Worth paying $95 for the green?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
25 posts
khaos
Green Member
Green Member
 
Posts: 20
Joined: Thu Oct 20, 2011 3:51 am
Location: Orlando

Worth paying $95 for the green?

Postby khaos » Sun Jul 08, 2012 11:50 am

Hey Everyone,

I got an offer in the mail for the Amex Green Card with an application. I browsed through the card details and everything looked good except for the $95 annual fee.

To give you a little history, I applied to AMEX last year in October for the Blue Cash Everyday card as my first card and I got denied. I have a VISA credit card with a Credit Union since October of last year, and since then i have applied for the Chase Freedom and Discover More a couple of months ago and was denied by both. Recently I financed a car through the car markers credit company, and I have got an offer from Capital One for their Platinum MasterCard (which I didn't take up) and now AMEX Green.

My question here is based on my history is it worth applying for the Green Card (besides the $95 annual fee) in order to establish a relationship with them or should I call them up and ask them if I would qualify for the Blue Cash Everyday instead as that is the card I am really interested in. Although I know Amex is very picky so I am unsure as to what to do.

Appreciate any help I can get on this.
Thanks


Ratfacedudeguy
Centurion Member
Centurion Member
 
Posts: 362
Joined: Wed May 30, 2012 8:10 pm
Location: Baltimore

Postby Ratfacedudeguy » Sun Jul 08, 2012 12:18 pm

Amex is a lot more strict when it comes to their revolving credit cards as opposed to their charge cards which is what the green card is. The annual fee for the green card can be worth it depending on how you use it. If you use it in place of your debit card for all your regular spending the rewards you'd earn combined with the extra benefits the card offers could easily make it worth it. The only thing you'll have to keep in mind is that a charge card requires you to pay off your balance in full every month, so you won't have the option to carry a balance like you would with a revolver. If the annual fee is still a serious turnoff for you, you could look into the Zync which offers many similar benefits at a much lower base annual fee of $25 with an even less strict set of criteria for approval than the green. It also gives you the option to add various "packs"to the card which allow you to earn extra rewards based on your spending patterns for an additional annual fee. The only disadvantage to going with the Zync is that the rewards program is Membership Rewards Express which are much less valuable than the standard Membership Rewards when redeemed for travel.
Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13

agp
Centurion Member
Centurion Member
 
Posts: 709
Joined: Fri Apr 20, 2012 10:24 pm
Location: US&A

Postby agp » Sun Jul 08, 2012 8:07 pm

Another disadvantage of Zync is that it cannot be upgraded. Whereas Green can be upgraded to Gold/Plat, Gold can be upgraded to Plat, etc.

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

khaos
Green Member
Green Member
 
Posts: 20
Joined: Thu Oct 20, 2011 3:51 am
Location: Orlando

Postby khaos » Sun Jul 08, 2012 10:29 pm

Thanks for the responses. Given that I was denied months ago for the AMEX Blue Cash Everyday card, what are the chances that I will be accepted for the Green card even though I got the offer in the mail? and what kind of credit limit should I expect. When I was going through the process for the AMEX Blue Cash card I was told that the limit I'd get was around the $5000 mark before being declined. More importantly, I understand that a Charge card would help me establish a relationship with AMEX but will it impact my FICO scores in a good way or a charge card doesn't really make that much of a difference besides adding variety to the type of credit that you have? I am just trying to understand if it's worth it, or am I better off waiting for a better offer from AMEX.

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Mon Jul 09, 2012 1:29 pm

It will affect your scores in a positive way, assuming positive use of the card.

The limit is NPSL or no preset spending limit on all greens I have never heard of an exception on the Green. (Some Zyncs come with a limit if you are marginal in their eyes to be approved). Obvioiusly intenally you have a limit, you just don't know what it is.

If you really want Green, it's hard to guess but if they sent you an offer they see something they like. I got a "pre-approved" offer for Green in the mail of January of last year, app'd over the phone and was declined so by no means are you guaranteed anything. But if you got the offer your odds would be decent at least.

If you really want to improve your approval odds, you could apply for Zync. It's the easiest Amex to get. Green shouldn't be too much harder.

If you want an opinion, yes it's worth it, not only to build a date for backdating (get in as soon as possible and build your credit with them, then when you get the BCE it will backdate to your Green/Zync membership date) but also to build a credit relationship with them to get your BCE in 6 months or a year. And also keep in mind that once you are a member and have an open account, new applications are hard pulls only if you get approved, otherwise it's a soft pull, so then it will pay to re-apply with them as often as you can until you get your Blue since you lose nothing by being declined (except some hurt feelings no doubt).

Crashem
Centurion Member
Centurion Member
 
Posts: 538
Joined: Fri Mar 09, 2012 9:29 am
Location: San Francisco, CA

Postby Crashem » Mon Jul 09, 2012 7:47 pm

No way anyone can tell you your chances at approval with no info. Give us your credit scores (fico please) and what your credit profile looks like. Also, if mailed offer was preapproved (not preselcted or something else), your chances are probably pretty good. Zync can be upgraded after 13 months. Zync is easier to get approved on than green IMHO. Zync is inexpensive AF wise so if you are just looking to lock in member date and build positive history for BCE/BCP card in future, then go for Zync. If you really want MR points vs MR express points, then pay the extra AF and go for Green.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

agp
Centurion Member
Centurion Member
 
Posts: 709
Joined: Fri Apr 20, 2012 10:24 pm
Location: US&A

Postby agp » Mon Jul 09, 2012 7:56 pm

I thought Zync can't be upgraded?

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

Money card
Centurion Member
Centurion Member
 
Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Mon Jul 09, 2012 9:34 pm

AGP your 100% correct the zync can't be up graded. you can apply for a green but there would be a hard pull , if the person gets the green the account number would be different from the zync. the Zync is not upgradeable.

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Mon Jul 09, 2012 9:46 pm

He really only would benefit from the Green or higher if he plans to travel - if not, the Zync may be best with the lower fee (and a little easier to get). If he plans to upgrade, yes then the Zync may not be the best bet, though again from the standpoint it's the easiest Amex to get and anything in the future would be backdated, it could be worth it. I guess only he can know which is best for his circumstances, I truly have no idea but hopefully these posts will get him thinking.

Money card
Centurion Member
Centurion Member
 
Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Mon Jul 09, 2012 10:01 pm

Now for the original poster since you got turned down for there lending credit card the blue cash card, you got turned down for a chase Freedom and a Discover card. you can forget about this card for a while.

when it comes to higher interest cards they tend to be easier to get, for example I have the capital1 venture card gold version a supervisor told me 1 day that the Blue venture card which has a 13. something is a harder card to get than the gold which has a 17.90
when you look at which is harder to get the chase Freedom or a Chase Sapphire we know the Freedom has higher interest rate and the sapphire preferred is harder to get.

so in my opinion the Green card which targets better credit and more people who are vice presidents of large companys gets these cards.

t is true there are people who work in lumberyards and for social services have the green and the gold.
since the green is a premium credit card and the Blue cash is a lending credit card. the Blue cash is just a regular credit card. right now it might be hard for you to get. the Green card right now is hard for you to get.
I would forget about the green card.



Return to “American Express”

Who is online

Users browsing this forum: No registered users and 2 guests