Greetings All!
I have been trying to build my relationship with AMEX since I got my first card October 2019. I have some huge business balances on other cards and was looking for a BT card until I freed up some money. Chase gave me some crazy business limits but by the time I applied for AMEX BBP they only gave me a $4,000 SL. I was disappointed but hopeful that I could get a CLI with enough time to still put a nice BT on it before the time limit expires. So I wait the 61 days and ask for 3X my current limit...DENIED. Reason being existing balances too high and the account being too new with AMEX. So now I'm putting extensive spend on this card and paying it off. One month I put $14K on the card and paid it off (I love that you can spend above your limit on this card btw). I just knew that after another 90 days with the spend I'm putting on here I would surely get some type of increase. I called in a few times and the CSR told me that I was prequalified for the Platinum one time...then the Gold another time. Recently I applied for a CLI on my BBP and DENIED again. Same reasons. They had my credit score at 723 but still saying my account is too new.
My question is... do you think I could still get a personal AMEX card despite all this going on with my business card. I'm trying to build a relationship with AMEX but do you think I should just hold off. Would it be another inquiry or would they just use my current score since I already have a card with them? I checked the prequalification site and it said they have nothing to offer at this time.
What are your thoughts?
@TG10X wrote:I have some huge business balances on other cards and was looking for a BT card until I freed up some money.
So now I'm putting extensive spend on this card and paying it off. One month I put $14K on the card and paid it off (I love that you can spend above your limit on this card btw).
Good detail provided with your question... in my humble opinion what stands out is likely something you already answered: Large balances on your other possibly business related cards. I don't see any other solution out of the gate other than paying those down before attempting anything more, as Amex appears to have already dropped that hint in the reasons provided to you.
On a side note, the part that perplexed me was spending $14k on the card and immediately paying that off but still maintaining the large balance elsewhere. I'd recommend focusing most of the spend on paying down the large balance and minimal usage on that Amex until they all come down. Fix the utilization concern and likely things will improve 10-fold with Amex 
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@Cred4All wrote:
@TG10X wrote:I have some huge business balances on other cards and was looking for a BT card until I freed up some money.
So now I'm putting extensive spend on this card and paying it off. One month I put $14K on the card and paid it off (I love that you can spend above your limit on this card btw).
Good detail provided with your question... in my humble opinion what stands out is likely something you already answered: Large balances on your other possibly business related cards. I don't see any other solution out of the gate other than paying those down before attempting anything more, as Amex appears to have already dropped that hint in the reasons provided to you.
On a side note, the part that perplexed me was spending $14k on the card and immediately paying that off but still maintaining the large balance elsewhere. I'd recommend focusing most of the spend on paying down the large balance and minimal usage on that Amex until they all come down. Fix the utilization concern and likely things will improve 10-fold with Amex
I appreciate your feedback!
I guess I felt like maybe they couldn't see the total business balance since I know it doesn't show for personal lol. But now I'm back to reality. I'm in the real estate business and had a large construction project go awry and kind of left me holding the bag smh. The way I'm able to spend large amounts like that is by staying within the budget on other projects and using my card for expenses and materials. Whatever I buy I pay off at the end of the month. I'm fighting my way out of a hole right now..even went and got a job lol. Just going to have to tough it out until I get on the other side. I'm trying to expand my personal limits so that I can take on larger projects that will allow me to work my way out of the hole.
I might just garden AMEX until I have that business balance to a respectable amount. The best thing about real estate is that you can be back in the fight with a little hustle!
@Anonymous wrote:Since you're already an American Express member there is an alternative way to check for pre-approvals.
Login to you Amex account and navigate to Menu > Cards > View All Credit Cards.
Click on "Apply Now" for the card(s) you're interested in. If the screen shows a banner saying "TG10X, You're Pre-Approved" you can feel free to apply. If the screen shows "Applying to expand your membership with us is easy" you're not pre--approved. Just simply hit your browser's Back button to leave each card you check.
Wow! I never knew you could do that. Thanks for the insight!
I just tried and definitely got the "Apply to expand your membership..." message. Do you think I should wait on a pre-approval? or do you think I could still be approved since my personal profile is strong?
Also, in your experience, do you get SP or HP when you get another AMEX card?
@Creditaddict wrote:Once you are a cardholder, Amex will never do HP again.
Doesn't hurt to apply if you want more cards.
Thank You
@Anonymous wrote:Never say never, as this site has the DP's frome a few memeber that a HP can and does happen. YMMV
I will definitely keep that in mind and have some room for error. I definitely don't want to lose sight of the bigger picture.