Amex Working Capital Terms Program

[mattmyFIC0]

I had an offer for this in my Amex account. I applied last night through my online account and was approved this morning. It is a HP

[Anonymous]

What are the specifics of this program?

[Anonymous]

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@Anonymous wrote:
What are the specifics of this program?

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This should help:

http://www.businessnewsdaily.com/9211-american-express-loan.html

[mattmyFIC0]

Thanks for that Irish

So far it is glitchy and wont even allow me to link my checking account

[Red1Blue]

Congrats. That is a very nice approval from Amex. It wil come in handy for your business.

[SouthJamaica]

I signed up a few months ago but haven't used it.

One oddity is you can't send checks, can only pay your vendors by ACH.  Seems rather limiting.

Another oddity is that when I was approved my credit limit was 100k; when I looked the other day it was 30k ?!

[mattmyFIC0]

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@SouthJamaica wrote:

I signed up a few months ago but haven't used it.

One oddity is you can't send checks, can only pay your vendors by ACH.  Seems rather limiting.

Another oddity is that when I was approved my credit limit was 100k; when I looked the other day it was 30k ?!

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Thanks for that info! I may try using it just to see how it works. Most of my vendors accept cc and I'd rather get rewards.

[SouthJamaica]

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@mattmyFIC0 wrote:

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@SouthJamaica wrote:

I signed up a few months ago but haven't used it.

One oddity is you can't send checks, can only pay your vendors by ACH.  Seems rather limiting.

Another oddity is that when I was approved my credit limit was 100k; when I looked the other day it was 30k ?!

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Thanks for that info! I may try using it just to see how it works. Most of my vendors accept cc and I'd rather get rewards.

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To add a vendor you need their bank account number and routing number.

[rlx01]

This is kind of a weird product considering they have Pay Over Time on their charge cards and those limits and APRs are very generous (our POT line is 100k at 5.99% which is amazing for a business LOC).