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Are you intimidated by the idea of small business cards? If so, you’re not alone!
AMEX small business cards are NOT as scary as you might imagine. If you conquer your fear of small business card applications, a whole new miles & points earning world will open up to you! AMEX small business cards have great welcome bonuses, and they do NOT count towards the Chase “5/24 rule”!
I’ve even started a small business reader success series to let other readers to share their experiences with small business cards.
You might worry that applying for an AMEX small business card is difficult, a waste of time, or even dishonest. But being approved for an AMEX small business card is relatively easy, and you do NOT (and SHOULD NOT) need to mislead AMEX into giving you a card you don’t deserve. You don’t need to be a multi-million dollar company to be approved, and you may already have something in your life that qualifies for a small business card.
The AMEX small business card application is very straightforward, but it’s changed a bit over the years. So I thought it would be a good idea to refresh my post on how to apply!
Why Consider Small Business Cards?
Here’s the golden secret about opening small business cards: Most do NOT appear on your personal credit report. So not only will it not impact your personal credit score in the long term, but you can apply for many small business cards and still remain below the Chase “5/24 rule”!
Business cards are an easy way to get extra miles and points for anyone who is self-employed, or even have a side hustle. Lots of folks may even qualify for small business cards without realizing it! For example, if you freelance write, tutor students, or even sell items on eBay, you could be eligible for a small business card!
However, business credit cards may NOT have all the consumer protection personal cards have. For example, banks can raise the APR of your small business card without warning (which they can NOT do with a personal credit card). So be sure to know the card benefits so you use the best credit card for your purchases.
Note: The AMEX welcome bonus rules restrict you from earning a welcome bonus on the SAME card more than once. So if you’ve had a card before, you can NOT earn the bonus when you open the card again. Before you apply for an AMEX card, it’s a good idea to make sure you aren’t targeted for a higher offer.
How to Fill Out an American Express Business Card Application
The American Express small business card applications are very similar to the personal credit card application, but they have an additional page of required information. Fortunately, all AMEX small business card applications are nearly identical.
Here’s what they look like!
Step 1. Shortcut for American Express Customers
If you are an existing American Express customer, you can click the “Already a Card Member?” button. And then fill out your user ID and password to have the application automatically enter your existing personal information.
I don’t have any rational basis to justify this, but I always fill out the information manually. Hah!
Step 2. Enter Your Business Information
Here’s how to fill out the form for a sole proprietor business.
Legal Business Name
If you’re a sole proprietor, you can enter your full name as your legal business name.
Business Name on Card
This is the name of your business which you want printed on the credit card. This can also be your name.
This is your home address if you run the business from your home.
Sole Proprietor (if the business is run by just one person).
Years in Business
This does NOT mean the amount of time you’ve been making profit. For example, if you have been thinking of selling homemade cookies for the last 18 months and have been buying ingredients to test different recipes, you can enter “1-2 years.”
Annual Business Revenue
Enter the total amount you receive annually for selling your products. If you haven’t yet earned anything, don’t fib! Entering $0 is perfectly acceptable.
Estimated Monthly Spend
Let AMEX know how much money you think you’ll put on your card each month to keep your business running.
Number of Employees
You have at least 1 employee (yourself) if you are a sole proprietor.
Federal Tax ID
If you’re a sole proprietor, enter your social security number. The format of the text box in the application is for 9 digits, but in the format of 12-3456789. Your Social Security number is also 9 digits, but is formatted as 123-45-6789. As a sole proprietor, your 9 digit social security number is your 9 digit Federal Tax ID.
It is very important to fill out all information in credit card applications truthfully. It’s much better to say that you have no annual income than to enter a fictitious amount. In the past, Emily has entered revenue of less than $100 and was still approved for a small business card.
Step 3. Enter Your Personal Information
Input everything you’d need to enter on a personal credit card application. If you’re already an AMEX customer, you can skip this step by signing-into your AMEX account like in the first step.
Step 5. Verify and Submit Your Application
Click the “Verify Application” box to agree to the Terms and Conditions.
Part of the terms says:
…REPRESENTING THAT ALL CARD(S) ISSUED ON THE ACCOUNT WILL ONLY BE USED FOR COMMERCIAL OR BUSINESS PURPOSES.
Getting a small business card is a terrific way to keep your personal and small business expenses separate. That said, I know folks who’ve occasionally used a personal card for business expenses or vice versa. Just know that American Express would like you to use the small business card only for business expenses.
Then click “Submit Application“.
Step 6. Wait for Approval
If you’re not automatically approved for the card, I recommend NOT calling the reconsideration line, but instead waiting until you get a message from AMEX telling you their decision (or you see the result through your online application status.) This will give you 2 shots at being approved.
If the AMEX computers don’t end up approving you, there’s still hope! You can call the reconsideration line and offer more information about your small business to a representative. Sometimes clarifying your situation can help get you approved!
When you call the reconsideration department, try to get a sense of whether the AMEX representative is willing to help you early in the call. If the representative is unwilling to help, or appears to be a stickler, politely hang up (dinner is ready!) and call back later. 🙂
Top American Express Business Card Applications
There are lots of great AMEX small business credit cards to choose from, like:
- The Business Platinum® Card from American Express OPEN
- Starwood Preferred Guest® Business Credit Card from American Express
- The Business Gold Rewards Card from American Express OPEN
- Platinum Delta SkyMiles® Business Credit Card from American Express
- SimplyCash® Plus Business Credit Card from American Express
- The Blue Business℠ Plus Credit Card from American Express
Small business cards are a great way to earn extra miles & points. Especially when you’re trying to stay below the Chase “5/24 rule”! That’s because most small business cards do NOT appear on your personal credit report.
You also do NOT need an established business to get approved for a small business card. Many folks have small businesses without knowing it! If you have a side gig, like selling items on Etsy, coaching a football team, or performing handyman duties for money, you could qualify for a small business card!
Just remember to be truthful on the application!
Let me know about your small business card application experience. And if you have a small business card and would like to be interviewed in our small business card series, send me a note!