I got my AMX Business Cash Rewards card in the mail today, I have zero% APR for 12 months, which is better than what was said in the description for this card which said I had 1.99% APR for 6 months then whatever the APR I was given after that.
The APR I got is 21.24% which is kind of high isn't it? I was hoping for 18%
Agreement says I can only use the card for "business" purchases, how do they know what is considered a business purchase for my company? I could be buying pizza for a company function or be buying sandwiches while on a business trip. Would they deny the reward points, agreement says they can. What is your take on this.
That is their "we're off the hook" statement, so that if you don't use it for strictly buisness. It's between you and IRS when you try to write off the expenses. Amex isn't going to know which charges are pesonal or business, it's not their problem. As long as you pay them back and they're collecting swipe fees, everyone is happy.
As for the APR you were notified when you apped, so you should have know what it was going in. CC APR's are kind of high these days, but they're based on your score. Which can be improved.
Personally, I have noticed that with some lenders even if I haev a high score, I'll still get a higher APR if I'm carring balances.
re your ein, is your name on it or do you have a dba? if dba have that info handy as well when you call them back. you said something about amex being an instant approval, not sure what that has to do with anything, they are different lenders and have different guidelines. assuming a decent profile, scores, etc. anybody can get an amex card. not so with chase. be professional with them, be prepared to tell them why you want the card. your scores and existing limits are not that high, if they approve you it might not be for much but with steady use they will either auto the account or surprise you with a decent hp cli. the ciu is by far my favorite card besides the csr, good luck tomorrow, stay focused, upbeat and positive
Do you have less than a year of credit history, or barely over?
Don't take it personal, it's just business. Personally, I prefer Ultimate Rewards over MR and can't wait until I can get back in with Chase.
You should also remember that Chase mailers are never sent by Chase. They have a 3rd party that gets a list of people from the bureaus that might qualify. If you're not an existing Chase member, you can sign up for their Credit Journey. Free score and people think it helps with prequalifying
Called Chase today to get an update on my application for their Ink Business Unlimited card, bare in mind they sent me a pre-qualified application about 3 weeks ago, I was denied the card plus they didn't even offer me a lower tier card like the Freedom.
My first instinct when I got that pre-qual app was to toss it but mulled it over for a few weeks, I was on a roll with AMX applications plus got approved instantly for those 3 cards (one of which was an AMX BLUE BUSINESS card for $7,000) plus $3,000 for a NFCU AMX card. Chase's reasons were insufficient credit and credit history.
If I ever get anything from Chase it's going right in the trash, Chase has the their 5/24 rule I have my own, you deny me I will never do business with you, for me it"s AMX all the way, great company.
Sorry about the denial, those are never fun but...
You got marketing offers and nothing is set in stone till application is submitted.
Based on cards in your signature, including limit on personal amex, disco and platinum card, you do have limited history, so I can see why they would deny at this time.
If Amex makes you happy, stay with them by all means.
With that said, here https://ficoforums.myfico.com/t5/Business-Credit/CHASE-BUSINESS-INK-UNLIMITED/td-p/5697610 not even a week ago, you were terribly disappointed with Amex approval terms, too. Disappointed enough to apply for Ink 🤷
So, it really sounds like you need to adjust your expectations according to your current credit profile, but venting is okay, too.
By the way, Freedom is not "lower" tier. Not everyone has a spend that would align with a card like Ink.
Good luck with your future appliactions