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I jumped the gun!

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Regular Contributor

I jumped the gun!

I’m looking to establish credit for my small business. Read that the charge cards are semi easy to get for business so 5 minutes after reading that reply I applied and was approved. Now, thinking...I should’ve applied for the blue business plus. What are the odds of AMEX switching it over from the platinum to the plus? If they’re not able to, should I apply for the plus in the next couple days? I’m looking for a few cards, mainly for diesel but in the next month will be purchasing a trailer

Message 1 of 11
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Established Contributor

Re: I jumped the gun!

You can not change the Platinum to the BBP. You’d have to simply apply for it. 

 

To to be honest, you probably applied for the worst card in your situation. The Platinum is really not a good card for daily spend. It’s a card meant for travel perks that comes with a hefty AF. Recouping the value of that AF is impossible to do if you don’t travel (including flying) often.  

 

Personal Credit -
AMEX: Platinum, Green, Blue Cash Preferred, Schwab Investor
PNC: Cash Rewards, Points
NFCU: Flaghship Rewards, Cash Rewards, More Rewards, CLOC
PSECU: Founders
BB&T: Spectrum Cash Rewards
CapOne: Quicksilver
Discover: IT Chrome, IT
Synchrony: PayPal 2%, PayPal Credit
Barclays: Uber
PenFed: Power Cash Rewards
Store Cards: Target
AU Cards: Citi Rewards+

Business Credit-
AMEX: Delta Gold, Amazon Prime, Simply Cash Plus
Message 2 of 11
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Regular Contributor

Re: I jumped the gun!

Yep, thanks for reminding me. My business consist of being on the road half the day. It’s possible I’ll be using it for hotel stays but only a handful of times. I’ll apply for the blue business plus and keep my fingers crossed. I was considering using the platinum to make a purchase to get the rewards then possible close the acct but I’m sure that’s not a good look.

Message 3 of 11
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Frequent Contributor

Re: I jumped the gun!

The goo news for you is as the Plat is a charge card and the BBP is a revolver, you can easily apply for the BBP and while never guaranteed I say the odds are in your favor to get approved. You can app for 2 revolvers within 5 days of each other and in theory unlimited charge cards. Just no more then 2 revolvers within 90 days. So go for it should be all SPs from here on out.

Message 4 of 11
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Regular Contributor

Re: I jumped the gun!

I got approved for the BBP with a whopping $2,000 SL. I tried to see if the representative could somehow increase it to atleast $4,000 but stated it was up to the system. I’m surprised they would start me that low but I’ll have to work with it for now.

Message 5 of 11
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Legendary Contributor

Re: I jumped the gun!


@Procharged392 wrote:
I got approved for the BBP with a whopping $2,000 SL. I tried to see if the representative could somehow increase it to atleast $4,000 but stated it was up to the system. I’m surprised they would start me that low but I’ll have to work with it for now.

you can try once you activate the physical card or after 61 days... some can do it right away, some have to wait.

Message 6 of 11
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Frequent Contributor

Re: I jumped the gun!

I app'd for the BBP and Amazon Prime within a week and the Amazon card was 2k lower than my BBP SL, but like creditaddict said, you can always request a CLI after a couple of months of use.

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Established Contributor

Re: I jumped the gun!

I use my biz gold for most business spend. While there may be better cards for rewards, they don't give me the ability to spend 200k in a billing cycle like amex does. So definitely keep that in mind.
2019 Spend Summary
$944,008 Amex BRG
$91,953 Amex SC
$58,351 Discover It
$50,046 BofA CR
$36,146 Amex PRG
$6,774 Cap1 QS
$963 Amex CM

$1,188,241 Yearly Spend
Message 8 of 11
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Regular Contributor

Re: I jumped the gun!

Requested a CLI and got the 7-10 day message

Message 9 of 11
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Moderator

Re: I jumped the gun!


@Procharged392 wrote:
Requested a CLI and got the 7-10 day message

That's typically a decline, unfortunately.   Just give it time and try again at the next CLI opportunity.

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