Update: As Physix Fan pointed out: ‘The CSR says in 90 days you can only get two lending cards. This means you can’t get a third lending card during a period of 90 days. This does not mean you can only keep 2 lending cards. And basically this policy is nothing new.
American Express currently limit consumers to holding a maximum of four of their credit cards (credit cards by other issuers that run on their payment network do not count towards this limit), there is no limit on the number of charge cards consumers can hold. Reddit user coptermedic has reported that when they recently applied for the 35,000 SPG offer that the representative stated that in 90 days time you’ll be limited to only two American Express credit cards.
Personally this rule doesn’t make a lot of sense (although neither does the limit of four credit cards), American Express have already put in a preventative measures to stop people chasing sign up bonuses – this really just limits them chasing spending bonuses or benefits. It’s also something I don’t think co-branded partners would be thrilled with (what do you mean this loyal consumer can’t get the Delta card because they already have the Platinum & Everyday Preferred?). They might want to limit exposure to credit defaults from individuals without having to reduce the generous credit lines they normally hand out.
I think this is more a case of a customer service representative having incorrect information, but ocassionally they do out information they’ve been briefed on that they aren’t supposed to leak just yet. Feel free to discuss this in the comments below.
