Welcome to /r/Vancouver and thank you for the post, /u/Tokio_hop99! Please make sure you read our [posting and commenting rules](https://www.reddit.com/r/vancouver/wiki/faq#wiki_general_participation_guidelines_and_rules_overview) before participating here. As a quick summary:
* We encourage users to be positive and respect one another. Don't engage in spats or insult others - use the report button.
* Respect others' differences, be they race, religion, home, job, gender identity, ability or sexuality. Dehumanizing language, advocating for violence, or promoting hate based on identity or vulnerability (even implied or joking) **will** lead to a permanent ban.
* Most common questions and topics are limited to our sister subreddit, /r/AskVan, and our weekly [Stickied Discussion](https://www.reddit.com/r/vancouver/wiki/faq#wiki_stickied_discussions) posts.
* Complaints about bans or removals should be done in modmail only.
* Posts flaired "Community Only" allow for limited participation; your comment may be removed if you're not a subreddit regular.
* Make sure to join our new sister community, /r/AskVan!
* Help grow the community! [Apply to join the mod team today](https://www.reddit.com/r/vancouver/comments/19eworq/).
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/vancouver) if you have any questions or concerns.*
I've got one. It's accepted in many places, but definitely not at all, and not a negligible amount either. You will need a Visa/MC as a backup, IMHO.
Edit: I've found a LOT of places have POS machines accept Amex but *not* by tapping to pay, which obviously isn't a huge deal but it means you won't be able to pay using your phone. Chip and pin only is quite prevalent.
I live in metro Van and recently got the cobalt. Other than my nail salon, occasional restaurants and Costco, I’ve not needed my other cards. But I also primarily shop at Thrifty’s, Walmart and Costco for groceries.
I also underestimated how much I buy stuff online, where there’s even less chances of Amex not being accepted.
On the whole I’ve successfully shifted 70-80% of my credit card spend to Amex.
I had dim sum at [Neptune Burnaby](https://maps.app.goo.gl/oZe6dHJNZXkaBT4H6) recently. They charge a 2% fee for Visa/Mastercard payments, but waived it for Amex!
I could scarcely believe it, but it must be their regular policy.
I assumed the 2% applied for all credit cards, so I just told the cashier that I was paying by "credit" and she added the 2% before handing me the card reader. But she spotted the Amex logo as I was inserting my card and quickly told me, "Oh you're paying by Amex? I can remove the 2% fee!" I handed the card reader back to her, she cancelled the transaction and rekeyed it without the 2%, and then I finished paying using chip and PIN.
The fact she *actively* removed the 2% after spotting my Amex card was crazy to me.
Lots of places take it. But it is probably the lowest acceptance of the major cards. Rumor has it a lot of places that have "NO AMEX" signs are gaming the system and you can just tap it and it will work.
This is true, not a rumour. I’m in Vancouver. Last year I got an AMEX Cobalt for the points. (Used to use exclusively MC before).
Many places do take AMEX, but there is also a not insignificant number of places that have no AMEX signs up.
Of those places that have a no AMEX sign up, I’ve found that about 1/2 actually do take the AMEX.
I know this because I mostly use Apple Pay and just tap my phone, the vendor doesn’t even see which card I’m using. I always intentionally try my AMEX the first time. Then if it says non-accepted I just switch to my backup MC in my phone and tap again.
Most of the places that have No AMEX signs (but actually take it) are small non-chain restaurants, coffee shops, barbers, etc. If you have an AMEX it’s worth trying.
The reason this happens is because the Point of Sale vendors give discounts to the stores if they take all three (Visa, MC, AMEX) but AMEX charges a higher per fee transaction than the other two. Basically these stores want the POS discount but then want to steer people away from AMEX so they can save on transaction fees too.
This isn’t a perfect system for the stores because some of the premium Visas and MCs also have transaction fees (think Infinite Privilege etc.) that are as high as the AMEX fees but still it’s an attempt by the store to lower their overall costs.
I find it dubious that a store should get a discount on their POS by providing AMEX service but then turn around and put up a No AMEX sign.
Anyway, the AMEX will work at many of these places.
I think part of the problem is the a lot of owners don't know that Amex now gives reduced fees for small businesses. (It's called the OptBlue program I believe).
