Amex New card, while waiting for CLI??

[Anonymous]

Let me start by saying I am in need for an amex with a fairly large limit for business.

I have a $4500 CL but need 20K at the least!  I cannot request a cli untill late December, I was denied a while ago screwing around on their site and hit the luv button out of curiousity( before I joined this site and didn't know better) So I must wait the 90 days.

I was wondering since I do have an account there, and from what I am told they do Multiple SP's monthly, and a CLI= SP.

Instead of waiting, just appling for a new card.

I have the Amex Everyday card, and All 3 of my ficos are showing 702-720. Which is WAY! up from when I first got their card as well as from when I requested the CLI a month or so ago!

Is applying for a new card smart, would they SP just as if it were a CLI, or HP.

Also which card should I apply for if so?? Cashback would only interest me as milage is paid for, If I travel usually!

THANKS in advance!!

[js0319]

Have you looked into the Amex Business charge cards - like the Gold or Platinum? They give you the ability to charge large amounts, as long as you can PIF. Also, is this your own personal business? 

[uswala]

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@Anonymous wrote:

Let me start by saying I am in need for an amex with a fairly large limit for business.

I have a $4500 CL but need 20K at the least!  I cannot request a cli untill late December, I was denied a while ago screwing around on their site and hit the luv button out of curiousity( before I joined this site and didn't know better) So I must wait the 90 days.

I was wondering since I do have an account there, and from what I am told they do Multiple SP's monthly, and a CLI= SP.

Instead of waiting, just appling for a new card.

I have the Amex Everyday card, and All 3 of my ficos are showing 702-720. Which is WAY! up from when I first got their card as well as from when I requested the CLI a month or so ago!

Is applying for a new card smart, would they SP just as if it were a CLI, or HP.

Also which card should I apply for if so?? Cashback would only interest me as milage is paid for, If I travel usually!

THANKS in advance!!

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IMO new card application is always a HP.

[Anonymous]

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@js0319 wrote:

Have you looked into the Amex Business charge cards - like the Gold or Platinum? They give you the ability to charge large amounts, as long as you can PIF. Also, is this your own personal business? 

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This is what I would recommend, a charge card. There is no way to tell what limit they would give you off the bat on a credit card. If they gave you a $4500 card a few months ago, I'd be hard pressed to believe they'd turn around and now give you 20k+. If you are denied while being a current cardholder, its usually a soft pull, if approved its a hard pull.

[uswala]

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@Anonymous wrote:

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@js0319 wrote:

Have you looked into the Amex Business charge cards - like the Gold or Platinum? They give you the ability to charge large amounts, as long as you can PIF. Also, is this your own personal business? 

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This is what I would recommend, a charge card. There is no way to tell what limit they would give you off the bat on a credit card. If they gave you a $4500 card a few months ago, I'd be hard pressed to believe they'd turn around and now give you 20k+. If you are denied while being a current cardholder, its usually a soft pull, if approved its a hard pull.

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Are you sure it works like that with Amex? I was not aware of this.

[Anonymous]

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@uswala wrote:

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@Anonymous wrote:

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@js0319 wrote:

Have you looked into the Amex Business charge cards - like the Gold or Platinum? They give you the ability to charge large amounts, as long as you can PIF. Also, is this your own personal business? 

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This is what I would recommend, a charge card. There is no way to tell what limit they would give you off the bat on a credit card. If they gave you a $4500 card a few months ago, I'd be hard pressed to believe they'd turn around and now give you 20k+. If you are denied while being a current cardholder, its usually a soft pull, if approved its a hard pull.

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Are you sure it works like that with Amex? I was not aware of this.

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Its usually how it works. They can obviously HP you if they want, but most people (including me) report this.

[Anonymous]

Yes my own business with a partner, we have EIN and all neccesary filings for them.. Just need about 20K and charge card is FINE as we would ONLY use for product and prodcut returns little over 200% On average and turn over in a weeks time+ we have reserves of double that amount incase! When applying ti only asks for one persons SS number... just choose who has better credit.. seems like this can get complicated...

[Anonymous]

Well good enws I took your advice and we got approved for a AMex gold card ( no limit) 60 day pay period to be PIF. Which is Awesome and more than we could have asked for! I have ONE more question that may be VERY good for me, or may not be.

The card which is in our business name, BUT used her social S#.

Would my Creditbenefit from having this charge card on it, It would be PIF each month with 20-30K going on it monthly.

I can always add me as an AU since I have access but we both have our own card all of the business is in both of our names etc..

Will the charge card help or hurt??

THANKS!

[Anonymous]

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@Anonymous wrote:

Well good enws I took your advice and we got approved for a AMex gold card ( no limit) 60 day pay period to be PIF. Which is Awesome and more than we could have asked for! I have ONE more question that may be VERY good for me, or may not be.

The card which is in our business name, BUT used her social S#.

Would my Creditbenefit from having this charge card on it, It would be PIF each month with 20-30K going on it monthly.

I can always add me as an AU since I have access but we both have our own card all of the business is in both of our names etc..

Will the charge card help or hurt??

THANKS!

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Congrats on the new card. Just so you know, it isn't a "no limit" card. There is no preset spending limit. AMEX can and will decline any charge they deem they have to. They have alrogithms that decide how much they will allow you to spend in a given time period. This number often changes with your spending habits. Just letting you know this so you don't try to put 20k on it and get declined automatically. 

[coldnmn]

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@uswala wrote:

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@Anonymous wrote:

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@js0319 wrote:

Have you looked into the Amex Business charge cards - like the Gold or Platinum? They give you the ability to charge large amounts, as long as you can PIF. Also, is this your own personal business? 

---

This is what I would recommend, a charge card. There is no way to tell what limit they would give you off the bat on a credit card. If they gave you a $4500 card a few months ago, I'd be hard pressed to believe they'd turn around and now give you 20k+. If you are denied while being a current cardholder, its usually a soft pull, if approved its a hard pull.

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Are you sure it works like that with Amex? I was not aware of this.

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99% of the time