Originally Posted by
mommafrica
@ Mia
Respectfully, I understand that part. I applied anyway and got approved, but only for $2K? I'm not happy with that but I can deal with it for now. In six months to one year I will ask for an increase.
The good thing is that I was able to use the app in the wiki. It gave me a problem for a minute, but the site saying that it was having problems after I applied and wouldn't go through. Maybe because I was on Chrome, so I went to IE and it went through.
You can ask, but don't be surprised if they make you wait a year to give an increase. Many banks these days (due to their interpretation of the credit protection act passed a few years ago) do not allow changes to credit limit within the first year.
The good thing is that as a business Amex card it does not report to personal credit bureaus (as long as its keep in "good standing"). So you can at the very least walk right up the credit limit and not worry about how it affects your "utilization" and thus your credit score. (As
mia said, you may or may not have the ability to even go beyond your credit limit.)
Because of this,
a low credit limit on a business card (used for the same stuff a personal card would be used for)
is not nearly as bad as a low credit limit on a personal card.