Would I Qualify For Amex Business and What Do AMex Class As Business Expense?

[tankmc]

I run a travel YouTube channel and am thinking about applying for the AMEX Business Platinum card, but I have a couple of concerns that I’d love some insight on.

1. Would I qualify?
Our channel is structured as a partnership between my partner and me. We have a business bank account, but it’s in my partner’s name. However, I handle all the finances, so I’d prefer the card to be in my name. We file a partnership return and self-assessment every year, but I’m wondering if this setup would cause any issues with the application. Has anyone been in a similar situation?

2. What counts as a business expense?
Being a travel channel, our main expenses are things like airline tickets, hotel stays, cruises, and resorts. While these could easily be mistaken for personal expenses, they’re all essential to running the channel (something we’ve already had to explain to our accountant). I’ve heard that AMEX scrutinizes personal vs. business expenses, so I’m curious if anyone has had any experience with this and how strict they are.

Any advice or experiences would be greatly appreciated!

[TGLoyalty]

I think you’re perhaps overthinking this someone with a buy to let would qualify and no business account is required.

All the expenditure you mention would likely be fine, as plenty companies go on business travel. I mean even shopping in you local grocery store would be a valid expense for a catering company or even for your own Friday wind down office bash but if/when AMEX decide they want to know more just have a good explanation ready.

I think the only potential hiccup is the bank account is in your partners name not the businesses? Amex can get funny about the name on accounts that pay the bill but it’s fine until they contact you and when they do you could always transfer the money to your bank account and then pay the bill.

Intrigued to know what the YouTube channel is now lol

[Flying]

Like TGL said you’re overthinking it and would be fine – all expenses seem justified too.

Re banking and paying, all fine too but on a random note when it comes to paying the balance on your business Amex, they recently told me it is fine to pay by either business account or personal account. It’s only the personal amex you HAVE to pay using a personal bank account and not business else Amex will flag it.

[Rob]

I pay my Bus Plat off a personal account.

You’re overthinking the rest of it. Amex knows what personal spending looks like and does not care about one offs.

Just remember that the places you visit are paying far higher fees to handle your card and be responsible towards independents.

[danimal]

Open the account in your partner’s name and then get a supplementary card in your name if that is an issue – 6000 bonus MR points the supp card as well!

[memesweeper]

Rob Burgess wrote:

Just remember that the places you visit are paying far higher fees to handle your card and be responsible towards independents.

If they use Square, SumUp or any of the other challengers with “blended rates” — as many small indies do — they will probably see no fee difference between credit/debit amex/visa/mc business/personal or uk/foreign. I certainly don’t.