cancel
Showing results for 
Search instead for 
Did you mean: 

Amex Working Capital Terms Program

Established Contributor

Amex Working Capital Terms Program

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

 

working_capital_screenshot.png

Scores 01/04/2017: EQ 719, TU 750, EX 716
Goal scores: 740 across the board
Message 1 of 9
8 REPLIES
Valued Member

Re: Amex Working Capital Terms Program

What are the specifics of this program?
Message 2 of 9
Moderator

Re: Amex Working Capital Terms Program


Tyger50 wrote:
What are the specifics of this program?

This should help:

 

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

Message 3 of 9
Established Contributor

Re: Amex Working Capital Terms Program

Thanks for that Irish Smiley Happy

 

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

Scores 01/04/2017: EQ 719, TU 750, EX 716
Goal scores: 740 across the board
Message 4 of 9
Super Contributor

Re: Amex Working Capital Terms Program

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

Message 5 of 9
Super Contributor

Re: Amex Working Capital Terms Program

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 ?!


FICO8 EQ 749 TU 770 EX 716 Total revolving 480k







Message 6 of 9
Established Contributor

Re: Amex Working Capital Terms Program


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 ?!


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.

Scores 01/04/2017: EQ 719, TU 750, EX 716
Goal scores: 740 across the board
Message 7 of 9
Highlighted
Super Contributor

Re: Amex Working Capital Terms Program


mattmyFIC0 wrote:

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 ?!


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.


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


FICO8 EQ 749 TU 770 EX 716 Total revolving 480k







Message 8 of 9
Established Contributor

Re: Amex Working Capital Terms Program

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).
Message 9 of 9