Your Amex Blue Business Cash approval odds are good if you are a business owner with a personal credit score of 700+, which is considered at least good credit. Approval odds for the Amex Blue Business Cash Card will be influenced by your annual income and existing debts. Applicants will also need to be 18+ years old, and have a U.S. mailing address and an SSN or ITIN.
What You Need for Good Amex Blue Business Cash Card Approval Odds
700+ personal credit score (at least good credit)
Enough income to pay credit card bills
Low debt relative to income
Low housing costs relative to income
U.S. mailing address
Age of 18+
Employer Identification Number, if applicable
Social Security Number or Individual Taxpayer Identification Number
Keep in mind that business credit card issuers generally use your personal credit information to decide whether to approve your application. That's why you'll need to provide your Social Security number, even if you have an Employer Identification Number.
You can sign up for a free WalletHub account and see if you're likely to get approved before you apply.
You need a credit score of 700 for an American Express business card. That means you must have at least good credit for decent approval odds. American Express does not offer business cards for bad, fair, limited or no credit. Nor do they have any secured business cards to help rebuild credit.… read full answer
It’s important to note that an applicant’s credit score is not the only factor that Amex considers. Things such as payment history, income and current debts are also important. But the higher your score, the better your chances of approval become. Keep in mind that Amex will look at your personal credit during the approval process because you will have to provide a personal guarantee to pay Amex back if the business cannot. This is normal for business credit cards.
There is no way to know how high American Express credit limits are. You won’t know your American Express credit limit until you’re approved for an account. American Express does not disclose a minimum credit limit in their cards’ terms and conditions, unlike some other major issuers. All Amex says is that your credit limit depends on your credit history, debt level, income, and payment history on other American Express cards.… read full answer
One way to estimate what credit limit you might get on an American Express card is to read customer reviews of the card. People will often post what limit they received, sometimes with their credit score and income. But you should take any of these numbers with a grain of salt. Just because someone with a similar credit score or income got a certain limit, it doesn’t mean you will, too.
No, you don’t have to pay off all American Express card every month. Most Amex credit cards allow you to carry a balance from month to month, requiring only a monthly minimum payment to keep your account in good standing. Some even offer 0% introductory APRs. That’s the case with some of the best American Express credit cards like:… read full answer
But there are exceptions. If you have one of those cards and use it responsibly, American Express may offer to let you pay for certain purchases over time. Interest will apply to such purchases, though, at a rate that won’t be disclosed until Amex extends an offer.
You can check out WalletHub’s review of the best American Express credit cards to find a good option for carrying a balance. Just don’t expect to find a low regular APR. American Express credit cards are known more for rewards than low rates. All information about the American Express Cash Magnet® Card has been collected independently by WalletHub. The American Express Cash Magnet® Card is no longer available to new applicants through WalletHub, but may be available on the American Express website.
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