Re: Amex cards - online upgrade for Dog, That is right. This could be a good deal for some. But there are a few problems. First, it should be an upgrade....who wants/needs two Green cards? I hope some folks apply for the upgrade and let us know how this actually goes down. Joe
Re: Amex cards - online upgrade for This morning's WSJ adds a little more info, apparently they're _phasing out_ the old green card: American Express Retires Their Classic Green Card By RON LIEBER Staff Reporter of THE WALL STREET JOURNAL It turns out too many people were leaving home without it. American Express is retiring its classic green charge card. Made famous in a series of ads since it launched in the late 1950s, the card for decades was a status symbol for globe-trotting executives. The move reflects a growing reality in the industry that AmEx has finally had to acknowledge: People increasingly won't use their charge cards unless they're rewarded with points and miles for each purchase. The problem with the classic green card was that holders had to pay both annual membership dues and an extra fee to be eligible for freebies under the company's "Membership Rewards" program. As a result, AmEx has decided to replace the original green card -- as well as its gold cards -- with newer-fangled charge cards that allow holders to earn merchandise points and frequent-flier miles for every dollar charged. Only one fee will now be charged, ranging from $65 to $130 depending on the perks, compared with $55 for the classic green card that didn't earn points. The company isn't shunning green altogether. It says the new cards will include both gold options and a "richer" shade of green. The charge-and-points combo has become a powerful incentive to whip out your card. Membership Rewards enrollees spend four times as much on their AmEx cards as cardholders who don't get points. So in an effort to entice all its cardholders to spend more liberally, the company decided to put every charge-card customer in its Rewards program. The birth of the American Express card in 1958. It was originally made of paper. "Customers have become very savvy, and they love to play the points," says Gordon Smith, the president of AmEx's consumer card services group. All this is an attempt at one-upmanship in the hugely competitive card business. Some companies such as J.P. Morgan Chase may offer credit cards with no annual fee, but charge extra for people who want points and travel rewards. Others, such as Bank One and Citigroup, charge an annual fee but throw in frequent-flier miles free of charge. Diners Club, meanwhile, charges $95 for the card and a points program that in some ways resembles that of AmEx. AmEx's corporate cards are not affected by the move. The company's credit cards -- which unlike its charge cards automatically let customers carry a monthly balance -- such as its Blue card and its co-branded card with Starwood Hotels, won't change either as a result of the new structure. Current cardholders can keep their cards the way they are if they wish, though the company is already encouraging them to trade up. AmEx is offering a big carrot to keep the customers it has and add new ones too: Holders of the new cards will earn two Membership Rewards points for every dollar they spend at most grocery stores, drugstores and gas stations, among other retail establishments. Holders of platinum and black cards will also get this perk as of Nov. 1. Converted to plastic in 1959 and kept this look for ten years. Two of the four new cards are specifically designed to appeal to people who would prefer to redeem points for merchandise instead of airline tickets. That option may appeal to consumers who are frustrated trying to redeem miles in an environment where fewer planes are flying a record eight trillion frequent-flier miles are outstanding. The company learned its lesson the hard way. In the 1980s, big banks flooded the market with MasterCard or Visa credit cards that allowed users to collect one frequent-flier mile on their favorite airline for every dollar they charged. Many big spenders abandoned their AmEx cards in order to rack up free tickets. Plus, more stores accepted those cards than AmEx, which charges merchants higher fees to process the payments. Primary Card American Express fought back in the 1990s by introducing Membership Rewards and a series of credit cards. Still, despite AmEx's huge push into grocery stores and other "everyday" retail establishments in the 1990s, many consumers grew accustomed to using Visa or MasterCard as their primary card. Now, AmEx has another problem on its hands. Debit cards, where card spending is deducted directly from a linked bank account, are growing rapidly and are particularly popular for the same small, everyday purchases that AmEx is targeting. Last week, Visa announced that during the first six months of 2002, consumers used Visa debit cards more often than Visa credit cards for the first time. Moreover, many of the banks that issue the debit cards have added awards programs to the cards, offering customers one point per dollar spent under certain circumstances and then redeeming those points for merchandise. Some have even signed up airlines to give one frequent-flier mile away for every dollar that people run through the cards. Redesigned in 1969 to the familiar classic green card, which is now being replaced by four new options. American Express is fond of stating that its biggest competitor is cash. But industry consultants believe that the two-points-per-dollar deal is designed to make consumers think twice about using a debit card instead of an AmEx to charge the weekly grocery bill. "This announcement raises the bar," says Chris Moloney, the director of market strategy at Maritz Loyalty Marketing, which provides technology support and services to some groups within AmEx. "This puts them head to head against debit cards." But to the great disappointment of consumers who have clamored for it for years, AmEx is not adding American Airlines or United Airlines to the roster of Membership Rewards partners. As cardholders change airline loyalties thanks to the tumult in the industry, however, this may become a smaller issue. Soft Spot for Gold Take Kelly L. Close. Until recently, her United Airlines Visa was her primary card. But she held a soft spot in her heart for her AmEx gold card, since it was her father who'd first signed her up. Now she's flying Southwest Airlines more often to save money. Because Southwest is a participant in the Membership Rewards program, she's considering upgrading to the new AmEx card to get access to the double points deal. "There are a lot of people like me," she says. "We want to have an angle on everything." Write to Ron Lieber at ron.lieber@wsj.com Updated September 24, 2002 (Note to all: I post the whole article rather than just the link because the WSJ is a pay site, and many creditnetters don't have access to it. Please pardon the bandwidth.)
