Credit Card Fees and American Express Arbitration Case
In this section of JustAskBenGlass, the question chosen was by Mike from Fredericksburg who asked about the supreme court ruling on the arbitration clause in American Express. The Supreme Court decided that when a merchant agrees to take an American Express card they signed a contract, and if they want to dispute anything with them, they have to go to arbitration not court. The attorneys were trying to throw out this part of the contract stating that it was not fair. The Supreme Court upheld this clause and it was correct in doing so. Merchants were complaining about American Express’ policy that required the small businesses to use all of their credit cards regardless of their rates. They also complained about the arbitration portion of the contract. However, they signed the contract that required them to do all of the above. American Express has every right to create their own contracts and merchants have every right to choose not to sign the contract. This is why the Supreme Court verdict was correct.