Few questions re: SimplyCash Business card, new to the US

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evocard
 
Posts: 2
Joined: Tue Feb 11, 2014 6:14 pm
Location: US

Few questions re: SimplyCash Business card, new to the US

Postby evocard » Tue Feb 11, 2014 6:51 pm

Hi everyone,

I just recently moved to the US and set up a business. I have been contemplating the need and importance of having a credit card for the business use.

I am currently an AMEX cardholder in Europe. Here in the US since the business is new, and most of the expenses are paid for by check I havent really seen the need for a credit card. But seeing the SimplyCash card letter they sent me and the 0 annual fees made me consider it. I have always tried to pay with my Amex when buying important items, travel etc in Europe.

For the business I could see myself paying for advertising, equipment, supplies and gas for now, future probably also travel.

If I have understood how the SimplyCash card works, any payments I used the card for must be payed off otherwise an APR charge will be assessed. Is there anything else I should be made aware of? or am missing?

I am completely new to the idea of credit building, fico etc etc, so I don't know what would be the best choice. I also noticed that there are two different types of cards here in the US, charge and credit. It seems that charge cards help build credit? Maybe I am wrong :confused:

Any tips, suggestions?

Thank you in advance


EpsilonBusinessCredit
 
Posts: 1
Joined: Sun Feb 23, 2014 7:20 pm
Location: US

Postby EpsilonBusinessCredit » Thu Feb 27, 2014 5:37 pm

Evocard,

Well, firstly, good luck on the move and the new venture...

I'm not sure whether Amex will take your current, but European, credit history into account when assessing you, but without that you're going to struggle to get any type of credit card without much personal or business credit rating in the US.

If you are offered any card from Amex then take it and use it, paying off the full amount early every month, to build up credit. After a few months you should then be able to obtain other forms of credit.

If not then it's going to be a while before you get any type of credit card I'm afraid. Charge cards don't help much. But you may consider a secured credit card such as the Wells Fargo card (google it). These work by you putting, say $1k, in a deposit and the bank giving you a credit card for this amount. These are easy to get - the bank just takes the deposit oif you default, and can be used to build up credit. You should also sign up for vendor credit - eg Staples - too.

Anyway, hope that helps. And good luck agian.

Chris
Epsilon Business Credit

travisrauh
Centurion Member
Centurion Member
 
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Joined: Sat Aug 17, 2013 1:01 pm
Location: Fort Lauderdale, FL

Postby travisrauh » Thu Feb 27, 2014 6:08 pm

Hi Evocard,

Welcome to America! Please call your American Express customer service line on the back of your European Card and ask to speak with the Global Transfer Team. They should be able to assist you!
I am an employee of American Express. All posts are those of my own and do not reflect the actions or opinions of AXP. While all efforts are made to ensure accuracy in my posts, for official statements or responses, please consult with @AskAmex on Twitter or dial the number on the back of your card.

MrMosby
Centurion Member
Centurion Member
 
Posts: 211
Joined: Thu Mar 15, 2012 10:08 pm
Location: Ohio

Postby MrMosby » Thu Feb 27, 2014 7:35 pm

travisrauh wrote:Hi Evocard,

Welcome to America! Please call your American Express customer service line on the back of your European Card and ask to speak with the Global Transfer Team. They should be able to assist you!


Interesting, I didn't know Amex had Global Transfer service, I wonder how that works at other firms.
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