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AMEX Business card approval odds?

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Regular Contributor

AMEX Business card approval odds?

Kicking around the idea of applying for a business card and the AMEX Simplycash Plus is appealing to me. Curious as to how much of the approval odds are similar to a personal card app or if the biz process is different. I have a couple cobranded cards that I get a pre-approval for on the personal end but nothing that really benefits me. Anyway, some info...

No prior AMEX relationship

Scores: Around 660 across the board.

No recent bad stuff. I do have a 4 year old collection and some mortgage lates that are soon to drop off.

125k in yearly biz revenue

20+ years in business

Only 2-3 inquiries so even a denial wouldn't hurt too bad

 

Anyway, thoughts? Or more data points that would enter into it? 

Thanks!

Message 1 of 5
4 REPLIES 4
Frequent Contributor

Re: AMEX Business card approval odds?

In my opinion, without a prior relationship with AMEX and with a EX 660, it might be a stretch even with decent business stats. If approved, I’d also suspect a low SL, like $2000.

You might either try a business charge card like the Green, Gold, or Platinum first. Charge cards tend to be easier to obtain. Or, you could try to obtain one of the cobranded personal cards you’re pre-approved for an build some history with AMEX for 6 months or so and then try for the Simply Cash then. Business card approvals with AMEX are going to rely heavily on your personal creditworthiness.
Personal Credit -
AMEX: Platinum, Green, Cash Magnet, Schwab Investor
PNC: Cash Rewards, Points
NFCU: Flaghship Rewards, Cash Rewards, More Rewards, CLOC
PSECU: Founders
BB&T: Spectrum Cash Rewards
CapOne: Quicksilver
Discover: IT Chrome
Synchrony: PayPal 2%, PayPal Credit
Barclays: Uber
PenFed: Power Cash Rewards
Store Cards: Target
AU Cards: Citi Rewards+

Business Credit-
AMEX: Blue Business Plus, Amazon Prime, Simply Cash Plus
Message 2 of 5
New Contributor

Re: AMEX Business card approval odds?

660 Doesnt sound good .Check on their website pre-approvals, If yes then you got a good shot.

Since no prior, I would n't expect more than 2K.

From my prospective, more options like WF,Barclys/US Bank if EX/TU 700+.

Message 3 of 5
Regular Contributor

Re: AMEX Business card approval odds?

Thanks for the advice, guys. Strangely enough, my EQ Fico score jumped 49 points yesterday. I'm hoping the others follow with something similar. Does AMEX usually pull EX?

Message 4 of 5
New Contributor

Re: AMEX Business card approval odds?

If you have no prior relationship you'll probably end up with a 2K SL if you are accepted. It was my first AMEX card, 2K SL, was in 680-690 range when they pulled Experian.

Message 5 of 5
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