Costco to stop taking AMEX cards

[ps99472]

Market overreacting?  AXP looks cheap to pick up, losing Costco is not the end of the world

 

[momopi]

speaking of living frugally and penny saving, this millionaire ran out of fuel, crashed his airplane and died because he did not fill up his tank. Apparently he wanted to save some $ as the fuel cost at the destination airport is a little cheaper.
http://www.dailymail.co.uk/news/art...pping-trip-killed-private-plane-ran-fuel.html

Back when I was working as a consultant in 2009, I flew on 6 planes almost every week -- 2 flights to 1st customer, 2 flights to 2nd customer, and 2 flights to home on Fri/Sat.  It was when fuel was up and airlines were cutting back on reserve fuel on airplanes:
http://www.nbcnews.com/id/24034468/ns/travel-news/t/pilots-claim-airliners-forced-fly-low-fuel/

 

[lnc]

Market overreacting?  AXP looks cheap to pick up, losing Costco is not the end of the world

Looks like somebody agree with you.

Why American Express is still the best credit card for investors

Long story short, time will tell the real bottom-line impact here, but I suspect it will not be more than 5% or 6% of total Amex revenue. That?s a bad thing, of course, but thankfully there are other reasons to be bullish on American Express ? and reasons to think that the recent sell-off is overdone.

It?s also worth noting that American Express reported fourth-quarter net income that was up 11% year-over-year, and a roughly 7% jump in revenue. So it?s not like Costco is the only path to growth for this financial services company.

 

[ps99472]

Looks like they're losing the JetBlue card as well, at least it's announced late Friday, people will react less over the 3 day weekend

 

[ps99472]

Picked up COF on my 'spidey' sense

 

[ps99472]

http://www.bloomberg.com/news/artic...loses-antitrust-suit-over-merchant-card-rules

Ouch again for AXP, get it really cheap now

 

[qwerty]

i just bought AMEX for my inlaws account.

 

[ps99472]

i just bought AMEX for my inlaws account.

Got out this morning at 78.49 and back in at 77.77  didn't go as low as I thought it would.  Thought people will be really emotional with the triple bad news.

 

[eyephone]

i just bought AMEX for my inlaws account.

Got out this morning at 78.49 and back in at 77.77  didn't go as low as I thought it would.  Thought people will be really emotional with the triple bad news.

There's no upside for amex. The growth credit card stocks are Visa and MasterCard.

 

[irvinehomeowner]

I hate that almost every place I go... they don't take AMEX.

 

[eyephone]

I hate that almost every place I go... they don't take AMEX.

You know the reason right?

 

[Coleman]

I hate that almost every place I go... they don't take AMEX.

I love when I go to a restaurant and they bring the bill on an AMEX bill plate and then when I pull my AMEX out they say that they don't accept AMEX

 

[ps99472]

I hate that almost every place I go... they don't take AMEX.

If its a chinese/viet place, tell them you have no cash, no visa, no mastercard.  Then magically they'll take AMEX

 

[socal78]

I hate that almost every place I go... they don't take AMEX.

If its a chinese/viet place, tell them you have no cash, no visa, no mastercard.  Then magically they'll take AMEX

There is this one Vietnamese place I go to. They will never tell me what I owe. Each time I have to ask, "What's my total?" They always say the same thing, "It depends. Cash or credit?"

But never Amex.

 

[eyephone]

I hate that almost every place I go... they don't take AMEX.

You know the reason right?

I was waiting for your response. The main reason why most places do not take Amex because Amex charges a higher merchant fee percentage vs Visa and MasterCard. (This is in general, note there can be exceptions to this)
http://www.gobankingrates.com/credi...iscover-credit-cards-not-accepted-everywhere/
http://www.fool.com/investing/gener...american-express-can-charge-more-than-vi.aspx

 

[bones]

I hate that almost every place I go... they don't take AMEX.

You know the reason right?

I was waiting for your response. The main reason why most places do not take Amex because Amex charges a higher merchant fee percentage vs Visa and MasterCard. (This is in general, note there can be exceptions to this)
http://www.gobankingrates.com/credi...iscover-credit-cards-not-accepted-everywhere/
http://www.fool.com/investing/gener...american-express-can-charge-more-than-vi.aspx

Pretty universal knowledge no? 

 

[ps99472]

Hence the ignore

 

[eyephone]

I hate that almost every place I go... they don't take AMEX.

You know the reason right?

I was waiting for your response. The main reason why most places do not take Amex because Amex charges a higher merchant fee percentage vs Visa and MasterCard. (This is in general, note there can be exceptions to this)
http://www.gobankingrates.com/credi...iscover-credit-cards-not-accepted-everywhere/
http://www.fool.com/investing/gener...american-express-can-charge-more-than-vi.aspx

Pretty universal knowledge no?

True. I thought I mention it since, people were hating that places do not except Amex. The underlying reason is higher merchant fees.

 

[Coleman]

I hate that almost every place I go... they don't take AMEX.

You know the reason right?

I was waiting for your response. The main reason why most places do not take Amex because Amex charges a higher merchant fee percentage vs Visa and MasterCard. (This is in general, note there can be exceptions to this)
http://www.gobankingrates.com/credi...iscover-credit-cards-not-accepted-everywhere/
http://www.fool.com/investing/gener...american-express-can-charge-more-than-vi.aspx

Pretty universal knowledge no?

True. I thought I mention it since, people were hating that places do not except Amex. The underlying reason is higher merchant fees.

I don't hate these types of places.  I actually think not accepting credit cards in any form adds a touch of authenticity as does quick and abrupt service (which many refer to as rude)

 

[irvinehomeowner]

I feel that as a retailer, you should try to provide as many payment options as possible.

In the overall number of sales, if Amex is the lower percentage, than the higher fees aren't really an issue.

I haven't read the links but from what I remember, most businesses tend to use the credit card service from their bank and most banks don't offer Amex because that's separate processing (as is Discover).

But then that's why you should use something like Square, that accepts all cards.

Sure, most people who have an Amex also have a Visa or MC so it's not that much of an inconvenience but at the same time, you want to make it as convenient for the customer as possible.