I would argue that this is the biggest core strategy to work around - especially for new people thinking about upgrades/downgrades. Technically, we have seen some offers that don't have this once in a lifetime language, but it's not common. By downgrading it, you lose out on the 80k to 130k Hilton Honors bonus that's pretty normal for the Hilton - easily 1 night in most of their expensive properties like Bora Bora, Maldives, or Koh Samui The sole act of having X card means you will not be eligible for the signup bonus.įor example, if you had the Amex Everday card in the past and canceled it (or product change), you would not be eligible to receive another Amex Everyday signup bonus if you applied for it again in the future.Īnother example would be if you opened the Hilton Honors American Express Surpass® Card and downgraded it to the no annual fee Hilton Honors American Express Card. If you've ever had a certain Amex product past or present, regardless of if you received a signup bonus, you will not be eligible for the signup bonus again. You’re not putting enough spend on your cards in recent months Amex doesn’t see you as a person that needs another charge or credit card if your cards current cards with them are idle.You’re blacklisted from Amex from doing one of the activities in the previous section about “Welcome Offer Clawbacks.”.If you sign up for a card and you get a pop up saying that you're not eligible for a welcome bonus, you will not receive one. Keep the card for at least 12 months and you can cancel or downgrade afterward if you don’t want it. Closing the account early means that Amex reserves the right to claw back the welcome bonus. When you try to close an account that’s less than a year old, it seems like you’re only opening the account for the welcome offer. Again, Amex has access to third-level data so they know when you’re purchasing cash equivalent gift cards.Ĭlosing a new account before the 12-month mark is another red flag. These can be in the form of Visa or American Express gift cards purchased from a drug store or any other retailer that sells them. Amex has access to third-level data so they can distinguish between P2P and merchant payments.Ĭash equivalents are another type of purchase that can raise a red flag. However, if you make a purchase from a retail merchant with PayPal, this is a normal transaction. Peer-to-peer (P2P) payments is when you send money to a friend via a service like PayPal. Amex reserves the right to “clawback” a welcome offer if they detect any “gaming” activity like peer-to-peer payments, cash equivalent gift cards, and closing accounts early. Welcome Offer ClawbacksĪmerican Express updated their terms of service in 2018 by adding “anti-churning” language. The higher offers are usually targeted and not publicly available.īefore we dive into the core rules, there are a few prerequisites to be aware of to see if you’re eligible for welcome offers. Again, it depends on your timing if you want to hold out for the offer or not. CardMatch is a common way to find increased offers. The highest offer I've seen is 100,000 bonus points for The Platinum Card® from American Express. A lot of Amex card members are frustrated because they aren't targeted for great offers like new customers, but it's a user acquisition strategy for Amex. One thing to be aware of, if you are not currently an American Express customer, don't apply until you get targeted for a great offer. There are three major rules to know before applying for an American Express credit card:
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |