- Centurion Member
- Posts: 3962
- Joined: Thu May 08, 2014 7:42 pm
- Location: United States
Vermonster wrote:I think if they drop the AF to $45 or even $75 like the BCP it instantly becomes a contender again. You have to remember that the charge cards are much easier to get than the credit cards. So for some there isn't the choice of an EDP.
Possibly...but it may be hard to have a long-term customer base of credit builders and re-builders. Look at how many reports there are of successful re-builders ditching high-fee cards from First Premier and Capital One. I really have to wonder how many people remain too high-risk for an ED/EDP, but are low-risk enough for Amex to issue Green cards.
Maybe Amex could give a statement credit equal to the annual fee (basically a predetermined retention bonus) if a person spent a certain amount (maybe $10k) on the Green card each year. It would be like waiving the AF for their serious customers, without explicitly saying they know the card isn't worth an AF to people who have good credit and spending power.
I like my Amex cards, but more due to the quantity of MRs I get than their cpp value. 1.5 to 4.5 really is a lot better than 1 on everything.
But maybe Amex is happy to have a lot of Green accounts, even if some of them are short-lived. Besides, most people don't constantly re-examine their cards to see if they can do better. They usually get something from a major bank (or their local bank) and keep it until they have a problem with it - especially if there's no annual fee.
The fact that Green is an Amex...and has the same basic look as traditional Amex charge cards...probably plays a factor.
Keeping indefinitely: IHG, SchwabPlat, CSP, Discover, Freedom, ED, BCE, Hyatt
May close or PC: Prestige, Arrival, BrooksBros
AA Platinum converting into Costco
Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech
Letting new accounts cool off since May