Popular credit card issuer American Express provides a variety of personal and commercial credit cards to its clients. Many consumers are unsure if Amex performs a hard draw when applying for a business credit card. An inquiry into your credit record known as a “hard pull” by a credit card company can lower your credit score. We shall investigate if Amex does a hard pull for a business credit card in this post and address some associated queries.
Amex conducts a strong draw for a business credit card, then. It depends, is the answer. Generally, when you apply for a business credit card, Amex will run a hard draw. There are several circumstances, though, in which they might not pull as hard. They might not need to perform a hard draw if, for instance, you already have an established relationship with Amex through a personal or business charge card.
Let’s move on to some relevant questions at this point. Is American Express a card for the wealthy only? This is a typical misunderstanding about Amex. They do provide premium cards with high annual fees and exclusive advantages, but they also provide cards without annual fees and reward programs that are open to a wider variety of clients. Amex is therefore not just for the wealthy.
What is the most uncommon Amex card? The Centurion Card, sometimes referred to as the Black Card, is the most uncommon Amex card. This invitation-only card comes with unique perks including a personal concierge and access to special airport lounges and demands a minimum yearly spend of $250,000.
Does Amex Business run a credit check on you personally? This is yet another query that consumers of company credit cards frequently ask. It depends on the card, is the answer. Depending on the card, some Amex business credit cards may or may not report to your personal credit. Even so, the card normally only reports to your personal credit during the initial application and approval stages. After that, your personal credit score shouldn’t be impacted by your company’ credit card use.
Which credit reporting agency does Amex Business utilize? When you apply for a business credit card, Amex runs a credit check using Equifax, Experian, and TransUnion, the three major credit bureaus. To none of the three bureaus do they, however, record your company credit activities. They usually answer to one or two of the bureaus.
Conclusion: Depending on your past interactions with Amex, they might run a strong draw when you apply for a business credit card. Amex offers a variety of cards with various annual fees and incentive systems, proving that they are not just for the wealthy. The Centurion Card, which is the least common Amex credit card, may report to your personal credit. Amex utilizes all three main credit bureaus, however not all corporate credit cards are reported to all three bureaus.