A classic credit card gets a makeover

The 44-year-old green card from American Express is getting a face lift.

Launched in 1958 and made famous in a series of television ads in the 1970s (Remember all those spots with Karl Malden in his trench coat?), the green card was a status symbol for travelers the world over for decades. Nobody who was anybody left home without it.

But times have changed. The little plastic cards we tote around in our wallets -- credit cards, debit cards, store cards, gas cards -- are all about convenience. And almost anyone can get some.

"We almost don't need cash anymore," says Scott Strumello, an associate at Auriemma Consulting.

It's awfully hard to stick out as a status symbol when everyone's wallets are crammed full of plastic. And today's green card customers aren't necessarily jet-setters. When they reach for their green cards, they're probably charging mundane, everyday purchases like gas and groceries, not lofty travel and entertainment expenses.

With all the card options available today, fewer consumers are willing to shell out an annual fee for a charge card, even one with the nice travel and purchase perks of the green card.

"The classic green card with no rewards isn't drawing in customers like it once did," Strumello says.

The solution? A new, built-in rewards program and a new look. Anyone who signs on for a new green card is automatically enrolled in the Membership Rewards program from American Express.

With the old green card, cardholders had to pay a membership fee, a minimum of $55, plus an additional fee of $40 to earn rewards. With the new green card, rewards are included in the card's membership fee, which starts at $65.

With the new green card, you earn two Membership Rewards points for every dollar you spend at most grocery stores, drug stores, gas stations, home improvement stores and the U.S. Postal Service. You also earn two points for each dollar you spend on your wireless phone. You earn one point per dollar for all other purchases you make with the card.

All those tried-and-true green card customers with a hankering for travel haven't been forgotten entirely. The new green card comes with an array of new travel perks, including free roadside travel assistance, passport and baggage assistance and an emergency cancellation and card replacement service.

"They're even better cards to use from a safety and security standpoint when you're traveling," says Desiree Fish, a spokeswoman for American Express.

With the new benefits comes a new look. The new green cards are a darker, richer green and say "rewards" under American Express. A cardholder's name and account number are embossed in silver rather than black.

Current green card customers who like their cards just the way they are need not worry.

"No one is being forced to give up their old cards," Fish says. "You can still hang on to a classic card for $55 a year."