topic Re: What is AMEX SimplyCash Business? in Business Credit

What is AMEX SimplyCash Business?

Anonymous — Sat, 17 Mar 2018 06:41:55 GMT

I know I cannot apply for any credit card right now except CLI SP but I would like to apply for various credit cards in the future (3 or 4 months from now). I learned from good people over this forum through their advices not to apply for any card because I am trying to get a mortgage loan. Anyway, Amex pulled off offers of Gold and Platinum charged off cards from my "Amex Offers & Benefits" at my Home tab page. Instead they list this new SimplyCash Plus Business card on my page.

Questions:

1. How does this card compare to the others?

~~2. Is there any annual fee? I am not seeing it.~~ I saw a big FONT on the top, no AF.

3. Will they offer me again in the future if I don't apply it now?

4. I don't even own a business (unless if I counting doing some online computer freelance projects as my side jobs in next 2 months), am I even eligible? What kind of questions would they ask?

5. Do I love Amex? Yes I do! Thanks in advance for any tip.

You're invited to apply for the SimplyCash® Plus Business Card! Earn a $200 Statement Credit after spending $3,000 on eligible purchases on the Card within the first 3 months of Card Membership.

Plus get an introductory APR of 0% on purchases for the first 15 months of Card Membership. After that, your APR will be a variable rate of 13.49%.

Re: What is AMEX SimplyCash Business?

nrm — Sat, 17 Mar 2018 07:54:26 GMT

@Anonymouswrote:
I know I cannot apply for any credit card right now except CLI SP but I would like to apply for various credit cards in the future (3 or 4 months from now). I learned from good people over this forum through their advices not to apply for any card because I am trying to get a mortgage loan. Anyway, Amex pulled off offers of Gold and Platinum charged off cards from my "Amex Offers & Benefits" at my Home tab page. Instead they list this new SimplyCash Plus Business card on my page.
Questions:
1. How does this card compare to the others? 5% on wireless service is hard to beat, unless you have US Bank Cash+.
~~2. Is there any annual fee? I am not seeing it.~~ I saw a big FONT on the top, no AF.
3. Will they offer me again in the future if I don't apply it now? It depends. They are ddoing something with the card. My wife profile is only less than 3 years and she was offered and appoved.
4. I don't even own a business (unless if I counting doing some online computer freelance projects as my side jobs in next 2 months), am I even eligible? Why not? They offer you the card. What kind of questions would they ask? What is your income?
5. Do I love Amex? Yes I do! Thanks in advance for any tip.

You're invited to apply for the SimplyCash® Plus Business Card! Earn a $200 Statement Credit after spending $3,000 on eligible purchases on the Card within the first 3 months of Card Membership.
Plus get an introductory APR of 0% on purchases for the first 15 months of Card Membership. After that, your APR will be a variable rate of 13.49%.

Re: What is AMEX SimplyCash Business?

Anonymous — Sat, 17 Mar 2018 10:00:31 GMT

@nrmwrote:
@Anonymouswrote:
I know I cannot apply for any credit card right now except CLI SP but I would like to apply for various credit cards in the future (3 or 4 months from now). I learned from good people over this forum through their advices not to apply for any card because I am trying to get a mortgage loan. Anyway, Amex pulled off offers of Gold and Platinum charged off cards from my "Amex Offers & Benefits" at my Home tab page. Instead they list this new SimplyCash Plus Business card on my page.
Questions:
1. How does this card compare to the others? 5% on wireless service is hard to beat, unless you have US Bank Cash+.
~~2. Is there any annual fee? I am not seeing it.~~ I saw a big FONT on the top, no AF.
3. Will they offer me again in the future if I don't apply it now? It depends. They are ddoing something with the card. My wife profile is only less than 3 years and she was offered and appoved.
4. I don't even own a business (unless if I counting doing some online computer freelance projects as my side jobs in next 2 months), am I even eligible? Why not? They offer you the card. What kind of questions would they ask? What is your income?
5. Do I love Amex? Yes I do! Thanks in advance for any tip.

You're invited to apply for the SimplyCash® Plus Business Card! Earn a $200 Statement Credit after spending $3,000 on eligible purchases on the Card within the first 3 months of Card Membership.
Plus get an introductory APR of 0% on purchases for the first 15 months of Card Membership. After that, your APR will be a variable rate of 13.49%.

Regarding #4. While doing freelance work might constitute a ‘business’, just because a card is listed under your offer page doesn’t mean that you just apply apply for it. If you don’t legitimately have a business then applying for an Amex or any other creditor’s business card would be unethical and fraudulent.

Re: What is AMEX SimplyCash Business?

Anonymous — Sat, 17 Mar 2018 10:55:00 GMT

Hi, thank you for replying. That is what I am thinking. I don't think I am eligible for the card. I am making over 80k right now not counting freelance projects yet. Unless I incorporate LLC yes, it would be a legitimate business but I don't think I am going to do that. Anyway, I will just ignore it then. Maybe down the road I will form a LLC with a buddy of mine but definitely not now.

Re: What is AMEX SimplyCash Business?

