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I haven't had an AmEx since CostCo switched to Visa. But back when I did, I recall there were a lot of places that wouldn't accept it because they supposedly had higher fees. Is that still the case? If it is it would immediately make it less useful than either MasterCard, or Visa.
In Europe the AMEX model is to offer higher card perks/cashback benefits to customers, but to charge higher retailer fees and interest rates for those who don't clear their balances.

I had one for short term 5% cashback but could only use it with major retailers and ultimately closed my account because I was too embarrassed to ask if places accepted it.
 
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Honestly, Visa getting it will make the card more attractive to me because of the Costco factor. I already have too many MasterCards.
 
What countries have low Amex acceptance. I’ve never had an issue with it travel internationally 3-4 times a year. Most recently used Amex at a doner shop in Barcelona.

UK, France, Italy and even Spain. Perhaps in the tourist zones you're ok but I always keep a backup Visa with my Amex Platinum when I travel and I've found it to be needed more and more these days.
 


Visa wants to pay Apple approximately $100 million to be the new payment network for the Apple Card, reports The Wall Street Journal. As of right now, the Apple Card is on the Mastercard payment network, but that is set to change because Apple is ending its partnership with Goldman Sachs.

Apple-Card-iPhone-16-Pro-Feature.jpg

Both American Express and Visa are vying to replace Mastercard as Apple's card services provider, while Mastercard is aiming to retain its position. Apple apparently plans to choose a new Apple Card network before it selects a partner to replace Goldman Sachs as the Apple Card's issuing bank, and competition is intense. Visa is offering Apple a $100 million upfront payment, while American Express is "in the mix" and Mastercard is "fiercely trying" to retain its role.

Apple and Goldman Sachs have been working to dissolve their partnership since 2023, with Goldman Sachs planning to exit the consumer banking market. JPMorgan Chase and Synchrony Financial are in talks with Apple to take over for Goldman Sachs, but American Express has also been aiming to become the issuer and network of the Apple Card. Apple needs both an issuing bank for the Apple Card and a payment network that facilitates transactions.

Goldman Sachs and Apple have worked together on the Apple Card since its 2019 launch, and have also teamed up for the high-yield Apple Savings account. Apple has not been happy with Goldman Sachs because of customer service issues caused by long wait times for disputed Apple Card transactions and savings account withdrawals.

The U.S. Consumer Financial Protection Bureau even launched an investigation into Goldman Sachs due to the customer complaints, which led to tension, so both companies are eager to end their relationship.

The Apple Card has over 12 million users in the United States, with approximately $20 billion in balances.

Article Link: Visa and American Express Vying to Win Apple Card Deal in 'Fierce' Fight
Nobody accepts Amex.
 
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Amex has 20% marketshare in the US, #2 after Visa.
Amex is #3. Mastercard still has a small lead over Amex


Looking at just the United States, the big four brands, Visa, Mastercard, American Express, and Discover, accounted for $5.8 trillion in purchase volume. Here's a breakdown of those brands purchase volume in the United States:
  • Visa: $3 trillion, 52%
  • Mastercard: $1.4 trillion, 24%
  • American Express: $1.1 trillion, 19%
  • Discover: 0.3$ trillion, 5%


Credit Card Market Share by Purchase Volume:
  • Visa: 52.20%
  • Mastercard: 24.90%
  • American Express: 19.50%
  • Discover: 3.50%
 
I haven't had an AmEx since CostCo switched to Visa. But back when I did, I recall there were a lot of places that wouldn't accept it because they supposedly had higher fees. Is that still the case? If it is it would immediately make it less useful than either MasterCard, or Visa.
a lot of mom and pop restaurants still prominently display they don't accept American Express in my area
 
I've never had Amex, but I know they have the highest retailer fees in the market forcing a lot of smaller businesses to not accept it at all. I would hope Visa or Mastercard win this one out.
 
My bet is that Visa will get the network. They're just so much bigger and global for the others to compete.
 
UK, France, Italy and even Spain. Perhaps in the tourist zones you're ok but I always keep a backup Visa with my Amex Platinum when I travel and I've found it to be needed more and more these days.
Amex NZ trumpets having 29000 retailers who accept it, and conveniently they offer a map of them. Looking at that map it quickly becomes apparent just how few 29000 is.
 
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I have had an AMEX Platinum level card since 1968. We use it for travel ticket purchase and better hotels take it. In a travel emergency, it is the card to have.

I use my CostCo Citi card when Apple Pay does not work. I usually get over $1,000 back on CostCo and over $1,000 back on Apple Pay.

Amex has lost a lot of acceptance locations both here and overseas. I have an unlimited level with Amex and a higher limit on the Apple Card than the CostCo card.

When we basically replaced all of our Apple gear in November 2024 to January 2025 time frame, we made additional payments during the months of acquisition as nothing is inexpensive in the Apple world.

We always pay in full every month so no finance charges (or mortgage interest payments).

Hard to believe but our credit rating gets dinged because we have NO long term debt. The finance folks call those of us who pay the balances in full every month dead beats because we choose top not pay their 30% interest rates and have free use of THEIR money for the month. :oops:
 
I've never had Amex, but I know they have the highest retailer fees in the market forcing a lot of smaller businesses to not accept it at all. I would hope Visa or Mastercard win this one out.
This isnt the 1960s, most places use Square, Stripe or some other super big payment processor almost nobody has the old dial in terminals. Modern software/processors all take AMEX.
 
I think it will be Visa and Capital One is the payment network and bank. maybe Chase.

AMEX would be a one-stop-shop though.

I know a lot of y’all don’t want it to be AMEX. I personally don’t mind because I would just use a different card internationally. problem solved.
 
I dont recommend people have too many cards but the Costco card is one I carry. 5% back on gas, plus additional cash back in the store plus you still get cash back from the Costco membership. There is other cash back but I dont recall from memory. I only use mine for Costco shopping and gas, have it added to my app to pay and the pump and maximize my annual return. Past that, yes a Visa deal would be good so it's an option.
3% back on Entertainmemt
 
I find it very interesting that Visa and AMEX are battling for the Apple Card when Goldman Sachs is dropping it due to hemorrhaging money because of it...

Pretty sure Visa will win in the end though. It just makes the most sense for Apple, as Visa has lower processing fees and is accepted literally everywhere compared to AMEX (particularly internationally).
 
I find it very interesting that Visa and AMEX are battling for the Apple Card when Goldman Sachs is dropping it due to hemorrhaging money because of it...

Pretty sure Visa will win in the end though. It just makes the most sense for Apple, as Visa has lower processing fees and is accepted literally everywhere compared to AMEX (particularly internationally).
Came here to say the same thing. Says a lot about which businesses have a high margin (running the payment network, like Visa or Amex) and which don't (issuing the card, dealing with customers).

Personally, all I care about is that the new partnership retains no-fee international transactions.
 
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My vote is for Visa ... maybe Mastercard, meh on Amex - not enough acceptance -, Discover down the line and Synchrony - that has gotten pretty much all store cards - dead last.
 
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