So--after careful consideration and taking many of your opinions into account, I've made a decision
--I'm learning toward, keeping my AMEX Green but canceling after the year is up to avoid the annual fee. I already have the elite Chase Sapphire Preferred, which carries a 95 dollar fee now that I've had it for a year. I generally don't believe in the annual fee cards, but the CSP I made an exception for. The Green Card simply doesn't seem worth it--if by chance AMEX decides to do something radical with the Green Card after a year, I'll consider keeping it, but it doesn't seem worth it, and I certainly can't see myself justifying upgrade to the platinum or gold with its ridiculous fees. We'll see...
As it pertains to the Cash Magnet--what do you all know of the upgrade procedures and auto-CLIs generally at AMEX?
If I wanted to upgrade to the Blue Cash Everyday, is that a relatively easy process, and would it require a HP? They only started me with 1K with the Cash Magnet (still trying to figure that one out). Have any of you been able to procure an upgrade or auto-CLI from the Cash Magnet? Also--other stats regarding Cash Magnet usage: I've already spent nearly 1000 after under a month (to get the $150 statement credit), and will pay in full next pay period.
If this is your first Amex revolver card, you can request a 3x CLI after 61 days. It's always a SP. After that it's every 181 days.
Typically upgrades are not allowed until after the account is a year old. However, going from Cash Magnet to BCE may not technically be an upgrade since both have no annual fee. Doesn't hurt to ask. They won't pull your credit on a product conversion.
Any Amex card that carries an annual fee (like the Green), you'll want to hold onto it until it is at least a year old. Otherwise you risk possible adverse action from them.
Have any of you been able to procure an upgrade or auto-CLI from the Cash Magnet? Also--other stats regarding Cash Magnet usage: I've already spent nearly 1000 after under a month (to get the $150 statement credit), and will pay in full next pay period.
Not yet with Cash Magnet. Mine is still pretty new, and within the 6 month (181 day) window of my last increase on the BCP. It has been my experience that Amex likes to see use. I've had my BCP for about 2 years, and have had close to $11000 in CLIs; half of which were from a single auto CLI. I'm sure if you put money through it and PiF each month, the card will grow nicely.