Amex question if I should apply if I have one?

chris288 · ‎02-11-2014

I am thinking of applying for an AMEX card but wanted to get some opinions first to see if this would matter. I currently have an AMEX Business card through my company for expense travel. It has my name, my companies name (because they back it) and everything is attached and comes to my address. The card does NOT have a limit (except anything over 35K purchase has to be called in) and over the past 2.5 years I have averaged 2-3 K per month on the card.

My credit was pulled and its good (mid 750's) when I applied 2.5 years ago. My question is will they look at the history from my business card to approve myself a personal AMEX card, or is it looked at totally differently?

Half my cards have high limites (Navy 25k) Usaa 20k) and so forth so I was thinking AMEX should give me a high limit based off my history with them, but the card was a business card.

Thinking of adding another high limit card to my "card collection" but wanted to get the advice from anyone familiar with AMEX cards.

Josh2942 · ‎02-11-2014

I can't speak from experience because I only have personal cards thru Amex, but if your business card is on your personal credit as we'll than I see no problem with you easily getting a personal card. However, the best way to find out is by asking. Call the backdoor number and ask a credit rep of they will take that into consideration.

Jaguar F-Type R Loan 50K Balance
Goldman Sachs Signature Loan $29,000 TU 750 score pulled at time of loan.
Student Loan Debt $1,500
Credit Card Debt $300 1>% of $166,700
FAKO Transunion 723 Equifax 744
What's in my wallet? Chase Sapphire Reserve, Chase Freedom Unlimited, and AMEX Blue for Business

Creditaddict · ‎02-11-2014

Yes! Apply, I bet it's a very nice approval!

FastForward · ‎02-11-2014

@chris288 wrote:
I am thinking of applying for an AMEX card but wanted to get some opinions first to see if this would matter. I currently have an AMEX Business card through my company for expense travel. It has my name, my companies name (because they back it) and everything is attached and comes to my address. The card does NOT have a limit (except anything over 35K purchase has to be called in) and over the past 2.5 years I have averaged 2-3 K per month on the card.

My credit was pulled and its good (mid 750's) when I applied 2.5 years ago. My question is will they look at the history from my business card to approve myself a personal AMEX card, or is it looked at totally differently? Not sure that your business card will be taken into consideration especially if it isn't reporting on your CR or factored into your CS. However, maybe it'll help somewhat with your internal score with AmEx if they have you & your SS# in their system as an ACM....just not sure how that all comes into play as far as AmEx is concerned. Either way, if your EX CS is still anywhere close to 750, my guess is that this would increase your chances.

Half my cards have high limites (Navy 25k) Usaa 20k) and so forth so I was thinking AMEX should give me a high limit based off my history with them, but the card was a business card. Having higher CLs most certainly will help, but I think your income, overall utilization & overall debt to income would be more of a factor with AmEx in determining your CL. If those things support having another 5-digit CL, you probably have a decent shot. But, even if your starting CL is lower than you would've hoped for, it can absolutely grow into a very nice CL within the first 12 months.....AmEx is known for their 3x/generous CLIs, starting from the 61st day your new account is open.

Thinking of adding another high limit card to my "card collection" but wanted to get the advice from anyone familiar with AMEX cards.

Having a personal AmEx in your card collection would absolutely be a nice addition. Which one are you considering?
Also, if you do apply for 1 & get approved, try for another one (immediately afterwards/same day). Good chance you may get 2 AmEx cards with just 1 HP!

AmEx PRG (NPSL) | AmEx BCP (10k) | AmEx Blue Cash (1k) | AmEx SPG (3.5k) | Barclay Arrival WMC (7.5k) | Barclay Sallie Mae (1.5k) | Cap1 QS (2k) | Chase Freedom (1k) | Discover IT (4.5k) | InTouch (Local) CU MC (5k) | InTouch (Local) CU LOC (25k)

Citi/Best Buy (AU) (1.5k) | Citi/Best Buy (7.5k) | Comenity/Crate & Barrel (4k) | Comenity/Restoration Hardware (9k) | GE/Ethan Allen (2.5k) | Synchrony Bank/Banana Republic (3.3k) | Synchrony Bank/Gap (3.3k) | Synchrony Bank/Walmart (3.3k)

myFICO scores ~ 691 (EQ) 670 (EX) 712 (TU) || Goal scores: 750+ (all 3)

takeshi74 · ‎02-12-2014

@chris288 wrote:
Half my cards have high limites (Navy 25k) Usaa 20k) and so forth so I was thinking AMEX should give me a high limit based off my history with them, but the card was a business card.

I wouldn't recommend just assuming. Creditors have differing critiera. My BCP's initial limit was about half of my highest limit card when I applied.

@chris288 wrote:
Thinking of adding another high limit card to my "card collection" but wanted to get the advice from anyone familiar with AMEX cards.

The "should" is for you to determine based on your needs/wants etc. I'd suggest getting one even just to establish your personal MSD for backdating. Your personal cards will not be backdated to your business MSD.

@chris288 wrote:
It has my name, my companies name (because they back it)

I doubt they'll consider the history on that account if that's the case. If you owned the business and personally backed the card that might be different but I can't speak to their internal scoring. It's definitely not taken into consideration on your credit reports.

chris288 · ‎02-12-2014

Thanks for the feedback to everyone on this. I like the calling of the backdoor numbers when I apply. I might do that and call back and apply for 2 on the same day. The line does not report to any of my CB's, but they do have my SSN's and all statements come to my home address.

I did have to apply for the card, but its backed by the employeer I work for. I am sure when I apply they can see all the history and 2-3k a month I pay on the card to help with the limit and approvals.

When I apply I will let everyone know what they say.

As far as which AMEX to apply for does anyone have any suggestions on what is best? I see some on here with Blue Cash, Regular AMEX, Hilton, etc?

I think most all their cards have a pay in full monthly is my understanding correct? Only used AMEX with my employer and its paid in full monthly, so I dont know if they carry like my other CC.

Thanks for the help again.

Creditaddict · ‎02-12-2014

I would suggest Blue Cash Preferred

longtimelurker · ‎02-12-2014

I think most all their cards have a pay in full monthly is my understanding correct? Only used AMEX with my employer and its paid in full monthly, so I dont know if they carry like my other CC.

Thanks for the help again.

Amex has both credit cards and charge cards. After a period of time, you can be offered pay-over-time on the charge cards, but by default they are pay in full.

longtimelurker · ‎02-12-2014

@Creditaddict wrote:
I would suggest Blue Cash Preferred

Sorry, but why? It depends on OPs spending patterns and goals. If OP wants cash back, and spends a fair amount of money on supermarkets, gas and select department stores, yes. If it's a lot of spending on supermarkets/gas/drug stores, Blue Cash is better. If travel is the goal, then there are other cards.

Don't get when people name a card without knowing more details.

chris288 · ‎02-12-2014

Thanks for the reply for the Blue Cash Preferred. Well mainly gas, supermarkets (groceries/ walmart) Then of course I would replace my company AMEX I use for expenses with my personal AMEX for Flights, Gas, Rental Cars, Hotels, Resturants, Client Dinners, etc.

Would love to pay all my bills with it... Mortgage (understanding this is hard to do) Utilities, Auto, etc.

That is pretty much my spending habits.