topic Re: FIRST EVER AMEX - Delta Gold - Have questions in Business Credit

FIRST EVER AMEX - Delta Gold - Have questions

Anonymous — Tue, 30 Jul 2013 04:46:43 GMT

Hey guys! Due to the amazing info on here and encouragement, I have dug myself out of student loan defualt hell, rehabbed my 2 loans, and now have my credit score increased from an all time low of 550 in 2011 to a 678 in 2013! Amazing and very happy.

I just applied for an Amex Gold Delta (PERSONAL)on line and got approved! No idea what my credit limit is but I'm very excited about this!

I have my own business where we do about 300,000 a year in sales/income. I spend a lot on marketing with internet ads for clients so I tend to use my credit cards a lot, only thing was my only two cards were low balance ($500 Capital One, $1000 BoA) I pay them off 2-3x a month, sometimes more. Hopefully they will increase my limit in time, i haven't asked yet.

Im curious to see what Amex gives me, but I do not care at the end of the day because I will always pay it off and build it up really nice. I have a lot of cash and liquid accesible money and use very little credit, I am still in debt about $10,000 for student loans but pay those off on time every single month now.

My quesitons are, a) did I make a good decison? B) what cna i do to build up my rep and score with amex so i can get larger limits and C) How do I go about getting another card with more cash back? I don't travel much but maybe I will now with this delta card.. I spend a lot on ads so I think cash back would be a good fit for me.

Also, on another note. How do i establish business credit? I registered for a D&B file and am going to try and build a tradeline up, I'd like an Amex in my business name because I do have a lot of expenses per year for my buisness ($100,000-200,000 a year on total expenses) SO I think spending that through Amex would be really good for my score and future credit limits.

Thanks for all the support and help, and continued success!

Re: FIRST EVER AMEX - Delta Gold - Have questions

pizzadude — Tue, 30 Jul 2013 04:08:11 GMT

Moving to Business Credit

Re: FIRST EVER AMEX - Delta Gold - Have questions

Anonymous — Tue, 30 Jul 2013 04:09:38 GMT

Pizzadude why ? THis card is a PERSONAL Amex, the business credit was just an after-thought,i can edit that back and you can move this back to the Personal forum. My apolgoies! I'll make two sepearate posts!

Re: FIRST EVER AMEX - Delta Gold - Have questions

scenery_guy — Tue, 30 Jul 2013 04:18:11 GMT

@Anonymous wrote:
Pizzadude why ? THis card is a PERSONAL Amex, the business credit was just an after-thought,i can edit that back and you can move this back to the Personal forum. My apolgoies! I'll make two sepearate posts!

It's also good here if you are looking for less "rah rah" answers and more specifically about business credit. It looks like you are so be patient, the business answers come less frequently but will happen. I actually look here first then move on to the credit card area.

Re: FIRST EVER AMEX - Delta Gold - Have questions

Anonymous — Tue, 30 Jul 2013 04:27:21 GMT

Thanks dude. Okay maybe ill keep it here.. I'm assuming i need to build up and spend on my Personal Amex before applying for a business one, right ?

Re: FIRST EVER AMEX - Delta Gold - Have questions

scenery_guy — Tue, 30 Jul 2013 04:28:51 GMT

@Anonymous wrote:
Hey guys! Due to the amazing info on here and encouragement, I have dug myself out of student loan defualt hell, rehabbed my 2 loans, and now have my credit score increased from an all time low of 550 in 2011 to a 678 in 2013! Amazing and very happy.

I just applied for an Amex Gold Delta on line and got approved! No idea what my credit limit is but I'm very excited about this!

I have my own business where we do about 300,000 a year in sales/income. I spend a lot on marketing with internet ads for clients so I tend to use my credit cards a lot, only thing was my only two cards were low balance ($500 Capital One, $1000 BoA) I pay them off 2-3x a month, sometimes more. Hopefully they will increase my limit in time, i haven't asked yet.

Im curious to see what Amex gives me, but I do not care at the end of the day because I will always pay it off and build it up really nice. I have a lot of cash and liquid accesible money and use very little credit, I am still in debt about $10,000 for student loans but pay those off on time every single month now.

