My Blog

Tag: once-in-a-lifetime rule

  • AmEx Strikes Again: Green Card Now Affected by “Waterfall” Rule

    AmEx Strikes Again: Green Card Now Affected by “Waterfall” Rule

    Just when you thought the lifetime language situation with AmEx couldn’t get any worse, they’ve gone ahead and added another restriction to their signup bonuses. This time, the victim is the AmEx Green Card, which now falls under the dreaded “waterfall” rule.

    If you’re not familiar with the “waterfall” rule, it’s a sneaky way of preventing you from getting a signup bonus on a lower-tier card in a card family if you’ve ever had a higher-tier card in that same family. For example, if you’ve ever had the AmEx Platinum, you’re now ineligible for a bonus on the AmEx Gold or the AmEx Green. In other words, your ineligibility “waterfalls” down, but does not go the opposite direction. This means the optimal order in which to obtain these cards is from the Green, to the Gold, and then finally the Platinum.

    This rule was first introduced on the personal Delta cards a few months ago, and then expanded to the AmEx Gold Card shortly after. Now, the AmEx Green Card has joined the club, making it even harder to earn those valuable Membership Rewards points.

    Here’s the new language on the Green Card:

    You may not be eligible to receive a welcome offer if you have or have had this Card, the Platinum Card®, the Platinum Card® from American Express Exclusively for Morgan Stanley, the Platinum Card® from American Express Exclusively for Charles Schwab, the American Express® Gold Card or previous versions of these Cards.

    American Express Offer Terms

    This is a huge blow to anyone who was planning to get the Green Card for its 40,000-point welcome bonus and its unique benefits, such as the $189 annual CLEAR credit and the $100 annual LoungeBuddy credit. The Green Card was also a great option for those who wanted a lower annual fee ($150) than the Gold ($250) or the Platinum ($695).

    Now, the only way to get the Green Card bonus is if you’ve never had any of the other cards in the AmEx family, or obtain an elusive “no lifetime language” offer. That’s a pretty narrow window, considering how popular the Platinum Card and Gold Card are among points & miles enthusiasts.

    The good news is that the business cards are still safe from the “waterfall” rule, at least for now. You can still get the bonuses on the Business Green, the Business Gold, and the Business Platinum, regardless of your personal card history. But who knows how long that will last, given AmEx’s track record.

    The bottom line is that AmEx is making it harder and harder to earn their points, which is a shame because they have some of the best transfer partners and redemption options in the business. If you’re looking to maximize your Membership Rewards points, you’ll have to be strategic and careful about which cards you apply for and when. And don’t forget to check the fine print before you pull the trigger.

  • AmEx Introduces “Waterfall” Lifetime Language on Amex EveryDay Card

    AmEx Introduces “Waterfall” Lifetime Language on Amex EveryDay Card

    American Express, a key player in the credit card industry, recently introduced a concept known as “waterfall” lifetime language to its Amex EveryDay Card. This seemingly innocuous change has significant implications for those looking to maximize their rewards and enjoy the benefits of American Express’s Membership Rewards program.

    Understanding “Waterfall” Lifetime Language

    The term “waterfall” may conjure images of cascading streams, but in the world of credit card churners, it signifies something quite different. This new language is all about limiting your eligibility for signup bonuses based on your previous card history within the same family. To put it simply, if you currently hold or have ever held a higher-tier card in the same family, your eligibility for a signup bonus on a lower-tier card is restricted. The reverse, however, is not true.

    In practical terms, if you’ve had the Amex EveryDay Preferred Credit Card, you won’t be eligible for a signup bonus on the basic Amex EveryDay Card. This applies not only to the current moment but extends to any point in the future when you might consider reapplying for the Amex EveryDay Card.

    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.

    Fine print from AmEx (emphasis added is ours)

    The Evolution of “Waterfall” Language

    This trend began a few weeks ago with the personal Delta cards and was later expanded to include the Amex Gold and Platinum cards. However, business cards are yet to be affected, so if you’re yet to pick up bonuses on popular AmEx business cards, you still have time to do so.

