topic Re: American Express and Experian hurting my credit in Business Credit

American Express (Amazon Business) and Experian hurting my credit

Anonymous — Tue, 13 Apr 2021 22:35:57 GMT

I have an American Express card. I was informed by Amex that my credit limit was reduced from $5000 to $1000 because Experian reported to Amex that I have several late payments and one or more seriously delinquent accounts. None of which is true and all 3 credit bureaus show no late payments, including Experian. I have a letter from Amex stating Experian reported this to them. I have tried several times to address this with Experian to no avail. This has impacted my credit availability and my credit score all due to the incompetence of Experian reporting information that is inaccurate or Amex lying saying Experian reported this information. In one conversation with Experian, they claimed Amex hasn't pulled my report since I received the Amex credit card last year. The damage is done and now Experian won’t even speak to me. The supervisor hang up on me when I was trying to explain the problem. I have tried no less than 3 phone calls and countless emails to get help. I also filed a complaint with the BBB. The only help Experian offers is to file a dispute with creditor. And they sent my credit report to show nothing negative on my account, ever! My dispute is with Experian, not my creditor. Or is it with my creditor? Nothing changed on any credit bureau before or after my limit was reduced. Either American Express didn't really pull my report (according to Experian), or Experian reported wrong to American Express even though my credit reports are correct and all accounts always have been in good standing. All I know is I'm the one who has been hurt in their scheme and neither company seems very concerned with it. What am I supposed to do? It's like I have no options for what they do with my credit scores. I never came close to my limit on Amex and was never late. Actually, I always paid my balance monthly or bi monthly at worst!

Re: American Express and Experian hurting my credit

K-in-Boston — Tue, 13 Apr 2021 16:03:00 GMT

It seems like Experian may have temporarily had erroneous information. While Amex may not have done a hard inquiry since you first opened the account, they do SP monthly in order to provide you with your Experian FICO 8 score, which they use to manage all accounts. I would wait until Amex does their next pull and is reflecting a correct Experian FICO 8 score, then call them back to discuss the matter.

Re: American Express and Experian hurting my credit

Anonymous — Tue, 13 Apr 2021 16:36:47 GMT

Thanks for your reply. ")

I have been addressing this or trying to since February and Amex has pulled my report again but still refuses to return my limit to what it was. They just sent another letter stating what Experian reported to them and directly naming Experian. Crazy thing is that my credit score is better now than when I received the card! Early last year, Bank of America closed my account right after I paid them off, again with no negative information on my reports and no late payment or over limit with them either.
I've done everything possible as a small business owner to keep my accounts in excellent standing especially through coronavirus, only to have two creditors impact my credit scores without any negative information. These are two businesses I will never do business with again. I suppose I have to rebuild my credit with other creditors.
Thanks again for your reply. ")

Re: American Express and Experian hurting my credit

Anonymous — Tue, 13 Apr 2021 19:06:27 GMT

OP, out of curiosity, how was your profile as a whole, specifically your utilization of your credit lines? This relates to all lines, not just BoA or Amex. Were you carrying high balances on any cards, especially for an extended time? Creditors SP reports and focus on all accounts, not just theirs, and especially during Covid, they have been more sensitive to utilization with so many people losing income. If you had higher balances for an extended time, even if elevated but not as high as during good times, that may have been enough for the AA you've seen.

Re: American Express and Experian hurting my credit

FinStar — Tue, 13 Apr 2021 20:10:25 GMT

Out of curiosity, which AmEx card is this @Anonymous?

Re: American Express and Experian hurting my credit

Anonymous — Tue, 13 Apr 2021 20:27:26 GMT

All of my credit balances are lower than when I first got the Amex card and my credit score is better. And the Amex is through Amazon. Thank you for your reply ")

Re: American Express and Experian hurting my credit

GApeachy — Tue, 13 Apr 2021 20:42:59 GMT

@Anonymous wrote:
All of my credit balances are lower than when I first got the Amex card and my credit score is better. And the Amex is through Amazon. Thank you for your reply ")

So you're talking about Business CC's, right? Amex Amazon Biz card for one...correct? So is it Experian Business cb that you were speaking with or Exp. personal you were speaking with? Do you have Biz cr's that you monitor?