My quesitons are, a) did I make a good decison? B) what cna i do to build up my rep and score with amex so i can get larger limits and C) How do I go about getting another card with more cash back? I don't travel much but maybe I will now with this delta card.. I spend a lot on ads so I think cash back would be a good fit for me.

Also, on another note. How do i establish business credit? I registered for a D&B file and am going to try and build a tradeline up, I'd like an Amex in my business name because I do have a lot of expenses per year for my buisness ($100,000-200,000 a year on total expenses) SO I think spending that through Amex would be really good for my score and future credit limits.

Thanks for all the support and help, and continued success!

Yes you made a good decision. Once you get rolling with business credit cards you won't regret it. Big bonus is the UTL does not show on your personal reports so you can max them out but as long as you pay (preferably in full each cycle hint hint) your personal report stays very clean except for the HP to get the card.

Stop with the D&B. It's not worth your time, money or efforts. It will grow on it's own but now days unless you are a Government contractor it's of little to no use. If you are paying them money call tomorrow to cancel and get the money back.

Use your Delta Gold card hard for the next 3 months. PIF every cycle. Ask for the CLI at 61 day or wait until third statement has posted then ask for CLI. Once you have seen a 3X CLI apply for an AmEx for business. Choose wisely. There are cash back cards, charge cards that earn MR points and other co branded cards. Take your time and ask us questions about the AmEx business cards you are considering but DO NOT APP NOW. SHow them use and payment and you will be a shoe in for a card or two for the business.

If it's a business card it won't help your personal score at all. But it wont hurt it and it will help you with AmEx in the future.

Once you get the business AmEx wait a 90 days and apply for a Chase Ink. You need a couple of the big guys on your side and those are AmEx and Chase. I love them equally and could not do it without both of them. All other business credit cards are cannon fodder for points in my opinion.

Others will chime in, in the mean while congratulations and stay focused, your business AmEx is about 90 days away!

Re: FIRST EVER AMEX - Delta Gold - Have questions

scenery_guy — Tue, 30 Jul 2013 04:30:57 GMT

@Anonymous wrote:
Thanks dude. Okay maybe ill keep it here.. I'm assuming i need to build up and spend on my Personal Amex before applying for a business one, right ?

Start a new thread in general credit card to discuss the Gold Delta card if you like but I can bet you will see much more helpful responses here about the business credit. I did and I have learned a lot from my fellow business credit posters.

Re: FIRST EVER AMEX - Delta Gold - Have questions

Anonymous — Tue, 30 Jul 2013 04:32:51 GMT

Thank you so much man! I was an idiot and applied for a business credit Citi Card before I did the personal Amex and I got denied , I like Citi and BoA because they offer the "ShopSafe" virtual credit cards and I use those for my ad clients to purchases their ads without having to disclose my actual credit card number.

Okay so I take it I will follow your instructions to the T about the Amex Gold and then in 90 days apply for a buisness.. did the fact I got denied on that business citi card really F*** me ? If so, I apologize. I'm a complete newb. I'm 25 and had poor history with loans, got myself out of this hole and feel great now!

Chase is my only issue, I bank with them, they see me keep over 100k in my accounts at all times, and on top of that they wont give me a credit card.. I Defaulted on one in the past and like an IDIOT instead of paying in full I settled for less. It was pure stupidity. My banker had me apply for the Ink business card like twice already, even tried pushing a special consideration based on my balances.. no dice.. I'll wait on Chase for a bit until it either drops from my report (2017 i think) or I have enough good going to counter-act hat stupid default of $557. ( Was a $500/limit) College and credit cards dont mix!

I have 2 personal CCs now, a BoA at 1k limit and Capital one at 500 limit and now this Amex at ??? Limit (havent been told yet)

Thanks for the amazing input guys

Re: FIRST EVER AMEX - Delta Gold - Have questions

scenery_guy — Tue, 30 Jul 2013 06:47:40 GMT

@Anonymous wrote:
Thank you so much man! I was an idiot and applied for a business credit Citi Card before I did the personal Amex and I got denied , I like Citi and BoA because they offer the "ShopSafe" virtual credit cards and I use those for my ad clients to purchases their ads without having to disclose my actual credit card number.

