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If you run a small business and spend a lot of time traveling, we recommend adding American Express Business Platinum Card® in your wallet. After all, frequent travelers will undoubtedly benefit from Amex Business Platinum lounge access, hotel elite status, and more.
In addition, if you apply via our dedicated application linkEarn 150,000 Membership Rewards Points when you spend $15,000 on qualifying purchases using your Card within the first three months of your Card Membership ( Fees and Fees).
If you’re interested in the Amex Business Platinum, you may be wondering if you have a good enough credit score to be approved. After all, he is one of the best business cards on the market. This post answers frequently asked questions about the Amex Business Platinum credit score required.
What credit score do I need for the Amex Business Platinum Card?
American Express does not publish a minimum credit score. american express business platinum Applicant. However, it usually requires a very good credit score to be approved. In particular, competitive applications generally require a consumer credit score of 740 or higher.
When you apply for an Amex business card, Amex conducts a credit check with consumer and business credit bureaus. Your small business may not have a business credit history, but that’s okay. In this case, Amex will decide whether to approve your application based primarily on your credit history and other information about your business.
Isabelle Raphael/The Point Guy
Of course, each application and small business is different. So even if you or your company has a low credit score, Amex may be happy to approve your application. However, it usually requires an established business and significant annual revenue to be approved with a lower credit score.
Related: What credit score do you need for a business credit card?
Is the Amex Business Platinum Card Worth It?
of American Express Business Platinum Card A good option for frequent business travelers who can take advantage of the card’s many benefits. For example, frequent travelers can get great value from the following Amex Business Platinum benefits.
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Some benefits require registration.
Frequent business travelers can also take full advantage of many of the lesser-known benefits of the American Express Business Platinum Card. But before you apply, you should ask yourself if Amex Business Platinum is worth the $695 annual fee (see Fees & Fees).
To answer this question, you have to judge the value you get from the Amex Business Platinum benefits compared to the $695 annual fee (see Fees & Charges).
Related: Who Should Get the Amex Business Platinum?
Who is eligible for the Amex Business Platinum Welcome Offer?
of American Express Business Platinum Card is currently offering a welcome offer of 150,000 Membership Rewards® points when you spend $15,000 or more in qualifying purchases using your Business Platinum card within the first three months of card membership (fees and fees ).
However, as with many of the best American Express cards, not all applicants qualify for the welcome offer, even with card approval. Specifically, the terms of the current Amex Business Platinum Welcome Offer state:
Applicants who have or have had this card are not eligible for the welcome offer. Welcom may also consider the number of American Express cards you have opened and closed and other factors in determining eligibility for his offer.
Most notably, Amex has a once-in-a-lifetime bonus policy. Luckily, Amex will determine your eligibility for the welcome offer after you submit your application. Display a popup asking. If you choose to withdraw your application at this time, Amex will not hard pull your credit report.
Isabelle Raphael/The Point Guy
RELATED: 9 Things You Should Do Once You Get Your American Express Business Platinum Card
Find out if your Amex Business Platinum credit score is high
There are many ways to check your credit score for free. For example, some cards offer every cardholder his FICO score for free. American Express also allows anyone (including non-cardholders) to check his TransUnion VantageScore 3.0 for free using MyCredit Guide.
If you have a business credit score, you can also check it. However, you usually have to pay a fee for that.
RELATED: 6 things you should do to improve your credit
Factors That Affect Your Credit Score
First, it’s essential to understand that not all credit scores are the same. So even at a given point in time, we don’t have just one credit score. Instead, credit scores can vary depending on how they are calculated and by credit bureaus. For example, Experian’s FICO score may differ from TransUnion’s VantageScore.
We do not disclose how credit scores are calculated. However, FICO says it uses credit data from credit reports to calculate credit scores as follows:
- payment history (35%): History of paying credit accounts on time
- outstanding amount (30%): Amount of available credits you are using. Also known as credit utilization.
- credit history length (15%): How long have you had your credit accounts and how recently have you used each account?
- new credit (10%): Opening multiple lines of credit in a short period of time can present a risk to the lender
- credit mix (10%): Using different types of credits
As you can see, many factors affect your credit score. That’s why it’s important to understand credit before applying for a card.
RELATED: 3 Real Ways to Boost Your Credit Score in 30 Days
what to do if rejected
It’s never fun to be denied a card you want. However, there are many reasons why Amex may reject your Amex Business Platinum application. For example, you may have opened too many lines of credit recently. Or, your income-to-expense ratio may indicate that your risk is too high.
We recommend that you wait to read the final rejection notice that you will receive by email. In this letter he states one or more reasons why Amex denied his application. Use rejection as an opportunity to learn and improve your credit.Then you can apply again if needed american express business platinum credit score.
You can also call the Card Review Line if additional information suggests that Amex may reconsider your application. Even if the representative is unable to approve your application, you can call the Reconsideration Line to learn more about why Amex has denied your application.
Related: Are there long-term problems if my credit card is declined, and what can I do about it?
Conclusion
of American Express Business Platinum Card One of the best business cards on the market. Enjoy premium travel benefits.
However, business travelers often wonder if they have a good enough credit score to get approved for the Amex Business Platinum Card. There are no specific credit score requirements for the Amex Business Platinum, but you are usually most likely to be approved if you have a very strong credit score.
Official application link: American Express Business Platinum Card
Click here for rates and fees for the Amex Business Platinum Card.
Additional reporting by Emily Thompson.
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