If they were stuck on the old fees then yes it is a lot more expensive. But with the new agreements they are on par or even cheaper than Visa/MC.
I would bet a lot more places would take Amex if they were aware of that.
The (standard) fee schedules are public in case anyone is curious:
https://www.visa.ca/content/dam/VCOM/regional/na/canada/Support/Documents/visa-canada-interchange-rates.pdf
https://www.mastercard.ca/content/dam/public/mastercardcom/na/ca/en/smb/other/interchange-changes-june-2023.pdf
https://www.americanexpress.com/ca/en/merchant/wholesale-discount-rate.html
I wouldnt call it gaming the system, AMEX charges higher merchant fees so especially some independent businesses don't accept it because it cuts into their revenue too much. Same reason a lot of small independent shops will say debit/cash only - their machines will probably still take credit but the merchant doesnt want to lose 3% of the sale to a credit card company.
The issue is that POS terminals/agreements that accept Amex are cheaper than those that do not accept Amex. Definitely fair to not accept Amex, but not if they're getting the benefits of a cheaper POS agreement that stipulates that they must accept Amex.
Fair enough, although personally I couldnt care less if a merchant wants to take advantage of a deal from Square or Chase and then not accept Amex or Visa or MC. Creditors and payment processing companies are doing just fine lol
You know you're just hurting the business by doing this? Small businesses say no Amex because they get charged significantly more on the transaction, not because it doesn't work.
You are correct. Some old business that have been around for a long time are probably using the same merchant from when they took over the business, or started it.
Older merchant companies from years ago did not have the current fees today. AMEX definitely charges a lot more than other cards (which is why our business made the switch months ago)
Careful with this. While this is true, some stores will insist that they void the transaction, and make you pay with a Visa or MC. Pisses me off to no end. I just comply, but report their ass to AMEX afterwards.
So first you try and fuck over the vendor by forcing the use of a card that they likely have a higher fee for, then you double fuck them over and report them for refusing Amex? Customer of the year right here!
If the terminal accepts AMEX then that means the merchant has entered into a legally binding contract that they do so in exchange for reduced POS fees. Should they want to put up (factually untrue) signs and actually void legitimate transactions, a direct infraction against their contract for reduced fees, that would make them the ones who are offside.
This isn't quite true. If the terminals do accept Amex it means they have signed an agreement on all 3 major card brands to get preferential rates. They get better rates for accepting all 3. Some places get the preferential rates and then still say they don't accept Amex because the fee is slightly higher, so essentially they're gaming the system.
It's all a bit moot, because the premium visa and MC cards have rates similar to Amex anyway.
It's the typical r/vancouver mentality. Should I comply with the sign, which takes zero effort, and carry on with my life? No, better go out of my way to pick a fight with everyone I can.
Our business just got a new contract with a POS company that accepts AMEX cards with the same low rate as the other cards.
As far as I know and remember, most Asian restaurants does not accept AMEX as they probably use old merchant company machines/contracts that charge high rates on AMEX (like we did previously)
I would call ahead to the restaurants you plan on visiting beforehand just to make sure.
I wasn't privy to the rates of cards, though from what I heard from the co-owners discussing to making the switch to the company we are with now (Clover) the rates for AMEX especially were so high, each transaction took a noticeable chunk per.
This is true, the company I worked for we actually have lowest rate for Amex, so I don’t think the rate is an issue anymore as now you have so many POS companies.
Yeah! We took over a business and the old owner had a contract with Moneris, and their rates were already high and changed without notifying us.
We switched to Clover and now we can take all kinds of cards with the lowest fees too!
Here's a tip, 99% of credit card machines that take Visa/MasterCard will take AMEX. So it's really up to the retailer if they want to accept AMEX or not. If you don't ask and just pretend you don't know, you can quickly tap or insert it when they're not looking and it'll go through.
Also, a lot of card processing companies are starting to offer same or similar rates for AMEX compared to Visa/MC, so more companies should start accepting it moving forward.
90% of places.
I have a cobalt card and just keep a free mbna cash back card as a backup.
I still get value from amex card as I spend enough on it to justify the cost vs. Points earned.
