topic Re: AMEX Credit Card limit questions in Business Credit

AMEX Credit Card limit questions

PointsBonus — Thu, 15 Dec 2022 00:50:26 GMT

Team,

Hope everyone is doing well.
Here is the scenario

I am currently maxed out on the amount t of AMEX credit cards that AMEX allows me to hold (my soft limit) which are 3 Business Credit Cards and 3 Personal Credit Cards.

The question is the 3 Business Cards are "ABC Sole proprietor "

IF I wanted to Apply for a Credit Card in a new business I just started and it is "XYZ LLC" - would the LLC start a "new" set of "credit cards"

thank you all in advance.

Re: AMEX Credit Card limit questions

BearsCubsOtters — Wed, 14 Dec 2022 04:16:07 GMT

I am not 100% on this, but I believe since they are all personal guarantee, the maximum number of cards is per human/guaranter.

Again, I could be wrong. There is also evidence that if Amex really, really likes you (because you are really, really spending/repaying), they are willing to establish more accounts than the current overall known maximums.

Since you are an existing cardmember, you could certainly apply for the card you want and it would likely be a SP. If denied you have your answer with no damage; if approved..holy cow!

Re: AMEX Credit Card limit questions

PointsBonus — Wed, 14 Dec 2022 13:36:24 GMT

I will wait for a good SUB and become the Guinea Pig !

Re: AMEX Credit Card limit questions

805orbust — Wed, 14 Dec 2022 14:15:36 GMT

Wow @PointsBonus you've got AMEX cards!!! I'd loooove to see that DP because... science 😉

Re: AMEX Credit Card limit questions

pizzadude — Wed, 14 Dec 2022 14:18:04 GMT

You can certainly try to apply for another card but I'd give low odds on approval if all of your other 6 cards are maxed.

Re: AMEX Credit Card limit questions

PointsBonus — Wed, 14 Dec 2022 14:19:45 GMT

@pizzadude ..... I know I am maxed out.... but I am so curious. I am thinking if the "right" delta SUB comes along I will pull the trigger to see.......

Re: AMEX Credit Card limit questions

cashorcharge — Thu, 15 Dec 2022 00:23:24 GMT

Even though you have a mix of personal, ABC Sole Prop and XYZ Company...the max accounts to be approved for is still the same...there is not another counter that starts with the new company...

Once you get those paid down, let us know how it works out.

Re: AMEX Credit Card limit questions

FinStar — Wed, 14 Dec 2022 23:10:03 GMT

@cashorcharge wrote:
Even though you have a mix of person, ABC Sole Prop and XYZ Company...the max accounts to be approved for is still the same...there is not another counter that starts with the new company...

Once you get those paid down, let us know how it works out.

This ^^^ @PointsBonus

Even if you decide to apply as a new entity such as LLC, S-Corp, etc., AENB goes by personal guarantee, so unless you have a clone, a twin or can split yourself into two people, the max number of accounts will be limited so YEMV until AENB decides to approve any additional accounts.

Re: AMEX Credit Card limit questions

PointsBonus — Thu, 15 Dec 2022 00:43:00 GMT

@cashorcharge @FinStar

I am confused on the "paid down" part ?
all my AMEX are PIF even the Credit Card

Re: AMEX Credit Card limit questions

cashorcharge — Thu, 15 Dec 2022 00:46:04 GMT

@PointsBonus wrote:
@cashorcharge @FinStar
I am confused on the "paid down" part ?
all my AMEX are PIF even the Credit Card

You mentioned they are "maxed out"

Charge Cards are PIF (Unless you have a Pay Over Time limit)

Credit Cards have a limit (like a Visa despite being offered by AMEX) and if they are "maxed out" you will be less likely to get approved.

Re: AMEX Credit Card limit questions

PointsBonus — Thu, 15 Dec 2022 00:47:37 GMT

@cashorcharge I am sorry ! Lol Maxed out meaning I am maxed out at 6 Credit Card "soft limit" not the balances on the credit cards.
Sorry !

Re: AMEX Credit Card limit questions

FinStar — Thu, 15 Dec 2022 01:42:31 GMT

@PointsBonus wrote:
@cashorcharge @FinStar
I am confused on the "paid down" part ?
all my AMEX are PIF even the Credit Card

I didn't think your accounts were maxed out balances-wise.

My comment was in reference to the highlighted/bolded piece for AmEx revolving accounts regardless of what or how many entities you create. AmEx uses personal guarantees unlike some business lenders that allow the company or entity as the guarantor -- depending on business structure.

So, will they allow you a 7th one? Well, that remains to be seen whenever you decide to pull the trigger ☺️

Re: AMEX Credit Card limit questions

RehabbingANDBlabbing — Thu, 15 Dec 2022 02:22:03 GMT

Currently, I have these AmEx cards:

Personal Platinum

Personal Delta Reserve

Delta Platinum Business

Amazon Prime Business

Bonvoy Business

Hilton Business

Blue Business Plus

Business Gold

That's 8 cards total, with 6 being revolvers. I've had a lot easier time getting the business cards versus the personal ones. I think the limit of 6 is probably on revolvers, but I think the Blue Business Plus may or may not count because it's technically NPSL.

