How Bad Will It Get for American Express?
bloomberg.com
How Bad Will It Get for American Express?
1–10 of 82 posts
Re: How Bad Will It Get for American Express?
#2Is AMEX really struggling... ?
I really had no idea. That's really disappointing, how could that be?
Re: How Bad Will It Get for American Express?
#3This is typical modern Bloomberg reporting - telling a misleading, emotion driven story from anecdotal data and rumors.
"The Amex people, most of whom had MBAs, sometimes found it amusing to deal with Costco veterans who spoke about starting out stocking warehouse shelves. Less endearing was the habit Costco executives had of referring to Amex as a “vendor.” That made the Amex people seethe. After all, they represented one of America’s oldest corporations. But they smiled and said nothing, and the corporate marriage endured for 16 years."
Seriously?
Re: How Bad Will It Get for American Express?
#4I was really bummed when I found out that the Costco Amex card was getting cancelled, as I was thinking about getting one.
But having read the article: good. I'm glad Costco did not hesitate to tell them to take a hike when they found a better deal.
Re: How Bad Will It Get for American Express?
#5For something as fungible as credit card transactions, it's hard to understand how a "brand" could be truly valuable. (Or is the grocery store cashier secretly really impressed when I produce my Amex Blue?)
Re: How Bad Will It Get for American Express?
#6I was really bummed when I found out that the Costco Amex card was getting cancelled, as I was thinking about getting one. But having read the article: good. I'm glad Costco did not hesitate to tell them to take a hike when they found a better deal.
The Costco Amex vanishing seems like no big deal. However, Costco refusing to take Amex for payment at all introduces far more inconvenience.
Re: How Bad Will It Get for American Express?
#7Is AMEX really struggling... ? I really had no idea. That's really disappointing, how could that be?
Why would that be disappointing? (Unless you own stock..)
Re: How Bad Will It Get for American Express?
#8For something as fungible as credit card transactions, it's hard to understand how a "brand" could be truly valuable. (Or is the grocery store cashier secretly really impressed when I produce my Amex Blue?)
I've live in New York and I've literally never been to a single bar or grocery store that accepts American Express.
Anyone know why this is?
Re: How Bad Will It Get for American Express?
#9For something as fungible as credit card transactions, it's hard to understand how a "brand" could be truly valuable. (Or is the grocery store cashier secretly really impressed when I produce my Amex Blue?)
I've live in New York and I've literally never been to a single bar or grocery store that accepts American Express. Anyone know why this is?
Higher fees than the competition. Otherwise known as their "brand premium".
Re: How Bad Will It Get for American Express?
#10For something as fungible as credit card transactions, it's hard to understand how a "brand" could be truly valuable. (Or is the grocery store cashier secretly really impressed when I produce my Amex Blue?)
I've live in New York and I've literally never been to a single bar or grocery store that accepts American Express. Anyone know why this is?
They charge significantly more off the top vs Visa/Mastercard, and they want their money before you get yours.
I appreciate it because its good for me as far as consumer protection, but I fully understand smaller businesses not wanting to deal with the added expense/hassle.