I have seen the waiting list and I believe it is new. I mentioned in another thread (or this one?) that it doesn't surprise me. I can't speak to Square's rationale, but remember this IS an American Express card. I'd imagine that Amex's agreement with Square calls for a rigorous vetting process since that is how they handle their own company-issued cards. I've not seen much chatter about this on this board, though. Like you said, it is a new product. It has been tested and rolled out slowly and carefully and, honestly, that gives me some hope that it is ready for prime time. One last thing -- given the very rocky economic outlook, a waitlist seems like a wise plan on Square's and Amex's part. The last thing any of them (or any of us who depend on the financial stability of Square) want or need is a mountain of uncollectible card debt on Square's balance sheet next year. Better safe, than sorry.
I don't know what you mean by is that a good thing, @Paulynne.. Yes, it's a good thing that Square is continuing to expand their financial offerings to its sellers. But if you are asking if it's a good indication that you, personally, might qualify for a card, there is absolutely no way to guarantee that. Take it at face value -- there is a new card option being offered, there is a waitlist, you joined it and were told you'd hear back. Those are facts. Beyond that, looking into our crystal balls is not wise or productive.
Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)
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