I have a American Express mastercard and I have observed that some of the resteraunts, shops, and even my own college does not accept American Express. Does anyone know why a majority of places do not accept this card?
2006-10-06 10:27:09 · 7 answers · asked by brooke992002 2 in Business & Finance ➔ Credit
For starters American Express and MasterCard are two different cards by two different companies and most places accept major credit cards. Independent buisnesses choose what credit cards they'll accept, but most places accept Visa MasterCard American Express. I should know I have one through Bank of America(formerly MBNA) who has been authorized by American Express to issue cards to people.
2006-10-06 11:16:39 · answer #1 · answered by nabdullah2001 5 · 1⤊ 0⤋
From what I have been told, the credit card companies charge a fee for the equipment and for the amount of times it is used. American Express charges more than Mastercard or Visa.
2006-10-06 10:37:20 · answer #2 · answered by needifference 2 · 0⤊ 0⤋
American Express charges a higher per transaction fee then other merchants such as Visa or Mastercard. With some cards, AMEX pays the retailer when the money is payed for by the customer. This means that you can charge $5000 and the business might not see the money until you pay AMEX, which explains why many AMEX cards you muct pay for by the end of the month.
2006-10-06 10:37:18 · answer #3 · answered by robyn 2 · 0⤊ 1⤋
Alot of places overseas accepts Amex. I have found more places dont take Discover than Amex. Generally the reason really comes down to the cost. Every credit card charges the business a % of all transactions (purchases.) Amex and Discover are the 2 highest. Its cheaper for a business to use just Visa/MC.
2006-10-06 10:32:53 · answer #4 · answered by MazdaMatt 5 · 0⤊ 0⤋
Accepting credit enjoying cards expenditures money and American show credit enjoying cards cost the main, lots of company do not take them and it is hurting American show very much, little doubt. RE: How come maximum places do not settle for American show credit enjoying cards? I extremely have found out that some eating places and shops do not settle for American show/hit upon credit enjoying cards. Why is that? purely places including Costco and Sam's club furnish American show (alongside with the C...
2016-11-26 21:43:09 · answer #5 · answered by ? 4 · 0⤊ 0⤋
There is no such thing as an American Express Mastercard.
2006-10-06 11:32:32 · answer #6 · answered by Anonymous · 1⤊ 0⤋
because they charge the venor a higher fee to use their service
2006-10-06 10:28:59 · answer #7 · answered by Anonymous · 0⤊ 0⤋