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Let’s say that you had a specific rewards earning credit card a couple of years ago that you cancelled because you no longer flew that particular airline or your spending patterns simply didn’t align with what that card hard to offer anymore, or whatever. Fast forward to a couple of years later and your spending patterns or type of points you desire changes again and the card you cancelled a couple years ago now looks useful one more time. The question becomes can you get the card again? If you are a points junkie the second question is probably can you get the sign-up bonus again?
Like with most things in life, it depends. Assuming you have good credit, you can usually get the card again, but whether or not you get the sign-up bonus can be more variable. Some banks give you the sign-up bonus the second time more freely than others (ahem Bank of America). Some banks now have language on certain offers indicating that you can only get the sign-up bonus once for the card (cough, Amex personal cards). However more and more I have been seeing clearer terms when it comes to obtaining Chase credit cards. This is great so you can know what to expect if you decide to get a credit card that you have had in the past.
I checked the terms of several different personal and business Chase credit cards and the terms often stated that:
This new cardmember bonus offer is not available to either (i) current cardmembers of this consumer credit card, or (ii) previous cardmembers of this consumer credit card who received a new cardmember bonus for this consumer credit card within the last 24 months.
Of course you need to check the terms of each offer individually before applying as the terms could vary, but this language is relatively new to Chase offers. I very much appreciate that the language in the terms indicates that after 24 months of having the card you could get the new cardmember bonus again if you decide the card again meets your needs. Life just isn’t predictable enough with moves, mergers, award chart changes, etc. to be able to know if a certain rewards earning card is perfect (or wrong) for you forever, so being able to be treated as a new cardmember after 24 months gets a big thumbs up from me.
Have you noticed this type of language on some offer terms recently?
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.