topic Re: How much spending makes green worth it? in Credit Cards

How much spending makes green worth it?

E150GT — Tue, 08 Jan 2013 21:54:36 GMT

This November I got my first amex. The green card. I've started using it for all my expenses except at a few places that won't accept it. I've been putting about $1k a month on it. Is this really making the card worth it? I don't have a bunch of cards and want to make sure the ones I have are good. What do you guys with the green have to say about it? Thanks

Re: How much spending makes green worth it?

Anonymous — Tue, 08 Jan 2013 22:01:31 GMT

Not a green card holder.

The only good thing about the green card is it will help you land a Blue Cash Everyday, hopefully before the annual fee hits. Then you can close the green.

Re: How much spending makes green worth it?

pizzadude — Tue, 08 Jan 2013 22:04:43 GMT

@E150GT wrote:
This November I got my first amex. The green card. I've started using it for all my expenses except at a few places that won't accept it. I've been putting about $1k a month on it. Is this really making the card worth it? I don't have a bunch of cards and want to make sure the ones I have are good. What do you guys with the green have to say about it? Thanks

Is your AF waived for the first year ? After that you'll have to decide what to do with the MR Points before you can assess the beneft of the card versus the $95 AF. What are you going to do with them ?

Re: How much spending makes green worth it?

Anonymous — Tue, 08 Jan 2013 22:05:20 GMT

The Green card has a lot of nice benefits, the biggest is the NPSL

if you spend 25K you can get a free ticket on Delta, I booked one this week using 25K miles (MR points transfer 1:1 to Delta) it was a 900$ ticket that I got for free.

that translates into 3.5% back, not too shabby

Re: How much spending makes green worth it?

E150GT — Wed, 09 Jan 2013 01:10:28 GMT

The annual fee is waived. It seems travel is the best way to use the points I guess.

Re: How much spending makes green worth it?

Open123 — Wed, 09 Jan 2013 02:33:03 GMT

In my view, these days there is *no* reason to start out with the Green. The Green card is mainly for those who have lots of MR points, no longer spend much or travel, and need to maintain full MR Status.

For MR cards (no sign up bonus), you'd have to spend about $15 - $20K before reaping any significan benefits.

If you spend at that level as a new cardmember, the PR Gold and/or Platinum (fee isn't waived, but certainly almost pays for itself if you travel) with sign up bonuses are much better, especially since the first year fee is waived. Next year, you can downgrade to the Green to maintain MR, or cash out you points and cancel the card.

Re: How much spending makes green worth it?

E150GT — Wed, 09 Jan 2013 02:39:30 GMT

hmmm. Maye Ill use it for a year and then app for the BCE and cancel the green.

Re: How much spending makes green worth it?

Anonymous — Wed, 09 Jan 2013 04:14:42 GMT

@E150GT wrote:
hmmm. Maye Ill use it for a year and then app for the BCE and cancel the green.

Why not get a PRG then?

Re: How much spending makes green worth it?

ilovelisa — Wed, 09 Jan 2013 04:19:32 GMT

Save yourself the hassle, and don't get an Amex charge card. They rip you off with the annual fee, and there are many better revolving account options out there with better rewards.

Re: How much spending makes green worth it?

Revelate — Wed, 09 Jan 2013 06:28:52 GMT

@ilovelisa wrote:
Save yourself the hassle, and don't get an Amex charge card. They rip you off with the annual fee, and there are many better revolving account options out there with better rewards.

Honestly this does depend on both your spending profile, and also on your credit strata.

People on this forum have been openly skeptical to the point of online laughter when I state the Zync is an execellent card for me; however, when looked at rationally with my individual credit report and expenditures, it is was an obvious choice.

If I ever get a travel-oriented gig which has me booking my own travel on one of Amex's partner airlines, I'll absolutely be opening up one of the higher level charge cards.

Re: How much spending makes green worth it?

carlismycat — Thu, 09 May 2013 00:16:52 GMT

I'm confused. So would I need to spend a LOT to reap any benefits of this card,due to the $95 AF (after the first year) ? Is this a card that is , or IS NOT good for low spending? Thanks.

