topic Re: AMEX Business Platinum EIN question in Business Credit

AMEX Business Platinum EIN question

Anonymous — Wed, 10 Jan 2018 22:31:19 GMT

If I apply for a Business Platinum card (well, I already did), would this impact my personal credit scores since I did not provide my SSN? (I used my EIN)

Re: AMEX Business Platinum EIN question

drboxing — Wed, 10 Jan 2018 22:51:04 GMT

When I applied for the AMEX Business Platinum, I used my EIN number but they also asked for my SS#. Was approved

Re: AMEX Business Platinum EIN question

Anonymous — Wed, 10 Jan 2018 23:28:38 GMT

@Anonymous wrote:
If I apply for a Business Platinum card (well, I already did), would this impact my personal credit scores since I did not provide my SSN? (I used my EIN)

No, it will not affect your personal credit. You applied with no personal guarantee. This will make it harder to get approved unless your business has awesome credit. But your personal credit wont even get an inquiry at all.

If you did put your SSN, you would be liable for negative performance such as default on the card, but Amex does NOT report business cards to personal credit.

Re: AMEX Business Platinum EIN question

Anonymous — Thu, 11 Jan 2018 01:09:45 GMT

Good to know. Thanks for the input.

Re: AMEX Business Platinum EIN question

Anonymous — Thu, 11 Jan 2018 01:38:25 GMT

@Anonymous wrote:
@Anonymous wrote:
If I apply for a Business Platinum card (well, I already did), would this impact my personal credit scores since I did not provide my SSN? (I used my EIN)
No, it will not affect your personal credit. You applied with no personal guarantee. This will make it harder to get approved unless your business has awesome credit. But your personal credit wont even get an inquiry at all.

If you did put your SSN, you would be liable for negative performance such as default on the card, but Amex does NOT report business cards to personal credit.

This is not correct. He absolutely personally guaranteed the credit application. The only time that you are getting an Amex or most business credit cards without any kind of PG is if you are a large corporation and then you doing so under a corporate application. When you apply with an EIN, you are also asked for your SSN in the application. While the account won’t report to his personal credit unless he defaults, if there was an inquiry such as if he has no existing Amex account, then the inquiry would definitely show on your personal credit report. And the HP could minimally affect his credit scores. If he does default then Amex will come after him personally as he did PG the account whether using a SSN or EIN for the business.

Edit to note. If you apply for a business card from your existing Amex account it may or may not ask for your SSN if you provide your EIN. Nonetheless you are still PGing the account because they are using criteria from the info they have on file.

Re: AMEX Business Platinum EIN question

Anonymous — Thu, 11 Jan 2018 15:22:24 GMT

OK so I was approved for that Business Platinum not 5 min ago....here's some details of that call... The rep asked me to confirm my last 4 SSN and date of birth. This indicates me that my ID was being validated (as used by the AMEX portal and existing accounts) for anti fraud purposes. Then I asked specifically if there is any link whatsoever between my personal credit and the business credit.....I was told "no there is not." Also, I have had corporate AMEX cards in the past that were paid way late (because of expense reporting approvals and such), yet, AMEX still found it acceptable to issue me 4 cards in the last 6 months. Also, rep said he knows of no limit for the number of cards you can apply for or approved for, over a period. Based on my experience, I'd conclude that personal card and business card activities are kept isolated from each other

Re: AMEX Business Platinum EIN question

Anonymous — Sat, 13 Jan 2018 00:31:14 GMT

@Anonymous wrote:
OK so I was approved for that Business Platinum not 5 min ago....here's some details of that call... The rep asked me to confirm my last 4 SSN and date of birth. This indicates me that my ID was being validated (as used by the AMEX portal and existing accounts) for anti fraud purposes. Then I asked specifically if there is any link whatsoever between my personal credit and the business credit.....I was told "no there is not." Also, I have had corporate AMEX cards in the past that were paid way late (because of expense reporting approvals and such), yet, AMEX still found it acceptable to issue me 4 cards in the last 6 months. Also, rep said he knows of no limit for the number of cards you can apply for or approved for, over a period. Based on my experience, I'd conclude that personal card and business card activities are kept isolated from each other

They definitely aren’t kept separate. Even the amount of credit that Amex will extend to you is a combination of both your personal and business card limits. One thing that you will discover about Amex is that many of their front line reps give out completely incorrect information (true about a lot of credit companies) and often are clueless about the company’s own policies. The only way that they are kept separate is that nothing is reported to your personal credit unless you default. I can assure you that if you default on your business Platinum, it will definitely adversely affect your personal credit. Corporate cards are completely different and a late payment on one of them only affects the corporate credit standing with Amex and wouldn’t prevent you from getting personal or business cards with them. There also is a limit of cards that you can get. It is 5 revolvers and it doesn’t matter whether they are personal or business. You can be approved for every charge card they issue if your credit warrants it but the revolvers are maxed.