Re: AMEX Credit Card limit questions

FinStar — Thu, 15 Dec 2022 02:58:34 GMT

@RehabbingANDBlabbing wrote:
Currently, I have these AmEx cards:

Personal Platinum
Personal Delta Reserve

Delta Platinum Business
Amazon Prime Business
Bonvoy Business
Hilton Business
Blue Business Plus
Business Gold

That's 8 cards total, with 6 being revolvers. I've had a lot easier time getting the business cards versus the personal ones. I think the limit of 6 is probably on revolvers, but I think the Blue Business Plus may or may not count because it's technically NPSL.

@RehabbingANDBlabbing - the revolving soft limit typically falls between 5 or 6 for plenty of folks (depending on the profile). I've crossed that threshold into 15+ pure revolvers (personal and business).

The Blue Business Plus is a business revolving account, not NPSL (T&C's doesn't state it's NPSL). Not sure if you're mixing that with the Plum Card.

https://www.americanexpress.com/us/credit-cards/business/business-credit-cards/american-express-blue-business-plus-credit-card-amex/

Re: AMEX Credit Card limit questions

RehabbingANDBlabbing — Thu, 15 Dec 2022 20:12:39 GMT

@FinStar wrote:
@RehabbingANDBlabbing wrote:
Currently, I have these AmEx cards:

Personal Platinum
Personal Delta Reserve

Delta Platinum Business
Amazon Prime Business
Bonvoy Business
Hilton Business
Blue Business Plus
Business Gold

That's 8 cards total, with 6 being revolvers. I've had a lot easier time getting the business cards versus the personal ones. I think the limit of 6 is probably on revolvers, but I think the Blue Business Plus may or may not count because it's technically NPSL.
@RehabbingANDBlabbing - the revolving soft limit typically falls between 5 or 6 for plenty of folks (depending on the profile). I've crossed that threshold into 15+ pure revolvers (personal and business).

The Blue Business Plus is a business revolving account, not NPSL (T&C's doesn't state it's NPSL). Not sure if you're mixing that with the Plum Card.

https://www.americanexpress.com/us/credit-cards/business/business-credit-cards/american-express-blue-business-plus-credit-card-amex/

I say it's technically NPSL because you can spend above the limit they have for the account, but the stipulation is that anything above the limit must be paid in full that month. So it's kind of a hybrid product in that regard. But it's not a standard NPSL charge card like the Plum, Green, Gold, etc. But your established limit isn't necessarily your full limit either.

Re: AMEX Credit Card limit questions

FinStar — Fri, 16 Dec 2022 01:55:24 GMT

@RehabbingANDBlabbing wrote:
@FinStar wrote:
@RehabbingANDBlabbing wrote:
Currently, I have these AmEx cards:

Personal Platinum
Personal Delta Reserve

Delta Platinum Business
Amazon Prime Business
Bonvoy Business
Hilton Business
Blue Business Plus
Business Gold

That's 8 cards total, with 6 being revolvers. I've had a lot easier time getting the business cards versus the personal ones. I think the limit of 6 is probably on revolvers, but I think the Blue Business Plus may or may not count because it's technically NPSL.
@RehabbingANDBlabbing - the revolving soft limit typically falls between 5 or 6 for plenty of folks (depending on the profile). I've crossed that threshold into 15+ pure revolvers (personal and business).

The Blue Business Plus is a business revolving account, not NPSL (T&C's doesn't state it's NPSL). Not sure if you're mixing that with the Plum Card.

https://www.americanexpress.com/us/credit-cards/business/business-credit-cards/american-express-blue-business-plus-credit-card-amex/
I say it's technically NPSL because you can spend above the limit they have for the account, but the stipulation is that anything above the limit must be paid in full that month. So it's kind of a hybrid product in that regard. But it's not a standard NPSL charge card like the Plum, Green, Gold, etc. But your established limit isn't necessarily your full limit either.

Any AmEx CC can be used over the limit (as approved internally), so it's not exclusive to just the BBP credit card nor is it a "hybrid product". AmEx doesn't "technically" define that particular card as anything hybrid (or any revolver for that matter) or as NPSL either.

Regardless and back on topic, the OP was curious about the number of revolvers or maximum limit and the BBP is a revolving credit card, it is not part of the Green, Gold, Platinum, Plum, ZYNC, Centurion types of cards. There is no "hybrid" classification for BBP.

Re: AMEX Credit Card limit questions

Slipperyslope2045 — Mon, 19 Dec 2022 05:12:39 GMT

Really? I have 10 Amex cards. Score is 678 but I have been a customer since 2006.

Re: AMEX Credit Card limit questions

LP007 — Thu, 22 Dec 2022 01:26:07 GMT

Gotta trust the science. 😅