Amex Business vs. Personal Charge Cards

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Moneytalks
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Amex Business vs. Personal Charge Cards

Postby Moneytalks » Mon May 14, 2012 9:15 am

So, I know there are a few differences between the two, but still have some questions:

1.) Do business cards get factored into your credit score? (Sole proprietorship for example)

2.) Does the company issue the card to you, or do you request to have one? (since the company is the one paying the bill in a corporate scenario)

Thanks for the input!

*And if my understanding is completely wrong, please correct me!
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PlatinumAMEX94
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Postby PlatinumAMEX94 » Mon May 14, 2012 10:47 am

In the 90's I had a gold charge card issued by my SSN/sole prop. and it never showed up on my credit report. American Express does not report trade lines to credit agencies, and if they did, it would be on a Dunn & Bradstreet.

So to answer your question, it will only be affected if you don't pay your bills. NONE of my business credit cards/charge cards show up on my personal credit reports.

Once the account has been approved it is automatically shipped to the billing address on file, usually to the account holder to distribute.
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2percentPlus
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Postby 2percentPlus » Tue May 15, 2012 11:29 pm

My business card doesn't show up on any credit reports. It was originally a sole proprietorship and I believe I gave them the tax ID and my SSN for personal guarantee. They didn't require more than a SSN though. I now have a corporation so should probably get a new business card for that, I don't know where it's reported. I thought you had to subscribe to D&B in order to have a report with them.

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Postby Money card » Sat May 19, 2012 11:12 pm

no.1 is only if you own a business.
no.2 the company decides if they want to have a company card. if they do they would give you the card of their choice.
you don't apply for a company card. unless you are a vice president, an authorizing officer, etc.

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Postby Crashem » Sun May 20, 2012 1:12 pm

1) if business has tax Id, the Amex business cards do not reflect on your personal credit report whether you 100% own the business or none of it. However, if you are personally guaranteeing it, you will potentially get an inquiry on your credit report and any negative information such as collections etc could result in having it reported to your personal credit report

2) I would think this is based on company policy. Seen it handled in lots of different ways
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Postby Money card » Sun May 20, 2012 3:13 pm

from what I was told if you are the owner of a business I believe your premium cards do report onto your business credit report.

If you're the vice president and signed yourself plus the employees who travel, they wouldn't go onto your credit report because you don't own the company. But from what I was told for the owners it does.

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Postby Crashem » Sun May 20, 2012 10:11 pm

Money card wrote:from what I was told if you are the owner of a business I believe your premium cards do report onto your business credit report.


No if you apply with a tax id, it doesn't matter if you are partial or full owner. AMEX will not report on your personal report unless you personally guaranteed and there is a problem with the account. I have had several business AMEXs over the years with corporations, small business, etc. None of them ever reported.
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