Re: American Express and Experian hurting my credit

Anonymous — Tue, 13 Apr 2021 20:48:09 GMT

The Amex card is related to my business because of business Amazon account. The BOA was personal. And as far as reviewing credit history, not for my business, only personal. This is the only card ever related to business and business is connected to my SSN as well as all CC I have or had.
I was speaking only with Experian personal as there is where the information came from, per Amex hard copy letter.
thank you "))

Re: American Express and Experian hurting my credit

GApeachy — Tue, 13 Apr 2021 20:50:40 GMT

What's the actual name of the Amex card you have then?

Re: American Express and Experian hurting my credit

RSX — Tue, 13 Apr 2021 20:54:46 GMT

ugh - sucks that this has happened

since Amex is causing you some pain with resolving this, is applying for the Chase Amazon card worth it right now?

do you have less than 5 CC's in the last 24 months?

that Amex $5k wasn't a lot to begin with for business purchases, so you might do better with Chase

Re: American Express and Experian hurting my credit

dragontears — Tue, 13 Apr 2021 21:56:05 GMT

@Anonymous wrote:
The Amex card is related to my business because of business Amazon account. The BOA was personal. And as far as reviewing credit history, not for my business, only personal. This is the only card ever related to business and business is connected to my SSN as well as all CC I have or had.
I was speaking only with Experian personal as there is where the information came from, per Amex hard copy letter.
thank you "))

If Amex is a business card it is not reporting to your personal reports so how is the CLD "hurting" your credit????

With this being your second AA from 2 different lenders there is something going on with your profile. What are your current scores?

Re: American Express and Experian hurting my credit

Anonymous — Tue, 13 Apr 2021 22:37:08 GMT

@GApeachy wrote:
What's the actual name of the Amex card you have then?

American Express Business Prime

Re: American Express and Experian hurting my credit

Anonymous — Tue, 13 Apr 2021 22:02:47 GMT

I haven't applied for any other accounts and don't plan to. I'll stick with the other CC accounts and put my business there for now. Don't want to get another ding for applying.

Re: American Express and Experian hurting my credit

Anonymous — Tue, 13 Apr 2021 22:39:08 GMT

@dragontears wrote:
@Anonymous wrote:
The Amex card is related to my business because of business Amazon account. The BOA was personal. And as far as reviewing credit history, not for my business, only personal. This is the only card ever related to business and business is connected to my SSN as well as all CC I have or had.
I was speaking only with Experian personal as there is where the information came from, per Amex hard copy letter.
thank you "))
If Amex is a business card it is not reporting to your personal reports so how is the CLD "hurting" your credit????

With this being your second AA from 2 different lenders there is something going on with your profile. What are your current scores?

Because it's all tied to my SSN. And I've wondered how Experian reported inaccurate information to Amex because my report hasn't had one negative thing on it. That's the whole problem. There has never been anything negative on it.

Re: American Express and Experian hurting my credit

GApeachy — Tue, 13 Apr 2021 22:53:56 GMT

@Anonymous wrote:
@dragontears wrote:
@Anonymous wrote:
The Amex card is related to my business because of business Amazon account. The BOA was personal. And as far as reviewing credit history, not for my business, only personal. This is the only card ever related to business and business is connected to my SSN as well as all CC I have or had.
I was speaking only with Experian personal as there is where the information came from, per Amex hard copy letter.
thank you "))
If Amex is a business card it is not reporting to your personal reports so how is the CLD "hurting" your credit????

With this being your second AA from 2 different lenders there is something going on with your profile. What are your current scores?
Because it's all tied to my SSN. And I've wondered how Experian reported inaccurate information to Amex because my report hasn't had one negative thing on it. That's the whole problem. There has never been anything negative on it.

Because Experian reports to Experian Business credit report. You can sign up to NAV and get your scores from them and go from there.(exp, dnb, eq)

I have a paid subscription to Experian Business credit report, if you need to check to see if perhaps there are negatives on your biz report from local vendors, etc. I hope not but if so, it's better to know than not.

Re: American Express and Experian hurting my credit

WayneSki — Tue, 13 Apr 2021 22:59:45 GMT

@Anonymous wrote:
@dragontears wrote:
@Anonymous wrote:
The Amex card is related to my business because of business Amazon account. The BOA was personal. And as far as reviewing credit history, not for my business, only personal. This is the only card ever related to business and business is connected to my SSN as well as all CC I have or had.
I was speaking only with Experian personal as there is where the information came from, per Amex hard copy letter.
thank you "))
If Amex is a business card it is not reporting to your personal reports so how is the CLD "hurting" your credit????

