American Express can no longer be used to buy medical marijuana

Source: Raw Story
By Eric W. Dolan

American Express is no longer allowing transactions to be processed at medical marijuana dispensaries nationwide, according to published reports.

A spokesperson told the LA Weekly that the company made the decision to not allow its credit cards to be accepted for medical marijuana because it is their "policy to adhere to the federal law in such matters."

The American Independent reported that Rep. Jared Polis (D-CO) plans to introduce legislation to clarify that banks can maintain normal business relationships with legal medical marijuana dispensaries, possibly as soon as this week.

“I haven’t seen it with other credit cards,” Aaron Smith, executive director of the National Cannabis Industry Association, said. “I don’t understand why they would turn their back on a $2 billion industry. It’s perplexing.”

More at: http://www.rawstory.com/rs/2011/05/24/american-express-can-no-longer-be-used-to-buy-medical-marijuana/

God bless American Express!

:thumbsup:

denied the medicine recommended by a physician. American Express. I do wonder what billboards cost near their headquarters.

On the other hand though I suspect there are not that many medical marijuana users who carry an American Express. So this is probably just a stupid political statement, primarily aimed at people with lower incomes.

The "green card" basic AMEX has a $95 annual fee.

The AMEX gold card's fee is $125 per year. Platinum is $450.

Blue Sky Preferred is $75 per year.

There are some no-fee AMEX cards, but the interest rates are not real good.

Plus, the merchant fees for AMEX are way up there.

Stick with a nice no-fee card from your local bank. Or just pay cash, if you can. It's better for you AND your dispensary.