Amex EveryDay Cards Get New Family Rule
American Express continues to add bonus restrictions to card families. The latest affected products are the EveryDay credit cards.
If you’re not aware, American Express has been busy in recent weeks adding restrictions to welcome bonuses. These new restrictions affect certain families of credit cards, which means group of cards that earn the same type of rewards (cash back, points, miles). It started with the different flavors of Platinum cards and the American Express® Gold Card. Then it was the Delta SkyMiles credit cards, and more recently Cash Back credit cards.
Let’s see how this new rule affect the two EveryDay credit cards.
Amex EveryDay Family Rule
The Amex EveryDay® Credit Card now has the following language in the welcome bonus terms:
You may not be eligible to receive the welcome offer, intro APRs, and intro plan fees if you have or have had this Card, the Amex EveryDay® Preferred Credit Card or previous versions of these Cards. You also may not be eligible to receive the welcome offer, intro APRs, and intro plan fees based on various factors, such as your history with credit card balance transfers, your history as an American Express Card Member, the number of credit cards that you have opened and closed and other factors. If you are not eligible for the welcome offer, intro APRs, and intro plan fees we will notify you prior to processing your application so you have the option to withdraw your application.
That means that you will not be eligible for the welcome bonus on the Amex EveryDay® Credit Card if you have have or have had the the Amex EveryDay® Preferred Credit Card within the last 5-7 years. This new language is only showing on the Amex EveryDay® Credit Card, and not the Amex EveryDay® Preferred Credit Card.
That means that if you want to receive the welcome bonus on both cards, you have to start with the Amex EveryDay® Credit Card and then apply for Amex EveryDay® Preferred.
Guru’s Wrap-up
You might be thinking to yourself if this new rule applies to the other EveryDay card, The Blue Cash Everyday® Card. But that card has been included in the family of cash back credit cards, and already has similar rules.
It looks like American Express will eventually apply these new family rules to all its cards. So that might change the credit card application strategy for some.
However, it’s worth noting that if you have your eyes on an American Express cards, you can just go ahead and apply to find out if you are eligible. The pop-up will let you know if you will receive the bonus or not, and you will have the option to withdraw your application.
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