General Question

afghanmoose's avatar

What are the pros and cons of having an american express business card?

Asked by afghanmoose (554points) November 28th, 2008 from iPhone

I own a restaurant and am thinking about this card,please convince me either way.

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4 Answers

augustlan's avatar

I was offered this card, and chose not to get one. Based on what I remember, the pro was no preset spending limit. This could also be construed as a con, though, as at any time they can say ‘nope, we’re not willing to extend you that much credit!’ That could play hell with planning. I believe it was a rewards card, but it also came at a steep price (annual fee). I already have an American Express ‘Blue’ card, with no annual fee, a decent interest rate, and rewards. I found that to be plenty for my purposes.

JohnRobert's avatar

Many business are dropping AMEX because they are getting greedy on the fees. I wish I could find a documented source for you, but I’m just going on what I have heard locally.

afghanmoose's avatar

Fo my business amex takes the least three days to put the money in my account,plus the fees are the most compared to everything else,diacover is very similar.

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