Do I NEED an Amex Green?

For just about anything you want to get off your chest about credit cards.
11 posts
dcd
Green Member
Green Member
 
Posts: 4
Joined: Mon Apr 24, 2017 10:47 am

Do I NEED an Amex Green?

Postby dcd » Mon Apr 24, 2017 11:09 am

All -

First of all, Howdy! New member here! I have a question - do I NEED an Amex Green card?

I'll admit to being pretty old-school -- I grew up in the "conspicuous consumption" 80's. Had an Amex Green way back then, mismanaged it (again, in the 80's) , and you know how the story goes.

Since then, I've become much more astute about credit and am rebuilding things quite nicely. Currently I have 2 Capital One cards with $5000 limit each. I have a WF Visa w/$5000 limit and I recently received an Amex/Delta Skymiles card, also with a $5K limit. My total balance across those cards is about $1,300 (which I balance-transferred to the 0% Cap One card.) For what it's worth, I am not a big "points" guy -- I don't spend a lot of time maximizing this offer or that offer or churning cards. I do however, like the idea of perks (free checked bags, club access, hotel room upgrades, etc.).

I only use my credit cards for personal travel or large/special purchases and I will typically pay them off in 3-6 months. I pay cash (via Debit card) for everything else. I usually spend less than $10,000 per year on personal travel. I do a limited amount of travel for work (2-3 overnights per quarter) and that is all paid for via my Company-issued Corporate American Express.

Now, as I mentioned before, I am a little "old-school" and a little voice in the back of my head says, "You need to have your own American Express card 'just-because' -- this is just how things work." Another voice says, "You already have one, idiot -- it's your Delta Skymiles card!"

If I had my 'druthers, I'd carry an Amex Platinum just for the travel perks (which WOULD use) but I don't think I can get approved for one right now --
my income is more than high enough but my credit score is shy of the 715 I hear that one needs for Platinum. The Amex website currently shows me pre-qualified for the Green. Should I snag it and hope for the upgrade later or just wait?

Or do I even need another Amex at all?


User avatar
kcm7
Centurion Member
Centurion Member
 
Posts: 356
Joined: Wed Feb 19, 2014 10:05 pm
Location: TX

Re: Do I NEED an Amex Green?

Postby kcm7 » Tue Apr 25, 2017 10:30 am

You seem to have an emotional desire for an Amex, but with the Green card, you're getting sub-par rewards for $95 a year. To me that would not be worth it, since I see credit cards as a tool that has to serve me. If you were building credit and had no other options, then I'd say maybe get a Green. But it looks like you have other cards and are on your way to qualifying for the best cards (once your score improves).

I've never been an Amex person, so I don't know if getting a Green card would help you "get in the door" or not. But I'd just wait til my score got higher and then go for the Amex card I actually want -- and the better sign-up bonus that would probably come with it.
Cards:

-Capital One Quicksilver
-Barclaycard Arrival (no AF)
- US Bank (no rewards)
-IHG

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4495
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Do I NEED an Amex Green?

Postby CarefulBuilder14 » Tue Apr 25, 2017 11:32 am

The only significant benefit a Green would offer in excess of a Delta card is the spending power of NPSL...but it sounds like you don't spend enough on that card to need it.

Also, I assume you mean a Delta Gold and not Delta Platinum or Delta Reserve. If you have a Delta Reserve, closing it (or downgrading to Delta Gold or Delta Platinum) and replacing it with a Platinum charge card probably makes sense.

Platinum is not just another Amex, so don't let that discourage you if the card works for you.

What corporate Amex do you have?

The approval criteria for all the personal charge cards is similar. Go for Platinum is that's what makes sense for you. It will probably just be a soft pull if they decline you, anyway. A $5k CL is some indication that they only have limited concerns about your credit. If they'd given you a $2k CL then that might be cause for a bit more caution.

Whether you want to pay $550 for premium travel perks and potentially non-essential award travel while you're still carrying a balance on a different card is another question, but only you have the full picture.
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

dcd
Green Member
Green Member
 
Posts: 4
Joined: Mon Apr 24, 2017 10:47 am

Re: Do I NEED an Amex Green?

