My husband is a trucker owner/operator. He went into business with his dad 11/2 years ago. His father took care of the books only. My husband was the sole income earner. My husband's credit was not so good at the time since we had lost our home & possessions to a fire. It created alot of problems, one being trouble paying our bills. However, our attorney is currently working on removing these negative entries. To the point, my father-ion-law obtained a small business credit card from American Express with him being the primary cardholder. We recently bought our father-in-law and he asked that we transfer the card into my husband's name. The bills were paid in full every month on time for 11/2 years. However, American Express will not transfer the card to my husband or give him a new account for the business. Is there anything that we can do? We are not a credit risk. Do you know of any banks willing to issue a corporate credit card with a credit availibilty of at least $10,000. Any help with this matter will be greatly appreciated.
RE: American Express for small The new accounts department @ AmEx (1-800-962-7227) is good @ helping you out. You can ask to speak to a supervisor and they can override decisions made by the computer or any one else for that matter. I haven't done this personally but my daughter-in-law did and found the supervisor to be extremely helpful and after she was given the opportunity to explain her situation, the supervisor approved her on the spot. They're human, too...they understand...sometimes....
RE: American Express for small CreditWorks, LLC has a line of over $15,000 from Advanta. If Amex does not come through, give them a shot. We are pleased with their service. Profit from the experience. http://www.creditsense.com
RE: American Express for small You can also apply for the secured Optima card for businesses if you want the card, and can put $500.00 in an account. Another option is to have the card transfered into your names with your father in law only co signing the account in case of default.
RE: American Express for small Almost all small business credit cards (AMEX, Advanta, US Bank and Pitney Bowes) require a business officer to be personally liable for the business debt. What this means is that they underwrite the credit based on the business owners personal credit. With past "personal" credit problems most lenders will be hesitant to issue business credit. Since an account with a positive history already exists with AMEX they are probably your best bet.
