topic Re: Approved Amex Platinum!!!!! in Credit Card Approvals

Approved Amex Platinum!!!!!

Anonymous — Sat, 17 Oct 2015 14:47:29 GMT

Let me just share my experience with applying for the AMEX Business Platinum.

My credit score right now is CRAP (600)... unsatisfied auto loan charge-off from 2012, 2 collections totaling $7,000, etc. However, since 2013, things have done a complete 180, and my new business has been doing well. Since my credit is so bad, I froze my reports so no one can look at them.

I applied for this offer just for kicks, and I was approved!

BOTTOM LINE... if you got the TARGETED 150k bonus point offer, you will be approved with **NO** CREDIT INQUIRY

(***may have to have files frozen for this to work)

(I was targeted for this offer by having a consistant $200,000+ balance in a Bank of America Business Checking account.

Re: Approved Amex Platinum Card!!!!!

Country_Feller — Sat, 17 Oct 2015 12:33:41 GMT

Good job and Congratulations!!!!!

Re: Approved Amex Platinum!!!!!

gdale6 — Sat, 17 Oct 2015 14:52:06 GMT

OP, Welcome to myFico

I have started your own approval thread and changed the title leaving everything else intact. Congrats on your new card!

Re: Approved Amex Platinum!!!!!

OmarGB9 — Sat, 17 Oct 2015 14:52:32 GMT

Grats

Re: Approved Amex Platinum!!!!!

Anonymous — Sat, 17 Oct 2015 14:58:39 GMT

Wow such a sweet deal. Congrats to you!! Wishing you all of the best with your business.

Re: Approved Amex Platinum!!!!!

SouthJamaica — Sat, 17 Oct 2015 15:49:47 GMT

@Anonymous wrote:
Let me just share my experience with applying for the AMEX Business Platinum.

My credit score right now is CRAP (600)... unsatisfied auto loan charge-off from 2012, 2 collections totaling $7,000, etc. However, since 2013, things have done a complete 180, and my new business has been doing well. Since my credit is so bad, I froze my reports so no one can look at them.

I applied for this offer just for kicks, and I was approved!

BOTTOM LINE... if you got the TARGETED 150k bonus point offer, you will be approved with **NO** CREDIT INQUIRY
(***may have to have files frozen for this to work)
(I was targeted for this offer by having a consistant $200,000+ balance in a Bank of America Business Checking account.

Not to be a party pooper but here's my 2 cents.

I too was thrilled when I got the card; felt it was the most prestigious card to have in my wallet.

What it has turned out to be is the most useless card in my wallet.

No credit.

No balance transfers.

No reporting to credit bureaus to help me build credit.

Huge $450 per year annual fee.

The prestige is totally meaningless; no one cares which card you use.

The travel perks are useless unless you do a lot of business travel, which I don't.

I would have to say I was a sucker to fall for it.

If you do a lot of business travel, you probably can make use of the various perks.

BTW my FiCO scores were in the 650's, and I keep bupkus in my business checking account, so it's not a hard card to get. They're thrilled to take your $450.

Re: Approved Amex Platinum!!!!!

Anonymous — Sat, 17 Oct 2015 16:23:22 GMT

@SouthJamaica wrote:
@Anonymous wrote:
Let me just share my experience with applying for the AMEX Business Platinum.

My credit score right now is CRAP (600)... unsatisfied auto loan charge-off from 2012, 2 collections totaling $7,000, etc. However, since 2013, things have done a complete 180, and my new business has been doing well. Since my credit is so bad, I froze my reports so no one can look at them.

I applied for this offer just for kicks, and I was approved!

BOTTOM LINE... if you got the TARGETED 150k bonus point offer, you will be approved with **NO** CREDIT INQUIRY
(***may have to have files frozen for this to work)
(I was targeted for this offer by having a consistant $200,000+ balance in a Bank of America Business Checking account.
Not to be a party pooper but here's my 2 cents.

I too was thrilled when I got the card; felt it was the most prestigious card to have in my wallet.

What it has turned out to be is the most useless card in my wallet.

No credit.
No balance transfers.
No reporting to credit bureaus to help me build credit.
Huge $450 per year annual fee.
The prestige is totally meaningless; no one cares which card you use.
The travel perks are useless unless you do a lot of business travel, which I don't.

I would have to say I was a sucker to fall for it.

