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Neiman Marcus to Amex?


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Perhaps I should have said "they may not renew." But here is what (and where)

I read:

"Likewise, Neiman Marcus only accepts American Express and their store card; however, the current exclusive agreement with American Express is due to expire soon and may not be renewed as an exclusive agreement."

http://en.wikipedia.org/wiki/American_Express

(under the heading "The Boston Fee Party")

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It means they can negotiate a lower payment discount with Amex than they'd normally get, and probably lower than they'd get with Visa or MC. Plus they get exclusive cross-branding tie-ins to help bring in new customers.

Since most of their customers will be accustomed to using NM or Amex, and will therefore likely continue to do so, their discount rate could triple if they didn't have the exclusivity agreement.

Per Target, one of their highest costs is merchant fees -- thus one of the reasons they offer repeat customers Target cards.

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