American Express Corporate Card

[FS09]

I'm starting a new job in a few weeks. One that pays decent money so I can begin to rebuild my life! The job requires a lot of travel and the company is going to provide me with an American Express Corporate card to pay my travel expenses. However, I included about $10K in Am Ex bills in my chapter 7 last year. Being a corporate card with them paying the bill, do you think it will raise any flags??? I'm going to be spending $3 - $5K per month on travel and the card would be a life saver! Obviously for work purposes only....

[backtoschool]

If you bk'ed amex you will not get the corporate card most likely. Amex keeps a black list. Corporate cards are still applied for under your social security number and if you bked amex they will not give you a card unless you pay in full the balance that you owed them.

[justbroke]

Your company can guarantee the card, should they choose to. Otherwise, you are not likely to be able to get an American Express corporate card that has personal responsibility.

[backtoschool]

I would also add that in order to get your company to guarantee the card you will have to go to the administrator of the card program (usually someone in hr or travel accounting) and disclose that you were declined. The administrator of the card program will then have to contact amex and sign paperwork that guarantees the company will pay for all future charges.

[BobMango]

I got behind on my corporate AmEx one time and had to get the company CFO to call them to get the account released. I was spending $10-12K a month on travel expenses so it wasn't like I was gonna put that on my personal credit.

Got to say I don't miss that life even if I do miss the income.

I'd suggest you go through the process and see what AmEx says, then go talk to your company administrator if you get declined. It won't be the first time they've heard that.

On a related note, I just finished an interview with the investigator doing my security background check and he told me he used to see very few bankruptcies (1-2 a year), now it's 4-5 a month.

[Flamingo]

The way most companies get corporate AMEX cards for their staff that are required to have them (i.e., for travel) is upon hiring, the new employee is given a form to fill out with all their information for AMEX (ss number, name, address, etc., etc.) and that form is submitted by the company to AMEX. When the account is approved, the new coroprate card is sent directly to the new employee by AMEX (to the address where your bills are to be mailed). In order for your BK not to be a problem, the company would have to give you a card that is guaranteed by them with AMEX to which you are not associated but can use. I suggest speaking with your HR manager about what process they use at your company because if you are given a form to fill out for AMEX which includes your SS and other information, the card will be based on your credit and expect a denial.

[Amy26]

On a related note, I just finished an interview with the investigator doing my security background check and he told me he used to see very few bankruptcies (1-2 a year), now it's 4-5 a month.

Hehe... I went through my security investigation last year ... The investigation apparently was only concerned with my life up till 5/26 but I didn't file for bankrputcy till 6/6. So, I did end up telling the investigator about it but I apparently didn't have to! LOL. She told me it wouldn't be an issue and told me she had gone through one herself a few years prior.

[FS09]

Thanks for the info all. Kinda what I expected, but hoped maybe I would get lucky since it's a corporate backed card and I never see a bill. Kinda sucks. I start on April 12th. I guess I'll cross that bridge then. It's a great company, so I'm hoping they'll be understanding... My career track record is great, but obviously my personal finances got a bit screwed up the last coupe, years.

[FS09]

Do any of you know, is it common for a company to guarantee a corporate card? I won't be able to float my monthly travel expenses on my own...not for a while anyway!

[backtoschool]

Do any of you know, is it common for a company to guarantee a corporate card? I won't be able to float my monthly travel expenses on my own...not for a while anyway!

It is uncommon for the company to guarantee a corporate card. Instead of my current company guaranteeing a corporate card, I went ahead and asked for permission to use a different type of card, (I recently opened a 5k secured card at my credit union which I am using solely for business travel ) and I am using that for my travel expenses.

[FS09]

I just assumed (probably incorrectly) that any corporate card would have to be guaranteed by the company?

[justbroke]

I just assumed (probably incorrectly) that any corporate card would have to be guaranteed by the company?

Well, there is a "partial" guarantee. This allows the issuing company to allow high credit limits. My Corporate AMEX had a $100K credit limit (yes, $100K). The highest I ever had it was close to $40K when traveling (business class) to/from western europe.

However, almost all "corporate" cards are issued as personal responsibility cards. That means that the company, while guaranteeing payment for legitimate business charges, can simply file an affidavit when they think you're using the card for non-business purposes. Since the card has personal responsibility, AMEX will then come after you.

Think of it like signing a personal guarantee on a "business" credit card for your LLC or S Corp.

[music12]

i am in a very similar situation as fs09, but i won't be travelling that much, so i should be able to foot the bill until my company reimburses my expenses. it's funny because my personal amex actually survived the bk (i never owed anything on the card), but i'm worried if i apply for another one they'll find out about me and cancel the one i have in addition to declining the new one.

does anybody know whether the arrangements with the credit card for travelling end up known to your supervisor? would the person in the company administering the card inform your supervisor if your application for a card was declined?

[SPalin]

I had my Corporate AmEX survive my Bk with no issues. As far as your supervisor finding out about your card depends on your company policies. I know someone else in the office was two months late and our supervisor was made aware of it, as far as a decline in approval of the card maybe someone in accounting if that and all they would be told that it was not approved.

[dscurlock]

someone stated you have to go through an approval process..thats not exactly true..your company will call amx and have you listed as an authorized card user, and they will send the company the card with your name on it...this is not your company, so i can not see you having to go through an approval process, your company will handle anything you need in getting your company card.