     MV (Mel) | Monday, February 05, 2001 - 07:14 pm 
Does anyone know if it's easier/harder to get the corporate card than the regular? My company requires me to travel extensively and they'd like for me to get a corp card. The card would be based on my credit even though it's through the company's corp account. I'm just wondering if it's any easier to get than a regular Amex.
I applied for a corp card a year ago at my last company and was denied, but have since deleted several derogs from my report and have added some positive credit card accounts (at the time I had none). I don't know if it makes a difference at all, but the company I worked for did not exactly have a great payment history w/Amex. (Although other employees got approved with no problem).
I'm wondering if they base it on a combination of the employee and the employer, even though the account is ultimately the employee's responsibility??
If anyone has any info about this I'd be greatful! |
| John Shimmer (Jshimmer) | Monday, February 05, 2001 - 07:40 pm
My Corp AmEx card was NOT my responsibility, but my COMPANY'S responsibility. Sure, it was mailed to me. Sure, I paid it. But I paid it with expense checks. And nothing was ever reported on MY credit report regarding the account. The card and statement were in my name.
Corporate Cards are from corporate accounts - the company is the one ultimately responsible. They just tell AmEx who to print cards up for.
Otherwise, it would NOT be a 'corporate' card. If you applied for a corporate card yourself (nothing to do with your work), then you applied AS IF YOU WERE a corporation, looking to open a corporate account.
That is, unless AmEx has changed things drastically since 1997. |
| MV (Mel) | Monday, February 05, 2001 - 07:49 pm
If that's true, then why did they decline me a year ago when I applied through the company I work for? The application states that the charges incurred are the applicant's responsibility. Sure the company pays the employee for the travel expenses, but the employee could always pocket the $ and not pay Amex.
Did you have to fill out an application for yours with your SS#? I was told that for corp cards they don't report anything to the CRA's unless you reach 120 days past due. They don't report otherwise cause one of the benefits of the corp card is that it doesn't affect your personal credit by showing high balances. Unless you default of course.
There is an inquiry on my Experian report from Amex from when I applied last year.
I'm thinking that maybe there are 2 choices for corp cards - one where the company is liable and another type where the employee is liable. Another job I had gave out corp cards but the employees never even had to sign anything for them or fill out an application. They just got the bill in the mail each month. (I left just as they started the program at that co.) |
| John Shimmer (Jshimmer) | Tuesday, February 06, 2001 - 04:21 am
It's all up to the company (your's) on how they choose to run it their corp card program. As a general buisnes rule, the customer needs are always right, and AmEx will deliver whatever the customer wants IF they want the customer's business.
Company A could say to AmEx, "Sure, we'll assume all the risk. Let's set it up that way."
Company B could say, "Yea, we want the benefits of a Corp AmEx account, but we want employess held responsible to ensure that we won't get stuck with the bill."
Or I'm sure it could be a combo - employee primary and corp secondary. |
| Patricia Holly (Househunting) | Tuesday, February 06, 2001 - 05:50 am
Both of you seem much more informed on this topic than I am. However, let me add my story here just for illustration purposes. I applied for a corporate card through my last company, a fortune 100 company. My credit was never pulled during the application process. I ran up charges and paid them as I got the bills. The last month before I quit, I had $3000 worth of charges. Once I quit, the expense reports were never processed. The card was through GE Capital corporate card services.
That was in July of last year. I have been paying the balance off slowly myself ever since. I am about to send the final payment this statement cycle. I have consistently returned all phone calls from the creditor explaining the situation. They have not reported any of this to any bureaus yet. They did pull my Trans Union report about a month ago. I am considering getting a lawyer to represent the final payment so that I have documentation stating that they will not report these delinquencies, turn it over for collections, etc. I just received my reimbursement checks from the company last week.
I am actually in a pickle because I can't seem to get a lawyer to do this for me. I previously had a bankruptcy attorney handle the negotations and settlement on some very old debts I had a couple years ago. He does not return my calls, I assume because there is little or no profit in handling this situation. So, this is my story, and if you have some advice, please let me know. |
| MV (Mel) | Tuesday, February 06, 2001 - 01:56 pm
Well, I spoke to Amex today and they told me that there a company can choose to be liable for the accounts, or they can make it so that the employee is personally liable. In my company, the employee is liable; Amex looks solely at the employee's credit, therefore approval to get the card is just as rigid as if applying for a regular Amex on your own. |
| John Shimmer (Jshimmer) | Tuesday, February 06, 2001 - 06:08 pm
Yup. That's what I said ...  |
| Christine Baker (Admin) | Wednesday, February 14, 2001 - 04:13 pm
Patricia, I don't think you need a lawyer. If you ARE responsible for the payments, no lawyer or anyone else could negotiate the non reporting.
I'd make the final payment and just hope it'll never show up. Why would they start reporting AFTER you paid?
And since the balance will be zero, there's nothing to turn over to collections. |
| Patricia Holly (Househunting) | Thursday, February 15, 2001 - 06:03 am
Christine-
I did exactly waht you recommend and so now I am just going to sit back and see what happens. What a mess. The only thing that seems to be consistent was that they were quite cheerful with me on the phone and said my predicament was not that unusual. You're right about questioning why they would start reporting it now. The whole thing just made me nervous. |
| P Baran (Aikidoka) | Wednesday, May 02, 2001 - 02:37 pm
As a follow-up to everyone here, I too had a "Corporate" Amex. When my company reorg'ed, they simply didn't process expense reports for the final two months.
When it wound its way through the home offices, they simply said "We have no way to verify that these are company charges...sorry."
So...stuck with $3000 AmEx bill. They would NOT negotiate, would NOT allow me to make payments (even hefty ones like...close the account, I'll pay $500 a month out of my own pocket). Their reply...we don't accept installments....you can wait for it to go to collections.
Which we did...and we made a deal with an agency that said they could get it shown paid in full...late, but NOT collections.
Nope...instead...no collections show, but a tiny $56 CHARGE-OFF from AmEx shows up...I'm assuming from some annual fee that accrued during the dealing with the CA?
Anyway...Amex simply said "The company says the charges aren't theirs...so you have to pay them." End of story....
Some background...I NEVER signed ANYTHING to get the card. All field engineers were given them after their 90-day probation period (we travelled upwards of 200 day per year for the company).
Suffice to say that Amex joined my list of NEVER, EVER do busines with.
aiki |
| Christine Baker (Admin) | Wednesday, May 02, 2001 - 03:39 pm
If you never signed anything you should sue for your money back. |
