No more American Express after August 17, 2024
I wonder how a firm like Ebay calculates the business loss resulting from such a decision? For several reasons I prefer using Amex and do less business with places that don't take it if suitable alternatives do. I doubt I'm alone that way. Perhaps Amex use is a small enough proportion of total transactions that it isn't a big deal one way or the other?
16 comments
knasha.hwxsieklg
·1 year agoAmex is my only card. No Amex - no purchase. Simple.
I have Paypal with the same Amex card connected to it. So same difference.
tueschn_0
·2 years agoits august 23 i dont think they stayedw ith the decision
lacemaker3
·2 years agoSorry, no, Today is July 23, 2024.
kensgiftshop
·2 years agoYou're a month ahead.
frankenhobbit
·2 years agoSweet. If you could send me a message with the Mega Millions numbers for August 23rd......
kathiec
·2 years agoI went out to lunch today, and the restaurant had painted on the door under its hours 'AMEX not accepted'. So eBay is hardly alone.
kensgiftshop
·2 years agoAs a vendor, AmEx is a PITA to work with, that's why a lot of places don't accept it.
ittybitnot
·2 years ago@twal6058
Apparently the reason given for dumping AE is that it cost too much, though I suspect that is NOT the only reason. Only eBay will know if it was a worthwhile choice.
They are are adding instead Venmo (a PayPal company) that has offered what was once only a P2P service to send CASH to people you know, but has expanded to allow it to be used for purchasing goods/services under certain circumstances.
Time will tell. AE took REAL good care of their cardholders.
tobaccocardyahoo
·2 years agoI strongly doubt there are many Ebay buyers who have solely Amex cards.
Costco made the switch from Amex to only Visa with minimal effects on its bottom line.
There once was a time when Amex was far more important than it is today.
chevymontecarlo88
·2 years agoâ˜ï¸Costco is a great example. Not a big deal except to those who are mad they won't get there reward points.
eburtonlab
·2 years agoI strongly doubt there are many Ebay buyers who have solely Amex cards.
You are probably right about that, but there may be quite a few very prolific buyers that are issued corporate cards from their places of businesses for business expenses that have no choice and no opportunity to use an alternative card for those expenses.
Luckily it appears that PayPal will still take Amex, at least for the time being.
dirk12955
·2 years agoI owned 2 separate B &M stores for a total of 13 years. I echo the above poster that
said AMEX was a pita to deal with.
Plus, The % I paid to AMEX was always at least 1% more than Visa and MC and about 1.5%
more than I paid to Discover.
That was back a few years, No idea about current rates.
frankenhobbit
·2 years agoJust to add to your point (if you don't mind!) is that what people often don't get is that a 1% higher rate is NOT a 1% higher expense. If Visa is charging 2% and Amex is charging 3%, that's a 1% higher rate, but a 50% higher expense. If a vendor was charging me 50 percent more for anything, I'd be looking to drop that vendor.
dirk12955
·2 years ago100% accurate. Seems like I waited longer to get paid by AMEX also.
kensgiftshop
·2 years agoWhen I accepted AmEx on one of my sites, sometimes it would be a week or more before they would release the funds.
janet9988
·2 years agoI am sure ebay weighed their options and is 100% okay with the loss of members who only use AMEX.
I am sure members are 100% okay with shopping somewhere else since that is their priority in paying for items or using it to pay their ebay fees.