Post a new topic
    4 Replies Latest reply on Aug 30, 2009 8:08 PM by amspcs

    How can I get an American Express ?

    Laughing.Stok Newbie
      I took over the business from my father. We do several million a year. I run the whole biz on cash, I have plenty of cash on hand, but I figure I should get some credit going just in case we need to expand. My personal credit score is such that I have been declined for credit cards even when applying under the guise of the business. I have several hundred thousand in the bank and they won't give me a credit card. I think I'm a safe bet now!

      How do I get an AmEx card? I tried calling them and telling them my story, didn't help.

      Thanks
        • Re: How can I get an American Express ?
          rencmbs.vate1 Wayfarer
          you can try to get a secured card, then as they trust you more, your credit score will go up, then next year you can re-apply to, amex
          • Re: How can I get an American Express ?
            DomainDiva Ranger
            You need to re build your credit. Get a cash secured card and start there. AMEX or Citi will not touch anyone these days with credit history issues even with money in the bank.
            • Re: How can I get an American Express ?
              phanio Pioneer
              As stated - get a secured card. Take some cash - set it aside in an interest bearing account - then use that account to secure your card. Work hard to use the card and pay it off immediately. In 6 months or so, try (with the same company) to get an unsecured card. In the mean time - go down to your local office supply stores and apply for their credit cards or lines - this will show up on your credit and help you in the long run with new credit lines.

              You might also try joining costco - when you join, they may offer you an AMEX (they partner together) - might be easier to get being a member of the partner costco.

              Most all credit card companies will pull your personal credit - they usually don't pull D&B and don't report to D&B - so, work on improving your personal credit history.

              Business Money Today
              www.BusinessMoneyToday.com
              • Re: How can I get an American Express ?
                amspcs Ranger
                Several folks have suggested you get an Amex pre-paid card. I don't believe there is such a thing.
                Visa and MC have pre-paid cards, but Amex is a totally different animal.

                The simple and only solution to your problem is: You need to improve your credit...period the end.
                Unfnortunately this isn't an overnight process, may take years. Many people complain about
                the problems their poor credit has caused them. While I feel sorry for them, the truth is that these people should have considered the consequences of poor credit when they were doing whatever they did to ruin their credit. Yes, some bad credit for some people is unavoidable and strictly speaking not their fault--for example, those who have suffered through catastrophic illness or job loss. But the vast major of people of people with poor credit arrived there via irresponsible financial habits.

                "Telling your story" to Amex is a waste of time---they don't care about your story because everybody 'has a story.'. Bad credit to them means they're looking at a person who doesn't pay his/her bills, and that's all they care about, rightfully so. And having lots of money in the bank doesn't make a bit of difference. They realize one of the ways some people accumulate lots of money in the bank is by not paying their bills.