topic Re: Closing Amex Green Card - Data Point in Credit Cards

Closing Amex Green Card - Data Point

UncleB — Mon, 28 Mar 2016 17:35:34 GMT

Many of the 'old timers' on here probably already know this, but for any new folks I wanted to share that if you need to close an American Express card you can do so via chat, and it's painless.

It took maybe all of two minutes, and the CSR was extremely professional and courteous. He asked one time why I wanted to close the card, and I simply stated the truth... that the Blue Cash Preferred card is a better match for my spending habits. He simply replied that he respected my decision, and after a few disclaimers it was done.

Easy-peasy.

The Green card isn't a bad product (and I was absolutely thrilled to get it last April) but it just doesn't fit with my current spending patterns. If my needs change (hey, it can happen...) I'll likely just app for the PRG instead, especially since the PRG will allow you to have an additional card for no additional fee. That combined with the other 'perks' would actually make the PRG come out cheaper than the Green with an additional card (at least for me). This assumes they would approve me for the PRG, of course.

My signature looks a bit 'bare' at the moment (I had really gotten used to seeing that logo down there) but it's for the best.

Re: Closing Amex Green Card - Data Point

Mattopotamus — Mon, 28 Mar 2016 17:42:53 GMT

The green card really needs to be phased out. Now that they have actual credit cards, many without an annual fee, I cannot see the point of the green card or the gold card for that matter. The Gold preferred and platinum have a place, but the former seem useless.

Re: Closing Amex Green Card - Data Point

UncleB — Mon, 28 Mar 2016 17:51:11 GMT

@Mattopotamus wrote:
The green card really needs to be phased out. Now that they have actual credit cards, many without an annual fee, I cannot see the point of the green card or the gold card for that matter. The Gold preferred and platinum have a place, but the former seem useless.

I certainly see your point. The only good candidate for the Green card (that I can think of) is somebody who just needs a NPSL charge card for a special purpose, for example to keep an authorized user from having access to an actual 'credit line' (college kid, family member, etc.). Something about knowing up-front that revolving isn't an option seems to keep some folks in line.

For someone not interested in rewards at all, $95 + $30 is more reasonable than the PRG fee of $195, but I freely admit this likely describes a very small group of people... most folks (especially on here) really would do better to get the PRG.

Re: Closing Amex Green Card - Data Point

Anonymous — Mon, 28 Mar 2016 17:53:33 GMT

I too think it's basically a useless card for the vast majority of people. I think a lot of people get it because they think it's easier to get approved for than their other charge cards when it fact they all have the same underwriting criteria.

Re: Closing Amex Green Card - Data Point

DoroLucky — Mon, 28 Mar 2016 17:56:16 GMT

@UncleB wrote:
@Mattopotamus wrote:
The green card really needs to be phased out. Now that they have actual credit cards, many without an annual fee, I cannot see the point of the green card or the gold card for that matter. The Gold preferred and platinum have a place, but the former seem useless.
I certainly see your point. The only good candidate for the Green card (that I can think of) is somebody who just needs a NPSL charge card for a special purpose, for example to keep an authorized user from having access to an actual 'credit line' (college kid, family member, etc.). Something about knowing up-front that revolving isn't an option seems to keep some folks in line.

For someone not interested in rewards at all, $95 + $30 is more reasonable than the PRG fee of $195, but I freely admit this likely describes a very small group of people... most folks (especially on here) really would do better to get the PRG.

Actually $175, mine just hit

Re: Closing Amex Green Card - Data Point

UncleB — Mon, 28 Mar 2016 18:06:19 GMT

@DoroLucky wrote:
@UncleB wrote:
@Mattopotamus wrote:
The green card really needs to be phased out. Now that they have actual credit cards, many without an annual fee, I cannot see the point of the green card or the gold card for that matter. The Gold preferred and platinum have a place, but the former seem useless.
I certainly see your point. The only good candidate for the Green card (that I can think of) is somebody who just needs a NPSL charge card for a special purpose, for example to keep an authorized user from having access to an actual 'credit line' (college kid, family member, etc.). Something about knowing up-front that revolving isn't an option seems to keep some folks in line.

For someone not interested in rewards at all, $95 + $30 is more reasonable than the PRG fee of $195, but I freely admit this likely describes a very small group of people... most folks (especially on here) really would do better to get the PRG.
Actually $175, mine just hit

You must be grandfathered at an old rate... the new rate is $195 for the PRG. The 'regular' Gold is $160 for new card members.

Re: Closing Amex Green Card - Data Point

Anonymous — Mon, 28 Mar 2016 18:07:58 GMT

Why would they phase it out if people are willing to pay for it?

