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Differences between AMEX biz and biz credit cards that require business docs?

Times
New Contributor

Differences between AMEX biz and biz credit cards that require business docs?

So I got the AMEX business prime card. I didn't need to submit any business docs for it. 

I notice other business cards sometimes require LLC documents or some other form of business verification. 


Is there a difference between the two?

Like I think the AMEX business cards dont report to your personal credit unless you default or something. Do they report to personal if you miss payment or something

Do other business cards that require docs not report anything and strictly keep everything on business credit?

Credit score: 785~ | Goal: 800~

Credit Cards:
Tomo Credit: $6k
Amex prime business: $34k
x1 $18k

Debit cards:
Cash app & Target red debit card

Goal cards:
Amex gold biz & Amex platinum personal

Dream card:
Amex black card
Message 1 of 8
7 REPLIES 7
SouthJamaica
Mega Contributor

Re: Differences between AMEX biz and biz credit cards that require business docs?


@Times wrote:

So I got the AMEX business prime card. I didn't need to submit any business docs for it. 

I notice other business cards sometimes require LLC documents or some other form of business verification. 


Is there a difference between the two?


In my experience there haven't been any noticeable differences between Amex and other banks; it seems that with all banks, sometimes they request some documents, sometimes they don't. It's possible Amex is one of the less annoying lenders in terms of application hoops to jump through but I'm not really sure. 

 

Perhaps others will have more insight on this.


Total revolving limits 748700 (628200 reporting) FICO 8: EQ 701 TU 717 EX 682

Message 2 of 8
4sallypat
Valued Contributor

Re: Differences between AMEX biz and biz credit cards that require business docs?

If you have a current/past relationship with Amex, getting business or personal card is quite painless.

 

I have the same Amazon Prime Business Amex and love it for business as it's my only revolver with Amex.

 

Other business cards required more docs: business bank statements (Citizen's Bank), EIN (FNBO, ARCO, Fuelman, Walmart Commercial), business credit scores ( Citi, Barclays), state resale tax permit (Citizen's, Walmart Commercial, Citi).

Message 3 of 8
wasCB14
Super Contributor

Re: Differences between AMEX biz and biz credit cards that require business docs?


@Times wrote:

So I got the AMEX business prime card. I didn't need to submit any business docs for it. 

I notice other business cards sometimes require LLC documents or some other form of business verification. 


Is there a difference between the two?


I had kind of the opposite experience. I had lots of documentation when I was trying to get credit for a trust that owns and operates income  properties, but Amex wasn't set up to handle the application online because a trust isn't a corporation, LLC, partnership, or sole proprietorship. In what I think is the one case of actually bad customer service I've gotten from them in almost eight years of mostly excellent service, the specialist rep either gave up and hung up or got disconnected and didn't call me back.

 

I applied later online and said I was a sole proprietor in the real estate business and got an instant approval with no documentation.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 4 of 8
Citylights18
Valued Contributor

Re: Differences between AMEX biz and biz credit cards that require business docs?

I think the difference is AMEX is more open to Sole Proprietors than a typical bank. A consultant that travels for work and deducts their business expenses fits their profile. They aren't as concerned with verifying cash flow.

 

Chase for business is Chase. They don't want you burning and churning trifectas. My first Chase business app was relatively smooth, got the email about additional documentation, sent it in as was good to go. They got picky however over my second app saying my business was too new. My last app with them might have been for the Hyatt business card if I recall.

 

Many of the business bonuses are difficult to hit compared to consumer where you can just use a particular card as a daily driver for 3 months and normally get there for a $3000 or $4000 spend requirement in 3 months.