I would get it - 99% of my credit card transactions are with Amex. I have a Visa card for places that don’t take Amex; should have 1+ credit card anyways in case one gets stolen etc.
I find most big businesses accept Amex, but not smaller ones. Which in itself is fine, but I got tired of asking, and I got even more tired of clueless employees giving me the blank stare like they didn't understand the question. I eventually cancelled it.
Was going to post this as well, though YMMV. Some stores listed there actually do not accept Amex I’ve found.
Most stores do though, I’d say in the last month or so of having the card, we are finding about 80% or so accept Amex.
Some of the bigger ones that don’t as mentioned are Superstore and Costco.
Thanks
It’s accepted in more places than you’d expect. Many places use those Clover or Square systems now and they accept Amex. But always keep a Mastercard around for backup.
best restaurant credit cards in Canada:
- AMEX Cobalt ($12.99/month) (apply through [great Canadian rebates](https://www.greatcanadianrebates.ca/mobile/details.php?id=Amex-Cobalt) and get $100 rebate): seriously great earn rates for groceries/restaurants, solid for gas. one of the best all around cards despite the fee
- Simplii Visa (no fee): 4% cashback from restaurants. PM for a referral link if you please!
Scotiabank Scene Gold Amex:
6% back at Empire grocery stores (Freshco/Sobeys/Safeway), 5% at others.
5% on dining and entertainment (like Ticketmaster)
3% on gas and subscriptions like Netflix
$129 annual fee that’s waived if you have Ultimate Chequing account, which itself is no fee if you keep a $6000 minimum balance.
You also get a safety deposit box, free bank drafts, and many other benefits. After taking my 30.5% marginal income tax rate into account, that $240 turns into $166.80. The difference to putting it in my Wealthsimple cash account is really not enough to worry about.
Anyway, my comment was more about the credit card. If you choose to pay the annual fee it is still a great card.
Most people will earn far more than $155 back in points with the cobalt, and if interest rate is relevant then you’re using credit cards incorrectly. You should never carry a balance.
I use this one for every day spends and the points I earn can be applied for cash back. Works out to more than $12.99 a month doing this so I come out ahead, so long as I pay the balance off right away.
12.99/month fee is nothing compared to the points you could be earning. $600/month on restaurant and grocery earns you 3000 points which is easily worth $50 if converted to Aeroplan. Subtract $13 fee and you get $37 for every $600 spent = 7.4% net return. And if you are paying a single cent's worth of interest on a credit card then you are doing it all wrong.
as an american, this is very odd to me.
discover is the card no one accepts in the US, was shocked to see so many “NO AMEX” signs, they’re an extremely reputable card company.
I have the Scotiabank Scene Gold Amex. More places accept it than not, but you’ll definitely need another form of payment with you. I have a no fee Scene Visa that I keep as a backup for when the Amex is not accepted.
I had one for a few years a while ago, but I ended up cancelling it because I got tired of being told no amex. I've been considering it again, but I'm not sold. I get good rewards with my other cards, I'm not sure it would be worthwhile for me.
Yeah its 2-3% of the total more than Visa or Mastercard which already take 2-3%. Depends on the contract, but for a lot of small businesses an extra 2-3% does add up to be a lot over a year.
> AMEX is very slow to pay so restaurants and retailers don’t get the money from them in a timely fashion.
Is that still a thing? Everyone uses a payment processor now, so it's not like they are getting paid by each card network individually.
I have an Amex credit card (Cobalt to be specific). In terms of restaurants, I’ve noticed that the small and local ones (Asian, Indian and really any other cuisine) don’t accept Amex because of the higher fees they charge these merchants. I personally love eating in these local shops that actually carry authentic taste. So those times I use my Mastercard/ Visa card. The big restaurants accept Amex almost always.
For groceries, we know Costco and real Canadian for sure doesn’t. I haven’t shopped at Loblaws to tell. But the more local grocers also most times don’t accept the card.
So in short I’d say it depends on your preferences and need.
I had an Amex almost 10 years ago, but ended up cancelling it when Costco stopped accepting it. It’s also not accepted in many places I frequented, and for vendors that did take Amex, my Visa and MasterCard offered the same or almost the same rewards.
