If you have a small business and spend a lot of time on the road or on the sky, you may need to add American Express Business Platinum Card® Go to your wallet. Frequent travelers will benefit from lounge access at Amex Business Platinum, hotel elite status and other products.
Spend $20,000 in the first three months of card membership, new card members can earn 200,000 bonus points.
If you are interested in applying for AMEX Business Platinum, you may be wondering if you have enough credit scores to be approved. After all, this is one of the best business cards on the market. Let’s discuss some common questions about the ideal credit score you need to get the Amex business platinum.
Amex Commercial Platinum Card Credit Rating: What to Know
American Express does not state the minimum credit score Amex Commercial Platinum applicant. However, you usually need to approve good or excellent credit.
When you apply for an AMEX business card, AMEX will conduct a credit check with the Consumer and Commercial Credit Bureau. If your small business does not have any business credit history, AMEX will rely primarily on your personal credit history and other information about your business to determine whether to approve your application.
Of course, every application and small business are different. Therefore, AMEX can approve your application even if you or your company has a low credit score.
However, usually you need to build a good business and a lot of annual revenue to get a lower credit score.
Related: What credit score do you need?
Factors that affect your credit score
First, it is important to understand that not all credit scores are the same. So even at a given time, you don’t have only one credit score. Instead, your credit score may vary in calculations and credit reporting agencies. For example, your Experian FICO score may differ from Transunion VantagesCore.
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FICO notes that it uses the credit data in your credit report to calculate the credit score at the following ratio:
- Payment history (35%): History of credit accounts paid on time
- Amount of owed (30%): The available credit amount you use, also known as credit utilization
- Credit record length (15%): How long has it been established and how you have used each account recently
- New credit (10%): Opening multiple credit lines in the short term may indicate risk to the lender
- Credit portfolio (10%): Use different types of credit
As you can see, there are several factors that can affect your credit score. Therefore, it is important to know credit before applying for a card.
Related: 3 practical ways to improve your credit score within 30 days
What to do if you are rejected
It’s never fun to be rejected by the card you want, but Amex may deny yours Amex Commercial Platinum application. For example, you have opened too many credit lines recently, or your income ratio may indicate too much risk.
Wait for reading the rejection letter you will receive. This letter will provide one or more reasons why AMEX refused your application. You can use rejection to learn and improve your reputation. Then, once you get the necessary credit score for AMEX Business Platinum, you can apply again.
If you think other information may cause AMEX to reconsider your application, you can also call the card to reconsider the line. Even if the representative is unable to approve your application, calling the Reconsideration Line may provide more information about AMEX rejecting your application.
Related: Final Guide to Credit Card Application Restrictions
Bottom line
American Express Business Platinum Card It is one of the best business cards on the market thanks to its multiple premium travel allowances.
Although there is no specific credit score requirement to be approved by an AMEX Business Platinum card, if your score is within the “good” or “excellent” range, you will usually get the best chance of approval.
To learn more, read our full review of Amex Business Platinum.
Apply here: American Express Business Platinum Card
