AMEX Eligibility - Cashback Everyday Credit Card

Grumpy_chap

I've been thinking for a while that an AMEX card would be useful and we need to pay for our new sofa soon so I thought the introductory offer (5% cashback) would be helpful.

I used the AMEX eligibility checker and it indicated a negative response. I think because the salary I entered was too low compared to the AMEX minimum threshold.

However, my salary is only low because I work for my own Ltd Co so receive a salary of £12.5k but then receive dividends. I entered the dividends under the "other income" category. The eligibility checker only asked for "salary" and then for "other income" but did not ask for anything beyond that or further details of what the other income comprises.

I was wondering whether I should have simply entered the total as "salary" and then "other income" as zero.

I wonder whether I can now just make an application and enter the total as "salary" but then thinking that the AMEX system would see the change between the eligibility checker and the application and decline for that reason.

Director and Shareholder of own Ltd Co., paying low salary and then dividends is not a wholly unusual scenario and one imagines that AMEX would be keen for a slice of that market spend.

Does anyone have any insight as to how an individual in my position can successfully apply for an AMEX card?

Paul_01

I’m also a Director of my own business, and my income is similar to yours in terms of being mainly dividends.

I always put my average income, including dividends, into the income box.

I have two Amex cards.

Grumpy_chap

Many thanks @Paul_01

So, when I did the eligibility checker, it had

- a field for employment status, which I put "employed"

- a field for annual personal income, which I put my salary £12.5k "Your personal annual pre-tax income"

- a field for "Other personal income (optional) which I put the value of dividends. "Additional personal annual income"

The eligibility checker said not eligible so I did not apply. Possibly because the salary is below the £15k per year threshold (or whatever minimum AMEX apply).

So, you seem to be suggesting I should have put my "salary plus dividends total" in the earned income box and then left the additional income box blank.

FWIW - that seems daft to have the two income types split if additional income is not then considered - lots of examples such as Director of own Ltd Co., pension income, BTL income.

Anyway, I did the eligibility checker a few weeks back. If I now redo that but putting "salary plus dividends" in the salary box and then leave other income blank, will AMEX link today's submission to the submission in February and decline because they don't trust the data as accurate? Even though the total income declared will be the same value.

MattMattMattUK

I got one four years ago, my income is similar, £12,600 PAYE and the rest through dividends, it did not go through automatically but it said I would get a decision in 3-5 working days, then got approved the next working day. I cannot remember exactly where I put my dividend income, it it was just "other" you say it is now, or if it was more specific.

Grumpy_chap

These are the two fields in the eligibility checker:

So I entered my salary in the first box and dividends in the second box.

The "not eligible" was instant via the eligibility checker. I never proceeded to make an application.

I noticed today there is also an eligibility requirements list available (which I did not see before):

Hence why I think the instant "not eligible" was linked to salary in the first box. That does raise the question what the purpose of the second box is.

I wonder if I just go ahead now with an application rather than the eligibility checker whether the AMEX system will compare the date I enter today (putting salary plus dividends in the first box and nil in the second box), will that be treated as a 'clean' fresh application or will it be linked back to the eligibility checker I did a few weeks back and bounce on the variance?

The good thing about an application now is that I can give an exact figure for actual annual (tax year) salary and dividends.

HillStreetBlues

For me the second box makes no sense as it doesn't quantify what to enter in the first box.
If it was me I would ignore second optional box and enter all my income in whatever form in the first box.

Grumpy_chap

Thanks for the comments.

I think I will go ahead and apply for the card, entering my salary plus dividends into the first box and leaving the second box blank.

I will ignore any small values attached to interest and also ignore the (BIK) value of my company car.

Hopefully, this will be successful. If it is not, I don't actually need the credit so only really lose the potential for the cashback promotion. There would be a failed application in my credit history files but I don't think that matters either as I will not be looking for an alternative credit if this AMEX application fails.

Is there any downside to just going for it that I've not considered?

Desmond_Hume

Does the sofa supplier accept Amex?

Grumpy_chap

https://forums.moneysavingexpert.com/discussion/comment/81958565#Comment_81958565

Yes. Fenwick.

Grumpy_chap

OK, so I decided to go for the application to AMEX and it asks different questions from the eligibility checker.

First, employment status. I suppose I should select "business owner":

Then income type:

So I suppose I select "salary" and also "investment" with the latter covering the dividends from the Ltd Co. of which I am shareholder and Director.

Would anyone see an alternative interpretation?

HillStreetBlues

I would agree if it lets you tick more than one box.