I hate Amex - with a passion. All you who tout Amex - just better pray that you don't ever have an issue with them - your fault or not. It doesn't matter with them.

I had a gold Amex card at 24 -back when you earned it - then because of a clerical error on their part - did not process an address change correctly. I called. They said bill was on the way. I called again, same answer. I called again and said my account had been turned over to collections and reported to a credit bureau. They had - and said they were obligated to report for "people like me" even though months later they agreed (verbally only) that it looked like they had entered the information incorrectly.

I'll never use their card...

To answer your question Wayne - I think you'll find that 90% of the folks will have a MC or Visa - for the other 10% - steer them toward paypal - that will teach them!

I feel like there is a whole credit card world out there I never knew existed. I have had a MC for 18 years, get cash back and never had a problem. Now all of a sudden I feel like I'm slumming it with this card. What I don't get is what is the advantage for a customer buying from PP with an AMEX vs. MC card?

There also seems to be a lot of places that don't take AMEX. That would tell me that most people would have a second card and could use that if you didn't take AMEX. I would also guess that the number of people who only have an AMEX card is very small.

I'd still buy
 

from Pelican whether you accept Amex or not. I use both in my purchases from you. I've had my Amex card since 1977 and receive a couple offers a month to sign up for their extended payment plan. I have refused and will continue to do so.

I keep my Amex card for two reasons. It limits my expenditures because I know the balance is due in its entirety the next month and I get interest free use of the money for 30 days as long as I pay in full. Locally, even when I have the cash, I'll use the AMEX card just to stretch the payment out for 30 days. With Visa/MC, it's easier to blow a budget, and you're more likely to pay less on the balance since you know you can.

Bottom line is that I tend to think of the Amex card more as a substiute for cash than as a credit card.

I'm curious is AMEX willing to negotiate their fees at all?

On reading the posts Wayne, I'd be all for a Paypal option. Not sure if you have one implemented now, but it would have been handy the last couple times I ordered. (plus the wife doesn't see the charges.)

Jim

Wayne
The way I see it strictly from a business stand point is, if you don't have a Amex rep you are doing less than one million a year in charges.

Say your doing $750,000.00 a year in Amex only and they are charging you 1% more than Visa it's costing you $7,500.00 a year to carry Amex.

Are you going to lose more than $7,500.00 a year in profit by not carrying them. Are you going to lose the good word of mouth you get from your customers who would be inconvienced.

More importantly are you going to get one bad comment from one disgruntled prospective customer.

Remember in advertising a company tipically spends 85% of their ad revenue to get new clients and rely on their rep and service to keep their exsisting client.

Just a thought from a fellow business owner
Steve

I never leave home without it...

In business you gotta be able to take the customers money...every way possible.

It may inconvenience you, but you never want to inconvenience your customers...

> " please note that the use of an amex card directly impacts our allready small profit margn. If you have the option please use a M/C , Visa, or Discover . We appreaciate your continued patronage and will strive to continue providing our low prices ".

Wayne, this seems like the best option. I would list the Visa and MasterCard payment options first, then the above message followed by the American Express option. Personally, I would use my MC instead after reading that.

Is this against your AmEx agreement?

I vote for good old C.O.D.

I'd go with the surcharge option. I'd bet that most amex holders have at least one other card and use it by choice, so you're covered both ways with a surcharge.

Surcharging is common in the UK, it costs me a lot less to take debit card transactions than CC trans for large orders. Nearly all budget airlines charge a CC surcharge.

All I use
 

Personally that's all I use, they have the best combo of security and benefits (membership miles). They are more expensive for merchants, so I understand the concern.

I use AMEX almost exclusively, all gas, shopping etc, one bill, great customer service, year end review (did we really spend that much)
I've been with them since 1964!!

I would be interested to hear more about this.

And on a related note:

http://www.snopes.com/business/bank/blackcard.asp

I have a friend / biz associate in Germany that has a black card. I have seen it in action & it works. Pretty classy idea.

Having a couple of cards Visa, MC, Discover. I have to say Amex wins hands down when it comes to protection. All other cards fail, I use my Amex for big puchases in case anything goes wrong. I don't leave home without it

I hate them. I sell Porsche products also - and they eat a ton of the precious profits....

BUT many, many of my high-end customers use AMEX so I must accept it.

As a small business owner, I take AMEX because many of my customers use it. Why should I remove a means for easy payment. Id rather pay more in fees than wait 2-3 weeks for payment form the same customers by check. Its all about cash flow for me. The quicker I get my money the better.

After all if I was operating on margins that would be affected by credit card fees I would close up shop and do something else.

I'd like to hear some of the success stories about Amex stepping up when something goes wrong.

I had a dispute on my company card and Amex immediately and permanently sided with the vendor. I don't know why I even bothered to file a claim, their "investigation" was a joke.

How did they earn this rep?

most amex users have mc or visa. in my restaurant, i take amex because a lot of "business meals" are paid thru company amex cards. I would think most of your business is for personal use and thus a potential buyer would have alternate methods of payment. Of course for first time online buyers, the amex card would give them more peace of mind.