Re: Amex cards - online upgrade for I have been wondering about this for some time -- what advantages (if any) do AMEX cards have over Visa/MC Gold and Platinum cards? I reviewed the benefits page link that was posted and to me it looked like anyone with a Platinum Visa or MC would have the same or comparable benefits, especially if the Visa or MC was also a rewards card. So what makes the AMEX unique?
Re: Amex cards - online upgrade for There is an interesting article in today's Wall Street Journal which sheds some light on Amex's strategy and the challenges they face in differentiating their products from competitors. In particular the article talks about Amex retiring the classic green charge card and upgrading their cards/rewards on offer. It also states that existing platinum and black cards will get the enhanced two points per dollar on everyday spending as of November 1. EDIT Whoops - did not read the prior post pasting the whole article....
Re: Amex cards - online upgrade for Well, amex gold has the online dispute feature. Much easier then sending in a written request or hassle with the CSR on the phone. Just login online, specify which charge is disputed and you will get a resolution with a month. Within the recent 2 months i had $5000 dollars in charges to some porn site ( NO i didn't use it, for real) I went online and put all of it into dispute. And with a week i got everything credited back to me, no questions ask.
Re: Amex cards - online upgrade for Amex has always been considered prestigous. It really isn't. My father inlaw got a green card in 1972. He tried to cancel it in 1990's. Amex offered him a rebate equal to 1 year of dues. He accepted. Do you know that he has never paid an annual fee. since then ? They waive it every year. This year will b e different. When they try to upgrade him to $65 a year for rewards, it will be sayanara. Good bye baby. Not worth it even with rewards. I don't mean to offend you Amex people but these charge cards are a joke from the 50's. Only old people and those fooled by the warrior on the card think these cards have merit. Amex is not competitive and they will try to get rid of my Father In Law as he makes them very little money since his retirement. If you want an education, just cancel the green or gold charge card nd see if the free offer shows up in the mail within months.
Re: Amex cards - online upgrade for Sorry, but I am still loyal to Amex. Even with their outrageous annual fees, what other credit card company is willing to work with you like they do? I didnt pay my full balance (which is rare), and all it took was a call to waive the finance charges they charged. I'm sorry, but no Visa or MC platinum card gets you the benefits the Amex Platinum gets you. Go to an airport lounge and flash your capital one platinum visa to get in, and they'll laugh at you. This benefit alone is worth $800-900 a yr. I've never had a credit card company, or any company in fact, where i've NEVER had to sit on hold. I've had to call customer service numerous times, and have never had to wait--not even a min. Again, Amex platinum was THE original platinum, and it still shows. I was seriously considering cancelling my card, (since I got a blue with really good terms and CL); but when this new double points thing kicks in, it will really be worth it.
Re: Amex cards - online upgrade for You're right, kerry, rewards programs only make sense if it's something you can (or want) to use. I travel infrequently, so airline miles are fairly useless to me. The first class airport lounge access that AMEX Platinum offers (mentioned by another poster in this thread) is enticing, but again, I just don't travel enough. However, the merchandise available from AMEX works quite well for me. You can redeem AMEX points for Brooks Brothers gift cards, each point is worth a penny. Each year I get about $600 in Brooks Brothers gift cards. Subtract the fees: gold card-75, add'tl gold card-35, membership rewards-25 = $465. OK, at Brooks Brothers, that's one free sport coat, or four pairs of pants, or nine ties a year. But I think it makes it worth the fees; I certainly get back more than I spend. The only other usage benefit to AMEX is not having to worry about a credit limit, you just buy what you need to buy and go on. Also, even though I think the Gold card is rather dated and '80's (but not '50's, LOL), you do get a bit more deference from store clerk types, if that turns you on. (BTW, I think existing card holders will not be forced to upgrade.)
