Carrying balance on AMEX charge cards

[whipped]

Would AMEX shutdown new charge card account if I carry a balance for their charge card?

 

I'm trying to establish a relationship with my local CU to hopefully obtain line of credit but also eyeing the benefits of using AMEX charge cards.

 

The only issue of course is that if the product doesn't sell and I carry inventory, I would have to pay the balance by end of each month correct?

 

I'm completely new to business lending so wanted to ask before I even think about applying

[BRBiz]

They may not like it too much on a new account but I'm no expert on AMEX products.

[cloknem]

 

Amex may offer Extended Payment Option on your card

• All eligible¹ charges of $100 or more can be paid over time.

Charges are automatically moved into your Pay Over Time balance and you choose how much to pay: Just pay in full, the minimum amount due, or anything in between - it's that simple.

[whipped]

Okay thank you. I applied and got approved for the Platinum. Hoping to at least get the 75K bonus points I have a bit to purchase for my business so going to do this very carefully.

[BRBiz]

Really with any bank and new account you don't want to go crazy with spending the first few months or especially first month.

[whipped]

Really with any bank and new account you don't want to go crazy with spending the first few months or especially first month.

 

I agree and I will spending just enough so in case my inventory doesn't sell within 30 days I can still pay it off with no problem

 

I switched to Gold Business charge card as I saw better benefit with this card instead of the Platinum. Still got the Platinum card before they could cancel it although this one's not metal (maybe because of the charge card?).

 

Gold has at least the annual fee of $175 waived the first year and $5,000 in 90 days will net me 50,000 points

[FixnCred]

Amex loves spend. I charge up my Plat and BGR each month until they shut me off and call for payment. My internal limit is $105K before they start calling me.

 

Then I make a phone payment and do it all over again. My internal limit should be $200K starting in June based on my 6 month spend.

 

These are performance based cards along with personal score. They said once my cards hit 12 months they will review my bank statements and give me a new hard limit.

 

Sent from my SAMSUNG-SM-G891A using Tapatalk

[whipped]

Amex loves spend. I charge up my Plat and BGR each month until they shut me off and call for payment. My internal limit is $105K before they start calling me.

 

Then I make a phone payment and do it all over again. My internal limit should be $200K starting in June based on my 6 month spend.

 

These are performance based cards along with personal score. They said once my cards hit 12 months they will review my bank statements and give me a new hard limit.

 

Sent from my SAMSUNG-SM-G891A using Tapatalk

 

Ah okay that makes sense They did tell me the first 6 months is critical as well.