Amex application question

[red259]

If I have a professional practice so on the amex application would I select self-employed or go under the employed section and select professional? It seems like I would be penalized for saying self employed, since someone who is self employed can range from earning very little to very high. With the professional category I think its understood more clearly that my income is in a normal range. Any thoughts?

[enharu]

What do you mean?
There are people whom are self employed that are professionals as well. And why do you care if others are earning less or more? You have to input what industry/job you are in, and state your income.
So my question is, what are you concerned about again?

[09Lexie]

@enharu

+1

[ReaLiLJ]

I was going to write a essay, but the answer at the end of day still comes to No, it really doesn't matter. Credit score, risk level, credit history, types of credit, current credit lines, DTI, income (+ assets etc),  all that good stuff, (age sometimes) if you have a thin file, and reporting high amounts of income. Are the major things. I really don't believe that amex cares too much about the professional title as long as your being honest in that title, and not going to far away from your actual income. Because if an FR ever comes up and you reported something false you risk your relationship, current card, current limit, etc. Just put professional if you have a professional degree or are a professional athlete etc, don't put yourself at risk if you can't back it up; b/c if that time ever comes to reveal what that profession is/ verify the income. You will put yourself in a bad position. 

Bottom Line: If you have average income, just put employed and state your income.

If you want to put professional and think it will give you leeway in making them respect that income you stated, even though I feel they will anyway if your whole profile as a person to them looks that way, they will. Heck go for it. Goodluck in w.e. you do though! #Cheers -LJ

P.S. You won't be penalized

[red259]

Actually it doesn't ask me what industry I am in. I was just concerned about being flagged by the computer for further review, since self-employed can be a fairly broad category that seems like it would invite more questions than some of the other categories. In any event I would elect self-employed and if someone looks at the application it should be obvious from the company name the industry etc.

[enharu]

I think you are over-worrying. If you are self-employed, then you are. It's that simple. You could be running your own restaurant, or operating your own practice or firm, or you could just be working on your own. It's broad, but I don't see the problem with it.

It's always going to be broad most of the time anyhow. Even if you list yourself as a professional, there are professionals who make only 30k a year, while there are some that makes 7-8 digit income a year. See how broad it is as well?

If there needs to be a further review, so be it. Just be truthful and everything will be fine.

[bahbahd]

You should not put employed professional unless you are an employee of a partnership LLC, C-corp. or other corporation. If you are a sole-proprietor (even sole LLC), freelancing contractor or an independent consultant, then you are self-employed. Amex isn't going to care either way. I know many contractors that make well into the six figures.

Edited to distinguish between LLC types.