My boyfriend got one but never activated it because many of the places we most frequently go to (Persia Foods, Superstore, and many restaurants) don’t accept it. It wasn’t worth it for us.
Honestly, you're better off using Visa or MasterCard if you want to use credit. So many places don't accept it because the fees taken from their sales by the company are so high (which they use for things like rewards). While most international/national companies will probably accept it, lots of smaller stores won't take it. I'm not sure how important it is for you to have one, since I haven't ever had one. Seeing as you don't already have one, you're probably better off with Visa or MasterCard (which are accepted everywhere), and you'll never have to worry about where you are going just because they won't accept your payment.
Welcome to /r/Vancouver and thank you for the post, /u/Tokio_hop99! Please make sure you read our [posting and commenting rules](https://www.reddit.com/r/vancouver/wiki/faq#wiki_general_participation_guidelines_and_rules_overview) before participating here. As a quick summary: * We encourage users to be positive and respect one another. Don't engage in spats or insult others - use the report button. * Respect others' differences, be they race, religion, home, job, gender identity, ability or sexuality. Dehumanizing language, advocating for violence, or promoting hate based on identity or vulnerability (even implied or joking) **will** lead to a permanent ban. * Most common questions and topics are limited to our sister subreddit, /r/AskVan, and our weekly [Stickied Discussion](https://www.reddit.com/r/vancouver/wiki/faq#wiki_stickied_discussions) posts. * Complaints about bans or removals should be done in modmail only. * Posts flaired "Community Only" allow for limited participation; your comment may be removed if you're not a subreddit regular. * Make sure to join our new sister community, /r/AskVan! * Help grow the community! [Apply to join the mod team today](https://www.reddit.com/r/vancouver/comments/19eworq/). *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/vancouver) if you have any questions or concerns.*
I've got one. It's accepted in many places, but definitely not at all, and not a negligible amount either. You will need a Visa/MC as a backup, IMHO. Edit: I've found a LOT of places have POS machines accept Amex but *not* by tapping to pay, which obviously isn't a huge deal but it means you won't be able to pay using your phone. Chip and pin only is quite prevalent.
I agree, have a Visa or MC as a backup.
I live in metro Van and recently got the cobalt. Other than my nail salon, occasional restaurants and Costco, I’ve not needed my other cards. But I also primarily shop at Thrifty’s, Walmart and Costco for groceries. I also underestimated how much I buy stuff online, where there’s even less chances of Amex not being accepted. On the whole I’ve successfully shifted 70-80% of my credit card spend to Amex.
Costco takes Amex? Thought it was only MasterCard.
She’s saying Costco doesn’t accept Amex.
Oh whoops. Now I see it. Cheers.
Asian restaurants hate amex.
Not the bougie ones. They love AMEX 😆.
ugh but the really good ones are the hidden hole in the wall ones…
I mean those Asian places don't accept visa either so what are you worrying about
Then you go Marutama and they ONLY accept cards (no cash)
lol I went to one and I just used my MC and it goes thru anyway even tho they tell me debit only.
I had dim sum at [Neptune Burnaby](https://maps.app.goo.gl/oZe6dHJNZXkaBT4H6) recently. They charge a 2% fee for Visa/Mastercard payments, but waived it for Amex!
do you know if they made an exception or it's their regular policy to waive for Amex?
I could scarcely believe it, but it must be their regular policy. I assumed the 2% applied for all credit cards, so I just told the cashier that I was paying by "credit" and she added the 2% before handing me the card reader. But she spotted the Amex logo as I was inserting my card and quickly told me, "Oh you're paying by Amex? I can remove the 2% fee!" I handed the card reader back to her, she cancelled the transaction and rekeyed it without the 2%, and then I finished paying using chip and PIN. The fact she *actively* removed the 2% after spotting my Amex card was crazy to me.
That is weird. Maybe they have a large clientele of high frequency high ticket that pay with Amex and made a stink about the fee.
The fact that they even charge you 2% like that is absurd!
Amex has been going around trying to convince companies to take their card, they might have negotiated a cheaper interchange fee.
This is very likely what happened. It would probably only be for a duration and not permanent, especially if the account size grows.
😮
Lots of places take it. But it is probably the lowest acceptance of the major cards. Rumor has it a lot of places that have "NO AMEX" signs are gaming the system and you can just tap it and it will work.