Okay so I take it I will follow your instructions to the T about the Amex Gold and then in 90 days apply for a buisness.. did the fact I got denied on that business citi card really F*** me ? If so, I apologize. I'm a complete newb. I'm 25 and had poor history with loans, got myself out of this hole and feel great now!

Chase is my only issue, I bank with them, they see me keep over 100k in my accounts at all times, and on top of that they wont give me a credit card.. I Defaulted on one in the past and like an IDIOT instead of paying in full I settled for less. It was pure stupidity. My banker had me apply for the Ink business card like twice already, even tried pushing a special consideration based on my balances.. no dice.. I'll wait on Chase for a bit until it either drops from my report (2017 i think) or I have enough good going to counter-act hat stupid default of $557. ( Was a $500/limit) College and credit cards dont mix!

I have 2 personal CCs now, a BoA at 1k limit and Capital one at 500 limit and now this Amex at ??? Limit (havent been told yet)

Thanks for the amazing input guys

You are off to a good start. Patience with AmEx. Show them you can do well and reapply later.

The Chase situation sucks but don't worry, keep grinding and let it drop off and they will welcome you. Keep talking to your banker, mine has been a great help. I am in deep with Chase banking.

Don't bother with the virtual cards once you get business credit cards. Let the bank deal with any fraud that happens, especially AmEx once you get a business card. They are tops with this and you can rest easy as they are there to protect you and themselves.

Re: FIRST EVER AMEX - Delta Gold - Have questions

Anonymous — Tue, 30 Jul 2013 17:36:31 GMT

I like the virtual cards because i manage online ads for clients and make one for each client so i dont have to give the client my actual credit card number, i set a limit on it an giv them the # and i can monitor it easily

its for my organizational purposes also.. I actually like them

If I ask for an additional Amex card does it do a hard pull on the SSN I input?

Thanks

Re: FIRST EVER AMEX - Delta Gold - Have questions

Creditaddict — Tue, 30 Jul 2013 17:36:59 GMT

If you were approved for a personal amex "Credit Card" I would go ahead and apply for a business Gold or platinum "Charge card" now. Then in 61 days apply for your 3x CLI on your personal delta... if approved, then you can turn around and apply for a business credit card if you like or keep using charge card if you can pay in full.

Re: FIRST EVER AMEX - Delta Gold - Have questions

Anonymous — Tue, 30 Jul 2013 19:40:02 GMT

It was the Personal Amex Delta Skymiles, They approved me at $5,000 credit limit to start. I'm going to use it and pay it off in full a few times, any ideas on what I should use it for and how much I should use in my first 60 days? Want to play this smartr!

I applied for a citi business credit card and got denied (before I did the amex personal) so I may just let the business thing sit for a while.. Unless you recommend applying for the charge card now..

Will they approve me ?

Re: FIRST EVER AMEX - Delta Gold - Have questions

scenery_guy — Tue, 30 Jul 2013 21:06:34 GMT

@Anonymous wrote:
It was the Personal Amex Delta Skymiles, They approved me at $5,000 credit limit to start. I'm going to use it and pay it off in full a few times, any ideas on what I should use it for and how much I should use in my first 60 days? Want to play this smartr!

I applied for a citi business credit card and got denied (before I did the amex personal) so I may just let the business thing sit for a while.. Unless you recommend applying for the charge card now..

Will they approve me ?

Now that you are an AmEx member any additional applications will be a SP for denial but a HP if you get it. $5K a nice starting line on the Delta. In 61 days you should be at $15K with the 3X increase maximum. Better than me, my first was the Delta Platinum at $2K.

You could try for a revolver but don't do it. I know it's hard - I just went thru what you are doing a year ago. You were already denied a personal charge before the Delta card so chances are it will be another denial. Give it some time as they saw something they thought worth adding you as a customer. Don't go against it. Just keep pushing like you are and get the 3X CLI first. If you go blowing HOP for denials you will end up waiting even longer for those to drop.

