Monday, 26 October 2020

American Express Green Card Review

American Express Green Card Review
20 Nov
1:02

The iconic American Express® Green Card has undergone a fresh makeover. Thanks to a revamp that rolled out in October 2019, the American Express® Green Card is now a compelling choice for those who want rewards and perks for travel, but aren’t ready to shell out for a premium travel card with an annual fee in the $500 range. This card does charge a $150 annual fee, but if you take full advantage of the annual credits you get for having it, you can mitigate the cost of the annual fee.

Plus, the new card is made mostly out of plastic reclaimed from beaches, islands, and coastal communities — so it can be considered “green” both in color and environmentally.

Where the American ExpressÂŽ Green Card stands out

American ExpressÂŽ Green Card

American ExpressÂŽ Green Card

APPLY NOW Secured

on American Express’s secure website

Terms Apply | Rates & Fees

American ExpressÂŽ Green Card

Annual fee
$150
Rewards Rate
Earn 3X Membership RewardsÂŽ points on all eligible travel, from subway swipes and window seats to hotel stays and city tours.
Credit required
excellent-credit
Excellent/Good

Rewards. Earn 3X Membership RewardsÂŽ points on all eligible travel, from subway swipes and window seats to hotel stays and city tours. This is an inclusive travel category, which gives you the chance to earn rewards in a lot of different ways.

CLEAR annual credit. CLEAR uses your eyes and fingerprints to confirm your identity. It can be used at a variety of airports, stadiums, and other venues. When you use this card to pay for your CLEAR membership, you can get up to $100 in statement credits per calendar year. However, because a CLEAR membership costs $179 a year (or $15 a month), note that you’ll still have to pay a portion of your membership costs out of pocket each year.

LoungeBuddy annual credit. When you use this card to purchase airport lounge access via LoungeBuddy, you can get up to $100 in statement credits per calendar year.

Additional benefits

Welcome offer. Earn 30,000 Membership Rewards® points after you spend $2,000 on purchases on your new Card in your first 3 months. If you use your points for flights through American Express Travel (a value of 1 cent per point), that’s worth $300.

Away credit. New cardmembers who apply by Jan. 15, 2020, can earn statement credits of up to $100 after making a purchase such as a suitcase or weekender bag from Away — a company that sells its travel gear online directly to consumers and aims to offer better prices than you might be able to find when shopping big-name brands in retail stores.

Baggage insurance plan. When you buy your ticket using this card, you can get coverage of up to $1,250 for carry-on baggage and up to $500 for checked baggage. Terms apply.

Where the American ExpressÂŽ Green Card falls short

Annual fee. The American Express® Green Card has an annual fee of $150. This is a bit more than many mid-level travel cards, which tend to charge annual fees of around $95. However, it’s worth noting that $150 annual fee for the American Express® Green Card is less expensive than premium travel cards such as The Platinum Card® from American Express, which charges an annual fee of $550.

Compare it with the American ExpressÂŽ Gold Card

Another American Express card that serves consumers who like to travel and dine out is the American Express® Gold Card. While the annual fee of $250 is a bit more costly than the American Express® Green Card, some cardholders might find the rewards and annual credits worth the expense. Here’s how the cards compare:

  American ExpressÂŽ Green Card American ExpressÂŽ Gold Card
Welcome offer Earn 30,000 Membership RewardsÂŽ points after you spend $2,000 on purchases on your new Card in your first 3 months. 35,000 Membership RewardsÂŽ Points after you spend $4,000 on eligible purchases with your new Card within the first 3 months.
Rewards Earn 3X Membership RewardsÂŽ points on all eligible travel, from subway swipes and window seats to hotel stays and city tours. 3X Membership RewardsÂŽ points for flights booked directly with airlines or on amextravel.com and 4X points at restaurants worldwide and U.S. supermarkets (on up to $25,000 per year in purchases, then 1X).
Regular purchase APR See Rates & Fees See Rates & Fees
Annual fee $150 $250
Foreign transaction fee None None

For annual statement credits, the American ExpressÂŽ Gold Card offers the following:

Airline fee credit of up to $100. You can choose one qualifying airline per calendar year and receive up to $100 in statement credits to go toward incidental fees.

Dining credit of up to $120. You can earn up to $10 in statement credits each month for an annual savings of up to $120 when you pay with this card at Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Boxed, and participating Shake Shack locations.

American ExpressÂŽ Gold Card

American ExpressÂŽ Gold Card

APPLY NOW Secured

on American Express’s secure website

Terms Apply | Rates & Fees

American ExpressÂŽ Gold Card

Annual fee
$250
Rewards Rate
3X Membership RewardsÂŽ points for flights booked directly with airlines or on amextravel.com and 4X points at restaurants worldwide and U.S. supermarkets (on up to $25,000 per year in purchases, then 1X).
Credit required
good-credit
Excellent/Good

Before factoring in the cards’ annual fees, you can save up to $220 each year from the American Express® Gold Card’s statement credits and up to $200 each year from the American Express® Green Card’s statement credits. Which one is better just depends whether you value credits that go toward incidental airline fees and dining purchases or credits that go toward airport security and airport lounge access. The statement credits effectively reduce the American Express® Gold Card’s annual fee to $30, while the American Express® Green Card’s statement credits can more than recoup the cost of the card’s annual fee, but leaves you to pay $79 a year to make up the yearly price of a CLEAR membership.

Read: Best Travel Credit Cards

When it comes to rewards, the American ExpressÂŽ Gold Card has a higher earning rate per $1 spent on dining than the American ExpressÂŽ Green Card. It also offers U.S. supermarkets as a rewards category, which the American ExpressÂŽ Green Card does not. However, the American ExpressÂŽ Green Card rewards a much broader category of travel purchases than the American ExpressÂŽ Gold Card.

The bottom line

So, is it worth having the American Express® Green Card? If you travel and dine out frequently, it’s a good choice. The annual fee is slightly more expensive than cards such as the Chase Sapphire Preferred® Card (with an annual fee of $95) and the Capital One® Venture® Rewards Credit Card (with an annual fee of $0 intro for first year; $95 after that), but it offers strong value in its ongoing rewards and in its annual credits.

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Glen Luke Flanagan

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Source: https://www.magnifymoney.com/blog/reviews/american-express-green-card-review/

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