Starting a company is hard work. We needed every bit of help we have received. I attended a Government business matching symposium one day in October of 2009, and American Express OPEN was a big sponsor of the event. I knew we would need business accounts and we had used them at our former corporate company, so I signed us up for an account.
It sat on my desk until about March 2010.
We were coming up on a need to make a big purchase for the business and were still gathering our resources to pay for it. "Ah" I thought "I have the AmEx card" I could use that for a 30 day window for the purchase. I knew it would be our first charge so I called ahead. "Will this amount be alright?" I asked. and then " Please make a journal entry on our account that I have called to ask this." You may wonder why I did this. It is a sure - or it should be - way to make a communication trail on your account.
Fast forward - we make our purchase and not 7 days later my account is frozen. I receive rude phone calls, and a letter. In talking to the agent I ask her why this has been done, isn't there a record of my conversation? No record. The agent tells me that such journaling is not required for such a conversation. I then asked " Is it still not required if the customer specifically requests that it be done?" No Answer.
My message to you business people out there. American Express claims to be OPEN for businesses but they are NOT. They are CLOSED to businesses and are just like any other credit card company. Use this type of credit only when absolutely necessary. and if possible not at all.
I am not a fan and will not use the Amex card. My company is not an Amex business customer any more.
It reminds me of the scene in Pretty Woman when the store clerk would not serve her and she returns to say - remember me and how I was beneath you?
Mistake - big mistake.
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