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Another day, another new rule limiting who can earn the welcome bonus on an American Express card. It feels like I wrote about this just the other day. Oh, wait…I did.
For those not keeping track, we saw new “family” card restrictions on the Blue Cash Everyday® Card from American Express just a few days ago. That was on top of rules limiting welcome bonus eligibility on The Platinum Card® from American Express in August and new rules on Delta credit cards in September. Now, the issuer has set its sights on the American Express® Gold Card.
New Eligibility Rules on the Amex Gold
Credit card issuers have many rules you need to navigate. These may relate to how many cards you can have from that bank at one time, for example. “Family” language, on the other hand, isn't just about what cards you have and how many of them. It extends to whether you can earn the welcome bonus on a credit card based on what other cards you have or had in the past.
Amex has been on a roll with family language recently, and here are the new terms on the application page for the Amex Gold:
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® from American Express, American Express Platinum Card® by Charles Schwab, The Platinum Card® from American Express Exclusively for Morgan Stanley or previous versions of these Cards. You also may not be eligible to receive a welcome offer 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 a welcome offer, we will notify you prior to processing your application so you have the option to withdraw your application.
That's a lot to take in. If you've had the Amex Gold, previous versions of the card before its overhaul, or any versions of the Amex Platinum, you might be ineligible for a welcome bonus here.
In case you're wondering, there aren't any similar restrictions on the American Express® Business Gold Card — at least not yet.
Our Take
Something is going on at American Express. The issuer has been restricting bonus eligibility on numerous cards over the past few months, and the latest victim is the fan-favorite Amex Gold. It's one of the best cards for groceries and one of the best cards to use at restaurants, but now its welcome bonus has become inaccessible to many people.
If you already have this card, you might consider applying for the Amex Platinum soon. At present, its terms don't have any restrictions for holders of the Amex Gold. But with the way things are going at Amex lately, that could change any day now.
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