I'm new to the Green and have some questions

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Moneytalks
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I'm new to the Green and have some questions

Postby Moneytalks » Sat Feb 04, 2012 8:30 pm

So, I just accepted for a Green card, and I have some questions, saw this forum, and it's awesome!

1. If I don't use my Amex for a few months let's say there are no stores or places that accept Amex, will my account be deactivated or no?

2. I heard the card monitors the purchases you make, so lets say i make purchases $300-$500 per month, will Amex lower my max limit over time??

3. I know i just got the Green, but how long does is generally take for an upgrade/what are the requirements.

Thanks!
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)


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PlatinumAMEX94
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Green Card uprading - new card holders

Postby PlatinumAMEX94 » Sun Feb 05, 2012 2:48 pm

Moneytalks wrote:So, I just accepted for a Green card, and I have some questions, saw this forum, and it's awesome!

1. If I don't use my Amex for a few months let's say there are no stores or places that accept Amex, will my account be deactivated or no?

2. I heard the card monitors the purchases you make, so lets say i make purchases $300-$500 per month, will Amex lower my max limit over time??

3. I know i just got the Green, but how long does is generally take for an upgrade/what are the requirements.

Thanks!


Answers:
1) No, your account will not be deactivated.
2) Charge cards have no preset spending limit. Credit cards, like the Blue, do have credit limits. Your relationship with AmEx determines your spending ability. Some months I may charge 10k on my card, some only 1k. It doesn't mean I can only charge 1k. When you have a history with them, your spending ability is higher. Someone who has had a card with them for 20 years is more likely to have spending power, than someone who is just starting out. I have never had a charge denied from American Express. I did have a gas station once say it was declined. I laughed, as it was clearly an error on their machine, not on my card.
3) You generally need to be with American Express for at least 13 months before you can upgrade. When they feel you fit their profile they will start mailing you postal invitations. Generally speaking, when you demonstrate you have a lot of discretionary income, then they want to upgrade you (part of the profile). I would notice this when I would make a large payment online, then I would immediately start getting email invitations to upgrade.

Keep in mind, personal charge cards show your discretionary income, business cards show you work for a company that can afford to pay the bill for you, but not necessarily how much discretionary income you have.

Advice to a new user(s) with American Express:

1)Always pay your bill on time. Pay your AmEx bill before you pay your rent. If you think you "might" be late, even a day, call them and tell them. They are more forgiving.
2)AmEx will now monitor your credit report(s) monthly and if you no longer fit their profile they will let you know, by denying your charges. Public records, judgment, not paying other creditors, and so on. Yes, they have that right. American Express prides themselves on having card members who have pristine credit.

Follow those two simple guidelines and you will have a great relationship with them for many years to come. Congratulations and good luck!
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CC Deville
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re: I'm new to the Green and have some questions

Postby CC Deville » Sun Feb 05, 2012 3:51 pm

[color="red"][/color]
Moneytalks wrote:So, I just accepted for a Green card, and I have some questions, saw this forum, and it's awesome!

1. If I don't use my Amex for a few months let's say there are no stores or places that accept Amex, will my account be deactivated or no? [color="red"] Amex is generally one of the best banks in terms of allowing for extended periods of non use so you should be fine[/color]

2. I heard the card monitors the purchases you make, so lets say i make purchases $300-$500 per month, will Amex lower my max limit over time?? [color="red"]All banks "monitor" your purchases. Now if you want to avoid a Financial Review it has been said that you may want to avoid paying lawyer fees with the card and avoid using it online to purchase gold, silver and platinum otherwise, you should not fear your AMEX. The financial review threads and scares are way over hyped.[/color]

3. I know i just got the Green, but how long does is generally take for an upgrade/what are the requirements. [color="red"]You will have to have your Green for at least a year due to the CARD Act; you cannot change the existing card to one with a higher annual fee for the first year. Amex pushes upgrades, so I wouldn't be surprised if after the first year, they offer the Gold, Premier Rewards Gold or even Platinum[/color]

Thanks!


You should have no trouble at all with the card. Don't let anybody scare about Amex.

Moneytalks
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question

Postby Moneytalks » Sun Feb 05, 2012 5:42 pm

Iv'e been reading through this forum, and I have a question:

Is there a "shadow" spending requirement to use the green card? For example, if I don't spend "X" amount per year will they close my account?

(I plan on using the green for everyday purchases, lux splurges here and there, etc.)

Thanks!
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

ashleyAMX
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Postby ashleyAMX » Sun Feb 05, 2012 7:48 pm

+2 to both.
1. No
2. Theres NPSL (No pre-set spending limit), because you have to PIF every month.
3. 13 months

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Postby Money card » Wed Feb 08, 2012 10:13 pm

so Moneytalks will you be using your card for business or personal use? if you are going to be using the card on business where will the bill be sent?

If you will be using your green card for personal use will you shop online or go to your local mall and local stores?

As for me I use my card for personal use. I use it Costco when purchasing a gift card, lunch at Neiman Marcus, Lord & taylor, Timberland, sometimes when I'm at Buffalo Wild Wings I use it there.

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Postby Money card » Wed Feb 08, 2012 10:17 pm

Moneytalks which stores would you be using your green card at?

Moneytalks
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Postby Moneytalks » Thu Feb 09, 2012 4:21 pm

No business, just personal for now, though I am considering going into a biz down the road... back on topic, I plan on using the card online such as amazon and other online retailers, as well as starbucks runs (frequent :) restaurants, BR, Macy's, Best Buy, groceries, miscellaneous splurges on swiss watches and sometimes gas, tho I like to pay with cash most of the time for that...

If I don't spend some "target spending" per month, will they cut me off, or if I only spend $300 here and there with the card. (Not news or anything, but a lot of places don't take Amex :(
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)



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