Re: FIRST EVER AMEX - Delta Gold - Have questions

Anonymous — Tue, 30 Jul 2013 23:52:49 GMT

Okay so go for a Gold, Silver, Plum ? All diff charge cards for business.

Which one should I go for ?

Thanks!

Those are the only options

I wasnt denied a personal charge card i was denied citi business credit card.. I didn't apply for any personal credit there

Re: FIRST EVER AMEX - Delta Gold - Have questions

Creditaddict — Wed, 31 Jul 2013 00:35:41 GMT

@Anonymous wrote:
Okay so go for a Gold, Silver, Plum ? All diff charge cards for business.

Which one should I go for ?

Thanks!

Those are the only options

I wasnt denied a personal charge card i was denied citi business credit card.. I didn't apply for any personal credit there

I would apply for Gold Business Charge and NOW!

Re: FIRST EVER AMEX - Delta Gold - Have questions

Anonymous — Wed, 31 Jul 2013 00:37:48 GMT

Really? Okay. I'l ltry it out. Could I ever upgrade to PLUM from the gold? The reason I like the plum is all of my colleagues have it and say the 1.5% cash back is amazing. Considering I spend upwards of 2-5k a day on ads with my credit card, and pay it off within 7 days each time, I probably could use the 1.5% cahs back and it'd help me a lot... but I hear it's harder to get then a regular charge card

sorry for being a newb just overwhelmed with all the little intricisies of these credit cards

thanks so much for the help

Re: FIRST EVER AMEX - Delta Gold - Have questions

myjourney — Wed, 31 Jul 2013 01:00:43 GMT

@Anonymous wrote:
Really? Okay. I'l ltry it out. Could I ever upgrade to PLUM from the gold? The reason I like the plum is all of my colleagues have it and say the 1.5% cash back is amazing. Considering I spend upwards of 2-5k a day on ads with my credit card, and pay it off within 7 days each time, I probably could use the 1.5% cahs back and it'd help me a lot... but I hear it's harder to get then a regular charge card

sorry for being a newb just overwhelmed with all the little intricisies of these credit cards

thanks so much for the help

You can not upgrade a charge card to a revolver so be aware of this before taking any advice to apply

upgrade rule with Amex

Revolver - revolver

charge -charge

Hope this clears that up before you apply

If I were you OP I would just apply for the card I wanted (plum)

as sceneryguy said its a SP if denied HP if approved win win chance

Re: FIRST EVER AMEX - Delta Gold - Have questions

Anonymous — Wed, 31 Jul 2013 00:59:46 GMT

I though the plum card was a charge card , right ? Or is it a revolve.. I'm saying if i apply for the Amex Gold Charge card, I can't get the Amex plum in due time with good spend/billing history ?

Thanks

Re: FIRST EVER AMEX - Delta Gold - Have questions

Creditaddict — Wed, 31 Jul 2013 01:03:45 GMT

If you want Plum, Apply for that... If denied.. go right back in and apply for Gold.

Plum is charge but they are harder to get then Gold and platinum for whatever reason - at least it use to be... but you got $5k personal... i think your are golden for charge card approval of your choice.

Re: FIRST EVER AMEX - Delta Gold - Have questions

Anonymous — Wed, 31 Jul 2013 01:06:27 GMT

oKay so none of the denials will **bleep** my credit score up right ? Thanks so much guys.

Also a side note, my buddy added me as an Authorized User of his Plum card last year in 2012, there's no shot fo me being backdated to that date when my SSN was entered into the system? he spent a lot of money and paid it off so I definitly think being on his Amex as an authorized user helped me get the Amex Gold Personal Delta card with a 5k limit, but then again the way you guys say Amex is random who really knows!

And I saw some ppl mentioning callign Amex and asking for a "Product Change" with the delta gold skymiles to maybe get the BCE or cash back card? I really don't travel a lot at all so the delta card isn't the most appealing to me, but hey it's a foot in the door with Amex and I do a lot of transactions so I'd love to build a good relationship with them