Ever wonder why credit card companies offer different versions of the same credit card? And what’s the difference between gold and platinum anyway… prestige and bragging rights? Not really. No one cares about the credit card in your wallet unless it is the American Express Centurion Card, and then people only care because they are superficial or they think you’re silly for spending several grand in annual fees. But I digress… The short answer is the difference between the green, gold, and platinum cards is service and benefits.

American Express Green, Gold, and Platinum Benefits

The main benefit of these cards is the service and perks they provide. There are many common features among them, and some that are exclusive to a particular card, such as the Gold Card events or the concierge service available only to American Express® Platinum Card holders.

Membership Rewards program. These cards all come with free membership to the Membership Rewards program for no additional fee. Cardholders earn one point per dollar spent on all purchases, and the rewards can be redeemed for gift cards, items, or transferred to airline or hotel miles. There is no limit to the amount of points that can be earned, and points never expire.

Here are just some of the perks you expect with these cards (click on the picture of the card for more benefit details).

Feature
Fraud Protection	X	X	X
Purchase Protection	X	X	X
Extended Warranties	X	X	X
Auto Rental Insurance	X	X	X
Use points for airline/hotel miles	X	X	X
Identity Theft Assistance	-	X	X
Access to Gold Card Events	-	X	X
Complimentary Airport Club Access	-	-	X
Concierge Service	-	-	X
Travel Accident Insurance	$100k	$100k	$500k
Business Version	Yes	Yes	Yes
Sign-up Bonus - redeem points for:	$50 Gift Card	$100 Gift Card	Round Trip Airline Ticket
Apply	Apply	Apply	Apply

Sign-Up Bonuses for American Express Cards

These American Express Cards each come with a sign up bonus.

Preferred Rewards Green Card - Earn 5,000 Membership Rewards® Bonus Points When You Spend $500 in 3 Months - Redeemable for a $50 Gift

Preferred Rewards Gold Card - Earn 10,000 Membership Rewards® Bonus Points When You Spend $500 in 3 Months - Redeemable for a $100 Gift

American Express® Platinum - 25,000 Membership Rewards® Bonus Points When You Spend $1,000 in 3 Months - Redeemable for One Domestic Round-Trip Airline Ticket.

Fees

These American Express cards offer generous benefits, but they come at a price. Each of these cards carries an annual fee (waived for the first year for Green and Gold). Annual fees are never fun, but they are typically easy to negotiate and often earn the card holder rewards points upon renewal. I recently renewed my American Express Business Gold Card and received 10,000 bonus points for renewal. This is equivalent to a $100 gift card. The renewal fee was $125. To make the renewal decision, I only had to ask myself if carrying the card was worth paying $25 for the next year. The Green Card carries a $95 renewal fee, and the Platinum Card has an annual fee of $450.

Who Should Use These American Express Cards

These three cards are charge cards not credit credit cards, which means the bill must be paid in full each month. The target audience for these cards is a person who regularly spends a lot of money each month, has the ability to pay the bill in full, and wants to take advantage of the excellent benefits and services - particularly those of the Gold and Platinum Cards. The higher annual fees make the Gold and Platinum Cards a better deal for those who will take advantage of the many services and discounts and plan to spend several thousand dollars a month with their card.

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