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Author Topic: Another retailer bans American Express, joining revolt led by Costco  (Read 930 times)

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Offline 240B

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Another retailer bans American Express, joining revolt led by Costco
« on: June 05, 2024, 08:18:54 pm »

DAILYMAIL.COM
By TILLY ARMSTRONG
5 June 2024

eBay customers will no longer be able to use American Express cards to pay for purchases from this summer.

The online marketplace announced Wednesday that it would no longer accept the cards from August 17. It blamed the 'unacceptably high fees'  imposed byAmEx for processing transactions.

It is a huge blow to American Express, which has become a favorite among Gen Z consumers, and whose customers are often the most attractive among merchants as they tend to spend the most money per month on their cards.

(more)
https://www.dailymail.co.uk/yourmoney/consumer/article-13499249/american-express-payment-costco-fees.html
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Online Smokin Joe

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Re: Another retailer bans American Express, joining revolt led by Costco
« Reply #1 on: June 05, 2024, 08:32:05 pm »
I haven't ever had an American Express card, and made that decision back when the AMA requested they pull ads that put motorcyclists in a bad light and they refused. The next issue of the American Motorcyclist had the organization's cut cards on the cover.

At the time I was riding actively (I'm a Charter Life Member of the AMA), and I never  applied for the AmEx card. Didn't need it.
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Offline cato potatoe

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Re: Another retailer bans American Express, joining revolt led by Costco
« Reply #2 on: June 06, 2024, 09:28:20 pm »
I was never partial to Amex.  They made me pay a $10k initiation fee for my black card, and half of time, the cheetah isn’t comped with my new Ferraris.
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Offline Drago

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Re: Another retailer bans American Express, joining revolt led by Costco
« Reply #3 on: June 06, 2024, 11:57:22 pm »
AmEx has the highest merchant fees....not a favorite among my local merchants.

https://wallethub.com/edu/cc/average-credit-card-processing-fees/138461
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