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09-27-2016, 04:13 PM #1Moderator
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Amex wins big court ruling
The 2nd Circuit just ruled that American Express can continue its policy of preventing merchants who accept Amex from steering customers to cards that cost less to process.
The ruling overturns a lower court decision that found the policy violated anti-trust rules.
It also means stores that accept American Express cards cannot ask you if you would prefer to pay with Visa or MasterCard instead.Current Fico Scores: 710 TU, 732 EQ
My Goal for 2016: 750+
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09-28-2016, 12:31 PM #2Registered User Semi Pro Member
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I always wonder why more merchants don't refuse to accept Amex? Would they really lose customers as a result?
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09-28-2016, 06:20 PM #3Registered User Semi Pro Member
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Yeah ... higher prices for everyone.
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09-29-2016, 11:35 AM #4Registered User Junior Member
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Yes. The headline should be "Consumers Lose Big Court Ruling."
Originally Posted by Gobears
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10-02-2016, 01:58 PM #5Registered User Semi Pro Member
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The next step will be preventing gas stations that take cards from advertising lower prices for cash.
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10-03-2016, 01:13 AM #6Registered User New Member
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If a merchant already accepts AMEX there will be no price increases, at least there shouldn't be. They should have figured in the cost of taking AMEX in their prices already. If a merchant asks could you use a different card, do they give you a discount? If they have been accepting AMEX and haven't adjusted this in their prices, they have bigger problems than taking AMEX.
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10-03-2016, 04:39 PM #7Registered User Junior Member
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No one complains about Discover, which also charges higher fees than Visa and M/C.
Why is that?
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