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Amex Biz Loan Approval

mgarnes
Frequent Contributor

Amex Biz Loan Approval

Hey all,

 

When i logged into AMEX earlier, got a pop up saying I was pre-approved for up to $25k for a biz loan through American Express. I took the minimum $3500 and it did not seem to do an HP. I'll use that to pay off my NFCU Business MasterCard and just make payments on this. I did 24 months with payments being $119 with an APR of 6.99%.

 

 


Chase Freedom (5.6k) Chase Amazon AU (13k) NFCU cashRewards (20k) NFCU Business MasterCard (10k) Bank Americard Platinum Plus MasterCard (5.4k) Chase Slate (5k) Amex Business Delta SkyMiles Platinum (17k) Bank of America Sandals Rewards (9k) Chase ink Preferred (10k)
Message 1 of 5
4 REPLIES 4
inverse
Established Contributor

Re: Amex Biz Loan Approval

Thanks for testing the waters on this.

If you see the tradeline show up anywhere, please let us know.

Message 2 of 5
SouthJamaica
Mega Contributor

Re: Amex Biz Loan Approval


@mgarnes wrote:

Hey all,

 

When i logged into AMEX earlier, got a pop up saying I was pre-approved for up to $25k for a biz loan through American Express. I took the minimum $3500 and it did not seem to do an HP. I'll use that to pay off my NFCU Business MasterCard and just make payments on this. I did 24 months with payments being $119 with an APR of 6.99%.

 

 


I also availed myself of one of those. It's not on your personal credit, and it does not pull your personal credit report.

 

 


Total revolving limits 699000 (597000 reporting) FICO 8: EQ 718 TU 721 EX 698

Message 3 of 5
Matt4200
Valued Contributor

Re: Amex Biz Loan Approval

I guess you guys are just lucky!

At this time, we do not have any pre-approved offers for an American Express Business Loan available to you. Pre-approved offers are based on creditworthiness and other factors and are subject to change over time.

We apologize for any inconvenience. Thank you for your interest in American Express Business Loans.
Message 4 of 5
SouthJamaica
Mega Contributor

Re: Amex Biz Loan Approval


@Matt4200 wrote:
I guess you guys are just lucky!

At this time, we do not have any pre-approved offers for an American Express Business Loan available to you. Pre-approved offers are based on creditworthiness and other factors and are subject to change over time.

We apologize for any inconvenience. Thank you for your interest in American Express Business Loans.

I don't recall if mine said pre approved or not... it was an offer... I tried it... it was a good product. I would use it again.

 

What would be even more useful would be a line of credit, rather than an installment-type loan.

 

 


Total revolving limits 699000 (597000 reporting) FICO 8: EQ 718 TU 721 EX 698

Message 5 of 5
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