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American Express® Business Line of Credit Reviews & User Insights

American Express® Business Line of Credit is suitable for small businesses seeking straightforward access to capital without a lengthy application process. They are ideal for cyclical businesses that need funds during periods when business is slow. Startups and small businesses have much to gain from the American Express® Business Line of Credit.

American Express Business Line of Credit
4.5
Loan Amount
Loan Amount $2K-$250K
Loan Repayment
Apply online in a few simple steps
Gordon Scott
Written by:Gordon Scott
Chartered Market Technician (CMT)

Reviewed by: Sarah Brooks, Personal Finance Writer and Editor

Fact Checked by: Somer G. Anderson, Accounting and Finance Professor

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Many or all of the products featured here are from our partners who compensate us. This may affect which companies we write about and where the company appears on a page. However, any analyses, or reviews expressed in this article are those of the author’s alone, and have not been approved or endorsed by any partner.

The information on this page has not been updated since September 13th 2023

Our Verdict

A line of credit is the only type of business loan American Express Business BlueprintTM program offers right now. The major strength of American Express® Business Line of Credit is their convenient application process. Not only can you get through the application in a matter of minutes, but, once you get approved, you can expect to receive the funds in a timely manner. Moreover, American Express Business Line of Credit has a minimum FICO score requirement of at least 660 at the time of application. The required FICO score may be higher based on your relationship with American Express, credit history, and other factors. However, all businesses are unique and are subject to approval and review.

In this review, our team of expert reviewers has thoroughly analyzed and evaluated American Express Business Line of Credit. We will share our findings and provide our expert insights on why American Express Business Line of Credit is one of the best small business loans out there.

American Express® Business Line of Credit Reviews - What People Say Online

Most customer reviews highlight American Express® Business Line of Credit’s ease of use, flexible access, and helpful service team. However, if you take a closer look at the customer service ratings on Trustpilot and Consumer Affairs, you’ll notice a few interesting things.

Understanding Review Discrepancies

American Express Business Line of Credit has great reviews on Trustpilot based on automated invitations that the company sends out to its customers. Specifically, 82% of these come back as “excellent,” and only a few stated otherwise.

kabbage trustpilot reviews

However, the picture is completely different with organic reviews, where a customer submits the review on their own. Among organic reviews, 93% of customers rate their American Express Business Line of Credit experience as “bad.

While this does create a huge disparity with reviews from automated invitations, it is important to note that organic reviews are typically driven by people who wish to complain. As such, you can expect more negative ratings rather than positive ones.

While American Express Business Line of Credit does receive positive reviews, the majority of them are negative. However, most of the negative feedback is related to American Express Business BlueprintTM banking side and not their business line of credit product.

Trustpilot Rating

American Express® Business Line of Credit is rated 307 out of 324 of the financial companies in the Financial Consultant category of Trustpilot. It is also rated 200 out of 207 best companies within the category of Non-Bank Financial Service.

While these numbers aren’t great, it is important to always use your own judgment when evaluating alternative lending sources. American Express Business Line of Credit is still in the process of gaining momentum, and they might offer just the right solution for your small business. 

Summarized Ratings

Loan Features3
Interest Rates & Fees3
Qualification Leniency4.7
Application Process5
Customer Support4
User Reviews4.6
Perks and Bonus5

This parameter considers loan terms, repayment optionality, and loan limits. For each financing arrangement offered, each of these features was evaluated using the five-point scoring system. Then, the various scores were aggregated and averaged to establish an overall loan features score.

American Express Business Line of Credit gets a 3.0 for Loan Features. This slightly below average score reflects competitive loan terms (up to 18 months), a flexible monthly repayment option, but low loan limits (< $250K).

What is American Express® Business Line of Credit?

American Express Business BlueprintTM hosts the American Express® Business Line of Credit product. It uses an automated application process to provide loans in a timely manner to qualifying candidates.

Small businesses from a variety of industries can typically get a response to their loan application after applying online in a few simple steps. However, the ease of access might mean higher interest rates and a personal guarantee. The business line of credit from American Express ranges from $2,000 to $250,000.

 

American Express® Business Line of Credit Pros and Cons

Pros
Great for borrowers with fair monthly revenues
Straightforward application process
Excellent customer service
No prepayment penalties
Cons
High rates
Complicated fee system

American Express® Business Line of Credit Loan Features

American Express Business Line of Credit ranges from $2,000 to $250,000, with six, 12, or 18-month terms. American Express Business Line of Credit also provides a host of analytical features with dashboards and payment processing facilities. You need to sign a personal guarantee, but you do not have to supply any collateral for the line of credit.

