“The most common reason we see business owners and startup founders being denied credit is having little to no existing credit history,” says Dubugras. “I called in and explained the situation, and they reconsidered and manually approved me,” she says. The Fair Credit Reporting Act allows you to request a free copy of your credit report if you’ve been denied credit. “Credit card issuers will be looking at your history of payments and will take into consideration what type of delinquency and how long ago the delinquency was,” says Linden. CreditCards.com does not include the entire universe of available financial or credit offers. Just remember to keep track of what you’re charging so you’re not putting too much strain on your business cash flow. If you’re denied for a business card, don’t write off getting approved for one altogether without first taking these steps. “Cash or equity in a business can be overlooked, relative operating history and revenue, even though cash and equity are the best indicators of ability to pay,” says Dubugras. Business credit cards can also be easier to qualify for than, say, a business loan. Keep an eye on your inbox—we’ll be sending over your first message soon. However, over the last few months, I’ve had my first issue with an American Express denial. This is an automated fraud-prevention feature that Amex uses and it will usually apply whether you’re applying for personal or business credit cards. Credit Cards. A recent delinquency on your personal or business credit can work against you when applying for a card, says Carlee Linden, who authors the business loan blog for consumer comparison site BestCompany.com. The annual fee for the Corporate Platinum Card is $395. Annual fee to enroll a Corporate Card in the Membership Rewards program is $90. The annual fee for the American Express Corporate Green Card is $55. Share positive reasons why you should be approved. Ive been a cardholder since 83. The American Express ® Corporate Card provides easy expense management and exemplary service to help you do business. If you have requested either a line of credit increase or a balance transfer on an existing American Express card account, please call the number on the back of your card regarding the status of those requests. “We were a startup insurance agency, so we really had no financials to share,” says Mitchell. See “6 ways to maintain a good business credit score” to learn more. Get essential reads every week with our newsletter. “At the end of the day, business debt is still your debt,” says Mitchell. American Express limits customers to have a total of 5 Amex credit cards open at any one time. The offers that appear on this site are from companies from which CreditCards.com receives compensation. American Express Credit Cards Card Limits. Personal Loans Home Loans Auto Loans. I was denied a company credit card by American Express because of a past charge off that is no longer on my credit report. But once that period ends, American Express will report the delinquency to the credit … You can put our customised Corporate Card programmes to work for your Company, and benefit from our rewards system, services and tools. While we are working to provide you with the most up to date information on our Global Lounge Collection partners’ lounges, should you find any inaccurate information, we encourage you to let us know by emailing us at support@loungebuddy.americanexpress.com and we will update the information as quickly as possible. Once you receive it, check for negative marks or errors that might be dragging your credit score down. Reasonable efforts are made Access Key * E-mail address * (We will use this e-mail address to send you your Application Tracking Number required for accessing your saved or completed Application) Submit Clear . 1.Review your personal and business credit reports. to maintain accurate information. Check American Express Card Application Status by Telephone: You can also check your American Express application status by telephone: Call 1-866-314-0237 or 800-567-1083 and enter the last 4 digits of your SSN and zip code. It has not been provided or commissioned by the credit card issuers. “We became more attractive to credit card companies because we paid our balance in full and on time each month. You can request a copy of your credit report to help you resolve any inaccuracies. If your application for a Card was declined, you should have received a letter from us letting you know the reasons for the decline. If your Card application was declined, we realize this may not have been the outcome you had hoped for. Based on anecdotal evidence it seems that Chase has tightened lending on small business credit card applications. The annual fee for the Executive Corporate Card is $100. Send a reconsideration letter to the appropriate office. By providing my email address, I agree to CreditCards.com’s The American Express ® Corporate Card Program is used and relied upon by the world’s leading businesses as their preferred expense management solution. Shop Credit Cards Balance Transfer Cards Reward Cards Travel Cards Cash Back Cards 0% APR Cards Business Cards Cards for Bad Credit Cards for Fair Credit Secured Cards Search Credit Cards. Tip: Dun & Bradstreet Paydex Score and Experian Intelliscore Plus are two of the most commonly used business credit scoring models. I have also found the credit analysts to be the most lenient at Amex vs. the other big banks. That tactic worked for Caprio. Call the American Express Reconsideration Line. Applying for multiple cards