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“Most merchant services companies do not want to accept credit card transactions from cannabis businesses,” says Kristi Kelly, executive director of the Marijuana Industry Group, a non-profit trade organization for licensed cannabis businesses. Discover and American Express confirmed they don’t allow cardholders to buy medical or recreational marijuana. Mastercard pleads the Fifth, acknowledging the legality isn’t clear-cut.
Some of them include: late payments, applying for new lines of credit, going bankrupt or carrying a balance from month to month.On the other hand, plenty of things can positively affect your credit.This includes things like having your credit cards for a long time, paying bills on time, having a variety of types of credit and using your credit card each month.“Given this complexity, we continue to monitor the situation, seek guidance from regulators and inform merchant acquirers of any new developments.” Many banks won’t extend basic banking services to marijuana dispensaries, meaning checks can’t be used for payment either.Westend61/Getty Images If you’re seeking some digital titillation, don’t try to use your American Express card for the experience.