REI Co-op prior cardmember rule

What it does

The REI Co-op Mastercard, issued by Capital One, pays its welcome bonus as a one-time REI gift card, and its offer page limits who can get it: "Existing or previous REI Co-op Mastercard cardmembers will not be eligible for this one-time gift card." The bar is on having held the card, with no mention of whether you ever received the bonus, and no duration appears anywhere on the page. We therefore treat it as permanent, and that permanence is our reading of an absence rather than something Capital One states.

How it works

• "Will not be eligible" is categorical, so we drop the bonus rather than flagging it as uncertain.
• The bar is on the account, not the bonus. Having held the card is enough even if the gift card never arrived.
• No waiting period appears on the page. Our permanent reading comes from that silence, not from a Capital One statement, so treat it as our inference and check the terms if the timing matters to you.
• It reaches this card and nothing else. Your other Capital One cards are unaffected, and REI history does not bar a Savor or a Quicksilver bonus.
• This is a bonus rule, not an approval rule. The application can still be approved.

What to do

• If you have held the REI card before, assume the gift card will not pay and judge the card on its REI dividend and everyday earn instead.
• If you have never held it, take the bonus on your first application. There is no second chance published anywhere.
• Read the offer page before you apply. Capital One states this in the offer details rather than in a separate terms document.