Postby dcd » Tue Apr 25, 2017 11:55 am

kcm7 wrote:You seem to have an emotional desire for an Amex ...
Guilty :oooo

CarefulBuilder14 wrote: ... Also, I assume you mean a Delta Gold and not Delta Platinum or Delta Reserve ...
Yes, I have a Delta Gold.

CarefulBuilder14 wrote: ... What corporate Amex do you have?
My corporate Amex is Green and as you know, its strictly for work-related expenses. I'm pretty sure that's the only one my firm issues to anyone below the ELT.

Based on what I'm hearing, if I want a Platinum then I should either apply for it now or wait awhile and apply for in 6 months but don't take the intermediate step (or step back) to a Green.

Here's a follow-on question: Does the (presumably good) payment history one might build with the Delta Gold provide any traction with Amex toward qualifying for the Gold or Platinum charge cards?

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4495
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Do I NEED an Amex Green?

Postby CarefulBuilder14 » Tue Apr 25, 2017 3:33 pm

dcd wrote:
kcm7 wrote:You seem to have an emotional desire for an Amex ...
Guilty :oooo

CarefulBuilder14 wrote: ... Also, I assume you mean a Delta Gold and not Delta Platinum or Delta Reserve ...
Yes, I have a Delta Gold.

CarefulBuilder14 wrote: ... What corporate Amex do you have?
My corporate Amex is Green and as you know, its strictly for work-related expenses. I'm pretty sure that's the only one my firm issues to anyone below the ELT.

Based on what I'm hearing, if I want a Platinum then I should either apply for it now or wait awhile and apply for in 6 months but don't take the intermediate step (or step back) to a Green.

Here's a follow-on question: Does the (presumably good) payment history one might build with the Delta Gold provide any traction with Amex toward qualifying for the Gold or Platinum charge cards?

I'd go ahead and apply for Platinum now (assuming the time is right as far as using the perks, getting a good bonus with minimum spend you can meet, and paying the AF). I wouldn't wait just because you think your odds are low. I think your odds are good and there's extremely limited downside to being denied.

In considering applications, Amex looks very favorably on history you already have with them.
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

dcd
Green Member
Green Member
 
Posts: 4
Joined: Mon Apr 24, 2017 10:47 am

Re: Do I NEED an Amex Green?

Postby dcd » Tue Apr 25, 2017 3:41 pm

CarefulBuilder14 wrote: ... go ahead and apply for Platinum now ...

That's exactly what I did about 30 minutes ago (before reading your reply, I might add) -- and I got approved! :lift:

Ain't that a kick in the head???

Tubpbs
Centurion Member
Centurion Member
 
Posts: 1066
Joined: Mon Oct 19, 2015 2:08 pm

Re: Do I NEED an Amex Green?

Postby Tubpbs » Tue Apr 25, 2017 5:21 pm

I agree with Carefulbuilder 100% here.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

User avatar
kcm7
Centurion Member
Centurion Member
 
Posts: 356
Joined: Wed Feb 19, 2014 10:05 pm
Location: TX

Re: Do I NEED an Amex Green?

Postby kcm7 » Tue Apr 25, 2017 5:56 pm

dcd wrote:
CarefulBuilder14 wrote: ... go ahead and apply for Platinum now ...

That's exactly what I did about 30 minutes ago (before reading your reply, I might add) -- and I got approved! :lift:

Ain't that a kick in the head???


Nice! Congrats!
Cards:

-Capital One Quicksilver
-Barclaycard Arrival (no AF)
- US Bank (no rewards)
-IHG

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 4495
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Do I NEED an Amex Green?

Postby CarefulBuilder14 » Tue Apr 25, 2017 6:37 pm

Good! Now remember to use it instead of your debit card.

I assume you got the 60k points for $5k spend in 3 months offer?
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

dcd
Green Member
Green Member
 
Posts: 4
Joined: Mon Apr 24, 2017 10:47 am

Re: Do I NEED an Amex Green?

Postby dcd » Wed Apr 26, 2017 10:34 am

CarefulBuilder14 wrote: ... I assume you got the 60k points for $5k spend in 3 months offer?

Yes. Hopefully I'll be stacking those points on top of the ones I earn from the Delta Skymiles card.



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 3 guests