Anonymous — Sat, 17 Mar 2018 14:11:00 GMT

@Anonymouswrote:
Hi, thank you for replying. That is what I am thinking. I don't think I am eligible for the card. I am making over 80k right now not counting freelance projects yet. Unless I incorporate LLC yes, it would be a legitimate business but I don't think I am going to do that. Anyway, I will just ignore it then. Maybe down the road I will form a LLC with a buddy of mine but definitely not now.

Well please don’t take my post in the wrong way and steer you away from applying. My comment was more of a general statement and not directed at you per se. I just don’t like seeing posts where people are encouraged to apply for a business card when they don’t even remotely have a business just because they are fairly easy to get.

You definitely don’t need to form a LLC to apply for a business card. I have 7 business credit cards all as a Sole Proprietor using my SSN instead of an EIN and using my name as the business name. If you do any outside work then you more than likely qualify as a business in Amex’s eyes. You don’t necessarily even have to generate much of an income to qualify and be approved as Amex like almost all creditors that offer small business cards will base their decision on your personal credit. If you have questions you can either PM me or post them here.

Re: What is AMEX SimplyCash Business?

Anonymous — Sat, 17 Mar 2018 11:32:06 GMT

Thanks Irish80. It is a good advice though. I mean, the cashback rewards are nice but I think I still can get another Amex cards especially the travel cards or Citibank AA cards since I do travel moderately around the end/beginning of the year. I have the BCP of 6% which I think should be good enough to get the cashback. Maybe sometime later I will try to get it. Beside at the moment I am focusing on getting a mortage loan so I cannot apply any card yet. I will pm you next time when I have a question regarding business cards. Thanks again for the message.

Re: What is AMEX SimplyCash Business?

Anonymous — Sat, 17 Mar 2018 13:42:40 GMT

Just to add....

Even if your are currently an Amex cardholder and a new app would be a sp,

mortgage loan lenders and underwriters may still question a new account/credit line.

If the app for the mortgage is coming soon, dont do it. It can wait

Re: What is AMEX SimplyCash Business?

SouthJamaica — Sat, 17 Mar 2018 13:44:08 GMT

@Anonymouswrote:
I know I cannot apply for any credit card right now except CLI SP but I would like to apply for various credit cards in the future (3 or 4 months from now). I learned from good people over this forum through their advices not to apply for any card because I am trying to get a mortgage loan. Anyway, Amex pulled off offers of Gold and Platinum charged off cards from my "Amex Offers & Benefits" at my Home tab page. Instead they list this new SimplyCash Plus Business card on my page.
Questions:
1. How does this card compare to the others?
~~2. Is there any annual fee? I am not seeing it.~~ I saw a big FONT on the top, no AF.
3. Will they offer me again in the future if I don't apply it now?
4. I don't even own a business (unless if I counting doing some online computer freelance projects as my side jobs in next 2 months), am I even eligible? What kind of questions would they ask?
5. Do I love Amex? Yes I do! Thanks in advance for any tip.

You're invited to apply for the SimplyCash® Plus Business Card! Earn a $200 Statement Credit after spending $3,000 on eligible purchases on the Card within the first 3 months of Card Membership.
Plus get an introductory APR of 0% on purchases for the first 15 months of Card Membership. After that, your APR will be a variable rate of 13.49%.

1. It's a credit card, not a charge card.

2. It gives you cash back.

3. You can selectd a 3% category.

4. It's a business card, not a personal card.

5. If you don't own a business I don't think you should apply for it.

6. If you want a cash back card from Amex, look into the Blue Cash Everyday.

Re: What is AMEX SimplyCash Business?

UpperNwGuy — Sat, 17 Mar 2018 13:51:31 GMT

I obtained a business license from my city during 2014 and 2015. However, I subsequently had second thoughts about the whole concept and never actually earned any business income. To my surprise, I now seem to preapproved for every single business credit card on the US market, and the preapproval letters just keep on coming. I don't apply for any of the cards because, like those who posted above, I consider it fraudulent to tell a bank that I have a business when in fact I do not.

Re: What is AMEX SimplyCash Business?

Anonymous — Sat, 17 Mar 2018 17:33:18 GMT

Thanks! It is true. I was told the same thing somewhere here. For example, anything I do even a soft pull my regards as potential risk since I am applying for credits in the eyes of loan officer.

Re: What is AMEX SimplyCash Business?

Anonymous — Sat, 17 Mar 2018 17:35:48 GMT

Thanks for replying. Unless I decided to form a LLC with a buddy on mine and own an actual business it would be an opportunity just in case. Eitherwise, I don't really need it. That's why I love this forum. I can get a lot of info from you all.

Re: What is AMEX SimplyCash Business?

Anonymous — Sat, 17 Mar 2018 17:43:00 GMT

I guess technically on the paper you owned a business but you never run it but your information was sold out to 3rd party and so on to the data collection firm for example Acxiom. I almost worked for them long time ago. I always thought when you applying with a government your party should be kept confidential ( Unless it was stolen.. long story here). It has to be somewhere your information got leaked out by 3rd none-government party. However, thank you for letting me know. I appreciate that.