This
could mean that American Express will:
- Reject the application if the applicant has a history of opening/closing accounts for bonuses.
- Notify the applicant that there will be no bonus before the physical cards are delivered.
- Provide no notice of ineligibility, and withhold the bonus.
I would be okay with 1 or 2, but of course not 3.
#3 is how the have handled previous instances of witholding bonus. Accepted for the card, but then no bonus if you previously had the card.