The most iconic piece of plastic ever is the American Express Green Card. Celebrating it’s 50th anniversary, the original charge card has been relaunched with some attractive new perks, a slightly higher price tag, and a few questions that we hope to answer on whether or not you should apply for it.
The new and improved American Express Green Card is shifting to a traditional credit card, and will not be offered as a revolver. As a reminder, Amex offers popular revolver charge cards such as the Gold Card and the Platinum Card, in which the entire balance is due in full each statement cycle. Moving the Green Card to the traditional model questions whether the company will distance itself from the revolver products altogether heading into the future.
Other benefits the Green Card now include $100 CLEAR and $100 LoungeBuddy statement credits, and the card will provide 3x Membership Rewards points on travel, transit, and restaurant purchases. Positioned to attract young professionals who travel for business or pleasure, the current sign up offers for the Green Card include a welcome bonus of 30,000 Membership Rewards points after you spend $2,000 in purchases during the first 3 months. If you apply by January 15th, 2020 and are approved, you will also be eligible for $100 in statement credits for eligible Away luggage purchases. The new Green Card does tote an annual fee of $150, which makes this card a struggle to recommend when lining it up against it’s peers.
First, if you are already in the Amex ecosystem, the benefits of the Platinum card far exceed the Green. The Gold card, while not focused solely on the travel perks, is arguably a better alternative as well. The Green Card will likely compete to lure customers away from Capital One (Venture) Chase (Sapphhire) and the Uber Visa.
What we like about the Green Card is the piece of mind you will have when using it for purchases. The extended warranty, purchase, and return protection from American Express continues to lead the industry, and if you are traveling, the car rental loss and damage insurance rivals peer card issuers.
Is the Amex Green Card worth adding to your wallet? Our answer right now is no, as there are better options both with American Express (Gold, Platinum), and externally via Chase.