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No Visa/MC at NM? - Page 3

post #31 of 55
i'm not hugely rich or anything, but both my parents are both marketing majors, anyway . . . i asked my mother about this and her answer was

'to be completely honest, its too keep the riff raff out. poor people can't afford amex.'

. . . she's so tactful
post #32 of 55
Quote:
Originally Posted by von Rothbart
One nice perk of having NM card is to get additional 5% off on all purchases at NM Last Call stores.

This is the one and only reason I have a NM card. The balance gets paid off every month.
post #33 of 55
Quote:
Originally Posted by sbbbjm
i'm not hugely rich or anything, but both my parents are both marketing majors, anyway . . . i asked my mother about this and her answer was

'to be completely honest, its too keep the riff raff out. poor people can't afford amex.'

. . . she's so tactful
Well, nowadays Neimans does take Optima, the cheapo Amex...
post #34 of 55
Quote:
Originally Posted by LabelKing
Yes, apparently that is their policy. Recall the infamous Kalra thread.


Am I the only one that is getting all warm and fuzzy inside thinking about that thread???

http://styleforum.net/showthread.php...+Express+Black

post #35 of 55
Quote:
Originally Posted by iammatt
Diner's recently became a Visa, so NM does not take it. More other places do however,

Well actually Diner's Club became a Mastercard - or more accurately use the Matercard system. I have both (Gold) Amex and DC - DC customer service is head and shoulders above Amex. Also the credit check that DC goes through is far more rigourous than Amex. DC actually called my employer to confirmn what I made.

NM's official reason is related to the policies on privacy between Amex and MC/Visa.
post #36 of 55
Quote:
Originally Posted by sbbbjm
'to be completely honest, its too keep the riff raff out. poor people can't afford amex.'


Well, I hate to think of her marketing grades in college. I can't begin to count the number of (unemployed) college students that got Amex's when I was in school. AMEX almost puts a gun to your head to take it. And yes, I know that future college grads seem like a good base to tap into, unfortunately most of those kids went "belly up" in debt before they even left school and AMEX was left holding the bag. Also, to say that only the riff raff carry Mastercard and Visa is, quite frankly, stupid. Amex charges higher fees to both the customer and the business. If you are smart with your money (as either a business or consumer), you wouldn't have an AMEX as there are cheaper alternatives. AMEX's pitch is one of prestige, but I don't need a green/gold/black card to make me feel prestigious if I am spending a couple of thousand in a store. BTW, NM also own Bergdorf's and Bergdorf's, which is no less prestigious, takes whatever the hell you want to pay them with. I happily and proudly use my cheap looking debit Mastercard whenever I shop and those stores that don't take it don't get my business. I will admit to having a BG card which my wife uses at Neiman's
post #37 of 55
Quote:
Originally Posted by rdawson808
I think the assumption for NM is that the majority of their customers do not. If you have the money you can pay it off every month.

b
I could be totally wrong, but I'd assume the opposite. I can attest from personal experience (on the wrong end) that the fact that someone can afford to pay their bills on time doesn't mean that they actually do. Plus, many folks who have a lot of money - or at least like to appear as though they do - may nevertheless have short-term cash flow issues. I would think NM's assumption is that at least some percentage of their customers will carry a balance, the interest on which will go into NM's pockets instead of those of the Visa/MC issuers'.
post #38 of 55
I have had an AMEX Blue in the past, now have an AMEX Blue again. Never use it. I am constanly getting letters from AMEX to "upgrade" to one of their "big boy" cards but I'll be damned if I do that. Crappy rewards and yearly membership fees? Screw that. I use my Amazon.com VISA instead. Much more practical and the rewards structure is better. I really think that NM is being shortsighted but I am not their targetted consumer for sure. I refuse to pay full retail for many of the things they have (3k for an Isaia Napoli is far too much, even if it fits nicely).
post #39 of 55
Quote:
'to be completely honest, its too keep the riff raff out. poor people can't afford amex.'

And I always thought it was the four-figure price tags :P
post #40 of 55
Quote:
Originally Posted by GQgeek
And I always thought it was the four-figure price tags :P

post #41 of 55
Thread Starter 
Quote:
Originally Posted by lawyerdad
I could be totally wrong, but I'd assume the opposite. I can attest from personal experience (on the wrong end) that the fact that someone can afford to pay their bills on time doesn't mean that they actually do. Plus, many folks who have a lot of money - or at least like to appear as though they do - may nevertheless have short-term cash flow issues. I would think NM's assumption is that at least some percentage of their customers will carry a balance, the interest on which will go into NM's pockets instead of those of the Visa/MC issuers'.


I was thinking of people who actually take care of their finances.

You can use the card when you want to go shopping and simply write a check (or have it deducted auto) from your bank acct at the end of the month. Why do it that way? Because you're not going to carry $5000 on you.

What you say about CC balances in general is certainly true. But I think people who manage to save money and accrue wealth don't let those balances hang around. I have a friend who was once told by a CC company that they were going to cancel his card because they never earned any fees on him. He paid his full bill every month. He owns two homes now. He isn't rich, but on his college prof's salary, he has managed his income very well. I on the other hand...


bob
post #42 of 55
Thread Starter 
Quote:
Originally Posted by FIHTies
Am I the only one that is getting all warm and fuzzy inside thinking about that thread???

http://styleforum.net/showthread.php...+Express+Black



Oh wow. How did I ever miss Kalra?


b
post #43 of 55
Slightly O/T -- I'll agree with rajesh that Diner's Club had the best service, indeed was the best card I've ever had. Except so few places took it.
post #44 of 55
Neiman-Marcus's target demographic is people with more money than common sense, a description that certainly applies to anyone who would pay a yearly fee for the "privilege" of using a charge card . . .
post #45 of 55
Quote:
Originally Posted by Ambulance Chaser
Neiman-Marcus's target demographic is people with more money than common sense, a description that certainly applies to anyone who would pay a yearly fee for the "privilege" of using a charge card . . .

I don't want to turn this discussion into AMEX vs Visa/MC, but AMEX offers plenty of fee-free cards, and for the charge cards, the rewards are very good for those who take advantage of it.
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