topic AMEX Personal or Business 1st? in Credit Card Applications

AMEX Personal or Business 1st?

Anonymous — Fri, 18 Jun 2021 03:45:13 GMT

Hello All!

I was recently approved for a Navy Federal AMEX card $25K Limit.🎉

It hasn't shown up on my credit report yet and now I want an official AMEX.

My other cc only has a $3600 CL. Do you think AMEX only seeing $3600 and not the $25k will cause them to low ball me? If I let it show up would I have a better chance at a much higher limit? And would I need to wait 6 months since the new account will have shown up.

Which is easier to get 1st a Personal or Business? In order to get business card, does it have to be structured as an LLC or is Sole propietorship ok?

Also are they still pulling Experian?

Someone told me they soft pulled all three bureaus but hard pulled Experian👀 Are they new account and new hard Inquiry sensitive?

I know this is a lot of questions, but experienced AMEX cardholder responses are appreciated.

Re: AMEX Personal or Business 1st?

OmarGB9 — Fri, 18 Jun 2021 17:44:16 GMT

Please keep any CC talk strictly to personal here. If you wish to know about business CCs, head to the appropriate business CC forum and ask your questions there.

Anyway, whether you let the $25k CC report or not won't matter. In the end, Amex (and any lender, really) will approve you for whatever they're comfortable with, if they approve you at all. Chase occasionally matches/tries to match limits, but there's no concrete evidence of that.

Yes Amex hard pulls Experian. I don't know if they SP all 3 bureaus, but it wouldn't surprise me if they did; they want the full picture. I don't think they're too new account/inquiry sensitive, but they are definitely sensitive to negatives on one's file.

Re: AMEX Personal or Business 1st?

babygirl1256 — Fri, 18 Jun 2021 06:29:14 GMT

Congrats on your NFCU AmEx card -and- awesome SL. My NFCU account reported to the CRAs after my 2nd statement generated. In reference to AmEx ~ As previously stated by OmarGB9, "In the end, Amex (and any lender, really) will approve you for whatever they're comfortable with, if they approve you at all."

Re: AMEX Personal or Business 1st?

pizzadude — Fri, 18 Jun 2021 13:50:41 GMT

Congrats on the NFCU approval! My experience, I think AMEX is sensitive to thin credit profiles, so I'd for sure wait for your other CC to report before you apply.

Here's a recent thread from the biz credit forum related to AMEX:

https://ficoforums.myfico.com/t5/Business-Credit/Business-credit-card-with-no-EIN-still-separate-from-consumer/td-p/6351542

Re: AMEX Personal or Business 1st?

Anonymous — Fri, 18 Jun 2021 17:42:55 GMT

@pizzadude wrote:
Congrats on the NFCU approval! My experience, I think AMEX is sensitive to thin credit profiles, so I'd for sure wait for your other CC to report before you apply.

I don't agree that Amex is sensitive to thin credit profiles. Amex and Discover are frequently recommended as a first or second card precisely because they are accepting of thin profiles. A seach of the Credit Card Approvals forum would show this to be true.