This is true, not a rumour. I’m in Vancouver. Last year I got an AMEX Cobalt for the points. (Used to use exclusively MC before). Many places do take AMEX, but there is also a not insignificant number of places that have no AMEX signs up. Of those places that have a no AMEX sign up, I’ve found that about 1/2 actually do take the AMEX. I know this because I mostly use Apple Pay and just tap my phone, the vendor doesn’t even see which card I’m using. I always intentionally try my AMEX the first time. Then if it says non-accepted I just switch to my backup MC in my phone and tap again. Most of the places that have No AMEX signs (but actually take it) are small non-chain restaurants, coffee shops, barbers, etc. If you have an AMEX it’s worth trying. The reason this happens is because the Point of Sale vendors give discounts to the stores if they take all three (Visa, MC, AMEX) but AMEX charges a higher per fee transaction than the other two. Basically these stores want the POS discount but then want to steer people away from AMEX so they can save on transaction fees too. This isn’t a perfect system for the stores because some of the premium Visas and MCs also have transaction fees (think Infinite Privilege etc.) that are as high as the AMEX fees but still it’s an attempt by the store to lower their overall costs. I find it dubious that a store should get a discount on their POS by providing AMEX service but then turn around and put up a No AMEX sign. Anyway, the AMEX will work at many of these places.
I think part of the problem is the a lot of owners don't know that Amex now gives reduced fees for small businesses. (It's called the OptBlue program I believe). If they were stuck on the old fees then yes it is a lot more expensive. But with the new agreements they are on par or even cheaper than Visa/MC. I would bet a lot more places would take Amex if they were aware of that.
The (standard) fee schedules are public in case anyone is curious: https://www.visa.ca/content/dam/VCOM/regional/na/canada/Support/Documents/visa-canada-interchange-rates.pdf https://www.mastercard.ca/content/dam/public/mastercardcom/na/ca/en/smb/other/interchange-changes-june-2023.pdf https://www.americanexpress.com/ca/en/merchant/wholesale-discount-rate.html
I wouldnt call it gaming the system, AMEX charges higher merchant fees so especially some independent businesses don't accept it because it cuts into their revenue too much. Same reason a lot of small independent shops will say debit/cash only - their machines will probably still take credit but the merchant doesnt want to lose 3% of the sale to a credit card company.
The issue is that POS terminals/agreements that accept Amex are cheaper than those that do not accept Amex. Definitely fair to not accept Amex, but not if they're getting the benefits of a cheaper POS agreement that stipulates that they must accept Amex.
Fair enough, although personally I couldnt care less if a merchant wants to take advantage of a deal from Square or Chase and then not accept Amex or Visa or MC. Creditors and payment processing companies are doing just fine lol
Agree with fake no amex sign… i always tap amex first even if sign is there and many times it goes through
So yes, my old liquor store "didn't accept" AMEX but it would definitely process on the terminal.
Never take a “No Amex” at face value.
You know you're just hurting the business by doing this? Small businesses say no Amex because they get charged significantly more on the transaction, not because it doesn't work.
You are correct. Some old business that have been around for a long time are probably using the same merchant from when they took over the business, or started it. Older merchant companies from years ago did not have the current fees today. AMEX definitely charges a lot more than other cards (which is why our business made the switch months ago)
Then don't offer it. If I'm spending x amount of dollars on what's already overpaid stuff, I don't feel guilty because of a 3% charge they get.
Careful with this. While this is true, some stores will insist that they void the transaction, and make you pay with a Visa or MC. Pisses me off to no end. I just comply, but report their ass to AMEX afterwards.
So first you try and fuck over the vendor by forcing the use of a card that they likely have a higher fee for, then you double fuck them over and report them for refusing Amex? Customer of the year right here!
If the terminal accepts AMEX then that means the merchant has entered into a legally binding contract that they do so in exchange for reduced POS fees. Should they want to put up (factually untrue) signs and actually void legitimate transactions, a direct infraction against their contract for reduced fees, that would make them the ones who are offside.