within a short span of time could also be a red flag to card issuers. If you’re denied for a business card, don’t write off getting approved for one altogether without first taking these steps. There are a lot of attractive rewards credit cards available. The Fair Credit Reporting Act allows you to request a free copy of your credit report if you’ve been denied credit. What to do if you’ve been denied for business credit. This functionality is designed to assist large and mid-sized clients in streamlining the application process for Corporate Cards and Corporate Purchasing Cards. Amex also issues a range of cobranded small-business credit cards. It’s not just bigger things that can trip you up when applying for business credit either. If this has happened to you, don’t worry about it too much. You can also visit our Consumer Resources page to learn more about credit scores and reports. Apply online quickly and easily. If your application for a Card was declined, you should have received a letter from us letting you know the reasons for the decline. We started the corporate card program in 2011 and all of our cards state 2011 as the membership date. The offers that appear on this site are from companies from which CreditCards.com receives compensation. Only the American Express ® Corporate Green Card, American Express ® Corporate Gold Card, and Corporate Platinum Card ® from American Express are eligible to enroll in the Corporate Membership Rewards program. After a couple [of] years of steady cash flow, growth and paying on time. You can also call us at 1-800-567-1083, and one of our Customer Care Professionals can provide any additional information that they may have. Enrollment in the Corporate Membership Rewards program is required. See the online credit card applications for details about the terms and conditions of an offer. All users of our online services are subject to our Privacy Statement and agree to be bound by the Terms of Service. Entering your income incorrectly when you apply or not providing any supporting documentation the credit card company asks for could land your application in the discard pile. Five Amex credit cards total This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Advertiser Disclosure, by Best for senior executives and seasoned travelers seeking premium services & privileges. If we considered information from the credit bureaus in our decision, the letter lists the credit bureaus that provided us with the information. American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum Please review. Nevertheless, scoring one of these top cards usually requires a good to excellent credit score (above 670).. For those worried about meeting these requirements, it can seem too risky to apply for a card and risk rejection alongside a hard pull to your credit. Also, some people have been able to get around this rule in the past. Our representative will get in touch with you shortly. American Express has several solutions that can help you manage the corporate T&E expenses for your organization. If you’ve applied for a business credit card and been declined, here’s what to do next. Reap the benefits of Card Membership while paying for virtually all business expenses ranging from travel, hotel, and restaurants to couriers, office supplies and phone bills. Access Your American Express Corporate Card Application Please provide the below information to access your Application. Negative credit history can be just as damaging as no credit history. Compare American Express credit cards. When you click on Corporate Cards are eligible for enrollment in the Membership Rewards ® ‡ program, where you can redeem points toward travel and entertainment.. American Express offers world-class Charge and Credit Cards, Gift Cards, Rewards, Travel, Personal Savings, Business Services, Insurance and more. And as a small business owner, it can be very frustrating to be denied for small business credit card. All Rights Reserved. View All Business Credit Cards; Most Popular Business Credit Cards; Travel Business Credit Cards; ... Business Loans; American Express Go; vPayment; FX International Payments; Merchants. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. For questions about your credit report, or if you believe the information that we received from the credit bureaus is incorrect, we recommend you contact the credit bureau directly. My application for a Card was declined for reasons I don't understand. © 2020 American Express. the "Apply Now" button, you can review the credit card terms and conditions on the issuer's web site. Denied or Decision Still Pending? “I was personally turned down for a business credit card because I had applied for a personal credit card from the same company in the same six-month period,” says Stacy Caprio, marketing strategist and serial entrepreneur. Credit Scores and Reports First you need to understand why you were denied. However, you may not always be a lock for a business card. The American Express Business Cards are difficult to get approved for. By providing my email address, I agree to CreditCards.com’s Again, this does not apply to charge cards but only credit cards. “So, in this situation, it’s helpful to focus on these.”, See related:Reconsideration lines offer a second chance at credit card approval. American Express | Membership Rewards - Got denied for Amex because of too many inquires - Hi, I got denied for the Amex gold delta skymiles card and one of the reasons stated was too many hard inquires in my credit report. If you see an error, take action