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American Express Working Capital Terms

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American Express Working Capital Terms Review

    Erica Seppala
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American Express Working Capital Terms

Erica Seppala

Erica Seppala

Expert Analyst & Reviewer at Merchant Maverick
An expert in accounting, finance, and point of sale, Erica has been researching and writing about all things small-business since 2018. Erica's insights into personal and business finance have been cited in numerous publications, including MSN, Real Simple, and Reader's Digest. She is a graduate of Limestone College.
Erica Seppala
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7 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Danny T

    The program is a joke. Sure, the advertisement sounds good but HOW can you run a business with this program when your availability consistently changes. One day you login you can borrow $40K, the next day it’s 19K then another it’s 20K then it goes back to 40K then another it’s 0. Who would deals with that BS?One day you show 40K so I am plan on using login a day later and it’s 0.that entire program is useless

    1
      Robin Howe

      Organization Name: Sports Net Action Photos LLC

      Program is a joke. I found it extremely helpful when it first came out about 3 yrs ago, then in 2020 without notice and for no apparent reason we have 0 availability. I call and have been told its an algorithm and I should keep signing in everyday to check my availability. I honestly have no time to check a 0 bal everyday. We have a line of credit that is there when we need it…this process is just a waste of my valuable time.

      1
      • Organization Name: Sports Net Action Photos LLC
      mike ashmore

      Organization Name: aplomb development

      I am more attempting to provide aid to the other people talking on here. I originally searched for a simple phone number for the department , but I saw the comments and thought i would help . AMEX uses a common credit score and nothing else . It can incredibly frustrating , as i too have plummeted from 250k to 0k in 24 hours for what i would say is no reason at all, and amex was not able to convey a reason either… come to find out ( I have 9 amex cards,) that the entire reason for them turning off the account was a dip in my credit score , but it was literally their fault too . I made one mid sized purchase on a revolving debt amex card. It was around 20k , and i believe my purchase used 19k and change, as I have planned on paying it off the following month . Only it hammered my ratios on my credit score dropping it almost 50 points . Nothing in my life changed , yet amex reporting that charge to the credit bureaus lowered my score enough to squash a quarter of a million dollars I was going to use for payroll. The amex wrkng capital dept is simply a reflection of your current credit score at any time , these are the rules of the game , play it , or do not play the game , but once knowing the rules the game , makes it kinda useless to complain , for one cant simply sit the game out .

      3
      • Organization Name: aplomb development
      Jon Weilbaker

      Organization Name: New York ATM

      Used to be a great program…I had worked my credit line up to $135K over 1.5 years by using it 2x per month for 5 figure business purchases and ALWAYS paying back on time or even early.As Ted says, now all our lines are cut to zero with no communication and no one at customer support knows anything. The online customer chat box has even been disabled.I run an “essential” business and all our bills are being paid on time and my personal credit score is 750.So much for the “Amex has got your back” ad campaign. My last loan is due at the end of the month and when it is paid off I will probably never use this program again. A credit line that is there only in good times is useless.

      2
      • Organization Name: New York ATM

      This comment refers to an earlier version of this review and may be outdated.

      Craig

      Organization Name: LHD

      What is the response of American Express Working Capital for the COVOD-19 these days ?They…CUT your limit and no more funds available ! Yes, this is how this company treats the customer. This is help made by AMEX.My advice – stay away of them unless you like the troubles.

      1
      • Organization Name: LHD

      This comment refers to an earlier version of this review and may be outdated.

      John Cantu

      This program does not make any sense for business since the basic factor in that is planning your finance moves. AMEX does not provide any info about the current limit of your loan . You can see one day you can borrow $100k, a day later it is $50k, a week later $120k. Looks like a lottery – you need look into every hour. Unpredictable and unreliable service. Wonder who is the author of this lottery.

      1

        This comment refers to an earlier version of this review and may be outdated.

        Ted Simons

        Organization Name: connections unlimited inc.

        I concur with your comments. You can NEVER be certain funds will be available when you go to pay a vendor. My available funds have ranged from $30K to $70K+. I have NEVER missed a payment and I have used the program regularly. Then, suddenly and without notification or explanation, I go online to make a payment to an established vendor and the $70K that was available is suddenly $0.00. Attempting to get an explanation by telephone, after more than an hour on the phone, no one could give me a comprehensible explanation. I USED to recommend the program. I no longer will.

        • Organization Name: connections unlimited inc.

        This comment refers to an earlier version of this review and may be outdated.

      Comments are closed.

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