Does American Express build credit?

**DoingHomework** · Jan 6, 12, 6:47 am

Originally Posted by 4Runner

..."the platinum is better for business use" - This is not 100% accurate.

I do not have any business and I have the platinum just because I want and I like it.

Same here. In fact, few businesses would give a platinum card to an employee these days. The perks could be taxable and the complications and fees are not worth it. Most platinum card holders are just regular folks. Sorry Money Card, your delusions are shattered.

**NYC_Dweller** · Jan 6, 12, 8:24 am

Originally Posted by DoingHomework

Same here. In fact, few businesses would give a platinum card to an employee these days. The perks could be taxable and the complications and fees are not worth it. Most platinum card holders are just regular folks. Sorry Money Card, your delusions are shattered.

I agree...

I have a plat card and I use it for everything. My yesterday's transaction included:

- coffee and breakfast
- utility bills
- grocery store
- dinner
- misc shopping

There are months where I charge 10k and months where I ring up under 1k. I never understood why many people think that the plat card is only for business/travel use. If this is the case why does Amex have Plat Biz and Plat Corp cards?

**UPS Gregg** · Jan 6, 12, 8:24 am

Originally Posted by DoingHomework

The guy is wrong. Amex reports your highest balance ever as your limit. If you had a balance of $10000 in 2002 and this month have a balance of $1000 they do not report it as maxed out. They report a $1000 balance and $10000 limit which gives you a utilization of 10% and that is very good.

In any case, just pay the card off and your score will immediately go back up. If you can't pay it off today then you should be using a credit card rather than a charge card.

How often is a credit report updated by Amex? Or any other company for that matter? I'm asking because the way you stated that Amex reports would be bad for me right now. My highest balance was $929 but currently have a balance of $644 and am waiting for it to post so I can pay it off. If they report now my utilization will look bad.

**PlatinumAMEX94** · Jan 27, 12, 1:47 pm

Originally Posted by Money card

Totally not true. Say somebody works for IBM, Multistate Tax Commision and the sales people or vice presidents of these companies travel, spend about 2500 a month per person, they don't pay there bill the CEO, president or owner pays the bill. so how do creditors tell whether you or your corporation is paying your platinum card?

If you are not the primary account holder, you are an authorized user. This is clearly stated in your credit report. Creditors are well aware when you own the account or when a business owns it. And if you were to leave IBM, it will also state the day you were removed as an authorized user.

**Nbirnbaum2** · Jan 27, 12, 4:40 pm

not anymore, oh how do i change my green card pic to gold premier? lol

**PlatinumAMEX94** · Jan 28, 12, 3:28 pm

Originally Posted by Nbirnbaum2

not anymore, oh how do i change my green card pic to gold premier? lol

You have to post a LOT on this forum.

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