@JoeRo wrote:
So I just got my amex green. When would I be able to upgrade it to a gold? I have no need for the platinum, and obviously the prg is the ultimate goal. But when can I upgrade to the basic gold?
From what I understand, if you were approved for the Green, you likely would have been approved for the Gold, PRG or Platinum (there are stories of people getting Platinum with $30k income). I think it makes sense - why do they care if you charge $200/wk or $2000/wk if you're paying the annual fee appropriate to the benefits you're receiving.
Regardless, I don't believe you can upgrade until one year has passed due to the Card Act restrictions on "hiking" annual fees within the first twelve months. On the other hand, if you want the PRG, ask for it, not the Gold (I see no reason someone would want the Gold other than they want a card that is gold colored but not as expensive as the PRG).
On the other hand, you may be better off applying for a new PRG the January after you are eligible to upgrade. Presumably, your Green card has a date of 11/2012. Your new PRG would be dated 01/12, then (assuming you'd open it 01/14), with two years of "history", due to the way Amex backdating works. Then, you would close your Green and collect on the sign-up bonus on the PRG (right now worth somewhere around of $250+, depending on what you spend it on). The Green will continue to report for 10 years on your account, so it'll still anchor your AAoA to around 2012, but you'll get the benefits of the PRG, the sign-on bonus of the PRG and all it will cost you is a new account reporting and a new inquiry on Ex.
Big assumption here is that Amex backdating still works in 2014. On the other hand, in the long run, 2 years of history (if it doesn't backdate) isn't going to make much of a difference in the life span of the account (let's assume at least 5+ years), while your actual rewards will likely be dwarfed by the 25000 point sign-on bonus. I make this assumption assuming that if you had the annual spending to justify the PRG right now, you would have applied for it rather than the Green (so let me know if I'm mistaken).
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@JoeRo wrote:
I definitely don't spend enough to justify the prg. And I want the gold pretty much for the look of it. I don't spend much anyway, maybe 10k a year on my cards. So prg isn't necessary.
While to each there own, I would (humbly) suggest that this is a bad idea. Nobody really cares whether you pay with a Green or a Gold card. IMO, the only reason for having a Green card is to establish a payment history/relationship with Amex that you later translate into a good rewards card (e.g. PRG, BCP, Starwood, etc.) in a year or two. The Gold adds $30/yr in fees with very little tangible benefits - if you travel, you can take advantage of the Gold Hotel Collection (some sort of $75 credit, not on the room or fees or taxes, to some sort of hotel collection), enhanced "roadside assistance" (i.e. we call you a tow truck and charge it to your account -- you should just get AAA) and "entertainment access" (whatever that is). All of these are kind of nebulous benefits, not quantifiable like "get 25000 points to sign up" or "get double points on gas and grocery".
Regardless, I'm positive you'll be eligible to upgrade, if you account is in good standing, after your statement cuts in November (or December) 2013.
@patsfan1453 wrote:I don't see the 25k sign up bonus for the PRG anymore.
Oh. It's still there.
https://www304.americanexpress.com/credit-card/premier-rewards-gold/25330
