Amex ending business capital lines

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
4 posts
User avatar
Mogul of Pineapples
Centurion Member
Centurion Member
 
Posts: 1271
Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

Amex ending business capital lines

Postby Mogul of Pineapples » Mon Jan 12, 2009 3:57 pm

Effective January 15, 2009, American Express will discontinue its business capital line program and business line of credit. These were lines of credit for business that did not involve a credit/charge card.

I understand why they need to do that in this environment, and I know there are Amex OPEN business credit cards that could be used in place of it, but it's a pity for companies like this one: Pinson Communications - the seventh largest book wholesaler in America. that despite having zero debt, now has to re-think their business plan because of this change.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred


User avatar
Cucumber
Centurion Member
Centurion Member
 
Posts: 567
Joined: Tue Apr 22, 2008 12:44 am
Location: Zuma

Postby Cucumber » Tue Jan 13, 2009 1:29 am

That sux big time. :( The interest rates on the credit cards are higher too I would think...
OBAMA
Stop talking crap about him!

User avatar
fffresh
Centurion Member
Centurion Member
 
Posts: 416
Joined: Sat Apr 26, 2008 9:12 pm
Location: the edge of the world

Postby fffresh » Tue Jan 13, 2009 12:37 pm

Right now no one wants to be in the business of doing business with, well, other businesses.

Entrepreneurs and small business owners are the driving force behing America and today's anti-small-business environment makes starting or operating one increasingly more difficult.

KC95
Platinum Member
Platinum Member
 
Posts: 77
Joined: Wed Apr 23, 2008 2:51 pm
Location: cc

Postby KC95 » Thu Jan 15, 2009 3:05 am

so much for those tarp funds opening up the credit markets!



Return to “American Express”

Who is online

Users browsing this forum: No registered users and 2 guests