what stores don't accept american express

My bakery doesn’t accept AMEX for instance.

But for every credit card transaction, they pay an interchange fee to the credit card issuer, costing them money.All credit card issuers charge a fee, but not all issuers charge the same fee. Of course, you can also use cash or a debit card, whatever works better for you and your finances.Photo credit: ©iStock.com/adamdodd, ©iStock.com/valentinrussanov, ©iStock.com/Oliver Hoffman This is also the reason why different merchants accept different credit cards.Since all credit card issuers charge a different interchange fee, some of them just might not seem worth it to the merchant.The same reason applies to international merchants as well, which causes many overseas travelers to run into payment hurdles when they try to use an American Express on their trips abroad.And that is where the question about why some merchants don't accept American Express comes into play.Let's go back to the rate American Express charges merchants for the interchange fee: 2-3% transaction. I've heard this before, but I thought merchant fees were (at least partly) set by each merchant's bank/ credit-card processor. MyBankTracker and CardRatings may receive a commission from card issuers. While our articles may include or feature select companies, vendors, and products, our approach to compiling such is equitable and unbiased. This card tends to attract affluent cardholders who have a tremendous amount of buying power. | Why Some Stores Don't Accept American Express How much difference, because I love my Chase Hyatt Visa!

I think that rather than speaking to a company like Amex about why businesses don't want to deal with them, one should be approaching the businesses who turned down the opportunity to be customers of Amex as to why they don't want to deal with Amex.

If you’re thinking of getting an American Express card, don’t let a few retailers that don’t accept the card stand in your way of their lucrative rewards. And to help solve this problem, American Express has a policy in which they will call a merchant if they find out that merchant doesn't accept their cards.They do this so they can engage in a conversation to see if the merchant might reconsider, going the extra mile for their customers.Of the many merchants that don’t accept American Express, the Costco warehouse club is arguably the most well-known.Previously, the popular warehouse club was partnered only with American Express - not the other three major credit card networks.Many shoppers would complain that they couldn’t use their Visa or MasterCard credit cards, which are the two most common credit cards in the world.Through the exclusive relationship, Costco paid lower credit card interchange fees compared to other merchants that accept American Express cards.In 2016, Costco switched its exclusive card partnership to Visa. The Amex rep also said up to 30 days for payments to be transferred which raised an eyebrow. While yes, they’re not taken by every single merchant, almost all chain stores, restaurants, and gas stations accept American Express. In turn, merchants know whether American Express’ clientele will shop at their store or not which will determine whether they’ll accept Amex or not.American Express may not be accepted everywhere, but there’s a reason it remains so popular among customers. To start, let’s debunk the myth that American Express cards have very limited acceptance. According to an American Express representative, 99% of U.S. merchants who accept credit cards also now accept AmEx. The interchange fee is the money that a merchant pays to a credit card issuer for every transaction made with that issuer. American Express’ interchange fee is just too high. This is a different business model from those of Visa and Mastercard, who make much of their money from interest rates.American Express does make interest income, but many of its products aren’t designed to generate interest. The merchant fee was 2-3% and a fixed cost per transaction. This fee is one that all credit card issuers charge - and one that all merchants would like to avoid.This may seem counterintuitive, but merchants have to pay when you use your credit card. Turns out, sometimes accepting American Express just costs too much for merchants to make it worth it.You may not know this, but merchants have to pay credit card companies a fee in order to accept any credit card.

Really.

We may mention or include reviews of their products, at times, but it does not affect our recommendations, which are completely based on the research and work of our editorial team. Surprising places that do and don’t accept Amex. Sometimes that extra 1% or 2% isn’t worth the profit they may or may not gain. The company requires cardholders to pay their balance in full each month. Of course, merchants choose to offer this service because it’s better for their customers and better for business. I waited a month before calling about where my money went before something was done. "Lillian Cavalieri is the founder and CEO of iPrecinct LLC, a political data technology company. This is why many merchants, especially small businesses, don’t accept American Express. “I ended up needing to go back to my house to bring back a Visa card to use at the shop,” he says. That's why we decided it was time to get an answer already.

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