Applying for the AMEX Starwoods Business card one last time

Introduction

This was going to be a weekend roundup post, but it grew big enough to be its own post.

On Doomsday, when news broke of the new AMEX Biz rules kicked into place, DoC tweeted “It’s amazing what you can do with a mobile phone these days #hint.”  The sleuth that I am, I knew what he meant.  And you should too!  I first looked up the Biz Plat and saw the new terms.  However, the SPG Business did NOT have the new terms yet.  It still said, “Hasn’t had product in the last 12 months.”  Since I closed the card back in 2014, I was in the clear.  I was worried since I had 4 cc’s already (old school Blue, pers SPG, Biz Delta Gold, Biz Simplycash) that they would reject my application.  I decided to apply anyway and deal with the 4 cc’s later.  Sure enough, when I applied, the app went to review.

Negative mark on my credit report

Quick aside here – I had closed my Business Gold card in January, but decided I wanted to re-open it as a Green card for the AMEX offers.  When I called to re-open within 2 weeks, I thought it was a slam dunk.  However, because of the negative mark on my credit report due to my 2 non-payments to Nieman’s, I got a rejection letter in the mail weeks later.  I wasn’t sure how long I’d be rejected for cc’s due to that mark.  So I was worried I’d be rejected for this new application.  This was really 2 tests in one credit application.

Closing my Business Delta Gold

I called up recon and asked about my app.  Rep told me I had 4 lending accounts already, and that I needed to close one before they could proceed with the application.  I asked her to close my Biz Delta Gold.  She told me she couldn’t do it, and I needed to call the number on back of card to close.  Later that day, I called to close the Biz Delta card.  The rep asked why; I told them because I had 4 lending products and wanted the SPG card over the Delta card.  He closed it with no pushback at all.  I asked him how soon the systems would update for the app review team to see I had closed the card.  He wasn’t sure, but said it was probably immediate.

Some people may ask why I chose the Biz Delta Gold card.  It was either that card or my old school Blue card.  I chose the Biz card since it was only 8 months old and I never used it (except for AMEX Offers.)  I was planning on closing the card come 12 months anyway.  Plus, I have sentimental value on the old school Blue card.  I know, it’s irrational since it’s a useless card taking up a valuable slot.

Pushing the application through

I waited a day and called back.  Sure enough, the rep told me I had 4 lending accounts.  I told them I had just closed the Delta Gold, and he said, “Okay, I’ll send the application for further review.”  This made me think – why couldn’t he see that I had already closed the card?  Was he just lazy and read the last memo line on my application?  What would have happened if I told him I closed the card, but actually didn’t?  Would the system just reject me again?   Anyway, he told me to call back next week.

Calling back

I gave it a weekend before I called back on Wednesday.  Realistically, I could have called back on Monday I think because my call back on Wednesday was the typical recon call from AMEX – rep wanted me to confirm my identity, was asking me if I stayed at Sheraton hotels when I traveled (how do I answer that?), telling me how I’m a valued cardmember, blah blah.  The call took a total of 6 minutes, and I was on the seat of my pants for the first 5 minutes.  I just wanted to yell at him, “JUST TELL ME IF I’M APPROVED OR NOT!!!!”  

Eventually, the excitement in his voice let me know I was approved.  I asked him the CL – he said 25K.  I asked him to read the offer, which was earn 25K SPG for $5K of spend within 90 days.  I didn’t ask him about any old/new terms.  I’m cautiously hopeful that I got the old terms, but we won’t know until I get the card and do the spend.  I’ll keep you guys posted.  Btw, the deal is still alive if you apply with the right link.  

Update – when I wrote this post, the 25K offer still had the old terms. Once the new 35K offer went into effect, they changed the terms. If you don’t know anyone who has a biz SPG card and need a referral link, here is mine.  And here’s mine for the personal card.