Personal Finance on Sidechat | Hey y’all, I started a small business, I don’t have much income from my workstudy at college but have fair credit (693). As I get more orders, I might need a credit card, do you think I could apply for Amex gold once I make consistent sales?

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Personal Finance 5d

Hey y’all, I started a small business, I don’t have much income from my workstudy at college but have fair credit (693). As I get more orders, I might need a credit card, do you think I could apply for Amex gold once I make consistent sales?

Anonymous 5d

I wouldn’t rush the Amex Gold. When you’re building a real business, the move isn’t chasing premium cards, it’s mainly about establishing clean cash flow and a short track record of consistent sales. Amex cares more about spend behavior and revenue than a single credit score, and once you show predictable income and disciplined usage, approvals get easy.

Anonymous 4d

Build a cashflow, try to use the profits to scale operations / marketing, if that’s not working out, then consider using debt, and even then a credit card may or may not me your best option based on the terms and interest rates

Anonymous 2d

Just posting out of concern, since you mentioned YOUR credit. If you have a business, and you 1,000,000% NEED funding. Use your business account to go to bank and apply for business loads. If you do not qualify, open a business credit card. DO NOT use your PERSONAL credit card. This is for your own financial safety.

Anonymous 5d

Sure.

Anonymous 5d

What kind of business is this?

Anonymous

#2 5d

When I started out, I had a basic business card and I made sure to keep utilization low, pay everything on time, and let the numbers speak. When the Gold makes sense operationally, it’ll come without you forcing it.

Anonymous

#2 5d

Basically I’m saying yes but just be careful since so many businesses fail

Anonymous

#5 2d

Loans*