Q: I’m in the process of opening a small business, and I know I want to get a business credit card. What credit score do I need to apply for an American Express Business card?
A: The credit score that American Express requires before approving a Business card depends on a number of circumstances. These include debt-to-income ratio, your current credit history, and other factors.
If you do have an excellent credit score, which is considered as being between 750 and 800, you will most likely be approved for an American Express Business Card. However, people have been approved when they have scores as low as 650. But, again, depending on certain circumstances, a credit score of 750 has at times not been good enough for approval.
One thing you can do before even applying for an American Express Business Card is to check your own credit score. You can do this by contacting any or all of the three major credit reporting agencies: TransUnion, Experian, and Equifax. You can request free copies of your credit report at least once a year.
Once you have your credit report, and know your credit score, you can then decide if you want to go ahead and apply for an American Express Business Card, or if there is something you can do to raise your credit score, if you feel that’s necessary. Then, depending on what your decision is, you can go from there.
It's important to know what your credit score is before applying for a credit card or a loan. With CreditReport.com you receive immediate free access to your 3 credit scores and 3-in-1 report. This allows you to see scores from Experian, Equifax and TransUnion and be able to correct any errors found on your credit report during the process. You also receive a 7-day free trial of credit monitoring.
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