LAWTON, Okla. – Each credit card issuer has its own unique policies to combat fraud and what it sees as churning practices.<\/p>\n
Chase has its\u00a0infamous 5\/24 rule\u00a0that prevents you from opening a new\u00a0Chase card\u00a0if you\u2019ve opened five or more cards in the last 24 months. Amex has historically been laxer with card approvals but has been cracking down on welcome bonus eligibility by enforcing one of the lesser-known rules in its terms and conditions.<\/p>\n
Here\u2019s a word to the wise: Amex can take back your welcome bonus \u2014 or even close your account \u2014 if you cancel or downgrade your account within 12 months of opening.<\/p>\n
New to The Points Guy? Sign up for\u00a0our daily newsletter\u00a0and check out\u00a0our beginner\u2019s guide.<\/strong><\/p>\n The Amex eligibility pop up<\/p>\n A couple of years ago, Amex\u00a0added a pop-up screen\u00a0that appears before you submit your application and warns you if you aren\u2019t eligible for a welcome bonus. There was no hard and fast rule as to what caused this ineligibility, other than\u00a0Amex\u2019s long-standing policy\u00a0that you can\u2019t earn a welcome bonus on a card if you\u2019ve already had it before.<\/p>\n Additionally, it seems that\u00a0most Amex cardholders will be restricted\u00a0to at most four Amex consumer or business credit cards.<\/p>\n Still, many people found themselves being denied welcome bonuses on products they\u2019d never had or hadn\u2019t hit these card limits.<\/p>\n The good news was that Amex gave this warning\u00a0before<\/em>\u00a0you submitted your application, giving you a chance to exit out without having your credit report pulled, which can lead to a small dip in your\u00a0credit score\u00a0in the short term.<\/p>\n","protected":false},"excerpt":{"rendered":" LAWTON, Okla. – Each credit card issuer has its own unique policies to combat fraud and what it sees as churning practices. Chase has its\u00a0infamous 5\/24 rule\u00a0that prevents you from opening a new\u00a0Chase card\u00a0if you\u2019ve opened five or more cards in the last 24 months. Amex has historically been laxer with card approvals but has […]<\/p>\n","protected":false},"author":1,"featured_media":3030,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-3605","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uncategorized"},"yoast_head":"\n