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March 31, 2006
Review of the American Express Rewards Green Card
The Rewards Green Card from American Express is a very flexible reward points card. Flexibility is one of the features that I really like in a rewards card. Unlike some points credit cards you are not limited to redeeming your points on say only travel. The Rewards Green Card gives you the ability to cash in your points on shopping, entertainment, and travel rewards. Having a choice of how to spend your points is always the better choice in my opinion. Let's say you have accumulated enough points for your dream vacation but your life situation has changed, for example maybe you've had a new baby, anybody who has traveled with an infant will know it simply is not a pleasant experience. So having the flexibilty to use your points on other items is a truly excellent feature with a reward credit card.
Here are just some of the stores where you can redeem your points: GAP, Banana Republic, Maui Jim, Sony, Cannon, Dell Computers, TicketMaster, most major airlines, restaurants and there many more stores and services where you can use the points you have accumulated. The point is your points can be used for products or services that you actually need. It is this points flexibility that wins my seal of approval. The only downside to any American Express card is their strict qualification quidelines. Only those with excellent credit will qualify for any American Express credit card. If your credit bureau report has any problems you won't qualify for the card. If you have read any of my previous reviews of Amex cards you already know not to apply for credit cards that you don't qualify for as it will impact the decision of other lenders in granting you credit.
To summarize why the American Express Rewards Green Card is an excellent card to have in your wallet:
Points can be used for shopping, entertainment and travel.
Low annual fee of $65
First year there is no annual fee
Issues to consider:
On cash advances the fees will be 3% or $5.00 fee, whichever is greater, with no maximum. In addition, there is a 1% fee charged for Travelers Cheque transactions.
Review of the American Express Rewards Gold Card
Like every Amex card you will only qualify if you have excellent credit. I do mention this on every American Express review that I publish because it is vitally important that you avoid applying for credit cards that you won't qualify for as it will adversely affect your credit. Other lenders may not lend to you if they see too many denied credit applications on your credit bureau report.
With the American Express Rewards Gold credit card the key perks to entice you to apply are:
5000 bonus points which you can redeem immediately
Earn 1 point for virtually every dollar you spend on Card purchases
Earn 2 points for virtually every dollar you spend at stand-alone supermarkets, gas stations, drugstores, the U.S. Postal Service (excluding bulk mail), or to pay your wireless phone bill
Redeem points for rewards from over 50 of the finest names in shopping and entertainment, including DellTM Computer, Callaway® Golf, and The Sharper Image®
Transfer points into 11 frequent flyer programs -- 2 points for 1 airline mile with most programs
Redeem points for travel certificates from 6 of our domestic and international airline partners
Points have no expiration date
There is no limit to the number of points you can earn
The fees associated with the American Express Gold card are:
$90 Basic Card Annual fee
$35 Annual Fee for Additional Cards
All charges made on this Charge Card are due and payable when you receive your billing statement.
Late fees vary from state to state so make sure you check for your state. Other details about the Amex Rewards Gold card are:
Minimum yearly income required to qualify for the card is $20,000
The only real problem this card could present to the cardholder is the fact that all charges made in a billing cycle are due immediately upon receiving your statement. Yes, every dime you spend for a month must be paid in full each and every month.
I only recommend this card to those you have very good bill payment habits. Those of you who tend to carry a balance on your credit cards should avoid applying for this card.
Editor's Review Of Gold Delta SkyMiles Credit Card From American Express
If you haven't read my other reviews of American Express cards please note that you will only be accepted for an Amex card if you have excellent credit.
The key benefits offered from American Express with the Gold Delta SkyMiles® card are:
15000 bonus miles with your first purchase - Bonus points are rewarded 8-12 weeks after the first charge you make on the card.
SkyMiles never expire
Delta Frequent Flyer number is printed right on your card - Providing convenience to you when redeeming your airmiles.
Competitive APR - Currently
No annual fee for the first year - $85 annual fee for the first year
Additional cards are fee free
Balance transfer of 9.99% for the life of the balance
One mile for every other eligible dollar spent - Eligible dollars are on the first $100000 you spend
No blackout dates - Fly when you want with your points!
Specific details about the Delta SkyMiles® card:
APR for purchases: 16.49%
Variable rates determined by:
Adding 9.99% to prime rate for purchases
Adding 14.99% to prime rate for cash advances
The Prime Rate for each billing period is the Prime Rate published in The Wall Street Journal on the first day of that billing period or two days prior to the closing date of that billing period, whichever is higher.
Deliquent and seriously deliquent rates are prime plus 12.99% and 21.99% - Pay your bills on time or pay!
Grace Period
20 days if previous months balance is paid in full.
Minimum finance charge of 0.50 applies so watch your small purchases on the card such as coffee as you will be an additional 0.50.
Overall the Gold Delta SkyMiles® Credit Card From American Express is a great card for those who like to travel on Delta Airlines and have excellent credit. If you are like me and don't like to carry cash watch that 0.50 minimum finance charge for your small purchases as that can really start to add up faster than you think in charges. Most people overlook this minimum finance charge and end up paying a small fortune in finance fees on this card. Use another form of payment for your lunches and coffees if you are going to apply for the Amex SkyMiles card.