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Why stores takes some credit cards and dont take the other ones.
Why stores takes some credit cards and dont take the other ones like for example we take master card, american express but we dont take visa or whatever credit card name why is that . That means that this credit card visa is no good or what.
Stores work though banks. When I first started taking credit cards in a bike shop I worked at for a long time we took Visa and Mastercard but not American Express. At the time Visa and MC charged 4% commission and AE 5%. Most people who had an American Express card also had a Visa or MasterCard so we rarely lost any business and we came out ahead by 1%. later after we got a terminal all of them were < 2% so we accepted all three.
Generally when someplace only takes one card it is because they have a sweetheart deal with that card.
In general stores that take Visa also take MasterCard and vice versa but there are a few exceptions.
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