Acceptance of AMEX at restaurants...

[glenn]

The thread on the AMEX card AMEX PLATINUM prompts me to ask...

Would it make any difference in your decision to dine at a restaurant whether or not american express was accepted? If so, why?

[anil]

For a long long time, I never carried a Credit card, just Amex. It let me keep my finances in check. Hence, a no Amex would become a hassle. Now, I've become a big-credit-balance-slut

[cabrales]

It would not make a difference. I always carry at least one Visa card and my Amex.

[Fat Guy]

It makes no difference to me what cards a restaurant accepts, so long as there's an ATM nearby.

[Malawry]

My partner tries to pay for everything with his AMEX card. Our favorite restaurant close to home does not accept AMEX, which he regards as a nuisance, but it doesn't stop him from suggesting we go there when it's too hot to cook.

I don't have any credit cards. I have a debit card with a VISA logo attached to my checking account which I use for dining out if I don't feel like paying cash.

[southern girl]

I prefer Amex for the Flyer Miles...I give my family and friends tickets for Christmas as between cc and regular Delta miles I earn a load considering I fly at least one trip per week 35-43 weeks a year!

[tommy]

Would it make any difference in your decision to dine at a restaurant whether or not american express was accepted? If so, why?

not really. but i prefer to use amex as often as possible for the points and these ease of management of my finances.

[Holly Moore]

I had a spat with Amex about 20 years ago and have been carrying a grudge since. As a result, for my service business (copy/business center) I refused to put in Amex.

We'd get corporate travelers coming through town who wanted to use their Amex card to pay for jobs. We could usually switch them over to Visa or Master Charge. Then we lost a big job because we didn't accept a business traverler's Amex.

Now we do accept Amex. I don't know for sure if it's gained or prevented us from losing any other business. But it probably has. And it's made it easier for those with corporate Amex cards.

Think of it this way. Two restaurants next door to each other. Both doing a very good job. One accepts Amex. One doesn't. You're a business traveler who can either charge a meal to your corporate Amex credit card, or pay for it with a personal credit card or cash and wait to get the money back. Which restaurant do you choose?

[khao]

What about those places that only accept Amex? They're few and far between these days, but a number of years ago I had a date at Grange Hall, and it really put a damper on things when I had to go out to the supermarket ATM (the only one at the time) and get cash. I think I got an Amex card because of that experience. Plus, I find that Amex is the best when fighting bad charges.

[Rail Paul]

What about those places that only accept Amex? They're few and far between these days,

Th trend is growing, however.

VISA was the only card accepted at the Winter Olympics, and the US Olympic Center in Colorado. AmEx has had specialty deals where blocks of tickets to shows are reserved for Gold, Plat, etc holders.

We ordered our Aida tix (the Bway play, not the opera) via Amex Gold, and received superb seats. Our first set of Producers tix were also via AmEx, it was this block purchase which is now marketed as the "Producer's Circle" premium tix.

[anil]

.........I earn a load considering I fly at least one trip per week 35-43 weeks a year!

I Rt/wk, should put you into 70 segments, way above to make GM. With DeltaAmex, you should get double miles.

[southern girl]

edit

[southern girl]

Because of the distances involved...I am a platinum flyer...love those perks...including the free Crown Room membership each year to go with the miles!

[macrosan]

Glenn, my answer is an absolute no. Even when I had Amex, I always ate (and bought) at the place I wanted irrespective of whether they accepted Amex.

Someone made the point that if you're spending your company's money but getting personal rewards on Amex, then that's a big encouragement to use Amex. That's true, of course, but not necessarily ethical. I believe there is some legal precedent in the UK that says that those rewards strictly belong to the company. And the Inland Revenue in the UK may treat rewards as taxable income. If you look at the real value of the rewards, and measure them against your spend, they often amount to less than 2%. My last Visa card gave me 2% as a cash-back. My current Virgin Visa card gives me rewards valued at about 3-4%.

[tommy]

Someone made the point that if you're spending your company's money but getting personal rewards on Amex, then that's a big encouragement to use Amex. That's true, of course, but not necessarily ethical. I believe there is some legal precedent in the UK that says that those rewards strictly belong to the company. And the Inland Revenue in the UK may treat rewards as taxable income.

i don't think there has been any precedent in the states regarding this. and we certainly have no problem with the ethical aspect.

[LaNiña]

I used to work for a company where the mileage points on the corporate Amex cards were always used for business travel.

[tommy]

I used to work for a company where the mileage points on the corporate Amex cards were always used for business travel.

it seems really cheap of a company to do that. seriously!

[jordyn]

I used to work for a company where the mileage points on the corporate Amex cards were always used for business travel.

What happens if you leave the company?

[macrosan]

One of the problems, Tommy, is that there have been schemes which encourage people on expense accounts to spend higher prices for goods and services than is necessary just in order to attract premium rates of reward points.

For example, some hotels in New York used to offer bonus Amex Rewards points and charged higher than standard rates for their rooms if you wanted to take up the offer. One that came to my attention was charging a 'special offer' room rate of $275 a night to all-comers for a 4 month period. During the same period, you could get 250 bonus Rewards points per night (worth maybe $15) if you paid rack rate of $325 per night. Those are the numbers as well as I recall them. This means that anyone taking the bonus points for himself on an expense account was ripping off his own company to the tune of $35 per night.

Incidentally, if you think it's cheap for companies to do what Nina said, I know one medium-sized company that is racking up over one million air miles a year from its employees Amex cards. Not my idea of cheap

[Rail Paul]

Certain of the corporate amex cards don't bear points. One visiting consultant mentioned his firm negotiated points out of the deal in return for a concession in some other area.

There have been a few efforts by the IRS to place a value and tax on company paid fares which generate miles used for personal purposes, but the Service hasn't pushed it. The 535 frequent flyers out of Reagan National might not be pleased. (Even the local congress people and staffs fly)

[jordyn]

There have been a few efforts by the IRS to place a value and tax on company paid fares which generate miles used for personal purposes, but the Service hasn't pushed it. The 535 frequent flyers out of Reagan National might not be pleased. (Even the local congress people and staffs fly)

In fact, the IRS has recently made an explicit statement that frequent flier miles are not taxable.

[it aint easy being cheesy]

Amex charges the highest percantage and swipe fees for merchants. Most businesses would love to not accept amex but there are to many business clients which use it for their corporate card. All the credit cards "steal from businesses" who use them. Card companies charge anywhere from 10% to 15% of the bill plus swipe fees.

[tommy]

Card companies charge anywhere from 10% to 15% of the bill plus swipe fees.

i have never heard those numbers.

let us not forget that the banks *are* providing a service here. it's not as though they are just taking money out of the merchant's pockets for no good reason.

and if you want to talk about stealing, we'll discuss ATM fees.

[LaNiña]

Why is that "cheap" of a company? They're paying for the flights, why should it automatically become a personal perk to the employees?

When a person left the company, they kept the miles they accumulated. Not much to be done about that. It seemed like a fair compromise.

By the way, I was the COO. It was my policy.

[tommy]

Why is that "cheap" of a company?  They're paying for the flights, why should it automatically become a personal perk to the employees?

because it seems to be an unwritten, unofficial perk.

considering that a good percentage of the time companies are paying full fare because of last minute reservations, it seems cheap to worry about the points. additionally, there is cost associated with managing those points as well.

it just seems cheap is all.