Reply
Valued Member
Posts: 85
Registered: ‎12-01-2007
0

AMEX Small Biz Policy/ Practices

[ Edited ]

Has anyone experienced this? Your small business ( our case C-Corp) finally gets FR'd. Yes, the FR was viewed as being a GOOD THING until our account continuously got suspended. Yes, even after the FR showing that the company grosses about 3Mil a year, AMEX will not let us charge more than $8k without being suspended. Total charges to date is just over $35k (account just turned 9 months today.) When the account was opened we told them on average we will charge about $10k MIN and this will exceed during special events and tradeshows. Well, we can't. It's pointless to keep paying off the card every two weeks  because even with that action taken ( the paying before the statement cuts) they still will not allow us to charge more. How about this. So a payment was made and we still can't charge a quarter of what was paid off, forget recharging the full amount. Two billing cycles ago I was told that our limit would increase by "1.5" aka a payment amount and a half. Was this true? NO! The rep said in June we could charge up to $10k per month without any headaches and its not true. When you call up to ask what's my limit. They ask "how much do you need to spend" and try to make you give them a definite payment date or schedule one.

 

Our company is better off paying by check, online bill payment and using another business card or debit card then this amex crap. I really think, I am going to cancel our account right before the 1 year anniversary because its done nothing more us but create yet another task. Vendors do not get paid and then the emails and the calls start coming. They even declined charges of $12!!!

 

It gets even better.

 

They suspended the account for the fourth time since we've had it ( first time since FR), until a partial payment is made. The balance was not even $7300 so what happened to "$8k limit based on average spending?"  No problem right? Well answer this... Why did AMEX start calling ADDITIONAL aka secondary cardholders about the account? They took the personal numbers from personal accounts and associated it with the business card and opted to call folks. Why would employees make payments on a "corporate" account? Yes our little green card says small business but in an employees mind, their employer is a corporation and hands everything. To make it even more interesting,  secondary card holders on the account have a hard time charging pass $1k per cycle.

 

I'm going to look into getting a Chase Business Card because I just can't win with AMEX. Whatever their criteria for being flexible is... clearly I/we don't meet even with making as much money as we do. I'm one minute away from canceling my Plat card too. Total waste of money for me...and this is coming from someone who spends at least $100k+ per year in travel.  :/

 

Sidebar- Just to give you guys an idea of what we deal with look at this:

 

09/01/2012 1,029.50 Retail Store (Shop) Referred At the time of the transaction, the request could not be approved.
09/01/2012 2,059.00 Retail Store (Shop) Referred At the time of the transaction, the request could not be approved.
08/30/2012 103.69 Mail/Phone Order Denied At the time of the transaction, the request could not be approved.
08/29/2012 1.99 Mail/Phone Order Denied At the time of the transaction, the request could not be approved.
08/29/2012 1.22 Mail/Phone Order Denied At the time of the transaction, the request could not be approved.
08/29/2012 1.66 Mail/Phone Order Denied At the time of the transaction, the request could not be approved.
08/29/2012 54.44 Travel Referred At the time of the transaction, the request could not be approved.
08/28/2012 1,389.83 Retail Store (Shop) Referred At the time of the transaction, the request could not be approved.
08/24/2012 1,500.00 Retail Store (Shop) Referred At the time of the transaction, the request could not be approved.
08/18/2012 1,389.83 Retail Store (Shop) Referred At the time of the transaction, the request could not be approved.
08/18/2012 2,059.00 Retail Store (Shop) Referred At the time of the transaction, the request could not be approved.
08/17/2012 1.67 Mail/Phone Order Denied At the time of the transaction, the request could not be approved.
08/17/2012 1.99 Mail/Phone Order Denied At the time of the transaction, the request could not be approved.
08/14/2012 1,389.83 Retail Store (Shop) Referred At the time of the transaction, the request could not be approved.
08/14/2012 45.94 Travel Denied At the time of the transaction, the request could not be approved.
08/13/2012 3.50 Mail/Phone Order Denied At the time of the transaction, the request could not be approved.
08/11/2012 27.99 Mail/Phone Order Denied At the time of the transaction, the request could not be approved.

....and this is a limited list of declines on one card...now can you imagine if I listed acrossed cards? Like I mentioned above this leads to all the vendors calling for payment. Makes no sense at all. In my situation Amex needs to put a hard limit on small business cards and call it a day. They do not want us to use their card, no problem.Oh yeah, they are prejudice in what charges they approve too. Vendor X may charge may get approved for a larger  (or smaller) amount when Vendor Z couldn't even get a $20 charge approved.

Valued Contributor
Posts: 2,505
Registered: ‎11-11-2010
0

Re: AMEX Small Biz Policy/ Practices

Get business CC from other banks.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Epic Contributor
Posts: 24,351
Registered: ‎10-23-2007
0

Re: AMEX Small Biz Policy/ Practices

WOW, I had issues long ago the first few months getting much over $5k or so but then sent a letter and it was corrected and I never had issues until after the crash of maket and then they just started averaging every 6 months and that was what could be charged...

but that is crazy about payments and not charging, etc.

I have had Amex call and ask for payment and unlock instant before they even begin to get the money let alone after the money has cleared!

I have just never heard of this ESPECIALLY if you went through FR - You still have that person's Phone #, Id be seeing what kind of tags, notes are on your account and why this is happening.

 

In mean time you are right, Chase Ink BOLD!

Fico Scores: EQ- 670., TU 705 Sync, EX 700 (04/20/15)
I'm just trying to catch up to RON1
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
83 Cards and Counting :smileytongue:
Valued Member
Posts: 85
Registered: ‎12-01-2007
0

Re: AMEX Small Biz Policy/ Practices

I agree with you and @trumpet-205. It's time to make that move to another card. I completely forgot about my post until I got an email saying "unusual spending pattern." The charge was for under $3k and the biz balance is not even $6000. Yup, they are still fooling around. What a shame. 2013... I going to leave home without it!

 

Phone number? They told me there was not an "account mgr", anyone can help me. Last time, I spoke to a rep I wanted to put the phone down and come behind her and just give her a good slap because she made absolutely no sense. I asked her, what was the point of the FR if we can not charge aquaint business expenses. I reminded her I was  asked how much the company will be  spending on average. I told them $10k per month with an expected increase during "award season."

 

I'm done trying to figure them out, all I will say is either we are flagged "just because aka demo" or they want us to spend money in certain businesses. Unforunately, I look for deals and have business relationships with certain companies so I spend my company money where I am welcome and respected. 

 

 

 

 

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.