Shop Small Business Saturday by American Express: Something to Think About

Black Friday is over. If you are like me, you hit the sales, came out with the goods, and shopped until you dropped. I removed it from my bucket list this year. I doubt I do it again.

To extend Black Friday, which in recent years we saw cyber Monday, it appears American Express has come up with Shop Small or Small Business Saturday.



While it's a noble idea, and one I will engage in today as I visit some neighborhood stores today, there is an irony to it. It's very expensive for small business owners to accept American Express, and many small business owners already hurting to make a profit simply cannot afford to take American Express.

You see, when you shop at a small business and use a credit card, not only are you paying an interest fee or annual fee to use that card, the merchant as well must also pay the fee. For the small business owner, this hurts the already tight bottom line. American Express charges higher fees than other credit cards, which of course takes away from important profits small businesses need to survive in these tough times.

If you are going to visit a small business today, don't pull out your American Express. Pay with dollars. You will be helping the small business owner out.