    Historically, the EveryDay and EveryDay Preferred cards have not been known for their extravagant signup bonuses. Therefore, the impact of “waterfall” language on these cards may not be as alarming as it is on cards like the Delta card family and the AmEx Gold/Platinum. However, it’s crucial to acknowledge that this trend seems to be spreading rapidly throughout AmEx’s portfolio.

    Navigating the “Waterfall” Strategy

    If you’re an avid points collector and are starting from scratch, the best strategy is to progress sequentially within a specific card family. For instance, begin your journey with the AmEx Green Card, then move up to the Gold Card, and eventually set your sights on the Platinum Card. By following this order, you can maximize your signup bonuses “on the way up,” ensuring you receive the most value from your card applications.

    Bottom Line

    The introduction of “waterfall” lifetime language on the Amex EveryDay Card is part of a broader trend in the credit card industry, making signup bonuses more difficult to come by through churning. While these particular cards may not have an earth-shattering impact, the potential consequences for other card families and their associated signup bonuses should not be underestimated. As the credit card landscape continues to evolve, it’s essential for enthusiasts and churners to adapt and strategize, ensuring they make the most of the rewards available while staying one step ahead of the game. So, if you’re thinking about applying for an Amex EveryDay Card, make sure to read the fine print and consider your card progression carefully. Happy collecting!

  • AmEx Adds “Waterfall” Lifetime Language to Gold Card: What You Need to Know

    AmEx Adds “Waterfall” Lifetime Language to Gold Card: What You Need to Know

    American Express has been shaking things up in the credit card world lately, and not in a good way. They’re back with another curveball, this time targeting the AmEx Gold Card. If you’re a points & miles enthusiast who’s been eyeing that shiny Gold Card in your wallet, there’s some news you need to know – and it probably won’t be what you’re wanting to hear.

    Don’t Go Chasin’ Waterfalls

    First, let’s talk about what’s happening. AmEx has introduced new language on some of their cards in relation to who is eligible to receive a signup bonus. Aptly termed “waterfall language” by credit card churners, it’s all about preventing you from snatching up a signup bonus on a lower-tier card in a card family once you’ve held (or currently hold) a higher-tier card in that same family. In other words, if you hold (or have held) the AmEx Platinum, your ineligibility for a bonus “waterfalls” down to cards below it, but the inverse is not true.

    This language isn’t entirely new, but it is concerning. Waterfall language made its debut a few weeks ago on personal Delta cards. The idea behind it is to encourage cardmembers to keep progressing within a card family, from basic to premium, while making it less appealing to go “backwards.”

    This also comes on the heels of AmEx restricting welcome bonuses on Platinum Cards to count most variants as one product for the sake of the once-in-a-lifetime rule – and that’s reflected in the fine print we’ve quoted down below.

    The Impact on AmEx Gold Card

    So, how does this affect the AmEx Gold Card? Well, if you currently hold or have ever had any flavor of the personal AmEx Platinum card, you’re out of luck when it comes to scoring a signup bonus on the personal AmEx Gold. Ouch.

    This change is likely to disappoint current or former Platinum cardholders who were eyeing the Gold Card’s signup bonus. Fortunately, the rule doesn’t work the other way around, so Gold Card members can still chase that Platinum SUB if they desire.

    Here’s a snippet from the fine print on the Gold Card:

    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.

    New language restricting welcome bonuses from AmEx

    What’s Safe (For Now)?

    Fortunately, not all AmEx cards are affected. As of now, the AmEx Green Card remains unscathed by this “waterfall” rule, and the same goes for all the business cards in the AmEx lineup. But the big question here is if AmEx will continue to expand this rule.

    It’s worth noting that when AmEx rolled out this rule on the Delta card family, they left the lower-tier Delta Blue card untouched. The Delta business cards also got a free pass. It’s uncertain if AmEx will cast a wider net in the future, but history suggests it’s a possibility. In other words, if you have your eye on a particular AmEx card, and are a current or former holder of a higher-tier card in that family, you might want to grab those signup bonuses while they’re still available. For example, if you’re a Hilton loyalist with an Aspire Card in your wallet, now would be a good time to go ahead and grab the Surpass Card for the signup bonus.

