luvbullmarkets wrote:Hello Everyone,
I was considering applying for Amex Blue for Business. The card earns MR points with no annual fee.
-30% annual MR bonus
-10K MR points after first purchase
-10K MR points after spending $5K during first 6 months of Card Membership
-0% intro APR for 9 months.
The one catch is I am not a business owner / sole proprietor. Will Amex underwriting actually investigate an existence of my business? Or could I just use my SSN in lieu of Tax ID? I know individuals can apply for Chase Ink with just and SS#.
Appreciate your thoughts and suggestions.
Just because people do it with the Ink cards doesn't mean it's not a stupid (IMO) idea.
The bottom line is the cards are designed for business use. We can debate all day about "but I sell stuff on ebay once a year! Doesn't that count?" but at the end of the day most people know in their heart of hearts whether they should qualify. If you want to risk the account facing AA/closure when/if Amex finds out that you really don't own a business, then have it. To me, it wouldn't be worth the risk. The same goes for the Ink cards. People get them without legit businesses, but that doesn't mean Chase will not shut them down sooner or later. The point is most loopholes in the credit world are eventually discovered and closed.
Now, if you have a reliable source of income that you generate through your own business, even if it is just selling on ebay but you do it faithfully (not just occasionally), then it's legitimate. But plenty of people who you hear of having those Ink/business cards are merely cheating the system.