Upgrading Card vs. New Card

Discussion in 'General Discussion | Credit Cards' started by zshanlon, Sep 23, 2013.  |  Print Topic

  1. zshanlon

    zshanlon Silver Member

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    I've got a Biz Rewards Gold AMEX and I got an offer in my email to upgrade to the biz Platinum card. Its not worth it for me but I'm curious if anyone knows the difference in how AMEX views "upgrading" vs "applying" for a new card.

    Im mostly asking because I have been thinking about getting the Mercedes Platinum Amex but I don't really want to cancel my "normal" Platinum Amex.

    A few questions:
    - Are you typically eligible for new bonuses when upgrading?
    - For platinum, would I get the $200 credit again this year?
    - Is an upgrade a continuation of an existing credit line or the establishing of a new one?
    - Is there a credit pull?
    tondoleo and jbcarioca like this.
  2. jbcarioca
    Original Member

    jbcarioca Gold Member

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    That depends, but since you received a solicitation from them you probably will. Remember that these are business cards. Business cards are NOT consumer cards and are not subject to consumer protections either, so their rules can be and are often fairly arbitrary. American Express gets more income from transactions on business than they do on consumer cards so they usually are more flexible on business incentives too.
    While an additional card account is new, the credit evaluation is not. Thus, the credit limits (whether transactions or revolving) will have a 'shadow' that establishes the relationship total credit exposure limit otehr things remaining equal. The preapproved solicitation proves that your business account is well regarded and they want you to have more business with them, so this is not a big issue.
    That depends on whether they regard you as an individual an obligor on this account. While there may be a credit pull it will be for an account update, if it happens, so it will not be a 'hard pull'. In any event a business card is normally not reported to credit bureau because it is not normally an individual obligation. remember a business account is by definition not a consumer account so is not subject to FCRA(Fair Credit Reporting Act), among other things.
    zshanlon and tondoleo like this.

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