As an unsecured loan, business lines of credit provide borrowers with a set limit of funds to draw against as needed. You pay interest only on the open balance and there are no prepayment penalties. Lines of credit are paid back within six, 12, or 18 months.

Term Length6, 12, or 18 months
Repayment PeriodMonthly
Min-max Amount$2,000 to $250,000

American Express® Business Line of Credit Interest Rates And Fees

Loan amounts range between $2,000 and $250,000, with available loan payback periods of six, 12, and 18 months. Instead of charging a regular interest rate, American Express Business Line of Credit charges a fee each month based on your outstanding balance. Each month, you’ll make your principal payment along with this fee.

For six-month terms, fees range from 3-9%; 12-month terms range from 6-18%; and 18-month terms range from 9-27%.

Origination Fees None
Prepayment Fees None
Late Payment Fees Late fees may be assessed
Monthly Fee Six-month term: 3-9%
12-month term: 6-18%
18-month term: 9-27%

American Express® Business Line of Credit Loan Eligibility Requirements

To qualify for a American Express Business Line of Credit, the company is going to take a close look at your monthly business revenue, your length in business, and your credit history. The minimum requirements are outlined below.

Minimum Credit ScoreMinimum FICO score of at least 660 at the time of application
Average Monthly RevenueAverage monthly revenue of at least $3,000
Minimum Time in BusinessHave started your business at least a year ago

American Express Business Line of Credit performs a hard credit inquiry during the preapproval process, whereas other lenders wait to do a hard credit pull once you’ve already been prequalified for the loan. This is something to keep in mind if you plan on shopping around for your loan.

American Express® Business Line of Credit Application Process

1. Provide Personal and Business Information

Applying for a American Express Business Line of Credit can be completed in just 10 minutes. Simply fill out your name, Social Security number, business name and industry, address and phone numbers, and your business ID. Next, you’ll consent to a hard credit inquiry and wait for a funding decision. If additional information is required, it may take longer to get a final decision.

2. Link Your Bank Account

At the end of the application, you’ll be asked to link your business bank account. This is done for two reasons: (1) This is where your funds will arrive if approved for the loan, and (2) This is where loan repayments will be made.

Linking your bank account is often the case with any alternative lending source, as it ensures fast and convenient services while protecting the lending companies themselves.

How American Express® Business Line of Credit Determines Loan Amount

During the application stage, the representatives at American Express Business Line of Credit perform a hard pull on your credit. While the minimum FICO score is at least 660* at the time of application, they will also examine your credit history to determine your risk and verify your identity.

As mentioned earlier, American Express might also ask for additional information to offer you a more significant credit line. American Express will examine your transaction volume, monthly revenue, and credit score to determine whether you qualify for a loan and how much should be sanctioned to you. It also considers the loan term you’re applying for.

Your chances of approval also depend on whether the term lasts for six, 12, or 18 months. Six-month loans are the most common, and the rates vary depending on the month. If approved, you can request an American Express Credit card directly from your credit line.

American Express® Business Line of Credit Customer Support

  • Help Center: You can use the American Express Business Line of Credit help center at any time to find answers to your questions. It contains a wealth of information about applying for funding, making repayments, funding fees, and more.
  • Phone & Email Support: If you’d like to speak to a customer service representative, you can reach out to American Express at 888-986-8263 M-F from 8 am to 9 pm EST.

There are mixed reviews about American Express Business Line of Credit customer support, with many complaining about long response times. Others, though, praise the American Express customer service experience and have no complaints regarding wait times.

American Express® Business Line of Credit Perks and Bonuses

Flexibility

American Express states that it will work with you in times of hardship to determine a solution. The lender recommends you contact them right away if you find yourself struggling to repay your loan.

Transparency

The American Express website is professional and transparent. It outlines the benefits of its business loans and offers a “Get Started” button that prompts you to create an account so you can apply for funding. In addition, the website explains how its fee structure works and features a list of frequently asked questions.

Technology

When you commit to an American Express Business Line of Credit, you automatically enroll in Autopay so the lender can withdraw your repayment each month on your due date, making paying back your loan convenient.

With the American Express Business Line of Credit app, you easily apply for funds and can get approved in a timely manner. You may also use the app to withdraw the amount of money you need and keep tabs on your account while you’re on the go.

American Express® Business Line of Credit Alternatives

Fundbox

Fundbox is an alternative lender to American Express Business Line of Credit if you’re looking for a term loan or business line of credit. Fundbox offers both, with amounts ranging from $1,000 to $150,000. Rates start at 4.66% for lines of credit and 8.33% for term loans. Payments are made weekly, and Fundbox does not charge any origination, maintenance, or prepayment fees.

