topic Re: Amex green! Help!! in Credit Cards

Amex green! Help!!

ap84 — Wed, 30 Jul 2014 15:37:16 GMT

Hello all

I am posting this for my sister. She just texted me and told me that she just got an email from Amex. She has had the Amex green card for two months. They never gave her a standard credit limit. She charged $2700 so far and made a payment of $315 on the dforsy statement and $200 on the second statement . These payments were on time. Why would they close her account? How does this effect her credit score. Who can she talk to possibly keep the card open. She is new to credit and she has been doing well so far! HELP!

Re: Amex green! Help!!

Jarnog — Wed, 30 Jul 2014 15:40:36 GMT

I am no expert, but isn't the green card a charge card? Meaning that whatever is charged needs to be paid in full when the statement cuts.

So if she charged $2700 then she should have made payments totaling the full $2700 by the time the statement cut. Again, I don't have experience with Amex and with charge cards in general, but this is what I understand them to be. So that could be the reason for the closure.

Maybe get into a secured chat with them, or give them a call? But just from my basic understanding, this is the likely reason for closure.

Re: Amex green! Help!!

peepers — Wed, 30 Jul 2014 15:41:28 GMT

Others more knowledgeable will hopefully chime in, however my understanding is the green charge, you have to pay the balance in full each month.........its not a revolver.

Re: Amex green! Help!!

AzaleaB — Wed, 30 Jul 2014 15:44:10 GMT

Yes the Amex green card is a *charge* card - not a credit card. It has to be paid in full each month.

Re: Amex green! Help!!

AvadaKedavra — Wed, 30 Jul 2014 15:44:46 GMT

Green card is a charge card. Like everyone else is saying, each statement needs to be paid in full. She should probably call AMEX right away to try and sort it out.

Re: Amex green! Help!!

tattooedhusker — Wed, 30 Jul 2014 15:44:48 GMT

@Jarnog wrote:
I am no expert, but isn't the green card a charge card? Meaning that whatever is charged needs to be paid in full when the statement cuts.

So if she charged $2700 then she should have made payments totaling the full $2700 by the time the statement cut. Again, I don't have experience with Amex and with charge cards in general, but this is what I understand them to be. So that could be the reason for the closure.

Maybe get into a secured chat with them, or give them a call? But just from my basic understanding, this is the likely reason for closure.

This is correct. They closed the account because the payments weren't in full. She must have gotten confused and thought it was a revolving card, which it is not.

Re: Amex green! Help!!

ap84 — Wed, 30 Jul 2014 15:48:16 GMT

She is not in the position to pay in full. What can she do?

Re: Amex green! Help!!

Stralem — Wed, 30 Jul 2014 15:48:39 GMT

Hahaha...

Charge vs credit. Read up, amigo.

Your sis just defaulted and her credit is going to nosedive.

Re: Amex green! Help!!

Creditaddict — Wed, 30 Jul 2014 15:54:07 GMT

@ap84 wrote:
She is not in the position to pay in full. What can she do?

she need sto call amex right now and tell them she did not understand and she wants to pay this for sure but she can't do it all at once... they will set her up on payment plans and if she does that they will probably even keep from reporting to her credit and if she follows through with the payment plan can come out on the other side unharmed (credit wise and down the road get an amex again *when she better understands what she is getting)

Re: Amex green! Help!!

tattooedhusker — Wed, 30 Jul 2014 15:55:21 GMT

@Stralem wrote:
Hahaha...

Charge vs credit. Read up, amigo.

Your sis just defaulted and her credit is going to nosedive.

Not really something to laugh at. But her credit is going to be hit.

Re: Amex green! Help!!

ap84 — Wed, 30 Jul 2014 15:59:18 GMT

Tattooedhusker - do you have something better to do than to be so negative.. Do me a favor don't comment anymore!

Re: Amex green! Help!!

pip3man — Wed, 30 Jul 2014 16:06:11 GMT

That was the worse mistake your sister ever made, more like shooting yourself in the foot. The AMEX Green is a charge card meaning every penny in balance has to be paid in full by the due date or on/before the close of the billing cycle. One reason I hate charge cards and will never mess with them. It's unlikely AMEX may reopen the account at this time cos that is a serious default in the terms & agreement. She may wanna try speaking to someone to see what options that are available however I think her chances of reopening are slim at this time - once they shut down the account. So all she wanna do right now is look for every means to pay back that balance like ASAP. Sorry she learned the hard way

Re: Amex green! Help!!

ap84 — Wed, 30 Jul 2014 16:06:16 GMT

She just called and she has 30 days to pay the balance in full.

Re: Amex green! Help!!

pip3man — Wed, 30 Jul 2014 16:09:32 GMT

And did they give her the option of reopening, OP?? So right now she gotta get on her feet to gather up the remaining balance to meet the payment deadline. Good luck to sis!!!

Re: Amex green! Help!!

Stralem — Wed, 30 Jul 2014 16:12:38 GMT

@tattooedhusker wrote:
@Stralem wrote:
Hahaha...

Charge vs credit. Read up, amigo.

Your sis just defaulted and her credit is going to nosedive.
Not really something to laugh at. But her credit is going to be hit.

Yeah, it's terrible that this happened, but I see this all the time. Here, FlyerTalk, NerdWallet, Credit Karma, etc, where people fail to grasp the difference between charge and credit and cry crocodile tears (or post angry tirades) when they end up defaulting on their shiny new card.

It's like... Do these people not read? Nevermind a quick Google search, Amex themselves spell out the differences pretty clearly on every page leading up to the actual application form.

Re: Amex green! Help!!

tattooedhusker — Wed, 30 Jul 2014 16:27:42 GMT

@ap84 wrote:
Tattooedhusker - do you have something better to do than to be so negative.. Do me a favor don't comment anymore!

I think you have me mistaken? Maybe the text I quoted?

Re: Amex green! Help!!

barbaralee — Wed, 30 Jul 2014 16:32:20 GMT

I wonder how often Amex CSRs see this... I bet this happens a lot. Sorry that happened to your sister, but I think it is a lesson learned that you should thoroughly educate yourself on what you are signing up for ESPECIALLY in regards to credit.

Re: Amex green! Help!!

Anonymous — Wed, 30 Jul 2014 16:36:00 GMT

Dosent Amex now offer pay over time? Or is that per purchase? I don't know I pay my PRG in full. If I was her I would try to get approved for a CC with another bank and do ballance transfer. At least she can protect her CR that way.

Re: Amex green! Help!!

barbaralee — Wed, 30 Jul 2014 16:37:43 GMT

Yeah, but if she is new to credit she may not be able to get a credit line as high as 2700. Charge cards are generally easier to get than credit cards. Can she borrow any money from family? Or call Amex and see if they could give her longer than 30 days?

Re: Amex green! Help!!

elim — Wed, 30 Jul 2014 16:39:34 GMT

It would be real nice to convert the balance to an amex revolver. But, i think that would have needed to be done before the default (if even posible). Damn, that is a shame. "closeed by issuer" has already hit her reports i'm sure. Has her score dived?