American Express cracking down on credit card churners?
Hey friends,
So if you watched my recent video talking about what cards I have in my wallet, you’ll know that I was thinking about closing down my American Express Essential Card and then waiting 18 months before signing up for a new American Express credit card to take advantage of another sign-up bonus. (Most likely would’ve been the American Express Platinum Card)
American Express has it in its terms & conditions that to be eligible for a sign-up bonus, you must not have had any American Express credit card in the previous 18 months.
However, I’ve seen a lot of recent anecdotal evidence from people who are credit card churners who have been rejected by American Express even though they haven’t had an American Express credit card in the previous 18 months. It appears that American Express is cracking down on credit card churners and is just outright rejecting any applications from credit card churners!
This is a bit disappointing as I’m not sure if I should close down my Essential card and wait 18 months anymore. If you’ve signed up for a new American Express credit card recently, let me know how your experience was!
My New Video
7 Best Credit Card Hacks That Banks Don't Want You To Know About - In this video, I talk about some of the best credit card hacks I’ve picked up over the past few years that could help you save money on fees or earn you more reward points. So I hope there are some useful takeaways for you here.