    Strategy Going Forward

    So, what’s the game plan if you’re chasing those juicy Membership Rewards points and starting from zero? It seems the strategy is clear: progress sequentially within a given card family. For example, start with the Green Card, then move on to the Gold, and eventually, reach for the Platinum – in that order. This way, you can collect all those sweet signup bonuses “on the way up.”

    In the world of credit card rewards, change is the only constant, and AmEx’s “waterfall” rule is just the latest twist. Keep your eye on the ever-evolving landscape, and always stay one step ahead in the game of maximizing your credit card rewards.

  • AmEx Quietly Adds New Restrictions on Delta Cards

    AmEx Quietly Adds New Restrictions on Delta Cards

    AmEx has altered the deal – pray they do not alter it any further.

    American Express and Delta Airlines have long enjoyed a close partnership, offering a range of co-branded credit cards that have been popular among travelers seeking to maximize their SkyMiles and benefits. However, recent developments in the world of Delta and American Express credit cards have left many loyal SkyMiles members scratching their heads and, frankly, feeling a bit alienated.

    For years, American Express had a policy in place that allowed customers to enjoy a credit card welcome offer “once in a lifetime.” In practice, this typically translated to a wait period of 5 to 7 years before you could snag another tempting welcome offer. But there was a clever workaround for those savvy enough to exploit it – the various flavors of American Express Delta business and consumer cards were considered different products, enabling cardholders to potentially sextuple-dip into the world of Delta welcome offers.

    However, as the saying goes, all good things must come to an end, and it appears that the party may be over for the welcome offer aficionados. Danny the Deal Guru recently noticed the emergence of some intriguing “family language” on Delta consumer cards, similar to the language recently implemented on the AmEx Platinum family. This language, while not consistent across all Delta consumer cards, seems to put restrictions on obtaining a welcome offer if you’ve had other cards within the same family. Notably, Delta Business cards remain unaffected by these changes (for now).

    So, what’s the scoop on these new rules? Well, it seems the Gold Delta card is currently off-limits if you’ve had any of the three top cards in the Delta consumer card family in the past. However, there’s a glimmer of hope for those eyeing the Delta Platinum card – you might still be eligible for its welcome offer even if you’ve previously held the Gold card (though not the Reserve). And as for the Delta Reserve card, it appears to be business as usual, with no new restrictions in sight. Also notably, the Delta Blue card seems to go without mention, so that signup bonus may still be up for grabs. Some examples of the new language:

    You may not be eligible to receive a welcome offer if you have or have had this Card, the Delta SkyMiles® Platinum American Express Card, the Delta SkyMiles® Reserve American Express Card or previous versions of these Cards.

    Delta Gold Card

    You may not be eligible to receive a welcome offer if you have or have had this Card, the Delta SkyMiles® Reserve American Express Card or previous versions of these Cards. 

    Delta Platinum Card

    You may not be eligible to receive a welcome offer if you have or have had this Card or previous versions of this Card. 

    Delta Reserve Card

    Now, it’s worth noting that the variations in language between the Delta Platinum and Gold cards appear deliberate and targeted, rather than the result of a gradual rollout of a uniform family rule. Delta and Amex seem intent on allowing cardholders to ascend to more premium and expensive offerings, but they’re tightening the screws if you’re thinking of heading in the opposite direction. In other words, if you were planning to score welcome offers on all three cards by applying for the Gold, Platinum, and Reserve sequentially, you’re in luck. However, if you had your sights set on circling back to one of the other cards after having the Reserve or the Platinum, you might find yourself out of luck. This enhanced language has been aptly termed “waterfall language,” as signup bonus ineligibility “waterfalls” down from higher tier cards.

    As with many developments in the credit card rewards landscape, these rules are subject to change. It wasn’t long ago that Amex added more restrictive language to its various Platinum cards, so it’s entirely possible that we’ll see further tweaks down the road.

    In the ever-evolving world of credit card rewards, it’s crucial for travelers and points enthusiasts to stay vigilant and adapt to the changing landscape. With Delta’s recent moves to overhaul its SkyMiles loyalty program and tighten access to its SkyClubs, it’s clear that change is in the air. And if you’re not yet affected by these new rules, it may be worth grabbing the welcome bonuses for these cards before AmEx tightens the rules even further.