Can you convert your Gold Amex to business gold card without it taking a hit on your credit? Anyone done this before? Or is it even possible?
Thank you to anyone that can shine light...
I did find out you can NOT upgrade your normal Gold to a Business Gold. You must complete an application. I did just receive a conformation telling me I'm pre-approved. Now, this isn't 100% correct that you would be approved, correct? I like the Gold business for the fact if I needed to pay over time on a larger business purchase I can make payments rather than paying in full.
Anyone use this cards and like or dislike it?
I logged into my Amex account and had this bold text message "Congratulations! You are invited to apply for the American Business Gold Card. I already have a Gold Amex and a Blue preffered Amex.
My question is this... Is this an approval or do I still have to go through the process? I am in the process of starting a new business not sure how they would know that. I don't have the business license just yet as we are doing the build out at the location nor the business license just yet. This is a new start-up.
With that said... it ask what your annual income is. I haven't made a dime just yet. I'm also a sole owner with no investors nor partners. I do make $123,000.
What do you do when it comes to the income? 0- or the $123,000 it's a little confusing. I don't even know the name of my business yet. We are working on that too.
Might be a good idea to put your predicted business income instead of your personal income. I'm sure others can have much more solid experiences.
I had the same offer in December which was weird because I only had one existing credit card and was approved earlier that morning for an Amex Everyday card. I couldn't really justify the annual fee for the Gold, so I decided to apply for the Business Blue Simply Cash. I had been running a small (very small) business for a decade but never really though about a business card until I saw the pre-qual.
Anyway, in the app I put down the amount of business income at $2k and was instant approved for that amount. I think I could have gotten more but I didn't want to push it.
As you found, cannot product change across personal vs small business.
Please do the math on rewards structure vs annual fee.
For many people the Amex SimplyCash Plus may be a better card.
Yes, we are doing the build out and do not have the exact name for the business just yet. We have a few names that we are bouncing around.
It will be at least 60 days before build out is completed. Not having a business license is not required until move in date. Most likely I'll be doing a LLC. Of course this will be completed prior to soft opening.