Originally Posted by diesteldorf

I already have a GOLD CARD, and Amex is basically offering $340 worth of credits for a $250 annual fee. $100 AIRLINE, $120 UBER, $120 GRUBHUB, so potentially it could have a negative annual fee depending on how you value things.

I also have a GREEN CARD, like you, that I am upgrading to GOLD, probably in a few days, since it'll have more value to me as a Gold Card. I paid $150 to renew the GREEN CARD in September, so Amex should refund approximately 2/3 of the annual fee ($100) and charge me 2/3 of the annual fee of the GOLD CARD ($170 GIVE OR TAKE).

I am also planning to buy a CLEAR gift card (use promo code HOLIDAY for an extra $50 off) tomorrow or Saturday, so I can utilize the $100 CLEAR CREDIT from the Amex Green before I convert to the Amex Gold. Then, I'll still be able to have CLEAR status on into 2022 when travel resumes.

I understand where you are coming from and support your decision to not apply for credit cards solely for signup bonuses/churner games etc, but if I was in your position I would apply as a new application, earn the signup bonus on the GOLD, and CONVERT your GREEN card to another GOLD. The signup bonus may come in handy for a future trip and having multiple GOLD cards for 2021, isn't a bad thing. You can always make changes in 2022. Good Luck.