Was upgraded to a Gold American Express premier rewards card from a regular green card.

[Anonymous]

So I called American Express today to add my son to my account and the representatiive told me about the upgraded Gold card so I upgraded. Does the Gold card require a better credit score or a longer history with American Express to obtain? He did say that the rewards were double that of the green card so this will assist in the future. Thanks

[bz386]

Did he also tell you that the annual fee will be double?

The requirements for the PRG are exactly the same as for any other charge card, including the Green.

[Anonymous]

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@Anonymous wrote:

So I called American Express today to add my son to my account and the representatiive told me about the upgraded Gold card so I upgraded. Does the Gold card require a better credit score or a longer history with American Express to obtain? He did say that the rewards were double that of the green card so this will assist in the future. Thanks

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No it doesn't require any better credit score or history.  All of the Amex charge cards from the Green to the Platinum have the same underwriting criteria.  I hope you were given reward points to upgrade because otherwise you would have been far better to just apply for the PRG under one of their offers for 50K MR points.

[r34dy2fly]

Not really. It has a higher annual fee and AmEx has been on a spree to upgrade their clients to a higher charge card. I'm sure it'll help with the relationship as you're paying them more now for an AF but it's not particularly harder to obtain. I have the PRG as well. I actually downgrade from the Platinum card last year but it looks like I might be getting another Platinum Card through Schwab for benefits. 

[r34dy2fly]

Just to add, I'm primarily upgrading because of the 40,000 bonus points and the Schwab relationship. 

[wasCB14]

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@r34dy2fly wrote:

Just to add, I'm primarily upgrading because of the 40,000 bonus points and the Schwab relationship. 

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I got Schwab Platinum for the same reason, but came to realize that $100 per year for $250k (or $200 for $1M) is peanuts in the world of brokerage promotions. Even $100k can get $500 or 50k miles if you move assets between accounts like I do.

Now, if you want simplicity and really like Schwab, then it's reasonable.

[Anonymous]

I personally like the added option to redeem MR to a cash deposit to your Schwab account at the slightly favourable rate.

[Anonymous]

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@Anonymous wrote:
I personally like the added option to redeem MR to a cash deposit to your Schwab account at the slightly favourable rate.

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Hey Pooka,

Do you know how many times are we allowed to PC? For example, say I went from the plaitnum then downgraded to the PRG and then later on I decided I want the plaitnum again am I able to PC back to it? Would PC back and forth cause any isses if its done too many times or it doesnt matter? I'm assuming as long as your account is good standing its fine?

[Anonymous]

That's a good question. Let us know!

[Anonymous]

The rep didn't lie.. the PRG is so much better than the Green even if the AF is higher.