to dispute it. This includes both personal credit cards and business credit cards but does not apply to their charge cards.. His business charges around $20,000 per month to the card, allowing him to accumulate rewards quickly and easily justify the $450 annual fee. Or you could opt for The Blue Business® Plus Credit Card from American Express which has no annual fee (see rates and fees) and earns 2x Membership Rewards points on every purchase on the first $50,000 spent on eligible purchases each calendar year, then 1x. In addition to focusing on business growth and improving your personal credit, take care of your business credit as well. Privacy Policy. Frequently Asked Questions (FAQs) American Express offers a range of Small Business Cards to help your business grow. A secured business card can offer purchasing power when you can’t land a traditional business credit card. Privacy Policy, Essential news and expert tips in your inbox every week. “The most common reason we see business owners and startup founders. Other factors, such as our proprietary website's rules and the likelihood of applicants' credit approval also impact how and where products appear on the site. CreditCards.com credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. “If you have no credit and no other option, secured cards are typically a solid choice,” says Dubugras. There are several things that can lead a credit card company to deny your application for a business card. “We became more attractive to credit card companies because we paid our balance in full and on time each month,” he says. This caused some embarassment with my new employer. Check for Pre-qualified Credit Card Offers, Credit Intel – Financial Education Center. However, we may receive compensation when you click on links to products from our partners. The annual fee to enroll a Global Dollar Card Corporate Card is $75. However, Card Members can receive no more than one $85 credit or $100 credit, depending on which program the Card Member first applies for, every 5 years for an application fee charged to an eligible Card. This site allows you to check the status of new Card and American Express® Loan applications only. If your application for a business credit card was turned down, don’t despair- you have options. If you apply for a credit card, the lender may use a different credit score when considering your application for credit. for your interest in the American Express Corporate Card Programme. He’s since been approved for The Business Platinum® Card from American Express, which is a top-shelf business card with premium perks. Your credit cards journey is officially underway. The American Express ® Corporate Card program is a great option for managing T&E expenses. American Express Global Lounge Collection® Programs & Partners. Business Credit Cards. It's been our experience that applicants who were not approved for a new account at one time may qualify in the future. CareCredit’s mobile app gets a facelift, but the card’s terms may cause wrinkles, CareCredit has rolled out a new mobile app that allows you to pay for medical procedures without having your card, but consumer advocates warn against getting the card in the first place. After being denied for a business card, he and his business partner resorted to personal credit cards, home equity loans and their current income to finance initial business expenses. ADVERTISER DISCLOSURE CreditCards.com is an independent, advertising-supported comparison service. You could also be denied if you’ve applied for multiple cards with different banks. All rights reserved. In Mitchell’s case, he focused on strengthening the business’s fundamentals and practicing good habits with personal credit. An American Express corporate card, for example, is a joint liability card. The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. Call the Reconsideration Department (866-314-0237). Newer businesses can also be denied a business credit card when they lack solid financials. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. The American Express ® Corporate Card. Asking for reconsideration could fast track you to a business credit card approval but sometimes you may have to take the slower route. It’s important to note that, under the Equal Credit Opportunity Act (ECOA), you have the legal right to know why your credit card application was denied. Yesterday we posted about changes Chase had made to the business credit card application page, some of the old application pages still work but it doesn’t seem to matter what page is used and tightening of approvals is across the board. Take a look at our cards . “Without ab existing credit history, traditional banks and credit institutions will not provide them a card to access the funds necessary to get their businesses up and running.”, See related:5 things you should know about business credit scores. An employee's personal credit won't take a hit if the bill is paid in full within 180 days. Sometimes, getting approved for a business credit card is as simple as asking for them to take another look at your application. Please call us at 1-800-567-1083 if you'd like us to review our decision. Doug Mitchell, owner of Ogletree Financial Services, an insurance brokerage based in Auburn, Alabama, applied for a business credit card with American Express when his agency was brand-new. Copyright © 2020 CreditCards.com a Red Ventures Company. See related:How Chase’s ‘5/24 rule’ can impede quest for rewards cards. But, wary of customers looking to earn and burn welcome bonuses, issuers