If you do a lot of business travel, you probably can make use of the various perks.

BTW my FiCO scores were in the 650's, and I keep bupkus in my business checking account, so it's not a hard card to get. They're thrilled to take your $450.

SJ, you're wrong on several points

The travel perks have nothing to do with business travel. You can use those benefits whether you're on business or personal travel. Just because it's a business card doesn't mean that the lounge access and other travel perks disappear if you are on personal travel.

If you travel at all, that $450 AF is automatically reduced to $250 with the yearly $200 Airline credit.

Many people consider the the fact that a business card doesn't report on your credit file a big benefit.

Most importantly, 150K MR points are very valuable. Depending on how you make use of them, they can be worth $7500 or more. I'd say that's a very good reason to be happy about being approved for the card.

Re: Approved Amex Platinum!!!!!

sjt — Sat, 17 Oct 2015 16:36:53 GMT

@Anonymous wrote:
Let me just share my experience with applying for the AMEX Business Platinum.

My credit score right now is CRAP (600)... unsatisfied auto loan charge-off from 2012, 2 collections totaling $7,000, etc. However, since 2013, things have done a complete 180, and my new business has been doing well. Since my credit is so bad, I froze my reports so no one can look at them.

I applied for this offer just for kicks, and I was approved!

BOTTOM LINE... if you got the TARGETED 150k bonus point offer, you will be approved with **NO** CREDIT INQUIRY
(***may have to have files frozen for this to work)
(I was targeted for this offer by having a consistant $200,000+ balance in a Bank of America Business Checking account.

Congrats!

How do they approve without a credit pull.

Re: Approved Amex Platinum!!!!!

NRB525 — Sat, 17 Oct 2015 16:41:33 GMT

@sjt wrote:
@Anonymous wrote:
Let me just share my experience with applying for the AMEX Business Platinum.

My credit score right now is CRAP (600)... unsatisfied auto loan charge-off from 2012, 2 collections totaling $7,000, etc. However, since 2013, things have done a complete 180, and my new business has been doing well. Since my credit is so bad, I froze my reports so no one can look at them.

I applied for this offer just for kicks, and I was approved!

BOTTOM LINE... if you got the TARGETED 150k bonus point offer, you will be approved with **NO** CREDIT INQUIRY
(***may have to have files frozen for this to work)
(I was targeted for this offer by having a consistant $200,000+ balance in a Bank of America Business Checking account.
Congrats!

How do they approve without a credit pull.

I'm interested in this answer also, and to get the rest of the story how Bank of America got involved. The suspense is killing me!

Congrats to the OP nonetheless.

Re: Approved Amex Platinum!!!!!

alextercero — Sat, 17 Oct 2015 17:22:21 GMT

Congrats

Re: Approved Amex Platinum!!!!!

Anonymous — Sat, 17 Oct 2015 19:24:39 GMT

Approved with a 600 credit score and no credit pull. This is rather amazing.

Re: Approved Amex Platinum!!!!!

Lyythine — Mon, 19 Oct 2015 02:31:30 GMT

@NRB525 wrote:
@sjt wrote:
@Anonymous wrote:
Let me just share my experience with applying for the AMEX Business Platinum.

My credit score right now is CRAP (600)... unsatisfied auto loan charge-off from 2012, 2 collections totaling $7,000, etc. However, since 2013, things have done a complete 180, and my new business has been doing well. Since my credit is so bad, I froze my reports so no one can look at them.

I applied for this offer just for kicks, and I was approved!

BOTTOM LINE... if you got the TARGETED 150k bonus point offer, you will be approved with **NO** CREDIT INQUIRY
(***may have to have files frozen for this to work)
(I was targeted for this offer by having a consistant $200,000+ balance in a Bank of America Business Checking account.
Congrats!

How do they approve without a credit pull.
I'm interested in this answer also, and to get the rest of the story how Bank of America got involved. The suspense is killing me!

Congrats to the OP nonetheless.

I very much doubt the OP's BofA account balance had anything to do with the approval... But congrats are in order, none-the-less!

Re: Approved Amex Platinum!!!!!

