Put a fork in it 5.1.2014: One bonus per personal card per person "lifetime" [USA]

Any truth to this rumor?

Define churning? Repeating bonuses or making the spread via MS.

How about a source of the rumor???

And yes, what exactly do you mean by churning? In addtion to what TravelerMSY mentioned, it could also mean including an AMEX card as part of an AOR.

So it's not at all clear from your post what this rumor says is changing, along with what the source of the rumor is.

Customer Reps at AMEX have been reportedly quoting a new rule going into effect May 1 that you are only allowed one bonus per card/per lifetime. Period. Becoming more like Chase I guess with the one per lifetime rule, although that's not always enforced, so we'll have to wait and see how strict they are going to be on this. If it's true of course...
Feel free to call for yourself.

Yup. Looks for real. Details may still be a little shaky but in general, AMEX is going to a one-bonus-per-lifetime policy.
Shouldn't be much of a surprise though. Inevitable results of a hobby that has obviously gone way too mainstream. What is truly surprising is these banks allowed so much churning for so long.
But like the Borg, I'm sure we will adapt...

Or you can just link to the post on dansdeals:

http://www.dansdeals.com/archives/41831

HT: ctownflyer

Doesn't look like we need to. A Dan-bot has dutifully done did so already.

hope this doesn't apply to canada!

What bet they don't update their web site so that when you apply you're told you were accepted, but can't get the promotion.

An application for BCP had the wording that I "may not be eligible" for the promotion. So I called and asked before I applied for the card, printed out a PDF of the approval message saying I got the card and the bonus, and called after applying and was again told I got the promo. So then I hit the minimum spend and called again and they were like, "oh, oh, wait a minute!"

Four calls and 3 months later, someone from there "executive customer service dept" called and was very apologetic . She must have apologized twenty damn times despite my telling her I really didn't care if she was personally sorry, I just wanted her to fix it.

She point blank told me AMEX wouldn't check the call logs and the printout of my acceptance web page was irrelevant. I needed to have printed out the application page. So basically AMEX isn't responsible for what they tell you on the phone or what their web site tells you. The executive customer service lady point blank said, "yeah, sometimes the people answering the phone get it wrong.., I'm so sorry!"

The days of AMEX being the peace of mind bank are over. AMEX is just riding on their reputation of the past. If you're a card holder because of the benefits, fine. Just don't expect them to have your back if something goes hay wire. It might work out for you, but in my experience it works out less than it does with other banks.

Chase is kicking their butt and AMEX isn't responding. Just letting Chase slowly eat into their profits margin. Probably have to be some kind of catastrophe earnings-wise before AMEX revamps.

Their new Everyday cards look like an effort to respond, but their criteria of having to use their Preferred card 30 times in a month is pure paranoia. I do some modest MS and don't use my credit card 30 times a month. I could get the lower Everyday card and without doing a bunch of trivial charges hit their 20 / month transaction limit. But then I'd have to completely stop using any card besides my AMEX Everyday. I'd be fine using 2 cards, like one for restaurants and entertainment and one for groceries, drugstores, gas... But 1 card is just laziness.

It's like AMEX is trying to figure out how to reward loyalty rather than just grab lazy people who sign up for a big bonus and hope they never bother to switch cards again. But this transaction limit, it's like they're not able to do that without being paranoid schizophrenic about the churners. That transaction limit, they're basically encouraging regular folk to make spurious charges. And if you're making spurious charges anyway... hey, why not make them gift cards at the grocery store??!

I half heartly agree with what you are saying. Yes they aren't very nice about helping fix messes with reward bonuses. That happened to me when I signed up for my Amex PRG. It was a 50k MR points bonus but I only recieved half 25k. That really chapped my hide because I had plans for those points.

What I've done is make PRG my daily spender for me and my wife. We could easily hit 30 swipes a month, I'd bet we swipe 50 times a month given bills and auto pays. I think that is what they are targeting with the new everyday cards. However I don't understand creating a competing card for what you already offer. Especially when it has spending caps while PRG doesnt.

With that being said, its really sad that they aren't offering mulitple bonuses for new cards. I for one hunt bonuses but I guess I should just keep daily spending in order to rack points. What else can you do?

I figured it has a lot more info, and helps elevate this from "rumor" to "possibility" . I'm hardly a Dan-bot but the guy does generally know his stuff.

Actually Amex has been steadily increasing their revenue (and dividend) for years, and is currently trading near their 52 week high.

Searched and didn't see this anywhere.. Please merge as required.

Amex apparently wont give bonus to consumers after may 1st in case you have ever held the card and not just the last 12 months as it usually does. Saw this link on one of the blogger sites

link

The 12 month policy is relatively new, and replaced ambiguously worded policies which varied from one card product to another. As always, the key will be how American Express implements this. In practice they will not want to turn away profitable business, but it will be useful to have a policy to justify declining applications from those with a history of churning for signup bonuses.

Unless something miraculous happens, this is a whole lot more than a possibility