American Express Green Chargecard (American Express)

Member Name: skyrider007

Product:	American Express
Date:	27/09/06 (2974 review reads)
Rating:

Advantages: must be paid in full each month, free insurance policies, global recognition, restaurant discounts

Disadvantages: annual fee, limited acceptance

Since 1960s, the American Express card has been the preferred methods of payment for travel and entertainment expenses. The card is regarded as a status symbol by many as it indicates the cardmembers' purchasing power (and ability to pay back their bills in full + on time). Card acceptance varies from place to place, most high street retailers, supermarkets, chain hotels, car rental agencies, airlines and gourmet restaurants will honour the card. Smaller establishments are unlikely to take the card as it incurs them higher fee.One of the traditional feature the card still retains is that its bill must be paid in full each month. Basically, you have no pre-set spending limit, however AmEx will not authorise charges they think you could not afford to pay back on time. You will need to show them a series of consistent spending pattern and on time payments, then you're likely to get 1.5x limit on your monthly average. A phone call to AmEx to notify them before making high-amount purchases is advised to avoid the card being declined.

In addition, the card provides complimentary travel insurance, baggage insurance, purchase protection, return protection, Car Rental Loss & Damage insurance and refund guarantee when related charges are settled with the card. If your card is lost or stolen and you need it to check-in at a hotel or motel, AmEx offers emergency check-in service. Just call them and the problem will be solved. Also, if you're 50 miles or more away from home, you can use roadside assistance service (car breakdowns etc.) or GlobalAssistant (i.e. accident while trekking in Nepal and requires emergency assistants). Membership rewards is a reward scheme which cost 23 pounds a year on top of the 38 pounds annual fee. You get 1 point per 1 pound spent, and they can be redeemed for merchandises as well as frequent flyer miles. For foreign transactions, AmEx charges 2.73% comission. Non-US dollar charges are converted into USD first then pound sterling.

In terms of customer service, American Express can be contacted via their global network of call centres or their website. The telephone number on the back of my card links to their base in Brighton (not India or the Philippines). Wherever you are in the world, chances are that there will be a local AmEx office there. Unlike Visa or Master cards, you don't need to call the UK number or your card issuer, as the local AmEx offices will have full access to your account (cost saving! just pay for local calls). Calls are answered quickly and questions addressed efficiently. The American Express website (www.americanexpress.co.uk) is relatively easy to navigate around. The account management is extremely easy to use and straight forward. You can check your recent transactions, download previous statements in PDF file, check and redeem your Membership Rewards point and pay the balance using a debit card. You can also set up email and/or SMS alerts. With this service, you get notified of your current balance and payments via your e-mail or text weekly.

With American Express, you can rest assured that you are protected from fraud and identity theft. AmEx offers an extensive help to those affected by identify theft cases and card fraud. Should you notice unauthorised charges on your statement, AmEx will put the charge on hold while they investigate the case (no payment required). AmEx cards issued in the UK are chip and pin card, so they have the same security benefits (and flaws) like any other UK financial institutions issued cards. The PIN can be changed at any cash machine in the UK. I have personally tested all high street banks machines, and it worked in all of them (HSBC, NatWest, LloydsTSB, Woolwich, Abbey and Nationwide). You card can also be used to withdraw cash advance, however AmEx charges 3% comission charge and 20% interest. During emergency, you can cash your cheque at any AmEx Travel Offices for up to 500 pounds. If you card is lost or stolen, a replacement card will be issued and can be collected the next working day after your report at any AmEx offices world wide.

Despite the annual fee, I highly reccomend this card to anyone who can afford to pay off their bills in full. The card ensures that you're on track of your financial responsiblity. However, except Membership Rewards you can receive the same benefits of this card with any fee-free AmEx credit cards. Last but not least, as an AmEx cardmember, you benefit from thousands of promotional offers under the American Express Selects scheme. Such offers range from restaurant discounts, free companion air ticket and preferred seating at exclusive events etc. The application process takes about four weeks if submitted online. The minimum income required is 20,000 pounds. Excellent credit rating is essential when applying for a chargecard.

Go to: http://www.americanexpressofferzone.com to see what American Express cards has to offer

To apply for the card, go to www.americanexpress.co.uk and select Personal Cards then choose Green. You should be approved if you meet the following criterias:

- 18 year old or older
- Have a UK bank account (with a cheque guarantee card)
- Earns 20 000 pounds or more annually (household)
- Have a permanent address in the UK
- Have no Country Court Judgements for non-payments
- Good credit!

If your application is sucessful, you will receive a copy of terms and conditions in which you are asked to sign and return with a proof of address (i.e. utility bill or bank statement). The card should then be mailed to you within a week after they receive your signed contract. I received my PIN after the card, strangely this is because the PIN is issued in the USA and has to be mailed from there!

Suggestions:
- Pay your bills on time
- Don't sign up for Membership Rewards if you plan not to spend over 2000 yearly (MR costs 23 pounds a year + 38 pounds annual fee)
- If your application is declined, do not attempt to re-apply within 2 months, it will affect your credit rating
- Do not carry the AmEx card alone, have a Visa or Master card as a backup
- Don't use the card to pay for non-sterling or non-US transactions, as it will incur you double comission (non-GBP/USD charges are converted to USD first (2.73% comission) and then to GBP again (2.73% comission, again!).

The Green Card from AmEx is chip and pin enabled. The following are list of shops that I frequently pay with my AmEx card:

- Argos
- Boots
- Debenhams
- BHS
- Disel
- Asprey
- GAP
- HMV
- J.D. Sports
- TfL (Oyster top-up)
- M&S
- Tiffany & Co.
- Next
- Thomas Pink
- Sainsbury's
- Starbucks
- Virgin
- WH Smith
- Dixons
- Burberry
- Habitat
- Sportsworld
- River Island
- Zara
- FCUK
- Body Shop
- Harrods
- Louis Vuitton (at stores and online)
- Selfridge's
- Harvey Nichols
- House of Fraser
- Liberty
- Prada
- Waitrose
- Office (shoes)
- Borders
- Urban Outfitters
- Nando's

Summary: a traditional charge card with an array of benefits that is worth the annual fee