American Express Green Card Review

Editorial Note: DollarWise may earn a commission on sales made from partner links on this page.

Performance test results

At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.

You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.

The American Express Green Card has earned a 4.55 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).

The highest scoring categories for the American Express Green Card are fees and rewards.

These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.

This weighting allows us to judge cards on their merits and the customers they are designed for.

For the American Express Green Card the most important factors for scoring this card are its fees and rewards.

Rewards

With the American Express Green Card, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Calculating your annual rewards

We estimate that spending $2,000 per month with the American Express Green Card would earn $480 in rewards over the year.

Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.

We found that you’d earn this per category:

Our study investigating the value found that each dollar spent on the American Express Green Card is worth up to $0.02, depending on how you redeem.

This $480 in rewards value puts the American Express Green Card in the top 30% of credit cards in Canada based on rewards earned.

The average credit card in our database earns $337 in rewards for the same spend that the American Express Green Card earns $480 in rewards value.

We can compare this card to other options by looking at the earn rate by category.

This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.

For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.

In this example, that’s a 10% earn rate on gas.

For an annual spend of $24,000, we estimated annual rewards value at up to $480.

That’s equivalent to a 2.00% return on spending.

The American Express Green Card has an annual fee of $0. After deducting this, we predicted net annual rewards of $480.

This puts it in the top 20% of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of $254.

Fees

The American Express Green Card has a $0 annual fee.

The average card charges $85. So, the American Express Green Card is in the bottom 50% of cards based on the cost of the annual fee.

Perks

We manually review the perks of each credit card to determine how they compare to other cards.

The American Express Green Card scored a 1.8 out of 5 for perks, putting it in the top 40% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

The average (median) credit card has a purchase interest rate of 19.99% and so the American Express Green Card charges 1% more than the average.

For cash advances it costs 21.99% compared to the average of 19.96%.

Testing the American Express Green Card with a $2,000 starting balance, you can see in the graph how the 1% more in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

We scored it 0.0 out of 5 for insurance.

It offers 2 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

We scored it 3.0 out of 5 for approval.

We predict that you will require a credit score of at least 660 to qualify for the American Express Green Card, while the average card requires 652 to qualify.

This puts it in the top bottom 50% of cards by approval difficulty.

The personal income requirements are $0, while the average card requires $23,896.

This puts it in the top 50% of cards by the income required to qualify.

The American Express Green Card is a credit card designed for consumers seeking a balance between earning potential and benefits, making it an attractive option for many Canadians.

In this review, we will break down the card’s earning potential, key benefits, notable drawbacks, and provide additional information for those considering the American Express Green Card as their next credit card.

Earning potential

The American Express Green Card allows cardholders to earn points through the American Express Rewards system. Cardholders earn 1 Membership Rewards point per dollar spent on eligible purchases with no limit to the total points that can be accumulated.

The card does not offer any specific category multipliers or cash back, meaning rewards are consistent across all types of spending.

1. Insurance Coverage: A major advantage of the American Express Green Card is its travel and purchase insurance coverage. Cardholders receive coverage for travel-related issues, such as trip cancellation/interruption, lost or stolen baggage, emergency medical travel insurance, and car rental theft/damage coverage.
   
   This level of protection adds a sought-after layer of security when booking travel arrangements with the card.
2. Comprehensive Membership Rewards: The second major advantage is access to American Express’ comprehensive Membership Rewards program. Cardholders can redeem points for various options, including travel bookings, merchandise, gift cards, or statement credits.
   
   The flexibility of the program caters to individuals with diverse preferences and spending habits.
3. Exclusive Experience: The third advantage is access to the American Express Invites program, which offers exclusive experiences and special offers for dining, shopping, and entertainment. These perks complement daily spending and can be enjoyed by users who want a more premium card experience.
4. Cards’ Accessiblity: The fourth major advantage is the card’s accessibility for those with fair credit scores. Although not guaranteed, consumers with modest credit history may have a higher chance of being approved for the American Express Green Card compared to other premium cards with stricter requirements.

Drawbacks

1. Limited Acceptance: A notable drawback of the American Express Green Card is its limited acceptance by some merchants due to relatively higher processing fees. This may require cardholders to carry a secondary card for some situations where American Express is not accepted.
2. Lack of Bonus Earning: Another drawback is the lack of bonus earning categories. With a flat 1 point per dollar on all spending, cardholders looking to maximize rewards on specific spending categories (such as travel or groceries) may be better suited exploring a card that offers accelerated earnings in those areas.

Additional information

The American Express Green Card has an annual fee of $60 but offers an additional supplementary card at no extra cost, which could be beneficial for adding an authorized user.

Moreover, cardholders have access to Global Assist, which provides medical, legal, and financial assistance when traveling more than 100 kilometers outside of their city of residence.

In summary, the American Express Green Card offers well-rounded benefits for those seeking a rewarding credit card with a focus on travel protection and membership perks.

Despite its limitations in acceptance and lack of bonus earning categories, it remains an attractive choice for Canadians, particularly those who value flexibility and exclusivity in their credit card experience.

Not the right fit? You could consider the SimplyCash Preferred Card American Express. Or, if you’re looking for other options check out the Marriott Bonvoy American Express Card, and the American Express Gold Rewards Card.

FAQ

Key benefits

• 30,000 points welcome bonus after spending $2,000 in the first 3 months
• 2x points on Travel and Transit purchases, 1x points on all other eligible purchases
• Rewards points can be transferred to various airline frequent flyer programs
• Mobile Device Insurance coverage up to $1,000
• American Express Mobile app for easy account management and tracking points
• Access to select airport lounges with discounted rates
• Emergency Medical & Trip Cancellation insurance for eligible trips
• Global Assistance services for emergencies while traveling abroad
• Option to redeem points for charitable donations
• Exclusive offers on dining, shopping, and entertainment