Amex Simply Cash not reporting to credit bureaus

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Mogul of Pineapples
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Amex Simply Cash not reporting to credit bureaus

Postby Mogul of Pineapples » Wed Dec 17, 2008 8:22 pm

I did my free annual credit report today with the 3 bureaus and was disappointed to see that my primary card, my American Express Simply Cash, was not anywhere to be found. After quite a few phone calls I come to find out that Amex does not report business cards even if they are sole proprietorship like mine is. Sounds like they're the only one that does this because I know other creditors do report business cards as long as they use your social security number on them instead of a separate tax ID.

Just wanted to post this as a warning to anyone out there with Amex Simply Cash or other business credit cards, as they won't be showing up on your credit file.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred


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Cucumber
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Postby Cucumber » Thu Dec 18, 2008 12:41 pm

That sux big time.

My dad had a similar thing happen and I *think* there's some option you can do through Dun and Bradstreet that you can pay to have your business stuff reported on your personal credit file. You may wanna check that out but I don't know how much it costs....
OBAMA
Stop talking crap about him!

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The Fuzz
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Postby The Fuzz » Thu Dec 18, 2008 4:35 pm

Pay late a couple times and see how fast it shows up. ;) Credit reports are used as a collection tool more than anything else. You won't find your cell phone on your credit report either unless you pay late on it or get it charged off. Since it costs money to report to the bureaus you'll find that many companies (power, gas, rent, etc) don't even both reporting unless you go dilenquent on them. It may be that you won't see some accounts on there, but since all small business cards are the responsibility of the cardmember who applied for them, it will get reported on your personal credit report if it gets reported at all. The only type of card that won't hold you personally liable are corporate cards that get issued to you. My AMEX that is issued by my department doesn't show up on my credit report, but my three other AMEX accounts (two of which are business cards) show up. Blue and Plum for business are reporting on my three bureau reports, so don't be surprised if they show up at some point.

I'll do a little research and find out if there are any cards that we don't report as a matter of policy. Well, cards we don't report until they go dilenquent, that is. ;) I'm sure we'd report anything that could be used as a black mark.

RCNitro
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Postby RCNitro » Thu Jan 29, 2009 5:59 pm

I'm looking for an online credit monitoring and three bureau report with score service ($10/month?) that will send me an updated report when I ask for it, or at 30 day updates. Any recommendations?

I used PrivacyGuard (~$120 annual) for awhile which worked okay, although sometimes did not seem to alert me on credit changes when it should have. I believe PG refreshed my report and scores every 30 days.

Now trying BofA Privacy Assist at $12.99 per month after free trial, but it will only update my report every 90 days. 'Seems like a lot could happen in three months before I would see an updated report...? They're supposed to monitor fraudulent use, and they must pay everytime to pull updated reports, but at $150+ per year for quarterly updates, it seems like I could just pay for my own reports.

Other services give only single bureau updates for $7.99 monthly, and I have used my free annualcreditreport.com

Anyway, just keeping a very close watch on everything to be safe...not paranoid!

CFAlevel3
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Postby CFAlevel3 » Sat Jan 31, 2009 5:01 pm

B of A Privacy Assist is a very overpriced credit monitoring service. I'm not up to speed on which are charging the best prices right now but essentially they are all the same as long as they perform checks at least once a month. The Experian Triple Alert is $4.95 per month and does all 3 credit bureaus. That may be one you'd want to look into further.



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