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New Business Amex Questions

Fr0zen
Valued Member

New Business Amex Questions

I have a new corporation with a partner that is less then a year old. I do not have much of a personal credit history, neither does my partner. He has one auto-loan that has never been late in 3 years. I just got my first card last fall. What are the odds of us getting an Amex using his SSN for the personal guarantor? His auto-loan has never been delinquent and has always been paid on time. 

 

As for the Amex vs other cards - we're pretty set on Amex. The card has everything we're looking for and also opens the door to the Centurion card which we really want. 

 

Any feedback would be greatly appreciated. 

Message 1 of 21
20 REPLIES 20
Rebuild2022
Super Contributor

Re: New Business Amex Questions

You could apply for Personal Gold Charge or Business Gold Charge card and see if they would approve you. As long as you or your partner does not have negative information on your credit report you should be able to get the card. Stay away from Amex Credit Cards, they are very hard to get and Amex is slowly trying to get out of the credit card business and focus on their charge cards. Good Luck.
Gardening since 08/2020
Message 2 of 21
CHARGE_IT
Regular Contributor

Re: New Business Amex Questions

Hi,

Could you please provide a link or reference to your info concerning the definite closing of AMEX credit cards.

 

Thanks,

CI


@Rebuild2022 wrote:
You could apply for Personal Gold Charge or Business Gold Charge card and see if they would approve you. As long as you or your partner does not have negative information on your credit report you should be able to get the card. Stay away from Amex Credit Cards, they are very hard to get and Amex is slowly trying to get out of the credit card business and focus on their charge cards. Good Luck.

 

Message 3 of 21
Fr0zen
Valued Member

Re: New Business Amex Questions

The Plum is technically a credit card correct?
Message 4 of 21
Rebuild2022
Super Contributor

Re: New Business Amex Questions


@Fr0zen wrote:
The Plum is technically a credit card correct?

Technically it is a charge card. You can call it Hybrid if you want. If you want you can pay 10% of the statement due and defer the balance for 60 days without interest. Though the feature is there, it is normally not advisable to defer payment with Amex. Your best bet for a new company is Gold Charge Card. Once you use it for some time then ask them to upgrade to Plum.

Gardening since 08/2020
Message 5 of 21
Fr0zen
Valued Member

Re: New Business Amex Questions

What about plat is that harder to get then the gold? 
Message 6 of 21
Fr0zen
Valued Member

Re: New Business Amex Questions

Bad news my partner was denied for both personal and business cards. He has a fairly high credit score 709 Experien and 690 Transunion, but has no revolving credit being reported except some old cards he was an authorized user on. Our next idea is to add his father which has a relationship with American Express as a director to the corporation and apply for a card, or have his father add us as authorized users to his account, but that would get messy from an accounting standpoint. 

 

We tried getting the business gold and personal green. I cannot apply for any more cards - I've had 6 inquires in the last 12 months. I also just got a Chase personal card in November as my first credit card.  

 

Any feedback would be greatly appreciated  

Message 7 of 21
Rebuild2022
Super Contributor

Re: New Business Amex Questions

Not sure what is the objective for you in establishing business credit. There are lot of good cards and credit sources for business besides Amex, What is the nature and type of business? Is it incorported? Does it have D&B number? There are lot of business tradelines you can establish for your business with out PG and not even giving your SS Number. I am not sure why are focusing so much on one card. If we know what you are trying to do then we can help you better.

Gardening since 08/2020
Message 8 of 21
Fr0zen
Valued Member

Re: New Business Amex Questions

The business is incorporated. The business type is marketing, internet marketing to be exact. I'm stuck on Amex because it's a great card. We spend a lot currently and would love the perks a platinum has to offer in terms of traveling and points. The thought of easily upgrading to the centurion after being a card member for 1 full year is also very exciting. It's a huge status symbol in our industry that attracts a lot of attention and business in itself. I will go as far as saying that it's an absolute must have. 

 

I know many people are not fond of Amex on these boards because of how picky they're, but I'm very fond of their cards. 

 

As for D&B, no we don't. I should probably get a free number, I've done that on some of the other companies I own, does it really help? 

Message 9 of 21
montana
Frequent Contributor

Re: New Business Amex Questions

amex has you hooked on some Higher society card that if you get it- then all your troubles go away. blah blah blah.

all you have to worry is earning income as much as you can and all the right offers will come your way. Best amex cards are credit cards and not charge cards.

To get amex blue:

1. apply for delta skymiles.

2. When you get that card, call the number on the back and ask rep on the fone to have a" product change" to amex blue cash or whatever you like.

3. Enjoy your prime card that needs high fico to get if applied directly for it.

 

You're on your way to the upper crust of amex heaven if you charge and pay in full on this card.

Good luck.

Message 10 of 21
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