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First Business Card

Established Contributor

First Business Card

DW is going to take her "side job" of photographing family and events to the next level and make it a full fledged part time business.  We want to get a business CC to track all her business expenses, but neither of us has had experience with such a product.  Is it a pull on a personal CR or a business CR.  If it is business, her CR would be blank, so how would she be approved? We were thinking of the Plum card, we already have a Plat, BCE, and HH Surpass so a good relationship with Amex.  I know this is a pretty broad question but I also know there is someone here who can break it down for me.  Thanks in advance.

About $215,000 total credit among 11 cards
Message 1 of 8
7 REPLIES
Valued Contributor

Re: First Business Card

You may get more responses in the Business Credit part of the forum.

CH7 Discharged: 4-14-16
Rebuilding in Progress.....
May 2016 - EX: 594, TU: 582, EQ: 619
July 2016 - EX: 629, TU: 600, EQ: 622
Message 2 of 8
Super Contributor

Re: First Business Card


n777ua wrote:

DW is going to take her "side job" of photographing family and events to the next level and make it a full fledged part time business.  We want to get a business CC to track all her business expenses, but neither of us has had experience with such a product.  Is it a pull on a personal CR or a business CR.  If it is business, her CR would be blank, so how would she be approved? We were thinking of the Plum card, we already have a Plat, BCE, and HH Surpass so a good relationship with Amex.  I know this is a pretty broad question but I also know there is someone here who can break it down for me.  Thanks in advance.


I heard Plum Card is a little bi tougher to get. Do you have any other business card with other banks?  Yes, it will pull EXP.  Why do you want to get Plum instead of other Amex business?

 

 

Ron.

Message 3 of 8
Established Contributor

Re: First Business Card


Ron1 wrote:

n777ua wrote:

DW is going to take her "side job" of photographing family and events to the next level and make it a full fledged part time business.  We want to get a business CC to track all her business expenses, but neither of us has had experience with such a product.  Is it a pull on a personal CR or a business CR.  If it is business, her CR would be blank, so how would she be approved? We were thinking of the Plum card, we already have a Plat, BCE, and HH Surpass so a good relationship with Amex.  I know this is a pretty broad question but I also know there is someone here who can break it down for me.  Thanks in advance.


I heard Plum Card is a little bi tougher to get. Do you have any other business card with other banks?  Yes, it will pull EXP.  Why do you want to get Plum instead of other Amex business?

 

 

Ron.


Honestly IDK, just always liked the pre-pay discount on the Plum.  We have no other business CC accounts.  I'll also post in the business credit forum (which I didn't realize there was one until today).  Cheers...

About $215,000 total credit among 11 cards
Message 4 of 8
Super Contributor

Re: First Business Card

I think Simply Cash business card better for cash back. Plum Card is good for spreading the payment for two months.

 

 

Ron.

Message 5 of 8
Frequent Contributor

Re: First Business Card

AMEX will pull her personal CR, but the account will report to the business CR.  The charge cards are typically easier to be approved for than the revolvers, at least for starting busnesses with a short history.  I'm not sure about the Plum.  I have the Business Gold and the Plum didn't exist yet when we got the account.  I do remeber that we originally applied for one of the revolvers, but didn't get it do to short business history, but were able to get the Gold after waiting a few months.  


Current:
TU (5/14/14): 796 (Inquiries; 8/23/13)
EQ (3/23/14): 791 (Inquiries: 8/23/13)
EX (9/24/13): 780 (Inquiries: 7/2/12; 11/20/12; 7/30/13; 8/23/13)

Goals: No new inquiries for 2014, 800 for all CRs by 12/31/14
Message 6 of 8
Established Contributor

Re: First Business CC

It's a pull on personal credit and biz cred if applicable. See my reponse on establishing biz credit here:

 

http://ficoforums.myfico.com/t5/Business-Credit/Establishing-Business-Credit/td-p/1489340

 

But either way, you'll usually need some track record of business to be considered. And maybe not. I honestly don't have experience in seeking cards for new businesses. I bought an established biz of 30 years and then didn't apply for biz credit cards until I owned the biz for 10 years.

 

Requirements can vary. Best bet is to call the app line for a biz card you are interested in and ask them what they require from the biz side to be considered. It may not be much. 

Start (Sept 2011): low-mid 600s. NOW: TU FICO: 801, EQ FICO 808, EX FICO 798 (PSECU). Goal: Achieved! Now Maintain!
Message 7 of 8
Highlighted
Epic Contributor

Re: First Business Card

Plum i fantastic but only if you are going to pay in 10 days and get the discount and Simply Cash probably will be better rewards until you clear a pretty good amount of spending or if you never hit the cateories of the Simply Cash... Plum is 2% for first 90 days I believe then 1.5%.

If you have 3 Amex Cards already they probably wouldn't blink to give you 1 or 3 business cards!

Capital One has a new Business Cash with flat 2% on all but it pulls all 3 HP of personal credit and then reports to personal credit

Chase ink doesn't report to personal, but will pull personal and not sure the rewards all that great compared.

 

Message 8 of 8