Applied today and was instantly approved. I went ahead and created an EC Account beforehand, and was logged in when I went through the booking/application process.

Interestingly enough, for some reason I got it into my head that the best flexible/refundable ticket would be an F ticket, so I went through the process 3 times without success before re-reading the first post and realizing I should book Y instead. While this experience does not provide enough data to make a certain claim, I wonder if this is a card not targeted at people who pay full-fare F?