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My account is old with no active services for years. It didn't seem to be qualified either.
Makes a lot of sense if only brand-new accounts are qualified. A smart way to attract new customers.
My account was ~8 years old or so. Got approved for the free tier within 1 day.
2015 account. It took them about 3 days to approve my application. I think it's been over a year since I ran any services via Vultr. Never spent >$5/m with them.
2018 account, had some 2$ credit and an expired CC in there, got approved in a couple of days.
Applied for the free tier program and was approved within 24 hours. I opened my Vultr account in 2016 so I wouldn't say they are only approving new accounts.