American Express Green Card - Good for a newbie?

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istfan
 
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American Express Green Card - Good for a newbie?

Postby istfan » Fri Apr 11, 2014 12:23 am

I am currently a third year college student (21 yrs old) and was recently approved for the American Express Green card. This will be my first credit card and I am definitely looking forward to be apart of the Amex family. From what I understand the Green card is a solid basic use card and that's what I need since I won't be needing travel rewards and other rewards of that nature.

This is just from what I understood but I read mixed responses on the card from other websites on Google but I am hoping to hear some responses from veteran credit card holders and experts like you guys on this forum :) . With this I was wondering two things:

- Is the Amex Green Card a good card for a person my age/younger person
- How does the Amex Green Card fare overall?

Any feedback is greatly appreciated


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Dr.Mark
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Postby Dr.Mark » Fri Apr 11, 2014 2:06 pm

That's what got me in the AmEx World too and I couldn't have been more happier. I got the PRG since beginning of March now and I'm going to close the Green tomorrow but it'll always have a special place in my heart. She's been the first.
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Postby mdl28 » Fri Apr 11, 2014 7:57 pm

Its a great card. Just know you must pay in full each month. Don't let this feature get you in trouble. Just because it has no limit does not make you the big man on campus. And start picking up the bar tab every night. Use it wisely and it will pay off in the future. I miss my Amex Green, it looks so sharp. I still have it in my backup wallet just for kicks.
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nismoZtuner
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Postby nismoZtuner » Fri Apr 11, 2014 8:42 pm

istfan wrote:I am currently a third year college student (21 yrs old) and was recently approved for the American Express Green card. This will be my first credit card and I am definitely looking forward to be apart of the Amex family. From what I understand the Green card is a solid basic use card and that's what I need since I won't be needing travel rewards and other rewards of that nature.

This is just from what I understood but I read mixed responses on the card from other websites on Google but I am hoping to hear some responses from veteran credit card holders and experts like you guys on this forum :) . With this I was wondering two things:

- Is the Amex Green Card a good card for a person my age/younger person
- How does the Amex Green Card fare overall?

Any feedback is greatly appreciated


Age 20..

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istfan
 
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Postby istfan » Fri Apr 11, 2014 11:41 pm

mdl28 wrote:Its a great card. Just know you must pay in full each month. Don't let this feature get you in trouble. Just because it has no limit does not make you the big man on campus. And start picking up the bar tab every night. Use it wisely and it will pay off in the future. I miss my Amex Green, it looks so sharp. I still have it in my backup wallet just for kicks.


Thanks for the replies everyone, good to hear most of you guys have had a great experience with the card. Also thanks for bringing this up Dr. Mark because I wanted to mention a question I had initially regarding the fact that its a charge card not a credit card. So as far as the Green Card being a charge card will it help me build my credit even though there isn't a preset limit? I have also been reading mixed responses on the web regarding this issue and I am hoping to get a solid answer to it.

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Postby hematino » Sat Apr 12, 2014 1:37 pm

Green is an alright card, but when I had one it didn't see heavy spending versus the competition in my wallet. The annual fee is a little steep for the return, only one MR point per dollar spent period. The new Every Day card is a better deal in my opinion since it: 1) has zero annual fee, 2) slightly outearns the Green with MR points, 3) has all the same Amex perks and service as Green, and 4) comes with a spending target bonus for new cardholders, which Green usually doesn't have.

The only thing which could be argued for Green being better than the regular Every Day card is that its a charge card vs revolving limit card, and even then its a matter of personal preference.
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Postby travisrauh » Sat Apr 12, 2014 2:00 pm

I think you'll enjoy the Green Card. It really, though, depends on your preferences.

Do you like the peace of mind knowing you have no pre-set spending limit? Do you always like to pay in full? Do you anticipate, in the future, wanting the benefits of Gold, Platinum or even Centurion? Are Membership Rewards going to satisfy your particular reward preference? Is this going to be your primary card? Or only used for certain things?

These questions are what I asked my brother, your age, before suggesting the Green Card for him. Please don't hesitate to ask here if you have any questions - and never hesitate to call the number on the back of your card. We love chatting with you!
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thom02099
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Postby thom02099 » Sat Apr 12, 2014 7:23 pm

Got my very first Greenie back when I was young and foolish...in 1976. I didn't treat it responsibly and it went away.

You're young, and hopefully not as foolish as I was! By discovering a place such as this, and asking questions, you'll determine for yourself if the Green is a good choice for you. My suggestion would be to simply treat it like you would a debit card and pay charges shortly after they are made. Don't let your balance build up, thinking you can pay it off later, after it's grown. If you establish a good pattern, that AMEX Green will be your friend, and will hopefully lead to other AMEX friends at some point, if that's what you want. But the bottom line is, only you can determine if the card is a value to you, depending on your expectations and needs.
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Postby rockyrock » Sun Apr 13, 2014 12:52 am

istfan wrote:Thanks for the replies everyone, good to hear most of you guys have had a great experience with the card. Also thanks for bringing this up Dr. Mark because I wanted to mention a question I had initially regarding the fact that its a charge card not a credit card. So as far as the Green Card being a charge card will it help me build my credit even though there isn't a preset limit? I have also been reading mixed responses on the web regarding this issue and I am hoping to get a solid answer to it.


The Green Card is $95 a year; as long as you have nothing better to spend that money on and you can take advantage of the card benefits it's probably a good fit for you.

There are lots of variables when it comes to your credit score. On charge cards it is assumed that your highest reported balance is your "limit." In order for it to not hurt your score you need to let it report high once then never let it report above 20% - 30% after that. For example let your statement close with a $2000 balance and hopefully that will get reported. After that never let your statement close or go past the reporting date with a balance higher than $600. Does that make sense?

Not everyone can do this so this is where it becomes important to have a few other cards with very low or no carried balance. Amex also isn't accepted everywhere so having a card that runs on another network (Visa, MC or Discover) is a good idea. Pick up a no AF card from whoever you bank with and maybe a Discover.

As always YMMV.
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Postby jdauria » Mon Apr 14, 2014 7:35 am

Green is perfect for young adults. If your not into "getting the most rewards possible" and more focused on building a your credit history with an outstanding company that provides protection to its card holders, than this is the card for you. I have it, and I love it. I don't use it everyday, only on the bigger ticket items. It gives me peace of mind that I have a NPSL card in my wallet just in case of emergencies.
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