GM Business Card Denied, AMEX BBC Approved

[citymunky]

By mid week, one of my LLC's will be a year old, and I was looking to into opening another BIZ CC with 0% promo intro period of at least 12 months.

I thougth I would try my odds with the GM Biz Card by Marcus for a few reasons:

1) SP only with EQ or in some cased TU.

2) GM Biz doesn't report to your personnel CRAs

3) I have a personel HYSA with them, and a decend amount of funds in the account.

4) I was looking to open an account before Goldman Sachs sells their CC portfolio to other bank which would likely require a HP to open an account (Can't be in the garden club with a HP)

5) I was looking to expand my BIZ credit beyond AMEX, as I'm still over 5/24.

However GS had other plans for my BIZ;

Goldman Sachs Bank USA has reviewed your application and we're sorry to let you know that it was not approved because:

Insufficient Business Revenue for amount requested   Limited time in business

1.  My Biz is still growing and put down my biz made $20K,  with an estimated monthy spend of $500. (However I think the app is looking for gross revenue, and I was thinking net revenue after operating cost.
2. I know Marcus is known to deny apps for biz's least than a year old, but I didn't think a few days would make a difference as they only ask for the year the biz formed in the app.

While its not the news I was hoping for, the day wasn't a total loss as I approved for the AMEX Blue Business Cash for the same LLC with a SL of $10K. I'm surprised they started with a limit that high for my stated revenue of $20K.  My goal is to hit the SUB of $250 statement credit after spending $5K within the first 6 months. I'm not sure sure I can hit the additional $250 statement  after additional $10K or more in within the first year but we'll see. This would be the 2nd AMEX BIZ for this LLC (the other being AMEX Amazon BIZ Prime).

I would like to apply again for the GM Biz card, but this time as a Sole Prop soon. Any recommmend on time frame to wait before trying to reapp?

[CubanCheapSkate]

Sorry to hear about your decline. I had a similar experience as I have a personal account but was declined business account due to "Limited time in business". On the upside no hard pull on personal and can try again later as the business matures.

[SouthJamaica]

Congratulations on your approval for the Blue Business Cash card, a great card.  It's actually a blessing that you didn't get the other card, because you'd have been diluting the spend you need for the BBC signup bonus.

[cashorcharge]

WooHoo!! Congratulations on your AMEX Approval!!👏🏼🍾🥂