Kennedy1
Topic Author
Posts: 76
Joined: Sat Jul 10, 2004 11:43 am

Personal Green Card From American Express

Tue Sep 21, 2004 4:29 am

Does anyone know what the minimum income requirement is for the traditional Personal Green Card (not the rewards green card) The site says there is a $15,000/yr. requirement for the Green Rewards card, but does not state anything for the traditional green card, and when you call customer service they say they cannot disclose that information?
 
cha747
Posts: 753
Joined: Mon Dec 15, 2003 1:07 pm

RE: Personal Green Card From American Express

Tue Sep 21, 2004 5:05 am

Kennedy1 - You may qualify for an Amex Student Green Card. I had one through college and med school. Not only are the income requirements low, they have a cool deal with CO. They give you some domestic and international e-certificates so that you can book last minute travel at cheap rates (if seats are available in that class). My sister and I flew PHL-SEA for about $250 each one summer. I think that the cost is substantially reduced, but if you want to earn Membership Rewards, you have to pay $55/year for the card and then $45 (I think) per year for Membership Rewards.

Hope this helps.


You land a million planes safely, then you have one little mid-air and you never hear the end of it - Pushing Tin
 
Kennedy1
Topic Author
Posts: 76
Joined: Sat Jul 10, 2004 11:43 am

RE: Personal Green Card From American Express

Tue Sep 21, 2004 5:27 am

Thanks for the help. The problem is Amex doesn't recognize my school as an accredited school in their program, therefore they do not consider me a student. I have a part time job and make about $1,000 a month, which still puts me under the Green Rewards card income restriction. I may apply for the regular Blue card and see if I can upgrade in a few months. I don't think it'd be good on my credit to be denied a second time.
 
N6376M
Posts: 2310
Joined: Tue Aug 12, 2003 12:54 am

RE: Personal Green Card From American Express

Tue Sep 21, 2004 5:28 am

Why is ASU not an accredited school?
 
Kennedy1
Topic Author
Posts: 76
Joined: Sat Jul 10, 2004 11:43 am

RE: Personal Green Card From American Express

Tue Sep 21, 2004 10:04 am

I'm no longer a student at ASU, I didn't realize that was still in my profile. Due to some personal problems I had to move back home and attend a much smaller schooler.
 
sean1234
Posts: 401
Joined: Fri Aug 18, 2000 2:52 pm

RE: Personal Green Card From American Express

Tue Sep 21, 2004 12:54 pm

I don't think any of these credit card companies go to great lengths to check your income. Since you seem concerned with honesty in your statement and perhaps see the word perjury in the fine print with whatever the penalty, I can understand your hesitation. Since they ask for the "annual household income" put down what your parents make. With next to no real income, I have a few cards with probably a total of $30k credit line (and only 21 yrs old), from putting down the income of my parents on the application. Nobody has ever called me on it, "gee Sean that number looks a little high, could you explain." The point is nobody gives a f*. I believe the primary criteria for approval and then credit limit is FICO score and of course income.

I have an AE gold card which I don't really put to full use in terms of benefits, though it looks cool, it’s impressive to the kids and commands respect when I slap that thing down at the counter. LOL. I don't really know why I even have the thing. Oh ya, this gold card is a charge card meaning that you must pay the bill at the end month in full or get a serious penalty of fees and interest, and probably an agent of AE calling you up. But to my point supposedly this thing has no pre-set spending limit which is a load of bs. I asked them really what is my limit and they wouldn't say. I don't know why they do that sort of thing, but they can be difficult like that. Now that this response has turned into a full fledged review of AE, the customer service is probably the best in the business. They have intelligent and accommodating professionals ready for you at anytime you so need them. Additionally they never telemarket you or send you solicitations in the mail.

So put down your parents income and if you have respectable FICO score you will get the card.

-If you get a Providian card, you can view your FICO score for free online which is very nice to know where you stand.

BTW I had the "Blue" card and after 2 years they offered me the gold.

Let me know how it goes,
Sean
 
Kennedy1
Topic Author
Posts: 76
Joined: Sat Jul 10, 2004 11:43 am

RE: Personal Green Card From American Express

Wed Sep 22, 2004 12:21 am

Thanks for the help. It clearly states "annual household income", which is obviously far greater than what my part time job brings in. I put down that amount rather than stirctly my personal income and did the Express Approval Green Rewards card application and was approved.
 
cha747
Posts: 753
Joined: Mon Dec 15, 2003 1:07 pm

RE: Personal Green Card From American Express

Wed Sep 22, 2004 4:13 am

As a former telemarketer and peddlar of gold mastercards for MBNA, here is what they are interested in. If it's a non-student opening an account, they ask that if you're single, you make about $15,000 per year, about $30,000 if you're married. Students may claim scholarships and loans as income, but must be ready to provide evidence. This is a courtesy and varies from bank to bank, so I'd check with AE before declaring scholarships or loans. You will be asked about whether you rent, buy, or own your home. If you are living with parents or family and pay no rent, then that is well in your favor.

The total household income can and should include all sources of income coming into the house excluding (IIRC) child support, alimony, and money received from garnished wages. Other sources of THI can include dividends from securities, gambling winning for the year, and a few other things. Again, what will be accepted varies from bank to bank. In addition, as with your own income, you may be able to place it on the application but it may or may not have any bearing on your acceptance when the application goes to the finance department.

Finally, you can get somebody to co-sign for your card. I did this for my first credit card (my Dad was my co-signer) and then re-applied for another account 6 months later once my credit was established. A few bits about getting a co-signer. The co-signer is totally responsible for what you charge...if they can't collect from you they will hound your co-signer. Also, a co-signer's credit can be marred if you don't pay your bills. Take home message, choose a co-signer who you know you won't get in trouble.

Finally, once you get your card, immediately establish credit. Only buy what you can pay for...for example, charge $100 the first month and pay it all off. Do this for a few months in a row and your bank will start to establish some trust.

Hope this helps....sorry I didn't write it above, I was busy yesterday.
You land a million planes safely, then you have one little mid-air and you never hear the end of it - Pushing Tin

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