It looks like Amex is tightening up the welcome offer restrictions on some of its cards. We saw restrictions added to welcome offers on Delta Amex cards, and now we’re seeing restrictions added on the Amex Gold Card.
In this post:
Amex adds limits on Gold Card welcome offer
The American Express® Gold Card (review) is a lucrative card, and one of the best cards for earning Membership Rewards points.
Card issuers have different policies when it comes to getting approved for and earning welcome offers on cards. Historically it has been possible to earn the welcome offer on the Amex Gold Card as long as you don’t have (or haven’t had) that exact card, or the Premier Rewards Gold Card (which is simply what the card used to be known as). This is in line with Amex’s “once in a lifetime” policy.
Well, that’s no longer the case. The terms of the welcome offer on the Amex Gold Card now state the following:
You may not be eligible to receive a welcome offer if you have or have had this Card, the Premier Rewards Gold Card, the Platinum Card, the Platinum Card from American Express Exclusively for Charles Schwab, the Platinum Card from American Express Exclusively for Morgan Stanley or previous versions of these Cards.
So now if you have or have had any version of The Platinum Card® from American Express (review), you’re no longer eligible for the welcome offer on the Amex Gold Card. Note that you can still apply for and be approved for the card, you just can’t earn the welcome offer.
What’s the logic for this restriction?
In general, credit card issuers add restrictions to credit card welcome offers in order to encourage profitable behavior, and avoid gaming.
The trend here from Amex seems to be that if you have (or have had) a more premium card, then you’re not eligible for the welcome offer on a less premium version of that card. I sort of get the logic of that for a Delta Amex Card — for example, if you have the Delta SkyMiles® Reserve American Express Card (review), there’s almost no incremental value to having the Delta SkyMiles® Gold American Express Card (review). So if you choose to apply for it, the welcome offer might be a major motivation, rather than an intent to spend on the card in the long run.
However, you’d think it would be a bit different in this case. The Amex Platinum Card has strong perks but not a very compelling rewards structure, while the Amex Gold Card has an incredibly compelling rewards structure. The two cards are great complements to one another, and I think there’s a great case to be made for having both cards.
Amex seems to have a different perspective. I’m sure this is based on some data that we obviously don’t have access to, so I’d be fascinated to know what that is…
Bottom line
There are significant restrictions for earning the welcome offer on the Amex Gold Card. Previously you were eligible for the welcome offer on this card as long as you don’t have or haven’t had the exact card (or the Premier Rewards Gold Card).
Meanwhile now you’re not eligible for the welcome offer on this card if you have or have had the Amex Platinum Card. This is a pretty major policy change from American Express, and I imagine we’re only going to see similar restrictions spread to more cards.
What do you make of these changes to the Amex Gold Card welcome offer language?
So dumb. I’ve wanted the gold card for a year but have been in pop up jail. Have the platinum but put barely any spend on it due to the poor earning. Guess I’ll continue to stay in the Chase UR world.
I wonder if this applies to people who are an authorized user on a Plat card? So, can my daughter "never" get a Gold card because she is an AU on my Plat card (for two more weeks, because of the ridiculous change in costs for additional Plat cards
In a way there is some perverse logic in this. As time goes on the rewards appetite diminishes so AMEX wants to discourage downsizing. The good news is the natural progression is upwards so that normally a Gold Rewards would elevate to a Platinum Rewards card which does not appear to be blocked. Warning to all - from this time forwards watch the sequence! Start small ;-)
If you read Amex conference calls and financial statements, you know they are very big into “upgrading” people from Green to Gold, Gold to Platinum, Surpass to Aspire, etc. They typically want people to go to the highest fee cards and to actually spend on those cards. It seems like they are increasingly looking down on customers maximizing their spend. The various big spend thresholds on Amex Platinum (Centurion Guest Access), Delta Reserve (Unlimited SkyClub...
If you read Amex conference calls and financial statements, you know they are very big into “upgrading” people from Green to Gold, Gold to Platinum, Surpass to Aspire, etc. They typically want people to go to the highest fee cards and to actually spend on those cards. It seems like they are increasingly looking down on customers maximizing their spend. The various big spend thresholds on Amex Platinum (Centurion Guest Access), Delta Reserve (Unlimited SkyClub access - but we will see if they walk this back), the hotel cards, etc all show this
I wouldn’t be surprised if they applied the family rule to the Amex Green and all of the Hilton cards.
This is Amex being greedy.
Now it makes me wonder, who spread the greedy virus, Amex or Delta?
I'm wondering if this the reason I wasn't eligible for the higher bonus on the Green card a couple of months ago since I already had the Gold.
I wanted the Green for the clear membership credit but during the application process it warned me that I wasn't eligible for the 60,000 membership points despite never having the card in the past.
I thought it was odd since I couldn't think of any...
I'm wondering if this the reason I wasn't eligible for the higher bonus on the Green card a couple of months ago since I already had the Gold.
