Can I Transfer My Business Credit Card to Another Business?

Oct 16, 2017

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“Reader Questions” are answered twice a week — Mondays and Fridays — by TPG Senior Writer Julian Mark Kheel.

If you’ve got a business, having a business credit card offers a lot of advantages. But what if you’re closing your business? Can you switch your existing card to another business, as TPG reader Ravi asked us in an email…

If I currently have an Amex Business Platinum under a sole proprietorship and know that business will be closing, and I have a second sole proprietorship business, can I have Amex switch the business names and use that existing business card for my other business?

TPG Reader Ravi

There are some pretty great business credit cards around right now, and the Business Platinum Card® from American Express is just one of them. If you’ve gotten used to the perks of the card — such as elite status at Hilton and Starwood (and Marriott) and access to Amex’s Centurion lounges — you might be loathe to give them up.

However, when you apply for a business credit card, even though the bank collects your personal information and accesses your individual credit profile, the issuer also considers the profile of your business itself in determining whether to extend credit and issue you a card. That means you can’t transfer cards between businesses, even if both businesses are sole proprietorships. Your card is tied to the business for which it was issued.

Now, that doesn’t mean you’ll never be able to get a credit card for more than one business. In fact, Ravi, you can definitely get a Platinum card for your other sole proprietorship just by closing the first card from your other business and then applying for another Business Platinum for the second business. As long as you and your other business qualify for the card, it shouldn’t be a problem.

Keep in mind though that Amex limits welcome bonuses on each type of card to one per lifetime — including business cards — and that’s the lifetime of the individual making the application, not the business. So while you should be able to get approved for a second Business Platinum, you won’t receive the sign-up bonus for doing so.

Other banks nowadays have similar rules on sign-up bonuses, and remember that Chase in particular has its 5/24 rule — if you’ve opened more than five credit cards at all banks in the last 24 months, Chase won’t even approve you for many of their cards, including the Ink Business Preferred. That’s unlike most other banks that will approve you but just won’t award you the welcome bonus again. So you might have trouble opening a new business card with Chase if you’re over 5/24 across the board.

But Ravi, as far as your situation goes, you should be fine applying for a new Business Platinum for your other business, and thanks for the question. If you’re a TPG reader who’d like us to answer a question of your own, tweet us at @thepointsguy, message us on Facebook or email us at

Featured image by zimmytws/Getty Images.

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