Any Idea about why credit cards like AMEX in Italy offer very poor advantages compared to US? That’s annoying…

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don't they charge a higher fee against vendors in the US? I assume it's the same in EU if not worse, so vendors don't allow them. several restaurants by me in NYC also don't accept AMEX

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The EU interchange fees are about half (0.96% on average) of those in the US (1.76% average). In Italy they’re 0.76% on average. As such it’s much harder for credit card companies to both make a profit and give their cardholders a bunch of perks. They obviously choose the profit when making this decision.

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Also worth noting that in the US, the “tier” of Visa and Mastercard you have will yield a different interchange fee. So a Visa Infinite (CSR, for example) will cost more for a merchant to process than a Visa Signature (CSP) which will cost more than a basic Visa card. (Mastercard is World Elite, World, and basic)

Note: I’m not 100% certain if the various Amex cards have different interchange fees, but Amex fees are often (though not always) higher than Visa/Mastercard, which is why you’ll often see merchants not accepting them.

All this is to say that people who can pay for premium rewards cards are getting their benefits subsidized by people who can only afford basic cards, because merchants will often price in the cost of the highest interchange fee.

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Credit cards are far less profitable outside of the US, both due to lower levels of consumer debt as well as interchange fees. Less money for credit card companies means lower rewards for you.

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