To qualify for a short-term loan or line of credit from Fundbox, you’ll need to have a minimum FICO score of 600, be in business for six months, and have an annual revenue of $100,000 or more. American Express Business Line of Creditrequires one year in business, so if your business is relatively new, Fundbox could be worth considering.

Learn more about how these lenders compare in our American Express Business Line of Credit vs. Fundbox review

Bluevine

Bluevine is another good, alternative option to American Express Business Line of Credit. Loan amounts are the same ($2,000-$250,000) and like American Express Business Line of Credit, Bluevine only offers a business line of credit. Rates start at 4.8% and are made weekly or monthly over six or 12 months. If you’re in need of a longer loan term, American Express Business Line of Credit does offer 18-month terms so that is something to consider.

Bluevine has a streamlined online application and you’ll get a funding decision within just five minutes of applying. If approved, your funds can be in your account in as fast as 24 hours. Qualifications include a minimum credit score of 625, six months in business, and $10,000 in monthly revenue.

Learn more about how these lenders compare in our American Express Business Line of Credit vs. Bluevine review.

Additional Alternatives

LenderLoan AmountInterest RatesMin. time in businessMin. Revenue
Biz2Credit$25K - $6 millionStarting at 7.99%6 months$250K
CrediblyUp to $400KStarting at 6.99%2 years$100K
OnDeck$6k - $250KVaries1 year$100,000

Final Thoughts

American Express Business Line of Credit small business lines of credit work best for stable businesses who need quick funding and are able to pay it back fast. American Express Business Line of Credits monthly fees can be high, so if you can’t pay the loan off quickly, it may be best to look elsewhere. However, if you can manage the cash flow quickly, this could present a great lending source.

Frequently Asked Questions(FAQ)

Are there any hidden charges?

American Express Business Line of Credit has something of a unique business model, but it is 100% transparent. You pay back the principal and the interest on the principal, with higher rates of interest during the start of the loan. There are no additional fees or charges as it is a completely automated process.

Is my data safe when I use American Express Business Blueprint?

American Express Business Blueprint has ‘read-only’ access to your bank account and software accounts such as PayPal and Quickbooks. They cannot withdraw or deposit funds. All data sent to American Express uses 128-bit encryption. Lending institutions are subject to strict regulations when it comes to data management

Is American Express Business Line of Credit good for business?

American Express Business Line of Credit is a good option if you’re a business with fair or poor credit and need access to working capital. If you’re having trouble qualifying for financing elsewhere, it’s certainly worth considering. Keep in mind that American Express Business Line of Credit only offers lines of credit, so you won't be able to pursue term loans, invoice financing, or other types of business loans.

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

It’s fairly easy to obtain funding from American Express Business Blueprint since the lender is flexible. You don’t need perfect credit and can get approved if you’ve been in business for at least one year with a monthly revenue of $3,000 or more. American Express Business Line of Credit should be on your radar if you’re struggling to secure a business loan with other lenders.

What credit score do you need for American Express Business Line of Credit?

American Express Business Blueprint extends loans to borrowers with a FICO score of 660 or higher. The required FICO score may be higher based on your relationship with American Express, credit history, and other factors. Despite this minimum credit requirement, the lender will also consider the number of years you’ve been in business and your average monthly revenue to calculate your credit limit and fees.

Does American Express do a hard credit check?

Yes, American Express will perform a hard pull on your personal and business credit scores during the application process. Keep in mind that this might cause your scores to dip temporarily. As long as you repay your loan on time and in full, your credit score should go back up.

About the Author

Gordon Scott

Gordon Scott

Chartered Market Technician (CMT)

Gordon Scott is an author, trading instructor, trading coach and curriculum developer for financial education. He served as the managing director for the CMT Association from 2013 to 2018, overseeing the development and production of the CMT exams and their curriculum.

More about me

Reviewed by: Sarah Brooks

Personal Finance Writer and Editor

Sarah Brooks is a personal finance writer and editor with more than 10 years of experience. She specializes in personal and business loans, mortgages, auto loans, and credit cards.

More about me

Fact Checked by: Somer G. Anderson, Ph.D., CPA

Accounting and Finance Professor Ph.D., CPA, CGMA, CFE

Somer G. Anderson has been working in the accounting and finance industries for over 20 years as a financial statement auditor, a finance manager in a large healthcare organization, and a finance and accounting professor. Over that time, she's earned a doctorate in personal financial planning and her CPA, CGMA, and...

More about me