I recently filed for and was approved for my first business card (Amex BBP), and as of a few hours later, there have been no hard questions.
Though I am aware that business cards do not often report to credit bureaus for personal files, I had assumed that the initial application for a business card as a sole proprietor using an SSN would result in a hard inquiry.
Does that not make sense? Or maybe they didn’t bother asking because they already have personal Amex cards issued to me?
When I apply for my first business credit card, the issuer will typically do a hard inquiry on my personal credit report to assess my creditworthiness. This hard pull can temporarily lower my credit score. However, subsequent applications for additional business cards from the same issuer may only result in soft inquiries that don’t impact my score. The specific requirements vary by issuer, but most business cards require good to excellent personal credit (generally a FICO score of 690 or above) to qualify. Maintaining a healthy credit utilization ratio and making on-time payments on existing personal accounts can improve my chances of approval for a business card.