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jfaltus
Posts: 6
Registered: ‎08-11-2011
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Amex Business Gold Rewards (Approved!)

Its been a long road and Amex finally came through. Initial response was denied via the online application, I called Amex executive office and they transferred me to "Special Handling" department which was overseas. The gentleman took all my information for the recon and said to expect another HP and a final decision within 48 hours. I also included history of a corporate card through my employer that is not guaranteed through me (however I pay the bill every month) This corp card has approx $100K per qtr in charges and paid in full every month. The recon took 8 days, I thought they were not interested, but came back today approved with NPSL and 50,000 bonus points! BTW, this card is for a small business of 2 Laundromats that I own on the side. Initial denial reasons were: Too many inquires (5) on Experian.. I explained these were from the recent acquisition of the 2nd store. Not long enough SBC history 2 years (Small Business Credit Equifax) 683 Personal Experian fico. (My lowest report by far) Side notes, Personal DTI 28 % 1 baddie on Experian, Student loan CO from 5 years ago. Total income with employer and side businesses $260,000. Do not give up! Always recon... Justin
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myjourney
Posts: 26,620
Registered: ‎02-07-2013
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Re: Amex Business Gold Rewards (Approved!)


jfaltus wrote:
Its been a long road and Amex finally came through. Initial response was denied via the online application, I called Amex executive office and they transferred me to "Special Handling" department which was overseas. The gentleman took all my information for the recon and said to expect another HP and a final decision within 48 hours. I also included history of a corporate card through my employer that is not guaranteed through me (however I pay the bill every month) This corp card has approx $100K per qtr in charges and paid in full every month. The recon took 8 days, I thought they were not interested, but came back today approved with NPSL and 50,000 bonus points! BTW, this card is for a small business of 2 Laundromats that I own on the side. Initial denial reasons were: Too many inquires (5) on Experian.. I explained these were from the recent acquisition of the 2nd store. Not long enough SBC history 2 years (Small Business Credit Equifax) 683 Personal Experian fico. (My lowest report by far) Side notes, Personal DTI 28 % 1 baddie on Experian, Student loan CO from 5 years ago. Total income with employer and side businesses $260,000. Do not give up! Always recon... Justin

Congrats on the gold

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Established Contributor
scenery_guy
Posts: 958
Registered: ‎07-24-2012
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Re: Amex Business Gold Rewards (Approved!)

Congratulations with the recon approval! Nice point bonus as well. Nice data point on the recon being handled by "special handling" as assigned by EO. 

Member
jfaltus
Posts: 6
Registered: ‎08-11-2011
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Re: Amex Business Gold Rewards (Approved!)

Thanks guys!
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red259
Posts: 2,096
Registered: ‎06-05-2013
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Re: Amex Business Gold Rewards (Approved!)

How hard is it to get an Amex business card if my business is a sole prop? I have a legitimate business and really need a business card as I do not like running business expenses through my personal cards for book keeping reasons.


Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 730 6/27/14
Goal Score: 800 In garden until 1/2015
Established Contributor
scenery_guy
Posts: 958
Registered: ‎07-24-2012
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Re: Amex Business Gold Rewards (Approved!)


red259 wrote:

How hard is it to get an Amex business card if my business is a sole prop? I have a legitimate business and really need a business card as I do not like running business expenses through my personal cards for book keeping reasons.


It's easy! Poke around here in the business threads and you will see many options. In the last year I have picked up three Chase Ink cards (Cash Plus and Bold), AMEX Business Platinum, AMEX SPG Business, AMEX Delta Reserve and most recently the Club Carlson Business. That's 7 in a year total and I am a sole proprietor as well. AMEX and Chase want your business so do some research and pick a card or two. The applications are easy, you will get a personal HP but after that it will no longer effect your personal score even if you use it heavy and pay AFTER the bill posts but before it's due. That's huge in helping keep personal UTL low. 

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HiLine
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Re: Amex Business Gold Rewards (Approved!)


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