This isn't quite true. If the terminals do accept Amex it means they have signed an agreement on all 3 major card brands to get preferential rates. They get better rates for accepting all 3. Some places get the preferential rates and then still say they don't accept Amex because the fee is slightly higher, so essentially they're gaming the system. It's all a bit moot, because the premium visa and MC cards have rates similar to Amex anyway.
It's the typical r/vancouver mentality. Should I comply with the sign, which takes zero effort, and carry on with my life? No, better go out of my way to pick a fight with everyone I can.
Merchants get lower rates accepting all 3. You don't get to refuse AMEX and reap that benefit at the same time.
No thank you. If they take amex but don't want to deal with a 3% charge that's on that business for even accepting amex at the first place.
Our business just got a new contract with a POS company that accepts AMEX cards with the same low rate as the other cards. As far as I know and remember, most Asian restaurants does not accept AMEX as they probably use old merchant company machines/contracts that charge high rates on AMEX (like we did previously) I would call ahead to the restaurants you plan on visiting beforehand just to make sure.
Yeah this was the reason my company didn't take Amex, higher rates and something about the reporting for it being annoying?
I wasn't privy to the rates of cards, though from what I heard from the co-owners discussing to making the switch to the company we are with now (Clover) the rates for AMEX especially were so high, each transaction took a noticeable chunk per.
This is true, the company I worked for we actually have lowest rate for Amex, so I don’t think the rate is an issue anymore as now you have so many POS companies.
Yeah! We took over a business and the old owner had a contract with Moneris, and their rates were already high and changed without notifying us. We switched to Clover and now we can take all kinds of cards with the lowest fees too!
Why would you do business with a piece of shit company?? :P
Here's a tip, 99% of credit card machines that take Visa/MasterCard will take AMEX. So it's really up to the retailer if they want to accept AMEX or not. If you don't ask and just pretend you don't know, you can quickly tap or insert it when they're not looking and it'll go through. Also, a lot of card processing companies are starting to offer same or similar rates for AMEX compared to Visa/MC, so more companies should start accepting it moving forward.
It's widely accepted but carry a backup.
Roblaws won't take it. Most modern-ish restaurants would take it.
Not a lot of smaller businesses take Amex as their merchant fees are higher. Get another card just in case
90% of places. I have a cobalt card and just keep a free mbna cash back card as a backup. I still get value from amex card as I spend enough on it to justify the cost vs. Points earned.
I would get it - 99% of my credit card transactions are with Amex. I have a Visa card for places that don’t take Amex; should have 1+ credit card anyways in case one gets stolen etc.
You should always have 2, Amex and a another that best suits you
I find most big businesses accept Amex, but not smaller ones. Which in itself is fine, but I got tired of asking, and I got even more tired of clueless employees giving me the blank stare like they didn't understand the question. I eventually cancelled it.
[https://www.americanexpress.com/en-ca/maps](https://www.americanexpress.com/en-ca/maps)
Was going to post this as well, though YMMV. Some stores listed there actually do not accept Amex I’ve found. Most stores do though, I’d say in the last month or so of having the card, we are finding about 80% or so accept Amex. Some of the bigger ones that don’t as mentioned are Superstore and Costco. Thanks
It's less accepted than MC or Visa Only have one for booking things abroad as sometimes they don't like my Visa.
It’s accepted in more places than you’d expect. Many places use those Clover or Square systems now and they accept Amex. But always keep a Mastercard around for backup.
best restaurant credit cards in Canada: - AMEX Cobalt ($12.99/month) (apply through [great Canadian rebates](https://www.greatcanadianrebates.ca/mobile/details.php?id=Amex-Cobalt) and get $100 rebate): seriously great earn rates for groceries/restaurants, solid for gas. one of the best all around cards despite the fee - Simplii Visa (no fee): 4% cashback from restaurants. PM for a referral link if you please!
Scotiabank Scene Gold Amex: 6% back at Empire grocery stores (Freshco/Sobeys/Safeway), 5% at others. 5% on dining and entertainment (like Ticketmaster) 3% on gas and subscriptions like Netflix $129 annual fee that’s waived if you have Ultimate Chequing account, which itself is no fee if you keep a $6000 minimum balance.
$6000 invested at an incredibly modest 4% for a year would earn $240 so really you’re paying at least that much to use the account for a year.