Anonymous — Mon, 19 Oct 2015 02:59:33 GMT

The reason I know my BoA business checking is involved is that I have 3 corporations started at the same time, same address. The other 2 businesses don't get offers like this (1 got a 100k bonus offer), and the 1 business that always has over $200k in business checking gets the 150k point offer. We don't buy anything with credit, so the business has 0 creidit. They must have targeted me by buying either (a) buying a business list off of BoA, or (2) maybe BoA reports business checking balances to the "business" credit bureaus (I have heard they actually get reporting of deposit account balances from some banks... unlike consumer credit files)

I am convinced that is why I got the 150k offer, somehow they got wind of the deposit account balance... and it seems that if you get that 150k offer, you are always approved.

Someone mentioned no credit on the card. Does that mean they're going to cut me off from using the card without excessive spending, or just that I have to pay the card off every month?

Re: Approved Amex Platinum!!!!!

Anonymous — Mon, 19 Oct 2015 11:13:21 GMT

I also doubt the Bank of America account had anything to do with it. They go off your personal credit. That balance will be helpful in case of an FR. They might ask for bank statements.

Are you sure there was no HP? I got a similar pre-approved offer (but 100k) but once I hit the apply and was approved it was a HP.

In my experience with Business Platinum (go the to Business credit Forum for more info), they do approve rather easily but they watch you like a hawk. Any unusual activity on your credit report and they suspend your spending until you talk to them. They've let me spend up to 37k but some get stuck at 3k (with much more cash in the bank I might add). Others are able to charge over 100k a month. It would be interesting to see what your spending ability is with the card.

@Anonymous wrote:
The reason I know my BoA business checking is involved is that I have 3 corporations started at the same time, same address. The other 2 businesses don't get offers like this (1 got a 100k bonus offer), and the 1 business that always has over $200k in business checking gets the 150k point offer. We don't buy anything with credit, so the business has 0 creidit. They must have targeted me by buying either (a) buying a business list off of BoA, or (2) maybe BoA reports business checking balances to the "business" credit bureaus (I have heard they actually get reporting of deposit account balances from some banks... unlike consumer credit files)

I am convinced that is why I got the 150k offer, somehow they got wind of the deposit account balance... and it seems that if you get that 150k offer, you are always approved.

Someone mentioned no credit on the card. Does that mean they're going to cut me off from using the card without excessive spending, or just that I have to pay the card off every month?

Re: Approved Amex Platinum!!!!!

sjt — Mon, 19 Oct 2015 13:50:02 GMT

@Anonymous wrote:
The reason I know my BoA business checking is involved is that I have 3 corporations started at the same time, same address. The other 2 businesses don't get offers like this (1 got a 100k bonus offer), and the 1 business that always has over $200k in business checking gets the 150k point offer. We don't buy anything with credit, so the business has 0 creidit. They must have targeted me by buying either (a) buying a business list off of BoA, or (2) maybe BoA reports business checking balances to the "business" credit bureaus (I have heard they actually get reporting of deposit account balances from some banks... unlike consumer credit files)

I am convinced that is why I got the 150k offer, somehow they got wind of the deposit account balance... and it seems that if you get that 150k offer, you are always approved.

Someone mentioned no credit on the card. Does that mean they're going to cut me off from using the card without excessive spending, or just that I have to pay the card off every month?

BofA would not sell list to Amex or any other competitor. There must of been another reason why your business got an offer and the others did not. Amex could have contacted BofA to verify the account, as many creditors do that.

Your Amex Platinum is a charge card and the full balance is due in 30 days. Your ability to spend on the card is based on several factors.

Re: Approved Amex Platinum!!!!!

DrZoidberg — Mon, 19 Oct 2015 14:18:48 GMT

As usualy on this site, people start unloading bad information.

Re: Approved Amex Platinum!!!!!

SouthJamaica — Mon, 19 Oct 2015 15:13:38 GMT

@Anonymous wrote:
....

Someone mentioned no credit on the card. Does that mean they're going to cut me off from using the card without excessive spending, or just that I have to pay the card off every month?

You have to pay the card off every month.

Re: Approved Amex Platinum!!!!!

SouthJamaica — Mon, 19 Oct 2015 15:20:24 GMT

@Anonymous wrote:
SJ, you're wrong on several points

The travel perks have nothing to do with business travel. You can use those benefits whether you're on business or personal travel. Just because it's a business card doesn't mean that the lounge access and other travel perks disappear if you are on personal travel.

