Applying for a small-business credit card, like those offered by American Express, can be a game-changer for your business finances, offering rewards and benefits tailored to business owners. Whether you’re a freelancer, a rideshare driver, or a small business operator, Amex business cards are accessible to a wide range of professionals. Here’s a comprehensive guide to help you through the application process and maximize your chances of approval.
1. Benefits of Applying for an Amex Business Card
American Express offers a suite of business credit cards that cater to different business needs. From earning valuable rewards points to accessing exclusive travel perks, Amex cards provide a range of benefits that can help streamline your finances and enhance your business operations.
- Rewards Programs: Many Amex business cards earn Membership Rewards points, which are versatile and can be redeemed for travel, gift cards, or statement credits.
- Travel Perks: Some cards, like The Business Platinum Card® from American Express, offer access to airport lounges, travel insurance, and elite hotel status.
- No Annual Fee Options: If you’re looking to avoid annual fees, The Blue Business® Plus Credit Card from American Express provides 2x Membership Rewards points on eligible purchases with no annual fee.
Even if your business is a side hustle, you may still qualify for an Amex business card and enjoy these benefits, helping you to maximize rewards on everyday expenses.
2. Choosing the Right Amex Business Card for You
Selecting the right Amex business card depends on your business needs, spending habits, and the type of rewards you value most. Here are a few popular options:
- The Business Platinum Card® from American Express: Ideal for frequent travelers, offering perks like lounge access and 5x points on flights and prepaid hotels booked through Amex Travel.
- The Blue Business® Plus Credit Card from American Express: Perfect for businesses seeking no annual fee and flexible rewards, earning 2x points on the first $50,000 spent each year.
- Hilton Honors American Express Business Card: Earns Hilton Honors points, offers automatic Hilton Gold status, and provides rewards for frequent hotel stays.
- Delta SkyMiles® Business American Express Card: Great for those who travel with Delta, offering benefits like priority boarding and free checked bags.
Factors to Consider When Choosing a Card:
- Annual Fee: Cards with higher fees, like the Business Platinum, often come with additional perks that can offset the cost for frequent travelers.
- Rewards Structure: Choose a card that aligns with your business spending habits. If you spend a lot on travel, a card with travel perks may be best. For general spending, a card that earns rewards on all purchases might be more suitable.
- Additional Benefits: Many Amex cards offer travel insurance, purchase protection, and extended warranties, which can be valuable for business owners.
3. Essential Requirements for the Amex Business Card Application
Applying for an Amex business card involves providing both business and personal information. The application process is straightforward, but it’s essential to have all the necessary details ready to ensure a smooth experience.
- Legal Business Name: Use your name if you are a sole proprietor or your registered business name if you have one.
- Business Address and Phone Number: This can be your home address if you work from home. Amex uses this information for verification purposes.
- Business Structure: Most freelancers and side hustlers are sole proprietors, but select “corporation” or “partnership” if it applies to your business.
- Gross Annual Revenue and Monthly Spend: This information helps Amex understand your business’s financial picture. For new businesses, it’s okay to estimate or put zero if you have no revenue yet.
- Federal Tax ID or Social Security Number: If you’re a sole proprietor, you can use your SSN. Otherwise, provide your business’s Federal Tax ID.
Checklist of Information to Gather:
- Legal business name (or DBA)
- Business address and contact details
- Company structure (sole proprietor, corporation, etc.)
- Annual revenue and estimated monthly spend
- Federal Tax ID or SSN
4. Completing the Application Process
The Amex business card application is similar to applying for a personal card, but with a few additional fields for business information.
- Log In (Optional): If you already have an Amex account, logging in can streamline the process, as some information may auto-fill.
- Provide Business and Personal Information: The application will ask for business details, followed by personal information, including your income. Be sure to include all sources of income that you can reasonably expect to use to pay bills.
- Review and Submit: After completing the form, review your information to ensure accuracy. You can save the application and return to it later or submit it for immediate review.
Amex may provide an instant response, though sometimes additional review is needed. If this is the case, you’ll receive a notification and possibly a follow-up from Amex.
5. What to Do if Your Application Is Declined
If your application is declined, you have options. The Amex reconsideration line is available for applicants who want to discuss their application and potentially provide additional information to aid in approval.
- Reconsideration Call: Contact the Amex reconsideration line at 1-877-567-1083. During the call, you may be asked a few questions about your business or income.
- Offer Alternative Solutions: Sometimes, reallocating credit from an existing Amex card or closing an old account can make approval possible.
- Ask for Feedback: If your application can’t be approved, asking for specific reasons can help you address any issues before applying again.
By speaking with an agent, you have a chance to humanize your application and address any concerns directly, improving your chances of getting approved on a second attempt.
Conclusion
Applying for an Amex business card can open doors to valuable rewards and benefits, helping you manage and grow your business. By choosing the right card, gathering your business information, and understanding the application process, you can enhance your chances of approval. Should your application face any setbacks, the Amex reconsideration line offers an additional opportunity to discuss your options. With thoughtful preparation and persistence, you can find a business card that suits your needs and supports your financial goals.
