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American Express gives out credit cards like candy. We make 600/month and Amex have us 40k in credit. It’s aslo cheaper than their offering. It looks like an i
by lykron 8y ago
American Express gives out credit cards like candy. We make 600/month and Amex have us 40k in credit. It’s aslo cheaper than their offering.
It looks like an interesting product, but I’m surprised that Chase or Amex hasn’t attacked the market segment.
- 5874-4b22-a4e0 8y agoI have 7k a month pretax, with excellent credit and only have 9k limit on amex. 13k on my visa. When I request increases, I only get 500-1k increases.
- fossuser 8y agoYou might need a fancier card with a yearly fee - the chase sapphire reserve would probably give you $30k and the Amex platinum would give you something similar.
- bdcravens 8y agoBusinesses tend to get better terms than individuals
- irishcoffee 8y agoI'm at just under 100k/year, with both a discover and Visa at 25k limits, and a MasterCard at 5k. Not quite sure how it happened. Like you I also don't carry a balance.
- brianbreslin 8y agoThose cards might be tied to your personal credit/guarantee. Worth looking into.
- lykron 8y agoThey are. Small Business Cards are always are. It's not tied to my credit report, but my report was pulled as part of the process.
- fro0116 8y agoThat seems to be one of the points of differentiation then. It says right on the landing page "no personal guarantee": https://brex.com/ https://brex.com/ That sounds pretty compelling to me to be honest. Creating a business entity to limit your liabilities only to then put your personal credit history on the line for business spending seems pretty dumb now that I think about it. If it's not tied to personal credit, that might also mean it'd be easier for international founders who don't have a credit history in the US.
- onetimemanytime 8y agoAmex giveth, Amex taketh. They'll take their /your umbrella as soon as rain starts.
- foolproofplan 8y agoCare to elaborate on this?
- onetimemanytime 8y agoYou have $10k limit and only $4k used. In the back of your mind you have a $6k runaway. In reality as soon as Amex feel over exposed your credit limit will cut to your current use, $4k.