have slowly found ways to decrease the number of customers that open a card, earn the bonus and then move spending to a different card.After all, issuers want to attract long-term customers who will use their cards regularly — and not just to earn the … If your Amex application status is denied or pending, you can call 800-567-1083 or 866-314-0237 to speak with a live credit analyst. It is provided to Corporations enrolled in Online Program Management, which is available through American Express @ Work ® . “A company can have millions in the bank and still not get a credit card,” says Henrique Dubugras, co-founder and CEO of Brex, a corporate credit card designed for startups. The Corporate Card program provides … American Express, however, directly issues corporate cards, so you can do more comparing upfront than you otherwise could with a Visa or Mastercard. Chase, for example, imposes the 5/24 rule, which is if you’ve opened five or more personal credit cards from any bank in the previous 24 months, you might not be able to get a Chase business credit card, according to Million Mile Secrets. Loans. “After a couple [of] years of steady cash flow, growth and paying on time, getting business credit cards was no longer an issue.”. Rebecca Lake. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. Here are some of the reasons why you may get denied for a credit card: Your credit score isn’t high enough — This is the most common reason why someone may not be approved, and definitely the most talked about. Privacy Policy. American Express application rules typically (though not always) limits you to one Amex credit card approval per 5 business days. “My advice is to use those and pay the bills off frequently and often, being super careful not to revolve,” says Dubugras. There was an unexpected problem submitting your information. Merchant Home; Accept the Card; Find Payment Solutions; Get Support; Other Business … I was also denied a credit card by Chase Bank USa, N. A. for the same reason; a … While corporate cards are usually aimed at large businesses, small businesses with solid revenue and good credit might also want to look into getting a corporate card. Enjoy benefits across our suite of products such as cash back in the form of a statement credit, travel rewards, flexible payment options, and Membership Rewards ® points ‡.Choose the Small Business Card from American Express that's right for your business. Establishing vendor lines of credit and paying vendors on time each month can help you begin building business credit history if you’re not yet able to qualify for a credit card or loan. The Program Administrator is charged a $90 annual enrollment fee for each enrolled Corporate Green Card. Not only will this help to minimize interest charges, but positive account activity can strengthen your credit score. See related:10 surefire steps to get errors off your credit reports. A major drawback, however, “is that they’re operationally painful to maintain, particularly for busy founders and business owners.”. What should I do? Credit analysts have the power approve you over the phone – so be nice! While card issuers don’t publish their official credit score requirements (and typically it’s a range rather than a particular number), data points can help you pinpoint where you should strive to be before applying. Keep in mind that we cannot guarantee we will change our decision. Secured cards can also come with higher annual fees or annual percentage rates if you carry a balance, both of which can cost your business money. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. Subscribe to get the week’s most important news in your inbox every week. American Express offers a wide variety of credit and charge cards – meaning it might not be as exclusive as it once was considered. What to do if you’re turned down for a business credit card, Review your personal and business credit reports, Ask the credit card company to reconsider, Consider traditional business credit card alternatives, 5 things you should know about business credit scores, How Chase’s ‘5/24 rule’ can impede quest for rewards cards, 10 surefire steps to get errors off your credit reports, Reconsideration lines offer a second chance at credit card approval, The Business Platinum® Card from American Express, 6 ways to maintain a good business credit score”. The more recently a black mark shows up on your credit, the more impactful it’s likely to be in credit decisions. I think I had 5 when I applied and now I am down to 4 (on my experian report) because a couple Steps to Getting American Express Approval After Denial. It appears that JavaScript is either disabled or not supported by your web browser. JavaScript must be enabled to experience the American Express website and to log in to your account. We're Sorry! CreditCards.com is an independent, advertising-supported comparison service. Track your application status. Please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs. American Express application rules typically (though not always) limit you to one Amex credit card approval per 5 business days. By providing my email address, I agree to CreditCards.com’s However, all credit card information is presented without warranty. Had my first issue with an American Express ® Corporate card program provides … for your.! Faqs ) American Express because of a past charge off that is no longer my... Application please provide the below information to access your application for a card was declined, ’! 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