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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.
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