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Amex SimplyCash+ (first biz approval) + milestone!

Valued Contributor

Amex SimplyCash+ (first biz approval) + milestone!

I decided it was time to start building business credit for my business, so I went to the OPEN site to apply and decided to call in to app, a lot of the language was confusing and I didn't want to put inaccurate info in the app. Went through all the disclousures and submitted the app, rep told me it went to pending. After I hanged up I called New Accounts, apparently New Accounts handles both personal and business apps. After rep processed app, came back approved for $22.2k with mid-tier APR of 17.49%. SHOCKED!! With all my recent activity, and a new car lease reporting I thought I would get denied or get a $1-5k CL with max APR. I plan on getting a CLI on mt EDP in the next few months and then combining every revolver into a 35-40k CL (but thats 9+ months away). This also puts me past 300k in credit limits, $301.05k to be exact. Not to bad for a 19 year old...

 

Data Points:

Pulled EX at 719 (down because of recent balances reporting, but PIF as always), my first revolver with amex was a $1k CL with max apr (BCP), second was EDP and approved with a 10k CL with max apr, and now this, about 3 months between each account opening, so they seem to be liking me more and more.

 

Screen Shot 2016-08-05 at 9.40.25 PM.pngScreen Shot 2016-08-05 at 9.43.17 PM.png

Up to $315k in CLs. FICO scores are 750s across the board.
Message 1 of 8
7 REPLIES
Valued Contributor

Re: Amex SimplyCash+ (first biz approval) + milestone!

Congrats! They only gave me 3k lol but that's enough for my little side business so it's ok.
Message 2 of 8
Senior Contributor

Re: Amex SimplyCash+ (first biz approval) + milestone!

This is a fantastic approval and SL, congrats on your success !

Message 3 of 8
Valued Contributor

Re: Amex SimplyCash+ (first biz approval) + milestone!

Outstanding! Congrats on the approval and great SL on this. 


Message 4 of 8
Valued Contributor

Re: Amex SimplyCash+ (first biz approval) + milestone!

Congrats on the HUGE approval for the SimplyCash+ card!

 

The SimplyCash+ card is subject to the four credit card maximum with Amex. Whether business or personal, four cards are the maximum. I've heard some tales about Starwood perhaps being allowed as a fifth card...  Starwood is merging with Marriott, so this could be a last gasp to collect some cardholders or higher fees if Chase merges the their Marriott Visa with the Starwood Amex.

I was going to garden... Honest!
Message 5 of 8
Super Contributor

Re: Amex SimplyCash+ (first biz approval) + milestone!

Belated congrats.
Starting score EQ SW 563 April 2014, Fico 8 EQ 801, EX 794, TU 805 (April 2016)
Message 6 of 8
Established Member

Re: Amex SimplyCash+ (first biz approval) + milestone!

Congrats!!

Message 7 of 8
Highlighted
Valued Contributor

Re: Amex SimplyCash+ (first biz approval) + milestone!

Another belated congrats. Got approved around the same time myself. Did you get the $250 for $3K spend promo, as well?

EX EQ TU
Score 819 833 838
INQs 12 8 8
Last INQ 17 Feb 18
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