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Amex Prepaid Reloadables – Get More Than One
For a very very long time, the big limit of Bluebird/Serve/REDcard was that you could only have one card per person/SS# across all products. This significantly limited the amount of MS you could do since each card carries a $5K monthly load limit. Some recruited family members or friends to get additional cards, while others kept it small with 1 or 2.
Then of course, Amex started shutting down Bluebird/Serve accounts. Well, to be fair they didn’t shut them down per se, they just made it so funds can’t be loaded to them. Which begs the question, “What do you call a reloadable card without the ability to reload?” *chirp* I got nothing.
Anyway, with so many people shutdown, it seems that Amex may want to grow the ranks of their cardholders. They have now removed the “one card per person rule”. (Note: You can still only have one of each product.) Here is how it is explained in the Serve FAQ:
Can I have additional American Express Reloadable Prepaid Products?
Yes, if you already have an American Express Serve Account you are still eligible to register for:
Bluebird by American Express Account
Target Prepaid REDcard by American Express Account.
What If You Have Been Shutdown?
This new policy is great news, especially for those who want to maximize the number of cards they have for Amex Offers. (Not there have been a ton of great ones lately.) So the big question is, will they allow you to open other products if you have been restricted? I think the answer is no.
Shortly after the initial shutdowns, people did have success opening new accounts, but those were shutdown fairly quickly too. Now it seems Amex has a sort of prepaid blacklist or at least I think they do. After seeing this news I attempted to open a REDcard and a Bluebird card. Both times I was “denied”.
According to the Serve website, there is one current limitation if you have more than one of the prepaid reloadable cards in your name.
Have a Bluebird or Prepaid REDcard Account? Users with more than one Account are unable to send and request money from other users and deposit money by check through our app while we make improvements to our site.
If you often send money between accounts, then perhaps you’ll want to think twice before opening up multiple cards. If not, then these restrictions aren’t a huge deal at all.
Does This Matter?
I think this is definitely good news for some. Obviously some people will probably want to get a REDcard for the 5% Target discount and others will want more Bluebird/Serve cards for Amex Offers. Then there are the people who will probably get the cards and load them to the max for a month or so before getting shutdown. Any way you slice it, this news will be good for a few. For others like me, too late amigos.
Have you had success in getting a new Amex prepaid reloadable after being shutdown? What do you think about this new policy? Let us know in the comments!
HT: Doctor of Credit
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.