Re: How much spending makes green worth it?

Anonymous — Thu, 09 May 2013 00:33:56 GMT

@carlismycat wrote:
I'm confused. So would I need to spend a LOT to reap any benefits of this card,due to the $95 AF (after the first year) ? Is this a card that is , or IS NOT good for low spending? Thanks.

Clearly, as with almost any card, if you don't spend a lot it's hard for the rewards to offset any non-trivial AF. So it is not that good for low spending.

Open123's point was that some other Amex cards, such as the PRG, give much better rewards for a slightly greater AF, and the suggestion is that the Green is a good "exit" card, rather than an intro card, to be used when you have large amounts of rewards which you wish to keep (presumably during the redemption process) and this is the cheapest option that allows you to maintain full MR status.

Re: How much spending makes green worth it?

jsucool76 — Thu, 09 May 2013 00:38:19 GMT

No amex charge cards (or any amexes with an AF (or any card with an AF for the most part)) are good for low spenders. The point is, you pay the AF for better rewards and/or benefits which will offset the AF. if you aren't spending a lot, you aren't getting a lot of rewards, and if you aren't getting a lot of rewards, you aren't making your money back.

The only time an amex charge card is good for people who don't spend a lot (on the card) would probably be a plat if you happen to travel a lot. You get all of the benefits for the AF, but the rewards are lackluster.

Re: How much spending makes green worth it?

theoldnocreditmaster — Thu, 09 May 2013 00:39:04 GMT

To be honest the Green Card will damage your profile (to a degree). They only report your last purchase or balance as your high limit (for that reporting month). I only used it for fairly small purchases. $ 500 $800 etc. that could be paid every month.

When I had mine, the company I worked for had to make a purchase from a vendor they didn’t have an open account with. So I offered to use my card. $8400.00 in one charge.

Called them first, to make sure it wouldn’t be declined. They said ok to the charge. Got my expense check from my employer, and paid the ticket. Waited until it reported the CRA’s and the canceled the card. Kind of froze it in time if you will. (High limit of $8400.00 on a charge card) My score jumped about 40 pts. after closing the account.

Re: How much spending makes green worth it?

jsucool76 — Thu, 09 May 2013 00:42:09 GMT

Charge cards don't report a limit, and aren't factored into utilization (except for older scoring models) so they don't hurt your score. a visa siggy/WMC that doesn't report a limit, will damage your utilization though.

Also, you used a personal amex for a business purchase from a vendor, which I'm fairly certain could've triggered an FR and had your account closed for breaking their rules anyways.

Re: How much spending makes green worth it?

theoldnocreditmaster — Thu, 09 May 2013 00:55:09 GMT

Mine was reported as balance/equals high limit EACH MONTH. There was no credit limit to report.

I suggest you check yours. I called them first and told them I needed to make a heavy purchase (amount) and cleared it through them before doing so. They ok’d it. I paid the ticket and closed the account. My last transaction still shows as of this day. High balance/limit $8400.00

I think you’re mistaken.

Re: How much spending makes green worth it?

E150GT — Thu, 09 May 2013 01:19:47 GMT

I do know that while it does report the high balance as the last statement balance, it has never affected my score at all.

Re: How much spending makes green worth it?

theoldnocreditmaster — Thu, 09 May 2013 01:24:02 GMT

It does effect the score to a small degree as stated earlier. But with a manual review such as Simmons First, scores are only part of the deal. They see you racked up nearly 10k in one month and paid. Scores are not everything when it comes to credit.

Re: How much spending makes green worth it?

CreditScholar — Thu, 09 May 2013 03:09:31 GMT

I wouldn't bother with the Green unless you're spending around 18-20k per year or more through the card, 25-30k for the PRG.

The normal gold is virtually worthless given that it has a higher AF and the same point earning structure as the green.

Re: How much spending makes green worth it?

theoldnocreditmaster — Thu, 09 May 2013 03:22:43 GMT

Very well put....