With this being your second AA from 2 different lenders there is something going on with your profile. What are your current scores?
Because it's all tied to my SSN. And I've wondered how Experian reported inaccurate information to Amex because my report hasn't had one negative thing on it. That's the whole problem. There has never been anything negative on it.

So this is a personal card that you use for your business?

Just asking because a business credit card that you PG'd, shouldn't affect your personal credit unless you default.

Re: American Express and Experian hurting my credit

dragontears — Tue, 13 Apr 2021 23:02:07 GMT

@Anonymous wrote:
@dragontears wrote:
@Anonymous wrote:
The Amex card is related to my business because of business Amazon account. The BOA was personal. And as far as reviewing credit history, not for my business, only personal. This is the only card ever related to business and business is connected to my SSN as well as all CC I have or had.
I was speaking only with Experian personal as there is where the information came from, per Amex hard copy letter.
thank you "))
If Amex is a business card it is not reporting to your personal reports so how is the CLD "hurting" your credit????

With this being your second AA from 2 different lenders there is something going on with your profile. What are your current scores?
Because it's all tied to my SSN. And I've wondered how Experian reported inaccurate information to Amex because my report hasn't had one negative thing on it. That's the whole problem. There has never been anything negative on it.

And??? I have business cards through my SSN and they don't affect my credit unless I was to default...

What are your current scores?

Re: American Express and Experian hurting my credit

Anonymous — Wed, 14 Apr 2021 00:00:55 GMT

I guess I stated incorrectly. My credit has been impacted by what Experian reported to Amex. Not my credit score. Thereby, impacting my credit. I hope that's more clear. And I apologize if I wasn't clear enough in earlier posts. I have not defaulted on any accounts anywhere, personal or business. Thank you for your reply.

Re: American Express (Amazon Business) and Experian hurting my credit

Anonymous — Wed, 14 Apr 2021 01:52:03 GMT

@Anonymous wrote:
I have an American Express card. I was informed by Amex that my credit limit was reduced from $5000 to $1000 because Experian reported to Amex that I have several late payments and one or more seriously delinquent accounts. None of which is true and all 3 credit bureaus show no late payments, including Experian. I have a letter from Amex stating Experian reported this to them. I have tried several times to address this with Experian to no avail. This has impacted my credit availability and my credit score all due to the incompetence of Experian reporting information that is inaccurate or Amex lying saying Experian reported this information. In one conversation with Experian, they claimed Amex hasn't pulled my report since I received the Amex credit card last year. The damage is done and now Experian won’t even speak to me. The supervisor hang up on me when I was trying to explain the problem. I have tried no less than 3 phone calls and countless emails to get help. I also filed a complaint with the BBB. The only help Experian offers is to file a dispute with creditor. And they sent my credit report to show nothing negative on my account, ever! My dispute is with Experian, not my creditor. Or is it with my creditor? Nothing changed on any credit bureau before or after my limit was reduced. Either American Express didn't really pull my report (according to Experian), or Experian reported wrong to American Express even though my credit reports are correct and all accounts always have been in good standing. All I know is I'm the one who has been hurt in their scheme and neither company seems very concerned with it. What am I supposed to do? It's like I have no options for what they do with my credit scores. I never came close to my limit on Amex and was never late. Actually, I always paid my balance monthly or bi monthly at worst!

Sorry to hear about this trouble you're having with AMEX. AMEX is a tough nut sometime. I had something similar happen a few years ago with a personal Hilton card. AMEX reduced my limit to 1k citing information on my credit report, that wasn't accurate, and refused to review for accuracy. So I charged about $500 the next month and paid it when the statement cut, and a few days later they restored my limit back to what it had been and sent me a letter stating due to recent payment, they were restoring my original credit limit.

I also recently posted another weird situation with AMEX refusing me a CLI citing they couldn't grant my request due to payment history reported by other creditors. Since I always PIF and most of time pay AMEX when a charge posts, not even waiting for the statement to cut, I was scratching my head. 3 months later I try again and instantly approved for a 5k CLI.

I hope you are able to resolve this issue, and can get the limit restored.

Re: American Express (Amazon Business) and Experian hurting my credit

Anonymous — Wed, 14 Apr 2021 02:51:05 GMT

@Anonymous @Thank you for your reply. Your situation sounds quite similar. I'm so glad for you that it was handled more quickly and without the hassle. The most frustrating part is Amex saying Experian reported negative information and Experian says they did not as there is no negative. Maybe in time this will work itself out. ")