Official travel point totals as of 7/29/23 (1,264,664 Total Points)
Chase Ultimate Rewards 500,112 | IHG One Rewards 184,815 | Hilton Honors 143,801 | AMEX Membership Rewards 101,672 | World of Hyatt 90,413 | Marriott Bonvoy 84,039 | Citi Thank You 62,555 | Southwest Rapid Rewards 27,709 | United MileagePlus 13,316 | British Airways Avios 12,333 | Jet Blue TrueBlue 11,661 | NASA Platinum Rewards 1,883 | AA Advantage 1,744 | Navy Federal Rewards 792 | Delta Sky Miles 175 | Virgin Atlantic Virgin Points 100 | Discover CB 18,459 ($184.59)| Lowes Business Rewards 6,780 ($67.80) | Amazon Rewards 2,305 ($23.05)
Message 5 of 8
4sallypat
Valued Contributor

Re: Differences between AMEX biz and biz credit cards that require business docs?


@Citylights18 wrote:

I think the difference is AMEX is more open to Sole Proprietors than a typical bank. A consultant that travels for work and deducts their business expenses fits their profile. They aren't as concerned with verifying cash flow.

 

Chase for business is Chase. They don't want you burning and churning trifectas. My first Chase business app was relatively smooth, got the email about additional documentation, sent it in as was good to go. They got picky however over my second app saying my business was too new. My last app with them might have been for the Hyatt business card if I recall.

 

Many of the business bonuses are difficult to hit compared to consumer where you can just use a particular card as a daily driver for 3 months and normally get there for a $3000 or $4000 spend requirement in 3 months.


You are correct!

In all the 29 years I have been with Amex, they do support all businesses - small or large - sole prop or corp...

 

As for Chase, I must be on their blacklist or don't fit their ideal profile.

 

SUB is tougher for a sole prop - I had to turn down Amex Business Plat offer for 150K MR due to the $15K spend requirement.

Then to add another pain: turned down Amex Business Gold offer for 90K MR due to the $10K spend....

 

However, I am able to organically meet spend on the FNBO Business & Hawaiian Airlines Business cards.

Message 6 of 8
Anonymous
Not applicable

Re: Differences between AMEX biz and biz credit cards that require business docs?


@Times wrote:

So I got the AMEX business prime card. I didn't need to submit any business docs for it. 

I notice other business cards sometimes require LLC documents or some other form of business verification. 


Is there a difference between the two?

Like I think the AMEX business cards dont report to your personal credit unless you default or something. Do they report to personal if you miss payment or something

Do other business cards that require docs not report anything and strictly keep everything on business credit?


It's my experience that most business credit card approvals are largely based on your personal credit worthiness, especially if your business is verifiable i.e. exists on Experian business, D&B.  If the business is new, has very little established credit and/or personal credit meets the minimum approval threshold it could mean your SL is low, but still gets approved...

Message 7 of 8
wasCB14
Super Contributor

Re: Differences between AMEX biz and biz credit cards that require business docs?


@4sallypat wrote:

@Citylights18 wrote:

I think the difference is AMEX is more open to Sole Proprietors than a typical bank. A consultant that travels for work and deducts their business expenses fits their profile. They aren't as concerned with verifying cash flow.

 

Chase for business is Chase. They don't want you burning and churning trifectas. My first Chase business app was relatively smooth, got the email about additional documentation, sent it in as was good to go. They got picky however over my second app saying my business was too new. My last app with them might have been for the Hyatt business card if I recall.

 

Many of the business bonuses are difficult to hit compared to consumer where you can just use a particular card as a daily driver for 3 months and normally get there for a $3000 or $4000 spend requirement in 3 months.


You are correct!

In all the 29 years I have been with Amex, they do support all businesses - small or large - sole prop or corp...

 

As for Chase, I must be on their blacklist or don't fit their ideal profile.

 

SUB is tougher for a sole prop - I had to turn down Amex Business Plat offer for 150K MR due to the $15K spend requirement.

Then to add another pain: turned down Amex Business Gold offer for 90K MR due to the $10K spend....

 

However, I am able to organically meet spend on the FNBO Business & Hawaiian Airlines Business cards.


Larger businesses that aren't SPs may also be limited as to how many SUBs they can effectively get. You have to coordinate between the owner (wanting to use the miles), the purchaser (needing to know which card to use), and the accountant (paying the cards on time and keeping the books neat). Unless the business is small enough that one person does all those things, that can lead to complications and confusion.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 8 of 8
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