Coming Soon: A Swarm of American Express Pitches
Ron Lieber reports in the Wall St. Journal about the upcoming pitches consumers will be receiving for American Express cards.
Banks like the idea of issuing AmEx cards because an American Express generally pays them more than a Visa or MasterCard. But for consumers, AmEx has its limitations: It's not as widely accepted by merchants.
That fact was hammered home recently, when Walgreens -- the nation's biggest drug store chain -- announced it wouldn't accept American Express cards anymore. AmEx hits retailers with higher average service fees than MasterCard and Visa, and Walgreens says it decided the premium wasn't worth it.
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