In many places in Europe, for example, stores and restaurants prefer not to accept Amex payments because of higher merchant charges. That means that, especially in cheaper stores and family businesses, your card might not be accepted.
People Also Ask
The different fees often make or break a deal for a merchant. This is why many merchants, especially small businesses, don't accept American Express. American Express' interchange fee is just too high. Providers like Visa and Mastercard charge between 1.15% and 2.5%, while Amex charges merchants between 1.43% and 3.3%.
The downsides of American Express cards can include their annual fees. The Platinum Card® from American Express has a very high annual fee of $695 (Rates & Fees), and even the American Express® Gold Card has an annual fee of $250 (Rates & Fees). Another downside is the once-in-a-lifetime policy for welcome bonuses.
In many places in Europe, for example, stores and restaurants prefer not to accept Amex payments because of higher merchant charges. That means that, especially in cheaper stores and family businesses, your card might not be accepted.