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Amex business gold application asking for last three statements

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ELgranjan
New Member

Amex business gold application asking for last three statements

Hello everyone,

 

I recently came across a special offer for the Amex Business Gold on my account page and thought of applying for it. However, upon submitting my application, I was surprised to see a request for my last three bank statements. I’ve been a loyal Amex customer for five years and already have three other cards with them - Platinum, BBC, and BCP.

 

To be honest, I’m not comfortable with sending my personal information like bank statements. Has anyone else experienced this while applying for an Amex card? I would appreciate hearing your opinions on why they ask for this and if there is any reason to be concerned.

 

I understand that financial institutions often request such documents to assess creditworthiness and verify financial history. Still, I’m a bit apprehensive about sharing such sensitive data. If anyone has insights into Amex’s review process or can shed light on their data security measures, it would be greatly appreciated.

 

Additionally, I’m curious if any of you have experience canceling an Amex credit card application before approval. Will canceling the application have any impact on my existing Amex cards or future applications? I want to make an informed decision about whether to proceed with the application or explore other options that may not require sharing my bank statements.

 

 

6 REPLIES 6
JoeRockhead
Senior Contributor

Re: Amex business gold application asking for last three statements

They're simply wanting to look at your cash flow to help determine whether or not they will expand their exposure with you, issue an approval and/or what SL they're willing to extend, much like a lender wanting pay stubs to verify income on the personal side. Not complying with their request will most likely void the application after 30 days from the date you applied. Your other option is possibly contacting them and voicing your concerns about your privacy, and see if they are open to possibly allocating some of your limit from an existing card, to the new card.

 

As far as fall out from canceling the application, there should be no impact to your CR, or score since it was most likely a SP. Whether or not they flag your account for this requested info for future requests, I can't answer that with any certainty. 

Message 2 of 7
ELgranjan
New Member

Re: Amex business gold application asking for last three statements

Thanks for your response. I just want to be cautious about sharing personal info. I applied for the Amex Gold charge card, and the bank statement request surprised me. I hope everything goes well. Anyways, thank you for your help!

Message 3 of 7
ELgranjan
New Member

Re: Amex business gold application asking for last three statements

Should I upload both savings and checking account statements for my Amex application? My higher spending is on the account I didn’t upload, and all my Amex payments are made with that account. Any advice on the best approach? Thanks!

Message 4 of 7
DSTMystique
Member

Re: Amex business gold application asking for last three statements

I recently requested a CLI for my BBC and they asked for last 3 statements from my business checking account.  I sent them and immediately got the CLI. 

 

For context, I am an 18 year AMEX card holder with 6 cards with them (Plat, Plat Business, BBC, Gold Business, Marriott Bonvoy Bevy, and BCE)

 

Once you really get in with AMEX, and maintain a great payment/spend history with them, they will give you what you want.  

Message 5 of 7
Webspry
Established Member

Re: Amex business gold application asking for last three statements

Not sure why you'd have a problem asking for credit and not wanting to provide them with information in order to grant you credit. It could be for a number of reasons: one is simply you may be a newer business without much history. 

I recently received two Amex Business cards.  6 months apart. The first I was asked to provide 3 months of bank statements. Wasn't a problem for me to give them this info. I've had a relationship with Amex for over 24 yrs. The second card I was not asked for any other documentation. 

Nothing to do with Amex but I also recently walked into a local bank having no relationship with them. Laid my cards on the table and asked for $50K small business loan. After giving them my business info and competing bank statements they approved the loan instantly. I think relationships still are important in financial matters. Honestly I don't understand why companies will give folks 1000s of dollars on new business start ups via an online application without more info. 

 

Message 6 of 7
micvite
Frequent Contributor

Re: Amex business gold application asking for last three statements


@Webspry wrote:

Not sure why you'd have a problem asking for credit and not wanting to provide them with information in order to grant you credit. It could be for a number of reasons: one is simply you may be a newer business without much history. 

I recently received two Amex Business cards.  6 months apart. The first I was asked to provide 3 months of bank statements. Wasn't a problem for me to give them this info. I've had a relationship with Amex for over 24 yrs. The second card I was not asked for any other documentation. 

Nothing to do with Amex but I also recently walked into a local bank having no relationship with them. Laid my cards on the table and asked for $50K small business loan. After giving them my business info and competing bank statements they approved the loan instantly. I think relationships still are important in financial matters. Honestly I don't understand why companies will give folks 1000s of dollars on new business start ups via an online application without more info. 

 


Hey, I may be in a bit of a pickle (tiny one) but after having my preset limits slashed on all my cards (Plat, gold, biz gold and biz plat) I got pulled into FR. They asked for 2 months bank statements, sent them in, income showing well over what I stated (stated 480 showing around 530). Well now I'm at the point of appealing the limit changes (even though the biz Plat limit change was a result of the FR for some odd reason) 

 

Anyhow all is good for the personal cards, sent in last 3 statements showing income of around 650 if they take the average and convert it into annual, but the issue is with the biz gold... they want business bank statements which I don't have. While I know I shouldn't mix personal and biz transactions, after wells fargo shut down all my accounts earlier this year I haven't gotten around to opening a new acc for my business and figured if I even got audited it wouldn't matter since there's a clear distinction of what's business charges and what's not (I just use credit cards for everything and where I pay them from shouldn't matter), and all the spare cash was being transferred to my personal account anyway. Anyhow reasons aside, do I just live with the new limit or is there any way they'll accept my personal statements, and if I do send personal statements or don't send anything any risk of the biz accounts closing?

Ex: 742, TU: 726, EQ: 733 03/31/2021
Discover it cashback: $10900
Citi DC: $13000
WF Propel: closed 2k
Amex BCED: $3000
Amex Gold: $NPSL
Amex Plat: NPSL
Cap1 QS: $3200
Cap1 VX $50k
VS CC: $2900
Kohls: $3000
Synchrony car care: $3000
citi best buy visa: $8500
Message 7 of 7
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