Billionaire Lord Alan Sugar has publicly criticized American Express after his request for a credit limit increase was rejected, despite his estimated net worth of roughly £1.1 billion to £1.3 billion, according to the Sunday Times Rich List 2026.
Banking Frustration
The 79-year-old business tycoon, known as the face of BBC's The Apprentice, took to X to slam the credit card company, blaming "their system" for the refusal. He described spending an hour on the phone, being passed to four different people, before finally speaking to someone in the UK at Brighton who recognized him and his financial status, yet the request was still denied.
Lord Sugar's rags-to-riches journey from an East London council flat to billionaire status in 2015 has been well-documented, but his banking struggles highlight that even the wealthy can face bureaucratic hurdles.
Public Reaction
One X user commented: "If you're worth £1.1billion why do you need credit?" To which Lord Sugar replied: "DO PRACTICE BEING AN IDIOT. I DON'T WALK AROUND WITH BAGS FULL OF CASH. I NEED A CREDIT CARD TO BUY THINGS."
Another user sympathized: "If even Lord Sugar gets bounced around for an hour and then rejected by 'the system', what hope is there for the rest of us mere mortals? Classic bank experience."
However, one user shared a positive experience: "Have had @AmericanExpress @AmexUK with no upper limit for years, they have been the best card company so far in every way possible Hopefully they fix it for you @Lord_Sugar soon."
Background
Lord Sugar has faced personal struggles as well, including losing his sister Shirley and brother Derek in 2020, and has admitted in his 2010 autobiography to feeling he "fell a long way short" as a father and son, being "too selfish" to spend enough time with his children or elderly mother.
The Mirror has contacted American Express for comment.
