Originally Posted by
TravelinSperry
But they do lose a lot of spend. I use SPG Amex 100% of the time in the states. I use it <10% of the time outside (and then exclusively for Starwood stays only). They lose >$50k annually due to their foreign transaction fee.
And I also wrote a letter to the CEO discussing this. They actually called me back to chat about it. They tried to push me to the Amex Platinum Card which has no foreign transaction fee. But it appears they have no plans to remove or modify this fee anytime soon
You'd think Amex would be losing money from not getting the interchange but there are probably many people who don't even know or care about the fee.
Its ridiculous in the UK though, even the Platinum card has foreign transaction fees and just about every other issuer in the UK has no foreign transaction fee cards even Amex networked cards issued by other banks.
http://www.lloydsbank.com/credit-car...os-rewards.asp is my card of choice for foreign spend.