Re: Closing Amex Green Card - Data Point

Anonymous — Mon, 28 Mar 2016 18:13:07 GMT

@Anonymous wrote:
Why would they phase it out if people are willing to pay for it?

They're not going to phase it out. To a lot of people, the Green card is Amex and vice versa. It just doesn't have the value of the other cards.

Re: Closing Amex Green Card - Data Point

ddemari — Mon, 28 Mar 2016 18:36:00 GMT

Like Irish said, they are not going to phase it out. The Amex green card is well recognized as the Amex brand and most people will know about the Green Card over the gold cards etc. It is true that the value of the green card is pretty low unless you travel a lot, there is not a good was to justify the annual fee of it.

Re: Closing Amex Green Card - Data Point

Sharingan — Mon, 28 Mar 2016 18:43:01 GMT

I don't think it should be discontinued. I think they should give the Green card a slight reward structure (2x MR for travel and restaurants?) and perhaps a $40-50 reimbursement for travel incidentals. The card occasionally has a 25k (I believe) sign up bonus every so often, so perhaps AmEx should make it a permanent public offer. As for the regular Gold (not PRG), I don't really know what purpose that is serving.

Personally, I am so glad to have an unrestricted AmEx Zync card with a high exposure limit because I enjoy having a charge card, but not enough to justify the Green's AF.

Re: Closing Amex Green Card - Data Point

UncleB — Mon, 28 Mar 2016 18:55:44 GMT

@Sharingan wrote:
I don't think it should be discontinued. I think they should give the Green card a slight reward structure (2x MR for travel and restaurants?) and perhaps a $40-50 reimbursement for travel incidentals. The card occasionally has a 25k (I believe) sign up bonus every so often, so perhaps AmEx should make it a permanent public offer. As for the regular Gold (not PRG), I don't really know what purpose that is serving.

Personally, I am so glad to have an unrestricted AmEx Zync card with a high exposure limit because I enjoy having a charge card, but not enough to justify the Green's AF.

Actually, I would think the Zync would be perfect for many people who are interested in a NPSL card with little to no rewards, but much like Capital One Amex seems only interested in pushing rewards cards these days. Actually, if a no-MR "senior" card was still available that would have been (nearly) perfect, but unfortunately it's not.

I mention Cap One since up to around a year ago, I was pre-qualified for a no-frills 'Platinum' MasterCard with a low-APR (several points lower than Venture and QS). Now that card is only offered at a high APR to builder/rebuilder folks. I assume it's at least partially due to the higher swipe fee rewards cards get, at least in the case of Capital One. Since generally Amex fees are already (generally) higher for merchants, I'm not sure what their reasoning is... we can only speculate.

Re: Closing Amex Green Card - Data Point

Anonymous — Mon, 28 Mar 2016 21:59:58 GMT

Thanks for sharing!

Re: Closing Amex Green Card - Data Point

NRB525 — Tue, 29 Mar 2016 02:27:33 GMT

@Mattopotamus wrote:
The green card really needs to be phased out. Now that they have actual credit cards, many without an annual fee, I cannot see the point of the green card or the gold card for that matter. The Gold preferred and platinum have a place, but the former seem useless.

Corporations are all over the Green Card for their employees to use for travel expenses, because the expense records route into the corporate travel cost management portals that are necessary to track business expenses for both accounting and oversight.

Green card not going away

Re: Closing Amex Green Card - Data Point

jsucool76 — Tue, 29 Mar 2016 11:28:59 GMT

While I agree that the green card needs to either be phase out or beefed up, I also agree it's probably not going anywhere.

At $195 (for new cardholders) the prg trumps the green card in every way. After that $100 airline credit, you're basically at 95$ and the rewards structure is so much better.

Sometimes the green card gets a decent sign up offer, but other than that, totally useless.

Re: Closing Amex Green Card - Data Point

UncleB — Tue, 29 Mar 2016 17:59:30 GMT

@jsucool76 wrote:
While I agree that the green card needs to either be phase out or beefed up, I also agree it's probably not going anywhere.

At $195 (for new cardholders) the prg trumps the green card in every way. After that $100 airline credit, you're basically at 95$ and the rewards structure is so much better.

Sometimes the green card gets a decent sign up offer, but other than that, totally useless.

I agree completely; in my own case, I would like to get an AU card for a family member, but there's an additional fee for the Green card but no additional fee for the PRG, so the PRG actually comes out cheaper (again, after you figure the airline credit).

I didn't know any better when I got it, but thankfully I've since been able to 'cure' that problem... LOL. Also thanks to the folks on here, I had the good sense not to PC the Green to a PRG, but to simply apply for it at a later time, since I would have given up the 1st year AF being waived and the new account bonus (I didn't get one for the Green).