I totally get what you're saying, I do.Kiraly wrote: ↑Jul 8th, 2017 11:08 pmAmerican Express has always branded itself as a prestige brand. It highlights that with its "membership has its privileges" trademark, and its no-carrying-balances charge cards (something Visa and MC don't do) with their high annual fees are at the centre of it all. Amex considers itself to be a cut above Visa and Mastercard. Whether it actually is or not is beside the point, prestige has always been Amex's branding.
You can bet your boots that Amex's math geniuses know exactly what they are doing re: merchant fees. Amex does not need to get new math geniuses who will tell it to lower merchant fees. That's not how a prestige brand makes money.
There are other ways Amex can highlight their "prestige". For instance, their customer service is said to be top notch.
Not many can say the same about Visa and MC issuers. I know I can't really.
But if the current model works for them, then it is what it is. I just think they could potentially do better.