American Express Business Line of Credit Review for 2025

Is American Express legit?

Yes, American Express is a global leader in credit cards and other financial products. Its business lines of credit are issued by American Express National Bank, which is recognized by the Federal Deposit Insurance Corporation. It employs advanced fraud protection systems and smart technology to help protect its customers and offers 24/7 emergency phone assistance.

However, it hasn’t been without its issues. In 2012, the Consumer Financial Protection Bureau ordered Amex to pay more than $85 million to customers harmed by its illegal credit card practices across three subsidiaries. There are also numerous complaints on the Better Business Bureau (BBB) and Trustpilot websites about the company’s poor customer service.

What makes the American Express Business Line of Credit shine?

The American Express Business Line of Credit stands out for its quick application process and fast funding turnaround, making it a great option for businesses that need access to cash without a lot of paperwork. Since Amex verifies your business revenue by linking to your bank accounts, you can skip uploading financial statements or tax returns.

The minimum qualifications are fairly easy to meet, too. Borrowers with a credit score of 660+, at least a year in business and $3,000 in average monthly revenue typically qualify. These lenient qualifications make funding more accessible to business owners who may not meet the stricter requirements of traditional bank loans.

Another advantage is the lack of extra fees beyond the fixed monthly financing charge. Unlike some lenders, American Express doesn’t charge origination fees, prepayment penalties, annual fees or maintenance fees on its business line of credit.

Where the American Express Business Line of Credit falls short

One of the biggest downsides is its fee structure. Instead of a standard APR, Amex charges a fixed monthly fee that varies based on your loan term. This makes it hard to compare rates between lenders when shopping around and can result in higher borrowing costs, especially for longer repayment terms.

Another disadvantage is the limited terms. You must repay what you borrow in either 6, 12, 18 or 24 months. Many other lenders provide more flexibility, with repayment options extending up to five or even longer. Plus, the maximum credit limit of $250,000 is lower than some competitors.

Customer service is another concern. American Express has low ratings on Trustpilot and Better Business Bureau websites. Most reviews focus on American Express credit cards, but they still raise red flags for businesses considering a line of credit with the company.

And, opening an American Express Business Line of Credit requires a personal guarantee. That means if your business struggles to repay its balance, you’re personally responsible for covering the debt. This requirement can add risk to your personal finances and assets, especially if your business doesn’t have a large financial cushion.

American Express Business Line of Credit contact information

How to qualify for an American Express Business Line of Credit

The minimum requirements to qualify include:

• Be at least 18 years old
• Be in business for one year minimum
• Have a FICO score of 660 or higher
• Have at least $3,000 in average monthly revenue

Keep in mind that American Express states each business is unique and other requirements may apply depending on your specific situation.

How to apply

To apply for the American Express Business Line of Credit, follow these steps:

1. Create an account if you’re new to American Express or log in with your existing credentials if you’re already a customer.
2. Connect your business checking account and any additional accounts (like bookkeeping software or online payment accounts) to the platform.
3. Complete the application by providing your personal and business information.
4. Consent to a hard inquiry on your personal and business credit.
5. Wait for a decision from American Express.
6. Review and sign the loan agreement if approved.

Funds typically arrive in your account within three business days of signing the loan agreement.
Amex requires a personal guarantee, and you also need to secure your loan with business assets. Plus, it does a “hard pull” on your credit file during the application, so your credit score may lower slightly after applying.

American Express verifies your business and revenue by connecting to your business’s bank accounts digitally. This means you’ll need to share your login information for your accounts. However, this process also saves time and paperwork since you won’t need to upload or submit bank statements.

How American Express Business Line of Credit compares to other lenders

American Express Business Line of Credit reviews and complaints

Most reviews for American Express focus on its credit cards and other financial services with little mention of its business line of credit. On both the BBB and Trustpilot websites, the majority of complaints are about the poor customer service provided by company representatives, and users report spending hours trying to resolve issues with unhelpful agents.

Other complaints focus on issues with rewards, billing disputes and unexpected account closures. It’s important to note that these reviews may not reflect the experience you’d have with its business line of credit. Since this product is relatively new, there’s limited feedback available, making it harder to gauge borrower satisfaction.

Frequently asked questions

How does the American Express Business Line of Credit work?

The American Express Business Line of Credit gives businesses access to funds as needed, rather than a lump sum like a traditional loan. Approved borrowers get a credit limit between $2,000 and $250,000 and can withdraw funds at any time. Each withdrawal becomes its own short-term loan with a repayment term of 6, 12, 18 or 24 months.

What credit score is needed for an Amex Business Line of Credit?

According to the company website, 660 is the minimum credit score required to open an American Express Business Line of Credit.

Is it hard to get an American Express Business Line of Credit?

Qualifying for an American Express Business Line of Credit isn’t necessarily hard, but you need to meet specific requirements such as a 660 credit score, one year in business and $3,000 in average monthly revenue. Amex also reviews your business’s overall financial health, so meeting the minimum criteria doesn’t guarantee approval.

Does the American Express Business Line of Credit show up on your credit report?

Yes, the American Express Business Line of Credit can show up on your personal credit report. If your account becomes delinquent or defaults, American Express reports it to consumer credit bureaus, which could impact your personal credit score. Plus, applying for the line of credit involves a hard inquiry, which may cause a temporary dip in your score.

How do rates and fees work on the American Express Business Line of Credit?

Instead of a traditional interest rate, American Express charges a fixed monthly fee based on your loan term. Each time you withdraw funds, it becomes a separate loan with a repayment term of 6, 12, 18 or 24 months and the fee is spread out over that period. There are no origination fees, prepayment penalties or annual fees, but you’ll want to review the fee structure carefully to understand the total cost.