topic Re: Update Approved!!! - Do I Qualify for a Business CC (AMEX) in Business Credit

Update Approved!!! - Do I Qualify for a Business CC (AMEX)

Anonymous — Sun, 06 Oct 2019 17:23:54 GMT

Hey All,

I am considering opening a business credit card with AMEX and hoping to get a SP since I am an existing personal cardholder (albeit a new one - 8/2019).

Recently hit the SUB for my new HHonors surpass and I thought having another SUB with the business HHonors would be beneficial.

I have been an Uber driver for years and consistently sell on ebay as two of my side gigs. Does this qualify me for an Amex business card as a sole proprietor? And if so is this a good idea to pursue?

I would be very interested in any advice the community can provide, thank you in advance for your help.

UPDATE:

*** Against some pretty sound advice, I apped and was shocked with the result. Approved for $12k! and SUB 125k Hhonors points after 3k spend in 3 months. This is my first Business card and I am stoked! No HP (atleast not yet), and doubled my highest limit on personal. Only thing I noticed, which is interesting, is all my previously available pre-approvals for the personal cards reverted back to "extending your membership..." which is totally fine by me as I am not apping again for at least a year I would have to imagine.

Re: Do I Qualify for a Business Credit Card (AMEX)

jaxstraw — Sat, 05 Oct 2019 17:17:54 GMT

Do you have an EIN for your business ?

Re: Do I Qualify for a Business Credit Card (AMEX)

Anonymous — Sat, 05 Oct 2019 17:26:49 GMT

No I do not, my understanding is that an EIN is not necessary for sole proprietorships and I would use my SSN on the application as well as my legal name as the business name.

@jaxstraw

Re: Do I Qualify for a Business Credit Card (AMEX)

jaxstraw — Sat, 05 Oct 2019 18:53:31 GMT

@Anonymous wrote:
No I do not, my understanding is that an EIN is not necessary for sole proprietorships and I would use my SSN on the application as well as my legal name as the business name.
@jaxstraw

Well the first thing you should do is see if you are pre-qualified.

https://www.americanexpress.com/us/credit-cards/business/prequalify-for-business-credit-card

Re: Do I Qualify for a Business Credit Card (AMEX)

Anonymous — Sat, 05 Oct 2019 20:18:30 GMT

@jaxstraw

I actually did that after recieving prequals on all the cobranded personal cards and got only Gold and Platinum business which I have no interest in.

I would think platinum is more selective than the HHonors revolver? But I may be wrong.

Re: Do I Qualify for a Business Credit Card (AMEX)

Anonymous — Sat, 05 Oct 2019 22:45:36 GMT

@Anonymous wrote:
Hey All,

I am considering opening a business credit card with AMEX and hoping to get a SP since I am an existing personal cardholder (albeit a new one - 8/2019).

Recently hit the SUB for my new HHonors surpass and I thought having another SUB with the business HHonors would be beneficial.

I have been an Uber driver for years and consistently sell on ebay as two of my side gigs. Does this qualify me for an Amex business card as a sole proprietor? And if so is this a good idea to pursue?

I would be very interested in any advice the community can provide, thank you in advance for your help.

You absolutely could apply for a business card as a sole proprietor with your social security number, but your $1,000 limit on your Amex suggests that you should wait.

Also, August is too recent to assume app will be a soft pull.

Re: Do I Qualify for a Business Credit Card (AMEX)

jaxstraw — Sat, 05 Oct 2019 22:45:49 GMT

@Anonymous wrote:
@jaxstraw
I actually did that after recieving prequals on all the cobranded personal cards and got only Gold and Platinum business which I have no interest in.

I would think platinum is more selective than the HHonors revolver? But I may be wrong.

Just a guess but if you were pre-qualified for any biz card your chances for cold app approval on a different card are probably pretty good .YMMV.

Re: Update Approved!!! - Do I Qualify for a Business CC (AMEX)

jaxstraw — Sun, 06 Oct 2019 17:59:53 GMT

UPDATE:
*** Against some pretty sound advice, I apped and was shocked with the result. Approved for $12k! and SUB 125k Hhonors points after 3k spend in 3 months. This is my first Business card and I am stoked! No HP (atleast not yet), and doubled my highest limit on personal. Only thing I noticed, which is interesting, is all my previously available pre-approvals for the personal cards reverted back to "extending your membership..." which is totally fine by me as I am not apping again for at least a year I would have to imagine.

Way to go !!!

Re: Update Approved!!! - Do I Qualify for a Business CC (AMEX)

Anonymous — Sun, 06 Oct 2019 18:04:18 GMT

Thank you!!!

Re: Update Approved!!! - Do I Qualify for a Business CC (AMEX)

mikesonthemend — Sat, 12 Oct 2019 06:04:41 GMT

@Anonymous wrote:
Hey All,

I am considering opening a business credit card with AMEX and hoping to get a SP since I am an existing personal cardholder (albeit a new one - 8/2019).

Recently hit the SUB for my new HHonors surpass and I thought having another SUB with the business HHonors would be beneficial.

I have been an Uber driver for years and consistently sell on ebay as two of my side gigs. Does this qualify me for an Amex business card as a sole proprietor? And if so is this a good idea to pursue?

I would be very interested in any advice the community can provide, thank you in advance for your help.

UPDATE:
*** Against some pretty sound advice, I apped and was shocked with the result. Approved for $12k! and SUB 125k Hhonors points after 3k spend in 3 months. This is my first Business card and I am stoked! No HP (atleast not yet), and doubled my highest limit on personal. Only thing I noticed, which is interesting, is all my previously available pre-approvals for the personal cards reverted back to "extending your membership..." which is totally fine by me as I am not apping again for at least a year I would have to imagine.

I didn't do as well as you. But I did do it! Thanks for the inspiration! https://ficoforums.myfico.com/t5/Business-Credit/First-Business-Amex/td-p/5772776

Re: Update Approved!!! - Do I Qualify for a Business CC (AMEX)

Anonymous — Sat, 12 Oct 2019 06:10:45 GMT

No way!!!! Congratulations 🎊🎈🍾🎉 that is awesome!!!