topic Re: Too Early for AMEX Business Card? (UPDATE) in Business Credit

Too Early for AMEX Business Card?

kah-pas — Sun, 10 Feb 2019 00:20:33 GMT

My scores are around 745 +/- several points. No negatives. With them I already have:
-- AMEX Platinum 1 year 1 month old ($30K pay-over-time enabled, not used)
-- $18K personal loan from November, so only 3 payments have been made thus far.

Next week I'll open an LLC and would need / like to have a business credit card. What are my chances? And which card you'd recommend to target?

Re: Too Early for AMEX Business Card?

Anonymous — Sun, 10 Feb 2019 01:24:22 GMT

I’d say go for it. You seem to be in AMEX’s good graces.

As for a specific card, it really depends on your business’ needs and spend. That said, I’m currently putting the majority of my spend through the Simply Cash card. The BBP should also be looked at as well and could be, arguably, the most versitile card for non-category spend.

Re: Too Early for AMEX Business Card?

CH2022 — Sun, 10 Feb 2019 03:18:52 GMT

Agree with the above response and good point on BB vs Simply Cash .

Some data points if it helps -

BB is also our first business card , which approved last week for 2K SL since we dont have any prior relation with amex.Pulled Ex-750

I am seeing posts, where usual SL at 9K and no HP for most. If it is HP, probably good to add Business charge card on the same day (unless chase ink in ur plan.Not sure whether chase considers business accounts in 5/24).

Re: Too Early for AMEX Business Card?

kah-pas — Mon, 11 Feb 2019 21:40:01 GMT

Re: being in AMEX's "good graces" I just took a look at my 2018 summary - $41,285.75 spent and paid? Does the amount of the monies spent play an important role for them when they are making a decision or is it irrelevant?

Re: Too Early for AMEX Business Card?

Anonymous — Tue, 12 Feb 2019 14:18:43 GMT

I don’t think spend matters too much, I put 75k spend between September 2018 and December 2018 on my Amex Gold Business card and applied for the BBP in January 19 and only got a 2k limit

Re: Too Early for AMEX Business Card? (UPDATE)

kah-pas — Tue, 05 Mar 2019 18:03:36 GMT

So, I just now applied and was approved for the Blue BusinessSM Plus Credit Card. But the credit line was funny -- $2K -- "funny" if you think that my personal Platinum has that $30K pay-over-time (untapped) credit line option. There's nothing, business wise, I can do with $2K.

Does it make any sense to call them and ask for CLI once the card arrives?

Re: Too Early for AMEX Business Card? (UPDATE)

CH2022 — Tue, 05 Mar 2019 18:16:20 GMT

2k SL Doesnt make any sense I got no luck, when i tried to increase my 2k. Keep us posted if it works.

Now i am close to second statement cut , planning on CLI.

Re: Too Early for AMEX Business Card? (UPDATE)

SouthJamaica — Tue, 05 Mar 2019 18:22:29 GMT

@kah-pas wrote:
So, I just now applied and was approved for the Blue BusinessSM Plus Credit Card. But the credit line was funny -- $2K -- "funny" if you think that my personal Platinum has that $30K pay-over-time (untapped) credit line option. There's nothing, business wise, I can do with $2K.

Does it make any sense to call them and ask for CLI once the card arrives?

I think you'll be spinning your wheels, but I guess it can't hurt.

I would wait 61 days then apply for 4k CLI to 6k.

Of course you can do stuff with a 2k limit.

Re: Too Early for AMEX Business Card? (UPDATE)

kah-pas — Tue, 05 Mar 2019 18:30:41 GMT

I will call them, just in case and will post an update here.

Re: Too Early for AMEX Business Card? (UPDATE)

Anonymous — Tue, 05 Mar 2019 19:41:25 GMT

Hey, at least there's not a $5K spend required to qualify for the SUB.

Re: Too Early for AMEX Business Card? (UPDATE)

Anonymous — Wed, 06 Mar 2019 04:32:41 GMT

A few thoughts:

First, I wouldn’t put a lot of weight in your POT limit. The POT limits don’t really translate to SLs. Just because AMEX hands out a $30k POT limit doesn’t mean they’d issue the same person a credit card with a $30k limit.

Secondly, depending on your income, you already have decent exposure to AMEX with the Platinum and the personal loan. Especially so if you don’t have a long history with AMEX.

Lastly, you said your business was new so I can’t imagine you could have listed a huge yearly revenue.

Use your $2k limit responsibly and it will grow. Also, don’t forget that you can often spend over your SL (would have the PIF any amount over your established SL on your statement due date, however). There is a “check your spending power” tool for the BBP just as there is for your Platinum card.

Congrats on the approval! It’s a great card.