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If you don't mind taking the risk and trying, then I'd say go for it. But if the language doesn't have any exclusions, then I'd suggest to apply with that offer and keep that original mailer in case you need it to dispute a case where they didn't want to pay out your points. Be prepared to not receive your points just in case.
Really there is zero risk. For an existing customer a denial is a soft pull. Hard pull only on approval...