Sole traders often seek the flexibility and benefits of owning an American Express (AMEX) card, but the application process can be daunting and unfortunately, applications are frequently denied by AMEX.

Understanding the Hurdles:

AMEX's application process for sole traders involves rigorous scrutiny. They typically request various documents, including proof of past self-employed income and expenses, forecasts of future income and expenses, a signed letter from a Chartered Accountant, and confirmation of prior years’ tax filings directly from the government.

Numerous instances have shown that even with complete documentation provided to support this process, AMEX frequently denies applications, leaving many sole traders frustrated and confused.

How Hnry can help:

Hnry’s accounting team is dedicated to supporting our users throughout the application process. Along with offering guidance and assistance wherever possible, we will also provide our users the necessary documents requested by AMEX, such as proof of income, expense records, official tax filings and a signed letter from a Chartered Accountant.

Application approval process:

Despite the best efforts of the Hnry team to meet AMEX's requirements, the final decision ultimately rests with AMEX and unfortunately, AMEX frequently denies applications.

Due to the lack of clarity from AMEX regarding their specific requirements, we recommend exploring alternative financial solutions while keeping an eye on developments in AMEX’s policies, hoping for a more transparent and accessible process for sole traders in the future.