn't let me get on the next flight out after you canceled my previous flight out, so I bought a full-fare coach ticket to get the fuck out of town and then charged it back to you". That has worked for me with Amex, and so they have me for life.
      - nopassrecover 18y ago
        Except what you are doing is wrong if you agreed to their policy of no refunds in the first place.
        tptacek 18y ago
        I've screwed over an airline that didn't keep its promise to fly me somewhere on the date/time agreed on. And yet somehow I sleep just fine at night. Odd, isn't it?
        nopassrecover 18y ago
        I hate to be this guy but you violated a contract that you agreed to. If you weren't happy with their refund policy you shouldn't have bought their ticket.
        tptacek 18y ago