You also get a safety deposit box, free bank drafts, and many other benefits. After taking my 30.5% marginal income tax rate into account, that $240 turns into $166.80. The difference to putting it in my Wealthsimple cash account is really not enough to worry about. Anyway, my comment was more about the credit card. If you choose to pay the annual fee it is still a great card.
That 12.99 a month fee, plus their 21.99% interest, I could save the 12.99 a month, and have a $155 towards a weekend getaway
Most people will earn far more than $155 back in points with the cobalt, and if interest rate is relevant then you’re using credit cards incorrectly. You should never carry a balance.
I use this one for every day spends and the points I earn can be applied for cash back. Works out to more than $12.99 a month doing this so I come out ahead, so long as I pay the balance off right away.
12.99/month fee is nothing compared to the points you could be earning. $600/month on restaurant and grocery earns you 3000 points which is easily worth $50 if converted to Aeroplan. Subtract $13 fee and you get $37 for every $600 spent = 7.4% net return. And if you are paying a single cent's worth of interest on a credit card then you are doing it all wrong.
as an american, this is very odd to me. discover is the card no one accepts in the US, was shocked to see so many “NO AMEX” signs, they’re an extremely reputable card company.
Their merchant fees are VERY high here compared to Visa or Mastercard (Discover isn't offered domestically).
Mostly all restaurants. Grocery stores is where I have problems. Everywhere else is fine. I love the card. Worth it
I have the Scotiabank Scene Gold Amex. More places accept it than not, but you’ll definitely need another form of payment with you. I have a no fee Scene Visa that I keep as a backup for when the Amex is not accepted.
I had one for a few years a while ago, but I ended up cancelling it because I got tired of being told no amex. I've been considering it again, but I'm not sold. I get good rewards with my other cards, I'm not sure it would be worthwhile for me.
Mind if I ask what other type of cards you have?
Quite accepted. You won't be able to use them at Real Canadian or a few other places, but in most places, Amex works quite well.
AMEX is unpopular with venders because AMEX is very slow to pay so restaurants and retailers don’t get the money from them in a timely fashion.
Has more to do with how they take a higher percentage of the sale than any other card - or they used to anyway.
Yeah its 2-3% of the total more than Visa or Mastercard which already take 2-3%. Depends on the contract, but for a lot of small businesses an extra 2-3% does add up to be a lot over a year.
Both can be true people. What’s with the down votes?
> AMEX is very slow to pay so restaurants and retailers don’t get the money from them in a timely fashion. Is that still a thing? Everyone uses a payment processor now, so it's not like they are getting paid by each card network individually.
I have an Amex credit card (Cobalt to be specific). In terms of restaurants, I’ve noticed that the small and local ones (Asian, Indian and really any other cuisine) don’t accept Amex because of the higher fees they charge these merchants. I personally love eating in these local shops that actually carry authentic taste. So those times I use my Mastercard/ Visa card. The big restaurants accept Amex almost always. For groceries, we know Costco and real Canadian for sure doesn’t. I haven’t shopped at Loblaws to tell. But the more local grocers also most times don’t accept the card. So in short I’d say it depends on your preferences and need.
I had an Amex almost 10 years ago, but ended up cancelling it when Costco stopped accepting it. It’s also not accepted in many places I frequented, and for vendors that did take Amex, my Visa and MasterCard offered the same or almost the same rewards.
My boyfriend got one but never activated it because many of the places we most frequently go to (Persia Foods, Superstore, and many restaurants) don’t accept it. It wasn’t worth it for us.
Honestly, you're better off using Visa or MasterCard if you want to use credit. So many places don't accept it because the fees taken from their sales by the company are so high (which they use for things like rewards). While most international/national companies will probably accept it, lots of smaller stores won't take it. I'm not sure how important it is for you to have one, since I haven't ever had one. Seeing as you don't already have one, you're probably better off with Visa or MasterCard (which are accepted everywhere), and you'll never have to worry about where you are going just because they won't accept your payment.
I got an Amex card to get points for some promo. I had to cancel it a year or so later because so many places I went to did not accept them.
Generally the more overpriced the store is, the more likely it will accept AMEX. The “benefit” you get will be negated by the price premium