Data Point:
I had signed up last January and double dipped the UA and DL offers.
I churned the money, and received the bonus in perhaps March or so.
I signed up for the AA offer in April, but received the denial email.
Fast forward to 2013.
Signed up in early Feb for the AA offer, and received the denial email a few days later.
Called yesterday, and the rep told me I had signed up last April, and the 12 month period hadn't ended ended yet.
I told him that I didn't receive that promo, just the UA promo. He checked and confirmed that the UA promo was over 12 months prior.
He told me that he notated my account that I was eligible, and that once I funded the account, I should call up and they would send the points.
Takeaways:
He didn't mention my churning the money last year.
He didn't mention my not leaving in the money for 12 months last year.
Since I have to call in, there's no chance that churning money will work.