With more than 170 years of history, American Express is a company known for luxury rewards, travel, insurance, and credit cards. The company is known to cater to high-end clientele, meaning they often charge higher fees to merchants, equating to fewer locations where the card is accepted. However, the benefits might still make the credit card worthwhile for several people. Let our Amex Green Card review help you establish if it would work for you.
Table of contents
What are the Features and Benefits?
Membership has some nice perks, especially an initial signup bonus of up to $700. With the Amex card, you can get a $100 statement credit for enrolling in a CLEAR membership. For those who do not know, CLEAR is a security checkpoint that, using fingerprints and eye scans, can help you get through security checkpoints faster at select airports and stadiums.
Additionally, if you use the Amex Green Card, you can get up to a $100 statement credit through LoungeBuddy. One-time lounge passes through the service start at $25, meaning the statement credit could get you up to four lounge passes per year.
The card also offers purchase protection on eligible items, baggage insurance, trip delay insurance, secondary car rental loss, and damage insurance, and so much more. Finally, the Amex card has a points system to reward card users, and those points can be redeemed at over 22 travel partners.
Who Would Use the Amex Green Card?
The Amex Green Card is not for everyone; the steep $150 annual fee will put some people off, and others will struggle to get application approval with average or slightly better credit. The Amex makes no excuses for their structuring and approval choices, marketed as a high-end card for frequent travelers. If you find you often buy airport lounge day passes or prefer expedited airport security, the credit card might be a good option for you.
When Should You Use the Amex Green Card?
Because of the rewards and points system, cardholders benefit the most from using the card to purchase airline tickets, rent hotel rooms or cars, or fine and casual dining. As with any credit card, if you can prevent carrying over debts for any significant length of time, it is more cost-effective.
Examples of Using the Amex Green Card
When looking at the card’s description, users might be confused by the term travel. The card is known as a travel credit card, but what expenses does that entail? Here are only a few examples of Green Card purchases:
- Ride-share services
Steps for Securing an Amex Green Card
Only applicants with good to excellent credit should apply for this credit card from Amex. If you meet the credit requirements and prequalify for the card, the application process is straightforward:
- Visit the company website
- Gather financial information
- Fill out the application
- Submit the form and wait for a decision
Amex is known for exclusivity, meaning that only people with impeccable financial histories stand a relatively good chance of approval. While some people might get accepted with a lower score, most should aim for a credit score of 700 or better.
The Amex Green Card does not currently have a spending limit, meaning that cardholders can choose to pay in full or carry a balance over time with interest, depending on the charge. While there is no set limit, a cardholder should consider a self-imposed “Pay Over Time” limit.
The Amex Green Card does have an annual fee of $150. While many people wonder why such a high-profile card requires a fee, American Express depends more on fees for profit than other credit card companies.
If you’re interested in a credit card with less stringent requirements for its applicants then check out our look at the Indigo Credit Card here