American Express - Good Grief

[Phyer Phyter]

My 19 yo son rec'd a credit card offer from Am Ex today. Yup he has arrived. For the pleasure of the platinum card they will charge him a paltry sum of $400 per year, must be paid in full monthly or they will charge him a meager 30% apr. Oh ya and he only needs to be makin pocket change of $60K per year.

Good grief Am Ex give yer head a shake...

 

[Bill Daley]

sounds like they are hurting for buisness

 

[DaveB]

Nope. Amex has always been the worst. It is the "preferred card" for the company I work for and I catch crap every month on my expenses for not having one. I go for lunches and what not with other downtown Calgary types who use theirs and I laugh as Amex is only accepted at about 25% of retaurants anyways. Never, ever, ever.

 

[Bill Daley]

I can believe you on that one

 

[bigz64]

people dont accept amex because amex cancels anything their cardholders tell them to. then its a huge pain for the business to re-coop their money.

so i have been told

 

[LID]

I'm pretty sure the reason Amex is not accepted that much is that other credit card companies make up to 2% fees from retailers on every purchase. Amex charges 5% on every purchase.

By law, retailers are not supposed to give you a discount if you pay cash and save them the fee. Weak

 

[Beels]

I'm pretty sure the reason Amex is not accepted that much is that other credit card companies make up to 2% fees from retailers on every purchase. Amex charges 5% on every purchase.

Exactly right. Amex gets their head in your door by coming in with a rate comparable to Visa and Mastercard's discount, then a year later, they send out a letter that you may or may not get announcing that your rate is now going up 5 to 7 points.

Been there. A 10K workorder gets 700 bucks eaten up and there's f-all you can do about it other than not take Amex ever again.

 

[Bill Daley]

them pulling this crap is good to know.I won't be dealing with them

 

[Showtime]

Nope. Amex has always been the worst. It is the "preferred card" for the company I work for and I catch crap every month on my expenses for not having one. I go for lunches and what not with other downtown Calgary types who use theirs and I laugh as Amex is only accepted at about 25% of retaurants anyways. Never, ever, ever.

I'm in the same boat as you,I have a corporate AMEX card and half the time end up using my personal M.C. cause they don't take it 90% of the time. Thank god for expense accounts. :d:d

 

[bigz64]

I'm pretty sure the reason Amex is not accepted that much is that other credit card companies make up to 2% fees from retailers on every purchase. Amex charges 5% on every purchase.

By law, retailers are not supposed to give you a discount if you pay cash and save them the fee. Weak

good to know!

 

[Polarblu]

I'm in the same boat as you,I have a corporate AMEX card and half the time end up using my personal M.C. cause they don't take it 90% of the time. Thank god for expense accounts. :d:d

Lol now here is a guy i would revoke the card from just on his basic math skills!!!

 

[Showtime]

Lol now here is a guy i would revoke the card from just on his basic math skills!!!

hahaahaha....oops just noticed that.:d:d

 

[Cyle]

This is insane how does anyone go for that card? I have never ever had a card half that bad.....

 

[CL Trailer Sales]

I Put Thousands Of Dollars Through Each Month On Credit Cards And Not Once Can I Remember A Customer Ever Pulling Out A American Express Card To Purchase Something. I Always Liked Their Little Catch Phrase... (Don`t Leave Home Without It.) Yea.. You Can Leave Home Without It... In Fact You Can Give It To Someone Else... You Can Even Post The Card Number On The Internet. Because No Business Will Accept It Anyways.