topic Amex business gold and platinum approval in Business Credit

Amex business gold and platinum approval

micvite — Wed, 20 Apr 2022 03:23:17 GMT

Not sure if business approvals go here or the business section, so mods, sorry if you have to move this.

Applied for business gold on april 11th, it asked me if i wanted to add aditional cards so I figured I was approved, sadly not. They needed to verify my company name and address (new business just started like april 1st, bank account april 6th). Got a letter from my bank saying business name and address sent it in and called to see if we could expidite the screening, was told no, HUCA, next agent said since I'm an amex card holder they can do some sort of verification and he was able to get my app pushed through, after confirming what state my business was registered in. (put my personal income as 320k and business I used projected income of 100k on app). He expidited my card and I was happy to see a POT limit of 15k on the card (since I had to make significantly more than 15k in purchases so that meant I could definitely do that). Charged 14k right off the bat and today I figure, why not apply for the platinum too? I easily have another 30k to spend, might as well get SUB. Same thing, needs to verify company info, call and wait 2 whole hours on hold due to a system outage but finally get through, explain the situation and after not being able to use my gold card to verify info since it hadn't been open for a month, she offered to call my bank, verify that way and get me squared off. Of course I agreed and 5 minutes later got the approval with a 30k POT limite and 0% apr for 12 mo which is certainly helpful to have if I need it. Now wondering if I can apply for more since I already have 5 total amex cards or if business cards don't count towards that 5 amex limit.

Edit: both were soft pulls

Re: Amex business gold and platinum approval

babygirl1256 — Wed, 20 Apr 2022 03:31:42 GMT

Congrats on your Amex Business Gold and Platinum approvals . . . I have the Platinum card that I was approved for in March 2022 and will purchase some equipment soon. I guess the no preset limit concerns me because I was told that they could also decline a purchase. Best wishes with your business venture!!!

Re: Amex business gold and platinum approval

CreditMagic7 — Wed, 20 Apr 2022 03:32:21 GMT

Congratulations on your Amex Business cards approvals!

https://ficoforums.myfico.com/t5/Business-Credit/bd-p/businesscredit

Re: Amex business gold and platinum approval

micvite — Wed, 20 Apr 2022 03:46:37 GMT

@babygirl1256 wrote:
Congrats on your Amex Business Gold and Platinum approvals . . . I have the Platinum card that I was approved for in March 2022 and will purchase some equipment soon. I guess the no preset limit concerns me because I was told that they could also decline a purchase. Best wishes with your business venture!!!

typically anything under your POT limit is a guaranteed approval, anything over you can check with the "spending power" button

Re: Amex business gold and platinum approval

cashorcharge — Wed, 20 Apr 2022 18:00:40 GMT

That's terrific!! Congratulations on your AMEX Approvals!! 🎉🥂👏

Re: Amex business gold and platinum approval

TC1212 — Fri, 22 Apr 2022 00:57:57 GMT

@micvite Congrats. I got approved for both of them also in February. Just met the spend on my Platinum and about 1k away from meeting the spend on the Gold. My POT was also 15k for both. I had a Delta Amex card for about 18 months so they were soft pulls. I just opened a new LLC when I moved out of state, so I will be applying for 2 new cards - one chage and one credit within the next 30 days.

Re: Amex business gold and platinum approval

micvite — Fri, 22 Apr 2022 01:00:05 GMT

@TC1212 wrote:
@micvite Congrats. I got approved for both of them also in February. Just met the spend on my Platinum and about 1k away from meeting the spend on the Gold. My POT was also 15k for both. I had a Delta Amex card for about 18 months so they were soft pulls. I just opened a new LLC when I moved out of state, so I will be applying for 2 new cards - one chage and one credit within the next 30 days.

I met the spend on the gold with my first purchase haha, platinum will follow shortly and the 30k POT is nice at 0%

Re: Amex business gold and platinum approval

wasCB14 — Fri, 22 Apr 2022 22:40:22 GMT

Congrats...and good to hear you have the spend!

Re: Amex business gold and platinum approval

GApeachy — Sat, 23 Apr 2022 17:56:09 GMT

@micvite wrote:
call and wait 2 whole hours on hold

Goodness! ....but well worth the wait, congrats on both approvals. So have you decided to pull the trigger again being you mentioned it?

Re: Amex business gold and platinum approval

micvite — Fri, 29 Apr 2022 03:55:51 GMT

@GApeachy wrote:
@micvite wrote:
call and wait 2 whole hours on hold
Goodness! ....but well worth the wait, congrats on both approvals. So have you decided to pull the trigger again being you mentioned it?

Nope, don't want to push it too hard lol, especially since I'll be carrying a balance for a while.

Re: Amex business gold and platinum approval

SouthJamaica — Sat, 30 Apr 2022 14:59:08 GMT

@micvite wrote:
Not sure if business approvals go here or the business section, so mods, sorry if you have to move this.
Applied for business gold on april 11th, it asked me if i wanted to add aditional cards so I figured I was approved, sadly not. They needed to verify my company name and address (new business just started like april 1st, bank account april 6th). Got a letter from my bank saying business name and address sent it in and called to see if we could expidite the screening, was told no, HUCA, next agent said since I'm an amex card holder they can do some sort of verification and he was able to get my app pushed through, after confirming what state my business was registered in. (put my personal income as 320k and business I used projected income of 100k on app). He expidited my card and I was happy to see a POT limit of 15k on the card (since I had to make significantly more than 15k in purchases so that meant I could definitely do that). Charged 14k right off the bat and today I figure, why not apply for the platinum too? I easily have another 30k to spend, might as well get SUB. Same thing, needs to verify company info, call and wait 2 whole hours on hold due to a system outage but finally get through, explain the situation and after not being able to use my gold card to verify info since it hadn't been open for a month, she offered to call my bank, verify that way and get me squared off. Of course I agreed and 5 minutes later got the approval with a 30k POT limite and 0% apr for 12 mo which is certainly helpful to have if I need it. Now wondering if I can apply for more since I already have 5 total amex cards or if business cards don't count towards that 5 amex limit.

Edit: both were soft pulls

Congratulations on your approvals.

None of the charge cards -- business or personal -- count towards the 5-card limit; that applies only to revolvers.

But if I were you I would let things rest for awhile.

Re: Amex business gold and platinum approval

SouthJamaica — Sat, 30 Apr 2022 15:01:25 GMT

@babygirl1256 wrote:
Congrats on your Amex Business Gold and Platinum approvals . . . I have the Platinum card that I was approved for in March 2022 and will purchase some equipment soon. I guess the no preset limit concerns me because I was told that they could also decline a purchase. Best wishes with your business venture!!!

Yes it worries me too. That's one of the 2 reasons I closed my Amex charge cards, the other being the high annual fees.

Re: Amex business gold and platinum approval

Janneman — Wed, 04 May 2022 14:47:24 GMT

@micvite wrote:
@TC1212 wrote:
@micvite Congrats. I got approved for both of them also in February. Just met the spend on my Platinum and about 1k away from meeting the spend on the Gold. My POT was also 15k for both. I had a Delta Amex card for about 18 months so they were soft pulls. I just opened a new LLC when I moved out of state, so I will be applying for 2 new cards - one chage and one credit within the next 30 days.
I met the spend on the gold with my first purchase haha, platinum will follow shortly and the 30k POT is nice at 0%

you charged$15k in one shot? What was that for?

Re: Amex business gold and platinum approval

sugarcreek67 — Wed, 04 May 2022 23:54:34 GMT

Congrats on your double approval from AMEX