Is the American Express Green Card worth its annual fee?
Annual credit card fees have always been hard to swallow. You sign up for a new card because you want the perks – perks with real monetary value like airline miles or hotel points. But if the card charges a fee every year, it reduces your bottom line.
Now, with the world and the economy reeling from a global pandemic, the annual fee is even less attractive. Earning rewards by spending by credit card is difficult when you shelter in place, and even harder when your job is gone or in jeopardy. Plus, with world travel almost at a standstill, it feels like the next point-bought dream vacation is a million years away. Who wants to pay an annual membership fee to earn rewards that seem so out of reach?
the American Express® Green Card is a great card in good times, offering a nice welcome bonus: Earn 30,000 Membership Rewards® points after spending $ 2,000 on purchases with your new card in your first 3 months. Conditions apply.
Additionally, users earn 3 points per dollar spent on travel, meals, and transit, and 1 point per dollar on all other expenses. The card also comes with a $ 100 credit for Clear, which gets you through airport security faster, and another $ 100 credit when you purchase airport lounge access through LoungeBuddy. Conditions apply.
There is a nice array of other perks as well. the American Express® Green Card does not charge any overseas transaction fees, and users benefit from travel delay insurance, baggage insurance, and rental car insurance. A Global Assist hotline can save you from all kinds of emergencies, including medical, legal and passport referrals, in addition to providing emergency money transfers and assistance for missing baggage. All of this comes for an annual membership fee of $ 150. Conditions apply.
Are the benefits worth the annual membership fee?
Normally, $ 150 already seems a little steep because so many other cards charge a fee of $ 95 per year or less. But in the current climate, this map is $ 150 The expense could be a break if its travel benefits are more difficult to avail. Most people don’t buy a lot of airline tickets and hotel stays right now. And the American Express® Green CardThe bonus in the public transport category won’t be worth much until we use trains, taxis and carpools again at normal levels.
But this does not apply to everyone. The card has certain advantages which, for the privileged few, make the fees more than profitable.
Then there are the people who just can’t cut back on their commutes, in many cases because their jobs demand it. Anyone who has to keep buying airline tickets and hotel stays (pandemic or not pandemic) will find that the rewards they earn easily outweigh the fees, especially if they also use Clear and LoungeBuddy credits.
And then there are the optimists: the people who can see beyond the gloom to a day on the not-so-distant horizon when normal life will resume, and we will all be very, very eager to go on vacation. This contingent will see that in the long run the fees for this card are probably worth the benefits.
There is even something for the pessimists: the American Express loyalty points that you earn with this card are good for more than just travel. You can redeem points for merchandise at Amazon, Rite-Aid drugstores, Walmart, and many other retailers with the supplies you need to get you through these tough times.
Here’s a calculator that can help you decide if this map makes sense to you now or in the future:
Whatever you decide, be sure to claim the card at a time when it is realistic to spend enough to earn the welcome bonus.
All information on the American Express® Green Card was independently collected by NerdWallet. the American Express® Green Card is no longer available through NerdWallet.
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