Have you been pre-selected for the American Express Green Card Membership? If you’re actively working on improving your credit score then this offer is definitely a sign that you’re headed in the right direction. Congratulations on all the hard work and smart financial decisions you’ve made to better your credit report. Being pre-selected to apply for an American Express Card should be a big boost to your confidence.
The first thing to consider with this sort of baseline American Express card is it basically operates as a “charge card.” Whatever balance you incur on the card on a monthly basis has to paid in full each month. All of the financial disciplines that you used to improve your credit score up until this point will be needed to retain your membership with American Express because of this feature. Many people don’t see a problem carrying over a balance from month to month but this card does not allow this convenience.
Because the Green Card operates as a “charge card” there are no interest charges assessed to your account unlike your typical credit card. American Express expects you to pay off your balances each month. With this card you won’t have the inclination to spend more than you should. You’re always concerned about using the card in a financially responsible way so you’re able to pay the balance off in full when the monthly payment is due.
With this card there is an annual fee of $95 but the first year membership fee is waived. There are definitely other reputable credit card offers out there that don’t require an annual fee but some consumers will pay the annual fee because of the reputation behind American Express.
Other Highlights of the Amex Green Card
- Membership Rewards Program (earn 1 point for every dollar spent with no expiration dates)
- Roadside Assistance Hotline (get assistance if your vehicle breaks down)
- Purchase Protection (purchases protected from accidental damage or theft up to 90 days)
- Extended Warranty (extends the manufacturer’s warranty on purchases up to 1 additional year)
- Return Protection (AMEX may refund the full purchase price on returns that a merchant won’t take back up to $300 per item with a max $1,000 per calendar year)
- Year End Summary (details all account spending for the year)
All of the above highlights only qualify for eligible purchases. Please review their list of eligible purchases.