Finally, after calling for days, they told us this afternoon it was approved at $35,000. I want to call back and see if I can get them to increase to the full $50k (FICO was 775 with 1 inquiry). Oh joy! We were worried as we know this one is the hardest AMEX to get!
I don't know if it had to be that high. But we've been tweeking hubby's FICO (he owns the company and the account's PG'd him him alone) for quite some months so AMEX, Wells Fargo and other biz LOCs would have little reason to refuse him. I know hand full of others here have gotten the biz CapitalLine, but with lower limits. I know of one other person here with this same limit. But I know of lots and lots of others who had great scores and credit who got declined.
HOPE ,I have 5 amex cards and on my small biz dashboard capital biz line always comes up pre approved for me with the platinum card as another option is it that hard to get approved for???????? anyway hi again
yeah i got $32K on the capital line. It's got some restrictons on use "no personal items" but i don't know how close they watch that, doubtful to discern. Pretty boring card for the price,imo
Re: Re: Got AMEX Biz LOC! We were: 1. BT'ing and paying off balances to improve our ratios 2. Watching the CC close vs. post dates to be sure big charges wouldn't hit until after balances were reported to the CRAs 3. Disputing non-PP nquiries 4. Keeping balances low (this often entailed checking the date as we headed out the door to conduct every affairs to decide which credit card(s) to use!! At first, that was quite an annoyance for Hubby. But now he regularly asks me, "which CC do you want me to use today?" Teehee!!) 5. Asking for limit increases without inquiries; and/or situating our activity profile so that we'd get auto-increases You get the idea.
Re: Re: Got AMEX Biz LOC! We only need the line for business so that's not a problem. But it doesn matter as we don't write checks to third parties from the biz LOCs. Instead we write the checks to our company and deposit it into our biz checking accounts; then use the funds for to write checks for whatever.
Re: Re: Got AMEX Biz LOC! Yeah we have one personal optima for 2 years and we get those dashboard offers all the time. But lots and lots of folks here can tell you that they've been denied the biz Capital Line, but instead for AMEX Gold or Delta Skymiles or whatever. I've read here and heard from AMEX CSRs that this is their hardest line to get, as well.
Re: Re: Got AMEX Biz LOC! Hope, didn't I read a thread that you guys got a wf loc too or just that you applied? Do you mind sharing what biz credit you guys have acquired?
