topic Re: Amex not eligible for welcome offer? in Credit Card Applications

Amex not eligible for welcome offer?

pat81 — Fri, 13 Nov 2020 16:56:30 GMT

I've had the BCP card since Oct. 2019, 10k limit, used regularly (roughly 1k spend / month). Have never cancelled an Amex card, the BCP being the only one I've ever had with them. PIF every month, all though I did use their zero interest offer on this card for the first 2-3 months I had it, then paid it off.

Went to apply for the Cash Magnet card, got the popup that because of my recent....not eligable for the welcome offer. Clicked 'cancel', and now the cash magnet card isn't een listed in my account when I go to look at new cards I can app for.

Any idea why I might get this message? I haven't churned any Amex cards (or any others really, use all of the cards I've gotten so far, only ever closed my Cap One secured card that was my first, and that was years ago).

Scores are in the 740-770 range. Did just refinance my mortgage (closed this month) & got a chase freedom card approval also this month, might that have something to do with it?

Re: Amex not eligible for welcome offer?

FinStar — Fri, 13 Nov 2020 17:29:34 GMT

What was the welcome offer for BCP back in 2019? (Aside from the intro % promotion). What was the welcome offer for Cash Magnet when you applied? Did you have a referral code or link when you applied or was it a standard application through the AmEx website?

Re: Amex not eligible for welcome offer?

pat81 — Fri, 13 Nov 2020 18:06:24 GMT

BCP was 200 back on 1k spend.

Magnet was the same offer $200 / 1k with zero apr for 15 months.

No referral code, just logged into my account and went to credit cards.

Re: Amex not eligible for welcome offer?

FinStar — Fri, 13 Nov 2020 18:30:54 GMT

It's possible, although not sure if others have experienced a similar outcome, that they're categorizing the SUB almost as if the 2 products were in the same family? Yet, very different program structures altogether.

That said, I was able to obtain the Cash Magnet SUB during 2018, and when I applied for BCP earlier this year, the SUB was awarded with no issues - didn't get any pop-up restrictions during the application process.

Re: Amex not eligible for welcome offer?

pat81 — Fri, 13 Nov 2020 18:55:28 GMT

I wonder if recent account closings would cause this? Obviously not through amex, but my refinance would have closed my existing mortgage just a few days ago. That's all my brilliant ideas at the moment...

Re: Amex not eligible for welcome offer?

FinStar — Fri, 13 Nov 2020 19:47:01 GMT

Hmmm. I doubt that would be the case with your recent refinance. It seems (IMO) this would be more internally driven 🧐. Perhaps others can chime in with similar experiences since I didn't have any issues obtaining both, granted in reverse order from yours.

Re: Amex not eligible for welcome offer?

Kinglord — Fri, 13 Nov 2020 20:32:46 GMT

I had the BCP closed on me in 2017 after I defaulted on another card. I continued to pay it off and brought it down to zero this past May. Ive had the Optima Oasis card since 2018 and finally was approved for Cash Magnet. I received the SAME inelgibile for SUP notice when attempting to apply for BCP and Cash Magnet.

Re: Amex not eligible for welcome offer?

pat81 — Sat, 14 Nov 2020 00:30:01 GMT

So maybe amex considers them the same '1 per lifetime' offer now?

Re: Amex not eligible for welcome offer?

JackBeNimble1 — Sat, 14 Nov 2020 03:14:55 GMT

For the first time, I too received a pop-up from American Express. It said I wasn't eligible for the Blue Cash Preferred card's bonus, or first-year fee waiver. I recently closed the Amex Bonvoy, which I had for nearly three years. In the spring, I closed two Amex biz cards after just over 12 months. I still have three Amex cards that I've owned for between three and five years and have put a ton of spend on them. One of those three cards has been mostly dormant for several months so I am now using it again in hopes it helps my case. Until now, Amex has approved all of my applications, without hard pulls, and tried to bait me to apply for other cards with lucrative personal offers. My guess is they have tightened up their lending standards recently and an algorithm is in charge. I will appeal to a human soon if the pop-up doesn't go away.

Re: Amex not eligible for welcome offer?

FinStar — Sat, 14 Nov 2020 03:39:26 GMT

@JackBeNimble1 wrote:
For the first time, I too received a pop-up from American Express. It said I wasn't eligible for the Blue Cash Preferred card's bonus, or first-year fee waiver. I recently closed the Amex Bonvoy, which I had for nearly three years. In the spring, I closed two Amex biz cards after just over 12 months. I still have three Amex cards that I've owned for between three and five years and have put a ton of spend on them. One of those three cards has been mostly dormant for several months so I am now using it again in hopes it helps my case. Until now, Amex has approved all of my applications, without hard pulls, and tried to bait me to apply for other cards with lucrative personal offers. My guess is they have tightened up their lending standards recently and an algorithm is in charge. I will appeal to a human soon if the pop-up doesn't go away.

Just keep in mind that a human wouldn't be able to override anything that's system-driven. Much the same way they're unable to adjust or match any welcome SUB promotions, adjust POT criteria, etc.

Re: Amex not eligible for welcome offer?

JackBeNimble1 — Sat, 14 Nov 2020 17:02:12 GMT

Good to know, Finstar. I didn't realize that. Drat!

Re: Amex not eligible for welcome offer?

JackBeNimble1 — Sat, 14 Nov 2020 21:47:09 GMT

So I decided to speak to an Amex analyst via the backdoor number. He looked into my situation and said the welcome bonus was not offered because I had closed too many credit cards recently. I did close a Barclaycard last week, a Chase card the week before that, and the Amex Bonvoy card in September. I also closed two Amex business cards in April and February of this year. He did encourage me to apply for the card with the understanding I would not receive the welcome offer. I passed. Oh well.

Re: Amex not eligible for welcome offer?

FinStar — Sun, 15 Nov 2020 04:51:07 GMT

@JackBeNimble1 wrote:
So I decided to speak to an Amex analyst via the backdoor number. He looked into my situation and said the welcome bonus was not offered because I had closed too many credit cards recently. I did close a Barclaycard last week, a Chase card the week before that, and the Amex Bonvoy card in September. I also closed two Amex business cards in April and February of this year. He did encourage me to apply for the card with the understanding I would not receive the welcome offer. I passed. Oh well.

I believe the primary or main reason was the closure of 3 AmEx CCs in less than 12 months (more so than the external accounts even if those were considered as well) which invariably on the application it does provide such a disclosure that could impact any future SUBs/welcome offers even if no 'warning' pop-up displays.