Business credit cards, what you got? Amex is pissing me off.

[johnysc430]

Not to derail the thread but I've incorporated my biz in the middle of '09 and have still not been able to get approved for any credit. Personal credit is spotless and I own multiple credit cards with limits of 10k in my name, but when I apply for my business I am always rejected with "No Credit History." even though I put myself down as a guarantor in the applications. Got a credit report and everything is spotless with an 800 credit score from the 3 agencies. No credit history on my business = no credit given, meaning it's a cycle of bullshit. Suggestions welcome.

definitely get a number with D&B,
most businesses have a duns number but you have to pay them $300 to get a profile with them. Or else you have no file.

Also speak to your business banker they may be able to give you a secured credit line. That's secured by cash balance. This will give you the corporate credit you need.

 

[Subwoofer]

gotta have that 100 paydex

 

[TylerDurden]

^^ elaborate?

I opened an online checking and savings account and got a credit card through Washington Mutual to use for all of my business transactions. I had a 5% savings rate, no fees, etc. It was awesome. Then Chase took over lowered my credit limit, raised my APR, and eliminated my savings rate. Not to mention they started charging me fees out the ass.

 

[Spendlessly]

Just wanted to chime in with one comment.

Outside of the fact that we're lucky enough to have the 2%, these guys go to BAT on disputes. If you ever have to dispute a charge with AMEX you'll quickly realize why they are the shit. We had a myspace campaign with a budget set to spend evenly throughout the month, that ended up burning about $8K in about an hour.

ME: Need chargeback
AMEX: Will investigate
MYSPACE: Derp
AMEX: chargeback granted

 

[eliquid]

^^ did myspace let you keep your ad account after that?

 

[Cosmo]

Depending on your tax bracket, cash back is a horrible option if your on the higher end bracket.

I generally use my points for other things then the cash back because of the taxes involved and with Chase biz it should be 4 points for every $1 you spend with internet purchases ( like advertising and hosting/domains, etc ). Those points can then be redeemed for other things you might want, like travel or gifts.

How are you getting 4 points? I think I'm only getting 1-2! That's with a Chase ink biz card tied directly to my bank account.

 

[eliquid]

Im getting 4

 

[eliquid]

4 point is for internet purchases, rest is like 1-2

 

[eliquid]

actually, i think this year they did make it now default 1-2 points... i'll have to check, but I know for a fact I got 4 points for every $1 spent because I had 4 cards with them ( 4 accounts ) that all got 1 million points each on them and I had to use them up because that was the max per card

 

[Fiver]

Anyone here use Plum card?

Is it true there is no spending limit on it?

 

[Unarmed Gunman]

Anyone here use Plum card?

Is it true there is no spending limit on it?

Love my Plum card. I have never reached a spending limit but anytime I make a large purchase ($20k+) I just call them and tell them so it goes through. I've heard of unofficial spending limits on it but it probably is dependent on credit score and account history. I have 800+ scores and I've had a green AMEX for 10 years so it might be different on new accounts.

Last year my car broke down in the mountains of central Pennsylvania at 2 am. Wasn't sure what to do so I called the number on the back of the Plum Card and they had a tow truck and cab out there in 45 minutes to take me to the nearest Hampton Inn - no charge. Pretty bad ass.

 

[heavyt]

Well got the denial letter again from amex, we'll see if my chase ink card comes.

 

[Fiver]

Just wanted to chime in with one comment.

Outside of the fact that we're lucky enough to have the 2%, these guys go to BAT on disputes. If you ever have to dispute a charge with AMEX you'll quickly realize why they are the shit. We had a myspace campaign with a budget set to spend evenly throughout the month, that ended up burning about $8K in about an hour.

ME: Need chargeback
AMEX: Will investigate
MYSPACE: Derp
AMEX: chargeback granted

I wanna hear what you said to them when they asked you WHY you needed the chargeback. Are you a heavy hitter for them because I can't see AMEX handing out 8k refunds to every average Joe who wants to be reimbursed for making a mental mistake.

 

[cheshire]

I wanna hear what you said to them when they asked you WHY you needed the chargeback. Are you a heavy hitter for them because I can't see AMEX handing out 8k refunds to every average Joe who wants to be reimbursed for making a mental mistake.

"Every average Joe" doesn't have an Amex.

 

[pushchris]

amex has been pretty good with me tbh - never had any trouble with them...

 

[miketpowell]

Well got the denial letter again from amex, we'll see if my chase ink card comes.

That sucks, good luck with Chase.

You aren't alone in amex pissing you off... they told us we were approved on the phone then sent us a letter 10 days later denying us.

I had an amex card long ago but they didn't like me running up a balance and paying it off so they demanded business records from before my business was even started. They didn't buy the "I just want rewards I'll prepay you for everything don't shut me down!" and shut me down since I didn't have the records there computer system wanted.

Edit: Amex is bad ass at protecting it's clients and doing well by them, I wish they'd let us back on.

 

[eliquid]

Who have you gone with Mike if not Amex.

I still stand by Chase, which is who I use, although I know Citibank has higher limits as well.

 

[CarpeDiem]

I'm a Ink Bold Card and Amex Platinum holder and I must say, both cards have its perks. I actually think Chase Ink Bold has better service than the Amex Platinum. The other day, I needed a Locksmith to rekey my condo. I decided to call both concierges and Bold's service was slightly better.

Both have no pre-set limit but I asked my Bold representative and she told me it was actually at 50K. However, she told me I can call in if I needed to make a big purchase and they'll let it go through manually.


I want to note that I hate Personal Chase cards. I used to use the Chase Freedom (personal card) and it was the worst experience ever. Call center/Service were terrible. I tried doing a chargeback on my personal card (6K) and they made a living hell out of it. On the Ink Bold, I did a chargeback (10K+) and it went through without any questions or any signatures from me. Chargebacks on the Amex cards are a breeze as well.

Ink Bold + Amex Platinum/Plum = All you need in your wallet.

My partner and I have blogged about the differences in the two cards, you guys can check it out at http://blog.secantmedia.com/.

I want to add, Citibank cards are pretty good too because they allow you to create virtual credit card numbers. Very handy for obvious reasons.