This would be a huge loss if the rumors turn out to be true…It seems that American Express (Advertising Partner) representatives are openly discussing new “acquisition incentive control rules” that will go into effect May 1, 2014 that will invalidate the current “once every 12 months rule”. Dan from DansDeals had an online chat with a representative and received the following information:
“Effective for consumer card applications on May 1st, acquisition incentive control will be declined if the Card Member has ever had the same card and cancelled it. We no longer limit the timeline to look back 12 months”.
“You may be wondering why we are doing it. I know it’s a great loss to people who genuinely take advantage of it. Of recent though, we have seen some misuse of it. I.E. people getting Cards, spending the required spend limit, and then canceling. In the meantime, we are trying to work on something else. To see if we can offset it. No eta as of yet. For example, if a Cardmember has been with us for a while and does not have a history of hit and run, so to say (I’m using my own language), then that requirement may be relaxed. I can’t guarantee that will be one of them. But it’s a possibility.”
Just to confirm I asked “So all consumer card bonuses will be once in a lifetime starting may 1st?” And the rep answered:
“Basically, yes. Now, that’s not to say that won’t change or that exceptions can’t be made.”
Just to be certain I jumped onto chat one more time with another rep who wrote,
“Let me provide you the details. Accounts opened before April 30, 2014 – bonus will be declined if the Card Member: Has the same Card or Cancelled the same Card in the last 12 months.
Account opened on or after May 1, 2014 – bonus will be declined if the Card Member: Has the same Card or cancelled the same Card”.
There’s been no official word from AMEX but it appears that their phone, online, and Twitter representatives are all aware of the proposed consumer changes. There’s also been no word on business card changes. I’ve reached out to AMEX Corporate for a response and will post it here as soon as I hear back. Hopefully some of you are almost at the 12 month mark for some of your cards and can apply again. SPG personal card here I come again!