AMEX Small Biz Policy/ Practices[ Edited ]
09-01-2012 05:49 AM - edited 09-01-2012 06:23 AM
Has anyone experienced this? Your small business ( our case C-Corp) finally gets FR'd. Yes, the FR was viewed as being a GOOD THING until our account continuously got suspended. Yes, even after the FR showing that the company grosses about 3Mil a year, AMEX will not let us charge more than $8k without being suspended. Total charges to date is just over $35k (account just turned 9 months today.) When the account was opened we told them on average we will charge about $10k MIN and this will exceed during special events and tradeshows. Well, we can't. It's pointless to keep paying off the card every two weeks because even with that action taken ( the paying before the statement cuts) they still will not allow us to charge more. How about this. So a payment was made and we still can't charge a quarter of what was paid off, forget recharging the full amount. Two billing cycles ago I was told that our limit would increase by "1.5" aka a payment amount and a half. Was this true? NO! The rep said in June we could charge up to $10k per month without any headaches and its not true. When you call up to ask what's my limit. They ask "how much do you need to spend" and try to make you give them a definite payment date or schedule one.
Our company is better off paying by check, online bill payment and using another business card or debit card then this amex crap. I really think, I am going to cancel our account right before the 1 year anniversary because its done nothing more us but create yet another task. Vendors do not get paid and then the emails and the calls start coming. They even declined charges of $12!!!
It gets even better.
They suspended the account for the fourth time since we've had it ( first time since FR), until a partial payment is made. The balance was not even $7300 so what happened to "$8k limit based on average spending?" No problem right? Well answer this... Why did AMEX start calling ADDITIONAL aka secondary cardholders about the account? They took the personal numbers from personal accounts and associated it with the business card and opted to call folks. Why would employees make payments on a "corporate" account? Yes our little green card says small business but in an employees mind, their employer is a corporation and hands everything. To make it even more interesting, secondary card holders on the account have a hard time charging pass $1k per cycle.
I'm going to look into getting a Chase Business Card because I just can't win with AMEX. Whatever their criteria for being flexible is... clearly I/we don't meet even with making as much money as we do. I'm one minute away from canceling my Plat card too. Total waste of money for me...and this is coming from someone who spends at least $100k+ per year in travel. :/
Sidebar- Just to give you guys an idea of what we deal with look at this:
....and this is a limited list of declines on one card...now can you imagine if I listed acrossed cards? Like I mentioned above this leads to all the vendors calling for payment. Makes no sense at all. In my situation Amex needs to put a hard limit on small business cards and call it a day. They do not want us to use their card, no problem.Oh yeah, they are prejudice in what charges they approve too. Vendor X may charge may get approved for a larger (or smaller) amount when Vendor Z couldn't even get a $20 charge approved.