My Charles Schwab Amex Platinum Application Tragedy
As we all know this hobby has become harder and harder over the years. Chase has been adding rules right and left, Bank of America USED to be a sure thing, and Barclays is Barclays. The one sanctuary I have had, my safe harbor so to speak, has been good ole American Express. They love me, they give me what I need, and I repay them with a ton of spend and I pay many of their annual fees. This is all why I felt like my Charles Schwab Amex Platinum application was a sure thing!
I very much wanted the Charles Schwab Amex Platinum. I wanted it for the 60,000 point welcome offer, the numerous Platinum card perks, and the ability to cash out Membership Rewards at 1.25 cents a piece. Because of this I finally got around to signing up for the one card EVERYONE should get! I jumped through the hoops of signing up for the Charles Schwab checking and brokerage account, and the hard pull that comes with it. Chuck at Doctor of Credit has a good breakdown of the process of signing up for the brokerage and checking account.
Once I completed that I moved on to the American Express Charles Schwab Platinum application page. I filled out my information and awaited my “sure thing” approval that I was bound to get. I mean this was a charge card after all which is even easier to get than a credit card, charge cards have less rules.
The page sat there for a few seconds and then I saw it, to my horror the dreaded popup came up. No! This can’t be. I have never had the Charles Schwab card, but I have had the regular platinum and Ameriprise version in the past. To say I was depressed would be an understatement. I had everything lined up. I was even in line for the airline incidental triple dip. Why are they doing this to me?
Thoughts On Why I Got The Popup
American Express instituted a new program where they will alert you if you are not eligible for a welcome bonus before your application goes through with a pop up. This was first thought to only come up when you have already had the card before but people have been seeing it for other reasons as well.
The pop up could be because they are now lumping all Platinum cards together but I don’t think that is the case. I haven’t heard of any other reports of that. Now if the points didn’t post properly they may use that excuse to deny the welcome bonus. But I don’t think they are denying it up front at this time.
I am guessing it is because of my application history. Although I have only signed up for the Aspire card earlier this year and the Prime Amazon business card recently. Don’t judge me on the last one, I was tired of sourcing gift cards at stores and wanted to simplify my life.
It could be because of closures but the only thing I have closed this year is my Ameriprise Platinum. That was the 3rd annual fee for the card so it wasn’t even a hit and run situation. So would they be upset about that?
I have no idea at this point but I am sad about it. I guess I will wait 5-6 months and try it again. Since I already have the Schwab account I might as well. At least I should get a $100 bonus for that so it isn’t a total loss. Plus I need their debit card for international travel, it is amazing!
2018 has been a rough year for me and this is just another nail in the coffin. My safe harbor told me to find another beach to dock on. I am looking at you Citi, at least you still show me love. Well every 2 years at least…
Share your thoughts on why American Express told me I am no longer attractive to them in the comments.