Will AMEX GREEN help my FICO and my small business???

[phoenix1963]

Currently I purchase $3k-$4k/mo. worth of supplies for my business each month. I use my VISA Business Debit Card - In other words, I pay cash for my supplies with the debit card each month. Obviously the debit card does not report this activity.

I have a bank issued VISA with a $5k limit that I do not use because I understand that maxing out the card with a high monthly utilization hurts me, even though I would pay it off in full every month.

QUESTION: Would it help my credit score if i got a AMEX Green Card and charge the $3k-$4k worth of supplies to it every month, and then pay it off in full every month? Would this be a score "booster"?

Thanks for your replies!!

[Juss11]

First you might aswell get the Amex PRG. I hear if you can get the green you can get the gold. Also I read where a poster said, they used there personal Amex for there business and Amex cancelled them.

[user5387]

I would suggest using a business CC for this purpose, and not mixing business and personal.

As already mentioned, mixing the two may violate the T & C of the card, and may also make record-keeping a hassle.

Some business CCs report to personal credit, and some don't.  Whether such reporting is desirable depends on your situation.

If you're going to max the business CC, it would be better if it does NOT report to personal.

I myself use Chase Ink and Citibusiness MC cards.  If I had a high level of spending, I might look at one of the Amex or Chase business charge cards.

[Creditaddict]

I would also get the American Express Business Gold Charge over green.

Also while your at it if you only have 1 personal credit card, I would consider adding another 2 or 3, then if you were to use 1 card quite high in a month it wouldn't hurt your score is much because you would have the other credit lines balances out the utilization until you pay in full.

[CreditUnionFan]

---

@phoenix1963 wrote:

Currently I purchase $3k-$4k/mo. worth of supplies for my business each month. I use my VISA Business Debit Card - In other words, I pay cash for my supplies with the debit card each month. Obviously the debit card does not report this activity.

I have a bank issued VISA with a $5k limit that I do not use because I understand that maxing out the card with a high monthly utilization hurts me, even though I would pay it off in full every month.

QUESTION: Would it help my credit score if i got a AMEX Green Card and charge the $3k-$4k worth of supplies to it every month, and then pay it off in full every month? Would this be a score "booster"?

Thanks for your replies!!

---

There are multiple options for business credit cards, and while you can use your personal cards for business, you really should have distinct credit cards. It'll make your financial record-keeping easier, and builds your business credit report.

There are some OK offerings from credit unions for business cards, but I carry an Amex and a few of the Chase business card offerings.

[GuyInFlorida]

Open an Amex OPEN Business CC and stop paying cash! Cashflow managment is so important to a small business, how would you like an extra 25 days of float on your supply costs?

As for Green vs PR Gold (Premier Rewards Gold, because regular Gold is pointless)-- if you have a lot of "spend" in the categories that get 2x-3x points, then PR Gold is a good choice. Otherwise, Green has a lower AF.

I recently had a mailer for 75K bonus points for signing up Amex OPEN PR Gold-- which would be awesome if you could find that deal online.

[leegreen]

DW has Amex OPEN Green. It does not report to her personal reports at all. YMMV