Re: AMEX Business Platinum EIN question

Anonymous — Mon, 15 Jan 2018 08:54:29 GMT

This is not correct. He absolutely personally guaranteed the credit application. The only time that you are getting an Amex or most business credit cards without any kind of PG is if you are a large corporation and then you doing so under a corporate application. When you apply with an EIN, you are also asked for your SSN in the application. While the account won’t report to his personal credit unless he defaults, if there was an inquiry such as if he has no existing Amex account, then the inquiry would definitely show on your personal credit report. And the HP could minimally affect his credit scores. If he does default then Amex will come after him personally as he did PG the account whether using a SSN or EIN for the business.

I see, I didn't think of them using SSN data they already have from your personal CC with them. I know they want at least 2 years of business to do a business only card only but I don't know about the needing to be a large corp part. I was taught they wanted the 2 years in business and you needed to show profits.

Re: AMEX Business Platinum EIN question

Creditaddict — Mon, 15 Jan 2018 17:08:53 GMT

@Anonymous wrote:
@Anonymous wrote:
If I apply for a Business Platinum card (well, I already did), would this impact my personal credit scores since I did not provide my SSN? (I used my EIN)
No, it will not affect your personal credit. You applied with no personal guarantee. This will make it harder to get approved unless your business has awesome credit. But your personal credit wont even get an inquiry at all.

If you did put your SSN, you would be liable for negative performance such as default on the card, but Amex does NOT report business cards to personal credit.

You have to PG an American Express Business Card but it will only be a HP on your personal credit if this is your first Amex card and then will not report to your personal credit unless you default on the account.

Re: AMEX Business Platinum EIN question

rebuildingincb — Mon, 22 Jan 2018 20:47:44 GMT

I applied for an AmEx BCE, in the application I listed I was self employed, I was approved instantly, then immediately they offered me an AmEx Gold Business card. Obviously I had already given them my SS so they asked for the EIN.

Heck I was just stoked to get my first AmEx, let alone my first card for my business is an AmEx. I feel like I am amember of a secret club now! LOL

Re: AMEX Business Platinum EIN question

DapprD — Wed, 14 Mar 2018 01:49:39 GMT

How did you apply with no personal guarantee?

Re: AMEX Business Platinum EIN question

Anonymous — Wed, 14 Mar 2018 03:09:41 GMT

@DapprDwrote:
How did you apply with no personal guarantee?

You can't. Amex does not offer a no PG option for any of their small business cards. Neither do most other creditors.

Re: AMEX Business Platinum EIN question

DapprD — Wed, 14 Mar 2018 21:55:52 GMT

The OP snootypoodle said:

If I apply for a Business Platinum card (well, I already did), would this impact my personal credit scores since I did not provide my SSN? (I used my EIN)

How is that possible ???

Re: AMEX Business Platinum EIN question

Anonymous — Thu, 15 Mar 2018 00:09:12 GMT

@DapprDwrote:
The OP snootypoodle said:

If I apply for a Business Platinum card (well, I already did), would this impact my personal credit scores since I did not provide my SSN? (I used my EIN)

How is that possible ???

You need to read the whole thread. The OP was an existing Amex customer so they know his SSN. I'll say it again, it isn't possible to get any Amex small business credit card without a PG. The only business cards that don't require PGs are the Corporate cards which were not what the OP applied for. The OP did PG the card whether he realized it or not when he applied.

Re: AMEX Business Platinum EIN question

DapprD — Mon, 19 Mar 2018 22:08:50 GMT

GOT IT! Thanks @Irish80 !!!

Re: AMEX Business Platinum EIN question

Anonymous — Tue, 20 Mar 2018 11:55:11 GMT

@DapprDwrote:
@GOT IT! Thanks @Anonymous !!!

You’re very welcome and I apologize I sounded harsh in my response. I just want it to be clear to everyone so that others won’t apply for an Amex or other creditors’ small business major credit cards (Visas, MasterCards and Amex) and think that they are not PGing the card when they are. There are a few like the BJ’s Mastercard that can be had without a PG but they are very small in number.

Re: AMEX Business Platinum EIN question

601flyguy — Thu, 22 Mar 2018 04:47:09 GMT

Do they even pull your business credit?? Would it affect me negatively by using my newly formed llc ein vs my 4yo sole prop ein?

Re: AMEX Business Platinum EIN question

Anonymous — Thu, 22 Mar 2018 12:52:09 GMT

@601flyguywrote:
Do they even pull your business credit?? Would it affect me negatively by using my newly formed llc ein vs my 4yo sole prop ein?

No. To my knowledge they do not. Even though you apply using the Business' EIN, you still provide your SSN. Your Sole Prop EIN is your SSN....a Sole Prop is you, doing business as "business name" and is still you. Which is Irish's point, no matter how you apply for an Amex (Small) Business card, there will be a personal guarantee by the applicant. Regardless of how you apply.

I dont think there is any negative effect. Simply a hard pull on your personal CR for new accounts.

Hope that clears things up.

Re: AMEX Business Platinum EIN question

Anonymous — Thu, 22 Mar 2018 21:45:03 GMT

@Anonymouswrote:
@601flyguy
Your Sole Prop EIN is your SSN....

A sole proprietor can have an EIN separate from their SSN (in fact they can have more than one)

Re: AMEX Business Platinum EIN question

Anonymous — Thu, 29 Mar 2018 23:57:50 GMT

You cannot have more then one attached to you as a sole proprietor.