Originally Posted by
oscietra
I'm not certain the foreign transaction fee is very lucrative
Indeed. In my case, Amex loses potential interchange fees on my non-GBP expenditure because I currently use other cards for all of my non-GBP expenditure. If Amex abolished this unjustified 3% fee, they would receive more interchange fees from my expenditure, not less. I'm sure I'm by no means an isolated case.