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work wants me to get a corp card but....


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I am in a dmp and struggling to keep up with the payments.

At my work, my job has changed a bit and i now have to travel quite a lot. They are not keen on giving me advances and have advised me that I need to apply for a corp card (amex i think) to pay for my expenses,

 

I am worried that due to my previous credit history that I may not be given one and also that amex could transfer my personal debt on to the corp account to get their money back.

 

Please could anyone advise if this can happen and also any other pitfalls that may lay ahead.

 

Thanks in advance!

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  • 3 months later...

Unless you are self employed or are in a partnership the company would apply for the card and would be billed for the expenses on the card rather than you so provided AMEX is happy they can pay there should not be an issue as far as I'm aware.

 

Nor could they load your debt onto the card as your agreement with them is totally separate from the company agreement.

 

A company is seen as a legal entity, so AMEX could no more chase your mother, father, sister, brother or friend for your debts than it could attach your debt to your company account.

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  • 1 month later...
Unless you are self employed or are in a partnership the company would apply for the card and would be billed for the expenses on the card rather than you so provided AMEX is happy they can pay there should not be an issue as far as I'm aware.

 

Nor could they load your debt onto the card as your agreement with them is totally separate from the company agreement.

 

A company is seen as a legal entity, so AMEX could no more chase your mother, father, sister, brother or friend for your debts than it could attach your debt to your company account.

 

Hi sorry but this is not strictly true in all cases. My firm use's Amex for its expences its a corporate card and you apply throught the company but the owness is on the holder to claim expenses incurred back and pay the card on time. This has been changed in the last year to this new system and apparently it the way all companies are going. To use the system as you describe above means the company in question has to lodge an amount of money to guarantee the outlay my particular compamy (44000 employees worldwide) had 30 Million lodged. On a more positive note the credit check made when I applied was only a basic check on my identity and not a full credit history check. Also I was shocked when the company annoused this decision by the amount of poeple whom came forward because they where in the same boat as the OP. It not such a stigma these days to have a bad credit history.

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I stand corrected then.

 

I thought the idea behind these cards was to simplify billing and admin for the company so that any authorised expenses are paid and any unauthorised are claimed back from the employee while they are given a stern warning.

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  • 2 weeks later...
  • 6 months later...
Yes your rightMy Card transactions still get imported into the company expense system, and the company name is on the card. Bit weird heh but there you go.

 

There are two basic types of company credit card. One where you are purchasing goods, parts or the like for the company, this is a company issued credit card. The other a self settle card you use to pay expenses and then claim them back from your company. In theory as long as your company reimburses you then you should never be out of pocket and the company also don't have to advance you the money.I have both and only the second ones show on a credit score. Also a basic search was carried out and no information passed to my company.

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