AMEX has overcharged since its inception. Many years ago, a business associate and I went to Florida on business. The hotel refused his Amex and I paid our rooms with my MC. A check with others showed that many sites in Miami were refusing Amex at that time.
I applaud Loomis for refusing to use this extortionate company. On the other hand Amex travelers checks are the most accepted, so I am stuck with using them. My bank also uses Amex for their international money orders, which I use if I don't want to put the bill on my card, or cards not accepted.

Waiting impatiently for release of vol. 2.