I wanted the Green for the clear membership credit but during the application process it warned me that I wasn't eligible for the 60,000 membership points despite never having the card in the past.
I thought it was odd since I couldn't think of any restrictions I had...other than having the Gold card for the past couple of years
I have never applied for any of the AMEX cards. So do I have a strategy to play here now? Apply for gold then platinum? would I get both bonuses that way? Thx
If one got the platinum card before they made the modifications to the language on the Morgan Stanley and schwab cards (adding the lifetime language, and restricting bonuses if you got regular platinum) could one file a lawsuit saying they wouldn't have gotten the original platinum?
You could file a lawsuit on anything.
Would it stick?
Unlikely, sounds almost like buyers remorse. If X was going to lower the price, I wouldn't have bought it.
Then what's the damage you're asking for in favor of the lawsuit.
The forfeited bonus of 90k MR points, is it even worth it?
Fair enough, but I wouldn't necessary say its buyers remorse like in the twitter example though.
It seems to be a bait and switch from amex. "We got all these people on the personal card now before they all go to get the schwab and Stanley cards (and get welcome offers for those) let's pull the rug from underneath them so they are no longer eligible."
This situation doesn't directly apply to me. I...
Fair enough, but I wouldn't necessary say its buyers remorse like in the twitter example though.
It seems to be a bait and switch from amex. "We got all these people on the personal card now before they all go to get the schwab and Stanley cards (and get welcome offers for those) let's pull the rug from underneath them so they are no longer eligible."
This situation doesn't directly apply to me. I originally had the gold card and got an "upgrade offer" to go from gold to platinum. I think it was 100k or so. So I am wondering how that fits into all the new "lifetime language" that amex is adding to their original cards. Is there a difference between upgrade offer and welcome offer or are they 1 in the same?
The data is VERY accessible and pretty obvious:
Last year I cancelled my Platinum which I found too expensive and not particularly rewarding for my priorities. I switched to the Gold which fit me better, 4 miles on restaurant, groceries, etc.
I ended up paying a lower price and getting MORE perks than with the PLATINUM.
I took of course the bonus so ridiculously offered in my case, but I found it ludicrous on...
The data is VERY accessible and pretty obvious:
Last year I cancelled my Platinum which I found too expensive and not particularly rewarding for my priorities. I switched to the Gold which fit me better, 4 miles on restaurant, groceries, etc.
I ended up paying a lower price and getting MORE perks than with the PLATINUM.
I took of course the bonus so ridiculously offered in my case, but I found it ludicrous on their part. I am getting more perks than last year and I am paying less. THEY are giving me more and receiving less.
In other words, they are closing, in some cases at least, a loophole blatantly unjustified. Offering the bonus in the first place was a huge error, at least for my trajectory. Their main reason to exist is to make money, after all.... Nothing wrong there...
This being said, I didn't report this as long as the cookie jar was open, but now that it is closed, no reason not to comment...
For the bonus to be maintained, there could be a clause that it will be withdrawn if, during the next 3 years and the past 2 (for instance), a higher card has been or becomes cancelled.
Lately it sees these credit card companies specially Amex are working overtime to alienate the card base.
I look at the Platinum card. What motivation do I have to subscribe for it other than the welcome offer ? The Uber credit is useful but it is rationed per month. The lounges always have a soup kitchen line in front of them. Their Priority pass is essentially useless at most US airports as they do not...
Lately it sees these credit card companies specially Amex are working overtime to alienate the card base.
I look at the Platinum card. What motivation do I have to subscribe for it other than the welcome offer ? The Uber credit is useful but it is rationed per month. The lounges always have a soup kitchen line in front of them. Their Priority pass is essentially useless at most US airports as they do not allow restaurant access.
The rest of it are niche services that not many could use it all.
The $240/yr streaming credits are easy. The $100/yr Saks credit is easy. $200/yr airline incidentals are helpful. If you buy a soul cycle, the $300/yr Equinox credit becomes valuable. $200 for a hotel splurge once per year is useful. That's $1040 right there, so you're already ahead of the game, and any further benefits are icing on the cake.
I got my Amex Gold Card last year but feel a bit disappointed for those who won't be able to get the welcome bonus because they (like me) previously had the Amex Platinum card.
Oh, cherish thy precious Amex metal card! Thou mayest never see another! /s
I am so glad I applied for AMEX Gold Card last month when I found a 90K bonus on their website (already had Platinum card). While this rule makes sense for DL Cards, it is complete nonsense for the AMEX cards. This rule is going to discourage customers like myself to open a Gold card (maybe that’s AMEX intention). I guess the only way to get all the bonuses is to apply for cards from cheapest to most expensive…
I hate churners, and Amex hates churners. The only people who support churners are churners.
Yet this affected non churners too.
Quite an about-face. Last year Amex gave me a targeted (very elevated) offer for my gold that I assume came from cancelling my Platinum.
They also increased minimum spend on personal Gold card to $6k in 6 months.
Having 6 months rather than 3 makes the minimum spend more manageable, even if the total spend requirement is higher.