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Sole Proprietor (New to Amex) and Simply Cash question

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MyLoFICO
Valued Contributor

Sole Proprietor (New to Amex) and Simply Cash question

I was recently (Friday) approved for an AMEX BCP (2k SL) and ED ($500 SL) cards. If I apply for the Simply Cash will it give me a HP if I don’t get it since I am a sole proprietor? Or will it be a fresh HP?


Experian: 677 (28) | TransUnion: 697 (27) | Equifax: 684 (6)
Gardening as of: 1-23-2018
Updated 1-25-18
Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: Sole Proprietor (New to Amex) and Simply Cash question

Fresh HP and it will be at least a week later because they are all revolvers.
Message 2 of 5
MyLoFICO
Valued Contributor

Re: Sole Proprietor (New to Amex) and Simply Cash question

You mean it will be a week before I get a decision? When they approve for business cards do they ask for a FR to prove income? My business is small and my income is not great. But I don't want to have to jump through hoops for a small business. I am not looking for huge SL either. 5-10k would be sufficient for my needs. 


Experian: 677 (28) | TransUnion: 697 (27) | Equifax: 684 (6)
Gardening as of: 1-23-2018
Updated 1-25-18
Message 3 of 5
Anonymous
Not applicable

Re: Sole Proprietor (New to Amex) and Simply Cash question

I mean they don't approve multiple revolvers on a single credit pull, and will wait a week before doing a new pull and probably approving you again.

No they don't require POI, my business is just a hobby i do occasionally for fun and sometimes don't make any money during the year, yet they approved 3 business cards for me. Initially a tiny 2 or 3k SimplyCash, then later a 10k SPG and 10k Blue for Business.
Message 4 of 5
MyLoFICO
Valued Contributor

Re: Sole Proprietor (New to Amex) and Simply Cash question

Sounds like exactly what I need. Thanks for the info. I'll wait till Saturday since today makes it 7 days since the last one. 


Experian: 677 (28) | TransUnion: 697 (27) | Equifax: 684 (6)
Gardening as of: 1-23-2018
Updated 1-25-18
Message 5 of 5
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