Neiman's credit card policy

[Ambulance Chaser]

Does anyone know the reason why Neiman-Marcus does not take Visa or MasterCard?  Is it a way of making the store more "exclusive" by ensuring that the rabble who possess an "ordinary" credit card (like me) don't shop there?  It seems to me that they're chopping of their nose to spite their face.

 

[VWpete]

I'm not quite sure why they do that... Whenever I shop there, I have to pay cash (usually no the case) or borrow my parents credit card and reimburse them through my account. It's funny, but if you just bring a receipt, they accept it but they keep on insisting that they have no plans of accepting the majors. I know they've lost some of my business because of this policy... I think it's for exclusivity?
Cheers,
pete

 

[aybojs]

I think they just have a deal with American Express where they only accept American Express cards. Seems like a special business arrangement more than any nefarious plans to maintain an image of exclusivity by preventing the masses from using their Visa/Mastercard, as it's not like American Express is somehow a higher end credit card. I agree though, it is rather annoying and I wonder how it affects their sales.

 

[VWpete]

Actually, has anyone else heard that AmEx was the "exclusivity" credit card? I was not aware of this... There either were or are some premiums paid for higher end service?
I may be crazy, but I'm pretty sure I just read an article about the AmEx institution.
Cheers,
Peter

 

[Steve B.]

There is a slight upside. If you use your Neiman's card they give you an additonal 5% off.

 

[VWpete]

Wow Steve, I wasn't aware of that. Can't beat a discount I haven't even realized I've gotten before.
Thanks,
Pete

 

[thc]

Actually, has anyone else heard that AmEx was the "exclusivity" credit card? I was not aware of this... There either were or are some premiums paid for higher end service?
I may be crazy, but I'm pretty sure I just read an article about the AmEx institution.
Cheers,
Peter

Yes, AMEX has traditionally been the "higher end" card.  But that distinction is virtually non-existent now, especially now that they have no annual-fee credit cards as opposed to solely their charge cards that do charge an annual fee.

To maintain the "exclusive" factor, AMEX introduced a few years ago, the Black Card. This card is by invitation only and is for those high roller customers who can pay for a Porsche in one shot and pay it off by the end of the month.  The platinum card was getting too "common."

 

[Ambulance Chaser]

To maintain the "exclusive" factor, AMEX introduced a few years ago, the Black Card. This card is by invitation only and is for those high roller customers who can pay for a Porsche in one shot and pay it off by the end of the month. Â The platinum card was getting too "common."

Hmm ... I would have thought that the rhodium (the very expensive metal used to give white gold its shiny appearance) card would be one step up from the platinum card. Â

 

[davei]

Amex started out as a charge card, meaning you had to settle the balance at the end of every month. Given their selection process (this was in the 1950s) a certain level of exclusivity could have been attained. These days, anyone can get an Amex, so there's no exclusivity any more. Even with the colors, who cares?.

In Canada there's only a few banks (nationally regulated) so I make most of my purchases with a debit card. VERY handy for keeping those impulse purchases in check, since it's just like paying with cash.