topic Re: Business credit and Amex hard pulls in Business Credit

Business credit and Amex hard pulls

Anonymous — Wed, 10 Nov 2021 19:58:11 GMT

I recieved my first Amex rewards card with a limit of 14k through NFCU August of this year. My flagship card with NFCU 2 years prior opened with a 25k limit. After 3 billing cycles and with average credit scores of 778 I applied for an Amex Blue business cash credit card. It was a second hard pull on my personal credit and had only a 4k limit. My trucking business is 3.5 years old with a good paydex score, and over 45k in my account. My business account is attached to my NAV and other business reporting for quicker lender viewer for a more favorable decision. I had no inquires before the first Amex rewards card on any of the bureaus. Now I have 2 and both from Amex. The reason I chose to do amex for a 2nd time is because across several platforms I am seeing they dont do hard pills after you are a card holder. Even when calling the customer service business line the rep couldn't confirm if a credit limit increase would result in a hard pull. What am I not factoring in when I see people constantly showing multiple Amex cards saying it's from one inquiry?

Re: Business credit and Amex hard pulls

JL276 — Wed, 10 Nov 2021 20:27:18 GMT

The NFCU Amex is underwritten and issued by NFCU and is branded Amex, similarly to how a bank issues Visa or Mastercards. Only cards issued by American Express count. Therfore you have 1 AMEX card from American Express, the other card is a NAVY card. Hope that makes sense.

Your second card with AMEX has a good chance of being a SP all mine were sp after the initial HP. YMMV I also applied for my last card with all reports frozen and was approved for BIZ Cash instantly. Not saying to do that but I forgot to unfreeze them.

also you can apply for CLI online, no need to call in.

Re: Business credit and Amex hard pulls

ScorpioRising — Wed, 10 Nov 2021 21:04:11 GMT

@Anonymous wrote:
I recieved my first Amex rewards card with a limit of 14k through NFCU August of this year. My flagship card with NFCU 2 years prior opened with a 25k limit. After 3 billing cycles and with average credit scores of 778 I applied for an Amex Blue business cash credit card. It was a second hard pull on my personal credit and had only a 4k limit. My trucking business is 3.5 years old with a good paydex score, and over 45k in my account. My business account is attached to my NAV and other business reporting for quicker lender viewer for a more favorable decision. I had no inquires before the first Amex rewards card on any of the bureaus. Now I have 2 and both from Amex. The reason I chose to do amex for a 2nd time is because across several platforms I am seeing they dont do hard pills after you are a card holder. Even when calling the customer service business line the rep couldn't confirm if a credit limit increase would result in a hard pull. What am I not factoring in when I see people constantly showing multiple Amex cards saying it's from one inquiry?

To add to @JL276's post, I have 6 Biz cards, including the charge cards from Amex and 2 personal ones. One hard pull for the initial credit card app, which was the Amex Prime Biz card. The rest are all from soft pulls.

Re: Business credit and Amex hard pulls

Anonymous — Fri, 04 Mar 2022 17:47:17 GMT

Thanks this did help alot!

I forgot I posted this.

Re: Business credit and Amex hard pulls

Anonymous — Fri, 04 Mar 2022 17:49:06 GMT

Great to know! Thank you ScorpioRising!

Re: Business credit and Amex hard pulls

pizzadude — Fri, 04 Mar 2022 18:26:19 GMT

@JL276 wrote:
The NFCU Amex is underwritten and issued by NFCU and is branded Amex, similarly to how a bank issues Visa or Mastercards. Only cards issued by American Express count. Therfore you have 1 AMEX card from American Express, the other card is a NAVY card. Hope that makes sense.

Your second card with AMEX has a good chance of being a SP all mine were sp after the initial HP. YMMV I also applied for my last card with all reports frozen and was approved for BIZ Cash instantly. Not saying to do that but I forgot to unfreeze them.

also you can apply for CLI online, no need to call in.

Good callout that this is a YMMV situation. Some people get a HP but most have reported that they do not.