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When I buy from a small business that I want to support, I will use cash. When I'm buying anything from a large company, I will always use the fanciest credit cards in my wallet.
In the United States, credit card processing fees are more expensive for fancy rewards credit cards and obviously there's no fee for cash.
That's why nobody takes Discover or Amex. Their fees are higher than Visa and Mastercard.
Amex is such a douchebag rich person flex. The credit card equivalent of a Laboubou collection.
anyone can get an amex. unless you're talking about a platinum or black card? those have minimum spending requirements per year to keep them.
Amex isn't exclusive at all. Anyone can go apply for one and get one. It's not special at all
It costs more for the merchant and cardholder. That's why rich people flex with it. Because they can afford to pay more and cost others more for no reason.
Maybe more for the seller, I don't know but the cost to me is... Nothing. Well the benefit to me is about 3% back on anything I buy. No fees. Just another cheap card.
Lol what? It's just another generic credit card.
amex is taken in 9 out of 10 places when I use it. it's usually small places that don't take it
I literally cannot think of any places that don't take Discover.
The small retailer I worked for didn't take Discover. We took Amex though, because it was high-end and wealthy people love their Amex
I used to do that, but here (Australia) passing on surcharges has sadly been normalised, and during covid heaps of businesses went cashless.
The salt in the wound is that there's not really any reason for businesses to push payment gateways for a better deal. They don't give a shit any more as they just pass it into the customer.
Some American states (not mine) have banned surcharging for credit cards in response to consumer backlash. But what's not banned is marking up everything by 3% and then offering a 3% cash discount.
over here, the extra cost that comes from handling cash is enough that small businesses don't want to take it. counting till every day adds up.
Surprisingly not in the US. If you make 100 sales a day of $20 each, then over a six-day week, you'd pay roughly $360 in credit card transaction fees (assuming 2.5% + 10¢ per transaction which is average). If you instead spent half an hour a day counting cash in the till and then half an hour at the end of the week to go to the bank, that's about $98 in labour cost (assuming a labour cost of $28 per hour, which is roughly $25 per hour in wages and $3 per hour in tax), so the savings are $262 per week, which is not insignificant.