If you travel at all, that $450 AF is automatically reduced to $250 with the yearly $200 Airline credit.

Many people consider the the fact that a business card doesn't report on your credit file a big benefit.

Most importantly, 150K MR points are very valuable. Depending on how you make use of them, they can be worth $7500 or more. I'd say that's a very good reason to be happy about being approved for the card.

1. I understand that the travel perks which don't cost money can be used for personal travel. But I can't use the card for personal travel.

2. The airline credit is only useful if the ticket was for business travel.

3. Yes it's true that some people are glad it doesn't report on their credit file; but this OP indicated he has a low credit score, so rebuilding is important.

4. I don't get your arithmetic on the valuation of the mileage points.

Re: Approved Amex Platinum!!!!!

Anonymous — Mon, 19 Oct 2015 15:37:42 GMT

@SouthJamaica wrote:
@Anonymous wrote:
SJ, you're wrong on several points

The travel perks have nothing to do with business travel. You can use those benefits whether you're on business or personal travel. Just because it's a business card doesn't mean that the lounge access and other travel perks disappear if you are on personal travel.

If you travel at all, that $450 AF is automatically reduced to $250 with the yearly $200 Airline credit.

Many people consider the the fact that a business card doesn't report on your credit file a big benefit.

Most importantly, 150K MR points are very valuable. Depending on how you make use of them, they can be worth $7500 or more. I'd say that's a very good reason to be happy about being approved for the card.
1. I understand that the travel perks which don't cost money can be used for personal travel. But I can't use the card for personal travel. - it has nothing to do with whether you use the card for personal travel. The benefits are still available. For example, lounge entry requires that you show the card. Doesn't matter whether you paid for your ticket with the card or not. Once you have the card, Amex doesn't care whether you're on business or personal travel. Don't get locked up on the 'business' aspect of the card. The card for all practical purposes is no different than the personal one. The fact that you can get the bonuses from both types is fantastic.

2. The airline credit is only useful if the ticket was for business travel. - How so? You can get reimbursed for the airline credit no matter what the purpose of the trip. Amex has no way of knowing whether you're on business or personal travel. You make a charge, you'll get reimbursed

3. Yes it's true that some people are glad it doesn't report on their credit file; but this OP indicated he has a low credit score, so rebuilding is important. - Even if you're rebuilding, the other benefits far outweigh that the card doesn't report

4. I don't get your arithmetic on the valuation of the mileage points. - If you transfer your points to the right airline partner and use the points for an international travel it's not difficult to get 5 cents or more per point. For example, I just transferred quite a few MR points to Virgin America. 160K MR points gets you 80K VA points (if you wait until they have promotions such as an 25% you get even more which is what I did). For 8oK VA points to can fly round trip on business class (which is VA's highest class) from LA to Sydney, Australia. This ticket if you pay cash costs $7500-$8500 dollars.

150K MR points is very valuable. If the spend required is doable then to me is a no brainier to get the card. You can always cancel before your second AF is due. Unlike their personal cards, Amex lets you reapply and receive a card's bonus every 24 months,

Re: Approved Amex Platinum!!!!!

heychrisbaker — Mon, 19 Oct 2015 15:45:11 GMT

@sjt wrote:
@Anonymous wrote:
The reason I know my BoA business checking is involved is that I have 3 corporations started at the same time, same address. The other 2 businesses don't get offers like this (1 got a 100k bonus offer), and the 1 business that always has over $200k in business checking gets the 150k point offer. We don't buy anything with credit, so the business has 0 creidit. They must have targeted me by buying either (a) buying a business list off of BoA, or (2) maybe BoA reports business checking balances to the "business" credit bureaus (I have heard they actually get reporting of deposit account balances from some banks... unlike consumer credit files)

I am convinced that is why I got the 150k offer, somehow they got wind of the deposit account balance... and it seems that if you get that 150k offer, you are always approved.

Someone mentioned no credit on the card. Does that mean they're going to cut me off from using the card without excessive spending, or just that I have to pay the card off every month?
BofA would not sell list to Amex or any other competitor. There must of been another reason why your business got an offer and the others did not. Amex could have contacted BofA to verify the account, as many creditors do that.

Your Amex Platinum is a charge card and the full balance is due in 30 days. Your ability to spend on the card is based on several factors.

I never knew that Business Credit Cards do not report to personal credit line reports. who knew?