I didn't get through all the posts for this topic, so I don't know if what I am going to say has already been said.
When Citi took over the Best Buy portfolio, did they make everyone do a new app or a HP for the transfer of accounts?
I think the only question here is really whether Amex gets to keep the accounts or if they get transferred to Citi. If Amex gets the accounts, then I would think they would offer a new account to replace it. With the offers, it appears that they might not be retaining the account and want to offer cardholders the opportunity to get an Amex. It might be written into the contract that they are not allowed to simply convert accounts. They may not have to actually do a HP to offer you an account, but they might simply be doing it because of the aspect of everytime you want a new account they do a HP for that account. If they are losing the accounts to Citi, then they might not want to be caught up in any conflict between the agreement with Costco and simply transferring an account to another program.
When Citi takes over the accounts, you would think that the accounts would simply be transferred to them and that's it. I believe that is what happened with Best Buy. I don't have a Best Buy card, but I don't recall anyone saying they had to get a HP to keep the card. I think that Citi would simply decide later what further action would be based on how the cardholder performs after the conversion.
Think about the Macy's upgrade. While Amex may not have revealed what will happen with the Costco cards, for whatever reason, there may not be any real issues. What Macy's said they would do they did. The Amex situation is a little different, since the program is changing banks, so they may have revealed earlier than Macy's did that changes were happening. Amex may or may not know what is happening with Citi and how they will treat the cards. They also want to retain cardholders, especially if the accounts are going to transferred to Citi. This could be a reason behind the email solicitation, to simply retain cardholders. It also doesn't mean that later they don't have a second strategy, after all, if they can get you to apply, why not? If Citi is taking all the accounts, then they might not be able to offer a new account without a HP, depending on the agreement with Costco.
It is by will alone I set my mind in motion.....
Always follow these rules: Only take a HP for a new account. Always use the best rewards card for that reward category. Don't close a card unless you know you really should. Never use more than 35% of a credit limit. Recon as much and as best you can. Use the introductory period to the best advantage. Get the signup bonus. Whenever possible PIF or balance transfer so you pay less in interest. Never give an excellent rating when it is actually the norm. Always look for a discount as more is always better.
Always accept candy from strangers because they have the best candy or from people you know have good candy.
