I have been posting as of late, sharing my credit journey. As of today my card list is two C1 personal cards, secured cards and Amex Optima card.
As I am growth my business quickly I have had very little options on business credit cards. My only card is the Nav Prime credit card which has been great so far (I'll share my experience on another post). In short a family member agreed to PG one of my businesses that is has DBA.
I did a lot of research and found that the Amex Blue Business Plus was a great starter business credit card since it had no annual fee and came across a target sign-on bonus for 50k MR on $8k within the first 3 months (see my other post below) with 0% APR for the first 12 months.
https://ficoforums.myfico.com/t5/Business-Credit/Amex-Blue-Business-Plus-50k-MR-SUB/m-p/6751243#M500...
Application proces
We applied using my DBA name and submitted the first time the application send error but we received an email saying to call Amex as they needed more information. So before calling I check the status online and the app stated cancelled due to an error. And then received an immediate an email stating the same info. So we applied again and the pending/call Amex message popped up so we called and Amex was requesting the info.
"We're reaching out to you because we received your request for the Blue BusinessSMPlus Credit Card We still need additional information to complete your request.
Here's what we need from you
- Your home address. Please provide a letter from your bank confirming your home address. To ensure timely resolution, please ensure the letter is on original letterhead from the bank and contains the following:
- The banker's name, title, hours of availability and signature
- Confirmation of your home address
- Main number to the bank branch
- An extension or personal line to the banker when applicable"
We agreed and provided all the information. Amex wanted to verify current cash assets in my family members bank account which has roughly $100k. After verifying a bit more personal info over the phone. While on the phone we revived an email confirming we were approved for $12,800! It took a bit but it was all completed within 30 minutes on the same day. So super fortunate and excited!
Given the approval we went an also applied for the Amex personal green since several data points being approved with no issues for An Amex credit card and charge card on the same day. But we were declined, stating due to pas account being closed by Amex.
History
My family actually forgot that they had one Amex card that was included in a bankruptcy over 40 years ago so we believed that was the reason for the Amex Green card denial. We already spent a lot of time talking to Amex for the BBP approval so I didn't want to put my family through another long call with Amex to talk about reconsideration for the green card. But it seems like Amex is giving them a second chance on thr BBP since they approved that card.
but I am very greatful to have access to the BBP card since I can't apply for an Amex card for another 12 months. And I did try myself after getting the optima 2 weeks ago for the green personal but was declined.
but it seems there is still hope with Amex even with BK.
Family Member Stats:
EX: 841
EQ: 821
TU: 830
very few inquiries and only has a few BOA and Discover credit cards with very old age and couple of store cards.
Personal Cards
C1 Savor One $2.7k | Discover IT $200 (Graduated) | Amex Optima $500 | C1 Venture X $31.0k (AU) | C1 Venture One $600 | U.S. Bank Altitude Go $10.0k | Chase Sapphire Reserve $10.0k (AU)
Secured Cards
U.S. Bank Cash+ Secured $1.0k | Truist Enjoy Cash Secured $1.0k
Credit Builder Cards
Chime Credit Builder | cred.ai $1.5K (stated limited)
BOA Cards with Platinum Honors (75% boost)
Travel Rewards $18.0k (AU) | Bank Americard $2.1k (AU) | Customized Cash Rewards $5.0k (AU) | Premium Rewards $18.0k (AU) | Elite $18.3k (AU)
Business Cards
Amex Blue Business Plus $12.8k (AU)
