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.
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!