AMEX Business Platinum EIN question

[Anonymous]

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)

[drboxing]

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

[Anonymous]

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@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)

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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.

[Anonymous]

Good to know. Thanks for the input.

[Anonymous]

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@Anonymous wrote:

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@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)

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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.

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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. 

[Anonymous]

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

[Anonymous]

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@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

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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.

[Anonymous]

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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.

[Creditaddict]

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@Anonymous wrote:

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@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)

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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.

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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.

[rebuildingincb]

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

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