Quote:
Originally Posted by dmboone25
Just curious--what kind of fees we talking here (approx $$$ amount)?
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I think amex is like 2-3% vs visa of 1-1.5%.
So over 50k thats
1,000 at 2% for amex and $1,500 at 3%
vs Visa at of course $500 for 1% and $750 for 1.5%.
So thats a $500-$750 more in fees they have to pay.
So if you get 1.5% cash back on amex and you have to pay the merchant fee you end up losing money.
Also the fee might vary depending on the amount of money in the transaction, it might be a greater percent over $10k or some other number.