I recently posted a blog talking about the Chase credit card rules, most notably the infamous 5/24 rule. American Express is another popular credit card company and honestly my current favorite credit card issuer. They have diverse multiplier categories and tend to be more lenient on approving more credit and charge cards to users.
This rule simply states that they will issue up to two credit cards within a 90 day period. Note that this only applies to credit cards and not American Express charge cards. It seems that American Express is not as strict on the velocity in which you get charge cards as they are on credit cards. Currently, there are no “restrictions” on charge cards.
Once In a Lifetime Rule
This rule is easily one of American Express’s most infamous credit/charge card rules where the sign-up bonuses for cards are only available once per person “in their lifetime”. This makes it tough for those who go through credit cards frequently for the sign-up bonuses. However, I have read on Reddit where some people are able to receive a second sign-up bonus after seven years or so. This rule does apply for all of the American Express cards including personal, business, credit and charge cards.
4 Credit Cards/10 Charge Cards Rules
A new rule that American Express recently added that limited the number of credit cards and charge cards that you can hold at once. Previously, I knew of a 5 credit card limit, and no limit for charge cards that I know of. The four credit card limit is the most restricting of the two since there are a lot more credit cards that are useful for the everyday person compared to the charge cards. The nice thing about it is that you can always cancel a card for another, and when you want the first card, you can always apply for it again and not have a hard pull on your credit report (you still will not be able to get the sign-up bonus since you would have had it before). I think the only group of people that may be affected by the charge card restrictions are business owners who have the use for all the different benefits. This new rule means that you will need to cancel a credit card if you see another that you want to apply for. Again, a bit restrictive but not over the top in my opinion.
American Express is a great credit card issuer. I have no complaints with them, and any problems that I have encountered I was able to connect with an assistant who quickly solved my problem. In addition, the multipliers have been nothing short of amazing (the Gold card for dining and groceries for 4x points per dollar, the Blue Business Plus as my catch all for everything else). I personally like American Express over Chase because I value customer service and the usability of the multipliers. Since these rules are much less restrictive compared to Chase, I would personally recommend getting all the Chase cards you want first before getting deep into the American Express ecosystem. Right now I have three American Express cards: the Gold, Amazon Business Prime, and the Blue Business Plus card. Below will be my referral link if y’all want to use it and support the blog. But until next time…
We appreciate y’all letting us be a part of your Break Time.
Checking out, Kenny
American Express: http://refer.amex.us/KENNELLOSZ?XLINK=MYCP