topic Re: Amex biz card app - other owners with >= 25% ownership in Business Credit

Amex biz card app - other owners with >= 25% ownership

Anonymous — Mon, 13 Aug 2018 19:55:55 GMT

I was applying for the Amex Blue for Business when this new checkbox was presented to me:

_ the business has individuals who have direct or indirect ownership of at least 25%

I do have a partner the application states that I'll need to provide the name, address, and SSN of any owners with at least 25% ownership. My concerns are that this will prevent me from getting an instant approval without a hard pull. I'm also worried about the co-owner getting a credit pull. Has anyone had exprience with this?

Thanks in advance

Re: Amex biz card app - other owners with >= 25% ownership

redpat — Tue, 14 Aug 2018 14:12:20 GMT

I didn't have that box when I applied for Ink+ (Chase) Biz Plat and BRG. I guess they changed that because Citi and Barclays does the same thing. They will not HP the partners and more than likely you won't get a HP if you are an existing Amex cardholder.

We had a policy of not giving out personal information on each other when getting credit cards. I guess that all changes now and we will have to tell each other that we are applying for a CC. Each of my partner's applied for SPG biz and Marriott biz w/o info also.

Re: Amex biz card app - other owners with >= 25% ownership

Anonymous — Tue, 14 Aug 2018 19:27:28 GMT

Thanks for the reply. So I went ahead and applied and here's my experinece in case somone stumbles on this thread:

I applied and checked the "25% other ownership" option. The app pended and I was then required to complete the name, SSN and address of the other owner. After that I was immediatly approved with no pull on my credit report since I'm an Amex cardholder. So these extra required questions on business apps are pretty hassle free with Amex.

My only issue now is that I got an unexpecitdily low starting limit of $13,500. Most of my personal credit lines are $25K+ and the Chase card that I'm hoping to replace the businesses non bonus category spend with has a $38K limit. Hopefully Amex will boost the CL with time and usage.

Re: Amex biz card app - other owners with >= 25% ownership

redpat — Fri, 31 Aug 2018 12:03:48 GMT

New law went into effect 5/11/18 requiring > than 25% info to be added to the business credit card application.