American Express Green card

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CarefulBuilder14
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Re: American Express Green card

Postby CarefulBuilder14 » Tue Jul 14, 2015 2:24 pm

morgacj2004 wrote:I was reading in another forum that their is speculation that AX might eventually D/C the Green card so better use those points now!

Why discontinue it? Are customers closing their card accounts in masses?

Green's a poor value for consumers, but it would seem to be highly profitable for Amex.
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Re: American Express Green card

Postby Vermonster » Tue Jul 14, 2015 2:32 pm

CarefulBuilder14 wrote:
morgacj2004 wrote:I was reading in another forum that their is speculation that AX might eventually D/C the Green card so better use those points now!

Why discontinue it? Are customers closing their card accounts in masses?

Green's a poor value for consumers, but it would seem to be highly profitable for Amex.


Green is still a poor value card, but with the recent changes to the Gold and PRG it has a very well defined place. If you don't fly a lot or eat out then the Green is a much better choice than the Gold. You would need to spend $6500 at restaurants and flights to warrant the increased AF of the Gold.
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Re: American Express Green card

Postby CarefulBuilder14 » Tue Jul 14, 2015 5:21 pm

Vermonster wrote:Green is still a poor value card, but with the recent changes to the Gold and PRG it has a very well defined place. If you don't fly a lot or eat out then the Green is a much better choice than the Gold. You would need to spend $6500 at restaurants and flights to warrant the increased AF of the Gold.

But what does the Green have to make it worth any AF for anyone? Sure, there's the NPSL consideration, but a lot of cards offer something similar with Visa Sig or World MC. Plus, with enough income and spending, the limit on an ED or BCE could grow very quickly.
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Limited value, might close: Arrival

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Vermonster
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Re: American Express Green card

Postby Vermonster » Tue Jul 14, 2015 8:10 pm

I would say it's benefits are dwindling. As you say there are so many very good no AF Visa and MC cards that are relatively easy to get (Freedom, It, QS, Venture, BoA 3,2,1, ect). But I think it still has the advantage of being easier to obtain, and carries the Amex reputation. You see people with low 600's get approved when you know they would struggle with a lot of other cards. But really, one would have to be fixated on having an Amex charge card to bother applying. It takes some mental gymnastics to make the green work for you.
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Re: American Express Green card

Postby CarefulBuilder14 » Wed Jul 15, 2015 3:25 pm

Vermonster wrote:I would say it's benefits are dwindling. As you say there are so many very good no AF Visa and MC cards that are relatively easy to get (Freedom, It, QS, Venture, BoA 3,2,1, ect). But I think it still has the advantage of being easier to obtain, and carries the Amex reputation. You see people with low 600's get approved when you know they would struggle with a lot of other cards. But really, one would have to be fixated on having an Amex charge card to bother applying. It takes some mental gymnastics to make the green work for you.

It's true that an Amex charge card is probably the most prestigious (in the less-informed eyes of the general population) card that a person can get with moderately bad credit. (As in 630-640 FICOs, although the report contents and Amex's internal score matter a lot.)
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Limited value, might close: Arrival

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Re: American Express Green card

Postby morgacj2004 » Wed Jul 22, 2015 6:34 pm

AX popularity and prestige is dwindling. We have now seen them lose several big partners including Costco. I prev had several AX cards including a Gold Rewards, Platinum and Optima. I don't like how AX treats customers, how quick they are to CLD and honestly they only seem to care about their VIP customers. I don't ever plan on getting another AX charge card again. Possibly a branded card in the future such as the Delta Sky Miles Gold but that is a maybe. They will hold onto the Green card as long as possible as that is the orig product and probably is still making them some money but in my opinion is one of the most undesirable of their cards.

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Re: American Express Green card

Postby Vattené » Thu Jul 23, 2015 11:59 am

I think they made the Green obsolete when they introduced MR-earning credit cards. They did a good job of making MR seem like a valuable system to get into, and the Green Card was the cheapest way to do that. Now, though? With the option to get an ED for no AF or an EDP that earns more MRs, why even bother with the Green? Hell, even an ED earns more than a Green. I just don't see any benefit. Other perks with charge cards are one thing, but why pay an AF for the privilege of having to pay your bill in full every month when you can do that for free anyway with any credit card?
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Re: American Express Green card

Postby Vermonster » Thu Jul 23, 2015 12:48 pm

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.
Last edited by Vermonster on Thu Jul 23, 2015 2:33 pm, edited 1 time in total.
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Re: American Express Green card

Postby Vattené » Thu Jul 23, 2015 2:24 pm

That is a good point. It would never be a priority for me if my credit was borderline, but there do seem to be a lot of people that are just desperate to "get in" with Amex. If Amex can get people to want a card that badly which doesn't offer much in return, then more power to them. It's a good market if you can get it.
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Re: American Express Green card

Postby CarefulBuilder14 » Thu Jul 23, 2015 6:56 pm

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.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card



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