topic Re: Amex amazon business approval odds and questions in Business Credit

Amex amazon business approval odds and questions

Anonymous — Mon, 14 Sep 2020 12:17:20 GMT

Questions I have:

1) Does amex care about velocity for their approvals? I applied for the amex BCE on July 21 and then just got approved for the CFU on Sept. 6. However, neither have reported, but the HP's are obviously on my report.

2) I know amex does a softball, but since my account is a little under 2 months, will this apply to me still?

3) If denied, how long should I wait before applying again?

4) How does amex recon work, is it similar to chase?

I'm making a big purchase on amazon and used the CFU to grab it's sub, and the 5% cash back and $120 gift card for the amex business card is enticing for me, along with the no HP

Does amex verify the estimated business revenue?

Current cards: (list cards, limits, opening date)
- Discover it Student | Aug, 2019 | CL: $1,600
- Amex BCE | July 21, 2020 | CL: $2,000 | Hasn't reported yet
- Chase FU | Sept. 6, 2020 | CL: $3,200 | Hasn't reported yet
FICO Score:
- Experian: 743
- Equifax: 770
- TransUnion: 771
Oldest account age: 1 year 1 mo
Chase 5/24 status: 3/24
Income: $25,000
Average monthly spend and categories:
- dining $200
- groceries: $200
- gas: $40
- travel: $0
- other: $150
Open to Business Cards: Yes
What's the purpose of your next card? Cash back
Do you have any cards you've been looking at?
- Amazon Business Prime

Re: Amex amazon business approval odds and questions

K-in-Boston — Mon, 14 Sep 2020 14:21:19 GMT

@Anonymous wrote:
Questions I have:

1) Does amex care about velocity for their approvals? I applied for the amex BCE on July 21 and then just got approved for the CFU on Sept. 6. However, neither have reported, but the HP's are obviously on my report.

2) I know amex does a softball, but since my account is a little under 2 months, will this apply to me still?

3) If denied, how long should I wait before applying again?

4) How does amex recon work, is it similar to chase?

I'm making a big purchase on amazon and used the CFU to grab it's sub, and the 5% cash back and $120 gift card for the amex business card is enticing for me, along with the no HP

Does amex verify the estimated business revenue?
Current cards: (list cards, limits, opening date)
Discover it Student | Aug, 2019 | CL: $1,600
Amex BCE | July 21, 2020 | CL: $2,000 | Hasn't reported yet
Chase FU | Sept. 6, 2020 | CL: $3,200 | Hasn't reported yet
FICO Score:
Experian: 743
Equifax: 770
TransUnion: 771
Oldest account age: 1 year 1 mo
Chase 5/24 status: 3/24
Income: $25,000
Average monthly spend and categories:
dining $200
groceries: $200
gas: $40
travel: $0
other: $150
Open to Business Cards: Yes
What's the purpose of your next card? Cash back
Do you have any cards you've been looking at?
Amazon Business Prime

1. Really only for their own cards, but being the impact on your credit report and score of opening many other cards can affect your approval chances.

2. YMMV. Most existing cardholders report no additional HP for new Amex cards, some even longtime cardholders have reported them.

3. Until the reasons for denial have been rectified.

4. No experience with this. Successful Amex recon isn't very common from data points here.

Unnumbered 5. Amex can always request documentation. Be truthful in your reporting, and use your best honest guess for revenues. Approval is based more on your personal reports than business stats for small business cards.

Woth your income, extremely limited credit history, and recent Amex approval, I would probably advise waiting. But the worst outcome would be a HP and a denial, so the potential benefit of a Welcome Offer and an approval may outweigh that for you.

Re: Amex amazon business approval odds and questions

Drwaz99 — Mon, 14 Sep 2020 14:24:26 GMT

Going to jump in here and say: Congrats on your approval!

Re: Amex amazon business approval odds and questions

Anonymous — Mon, 14 Sep 2020 14:29:48 GMT

@Drwaz99 wrote:
Going to jump in here and say: Congrats on your approval!

I was very creeped out for a second, I was like **bleep** how did you know I got approved...does it tell you guys...then I realized, haha. Stuff like this shows me how little I pay attention to usernames, haha!

Re: Amex amazon business approval odds and questions

MudkipsRKooL — Sun, 20 Sep 2020 13:02:40 GMT

Yea congrats on your approval lol.

Anyways I was very worried myself, cuz of the current covid crisis. I wanna take a break from personal credit cards as well. Anyway here's my lineup. Was hoping for $3,000 to $5000 and I got a little more thanks to my relationship with my Amex BCE. In all honestly you should wait for the 3X CLI (61 day) for Amex to kick in, maybe they will match your BCE's new limit.

Current cards: (list cards, limits, opening date)
- CreditOneBank Platinum | Nov, 2016 | CL: $1,050
- Chase FU | March, 2019 | CL: $2,400 |
- Discover It | September, 2019 | CL: $4,500
- Amazon Prime | March, 2020 | CL: $6,500
- Amex BCE | April, 2020 | $10,000
FICO Score:
- Experian: 747
- Equifax: 758
- TransUnion: 756

What I put on my Amex Amazon Prime app:
- EIN or SSN: SSN
- SP or Partnership: Sole Proprietorship
- Age of Business: 3 years
- Revenue: $3500

Got instantly matched $2500 intial and $10,000 when confirmed.