The American Express Preferred Rewards Green card for consumers is a charge card, rather than a credit card. This means that the balance must be paid each billing cycle to prevent penalties.
However, cardholders have the opportunity to reap the benefits provided by the Membership Reward program, which is renowned for its flexibility and merchant members. It has consistently been ranked as among the top programs among credit and charge card organizations.
Points accrue whenever a purchase is made with the card. In addition to saving on interest charges, cardholders automatically qualify for several types of travel and shopping benefits. Read on through this American Express Green Charge Card review and then use our free tool to start comparing credit cards today!
American Express Preferred Green Card Benefits
- Use the card for purchases totaling at least $500 in the first three months and 5,000 Membership Rewards points are earned. This can be redeemed for a gift card worth $50.
- The $95 annual fee will be waived for the first year if the application is completed and approved online.
- One membership point is earned per dollar spent on most purchases.
- Purchases from program members, such as supermarkets, drugstores, the US Postal Service, and many others earn 2 points for each dollar spent.
- Points can be transferred from the card to 21 different frequent flyer accounts and 15 hotel partners worldwide.
American Express Green Card Rewards Pros
Cardholders can earn up to three times the rewards points by shopping at the American Express Mall. This is a fully developed shopping site that contains hundreds of retailers and brand name merchandise.
Purchases made through the American Express online “mall” website earn triple points that are able to be used towards gift certificates, travel, dining discounts and home furnishings.
The Preferred Green card is unlike many other rewards cards in that it focuses as much on shopping and services as it does on travel benefits. This card will pay for the annual membership fee in travel and shopping discounts over time.
American Express Preferred Rewards Green Card Cons
There are a few downsides to using the Preferred Rewards Green card. The first is that the balance must be paid of each month, as it is a charge card not a credit card. An applicant’s credit score must be deemed Excellent for consideration. Anything under 750 will not even be considered and 800 is the average score of cardholders.
The $95 annual membership fee is also very high although currently the fee is waived for the first year. There are many different American Express cards, and not all of them have such high standards. For those who want an American Express card, they should look at the basic credit card options and move into this card at a later date.
Citi, Capital One, Discover, Bank of America, and others each have credit cards cards that earn points so be sure to use our free comparison tool for comparing credit cards online!
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