When applying for American Express cards you need to be aware of a few issues that may prevent your from being approved for a new card with a sign-up bonus. First, there is the American Express lifetime language. The lifetime rules on this are the same whether you are reapplying for a personal or business American Express card. The application terms for American Express personal cards or business cards have this language “This offer is not available to applicants who have or have had this product.” This means you can never get another sign-up bonus for any personal or business American Express card that you already had, no matter how long ago you canceled it.
Second, American Express has an unwritten 5 card rule that they subjectively throw out. At times (I have found), American Express will not allow you to have more than five CREDIT cards inclusive of BUSINESS AND PERSONAL cards at one time. The rule is somewhat subjective as currently, Rob has 6 Amex cards. Note that this 5 card rule only applies to credit cards, American Express charge cards do not count in the 5 card tally. You can learn about the difference between charge cards and credit cards here. In addition, the 5 card limit does not include American Express cards in which you are only an authorized user.
Next, you can open a maximum of 2 Amex credit cards in a rolling 90 day period.
Lastly, Amex has added new language to the terms of their applications. This language states as follows…
“We may also consider the number of American Express Cards you have opened and closed as well as other factors in making a decision on your welcome offer eligibility.”
Talk about subjective language! This language basically gives Amex the ability to deny your application or bonus for ANY REASON they want. I have yet to be a victim of a denial for this reason (what reason?) and hope I never am. After all, I have been an Amex member since 1988. I frequently use my cards and am a very good customer. Disappointment would be an understatement if Amex ever denied me based on this subjective standard.
Luckily, I have read that before you need to go thru the process of getting denied for the bonus, Amex added an eligibility check that will tell you whether you are eligible for a credit card welcome bonus or not. You will get this message if you are applying for a card where you will not be eligible for a welcome bonus…
“Based on your history with American Express welcome offers, introductory APR offers, or the number of cards you have opened and closed, you are not eligible to receive this welcome offer.
We have not yet performed a credit check. Would you still like to proceed?”
At least Amex gives you a heads up and you do not have to waste an application. I would suggest you abort! if you see this message appear on your application.