American Express Corporate Card

[goinunder]

Will I lose my corporate AMEX?

I am considering filing BK and have a question about corp. AMEX cards. My company recently switched to AMEX, and I was issued a corp. card with the $5K limit, retail restriction. My account is current, etc., but if I file BK will I lose my corp. AMEX? I will be incuding approx. $12K in AMEX cards in the BK.

There are different types of American Express (AMEX) corporate charge cards. There is personal responsibility and company responsibility. Most of the large companies use personal responsibility cards, and a credit check is performed. If you would have qualified for a regular AMEX card, then you will receive the maximum credit limit. (Yes, AMEX cards do have a credit limit contrary to what they say, but it is movable. ) This credit line, at least for my corporation, will be either $75,000 to $100,000 if your credit is good, or limited to $5,000 with a retail restriction if your credit is poor.

Even though the $5,000 credit limit is for poor credit, is is "partially" guaranteed by the corporation. They promise to pay all business expenses. Also, many of these corporations directly pay AMEX for expensed items that are approved by the company and is why the $5K credit limit is offered to poor credit employees.

Now, if the American Express card is a "business" card, it's a different story. You are only an authorized user and the process is as simple as calling in with minimally your name (don't even need SSN).

There is a distinct difference between AMEX "business" and "corporate" card products.

[justbroke]

I am considering filing BK and have a question about corp. AMEX cards. My company recently switched to AMEX, and I was issued a corp. card with the $5K limit, retail restriction. My account is current, etc., but if I file BK will I lose my corp. AMEX? I will be incuding approx. $12K in AMEX cards in the BK.

AMEX will probably want a corporate guarantee for your corporate card. Your company may already have one since you have a restricted card.

[goinunder]

Is it possible to find out if I have a guarantee without going through my employer? Should I inform my employer before I file BK?

[SPalin]

BK'd $12k on my American Airlines AmEx, also, and was discharged in 2/10 and still have my Government AmEx with $5k limit, still open and charging on travel.

[doudis2]

I have two AMEX corporate cards from work. Neither has been affected thus far. I also had two personal AMEX cards; they were the first to be canceled when I stopped making payments. So I am fairly confident that I will not lose my corporate cards.

[justbroke]

Is it possible to find out if I have a guarantee without going through my employer? Should I inform my employer before I file BK?

If you have the $5K card, it's partially guaranteed. You may be able to still keep the card.

[justfiveofus]

I may have missed it but I didn't see where anyone received an AMEX card post BK... like right out of BK. If I missed it, I'm sorry but I'm just wondering how difficult this is. My hubby works for a very large company and I know that their AMEX cards that are issued are the employees responsibility until they are reimbursed by the company. He is going to need to be able to travel so this is a very interesting thread for us.

We've never had an AMEX card before so nothing was included from them in our BK but we're still *in* bankruptcy.

[justbroke]

I think if you never BK'd an American Express card before, you can get a Corporate Card without any fuss. Amex just doesn't like being discharged.

[doudis2]

UPDATE to my original post:

Just yesterday I got my renewal corporate card, so that is another good sign as you'd think if they were going to deny me based upon the BKT, they would have done it now.

[anime-chicka]

The Corporate Cards have the traditional AmEx logo on them. I'm supposed to get one within the next couple of weeks due to a promotion where I'll be doing a lot of purchasing and reservations for events.

I had to apply and get denied and go through the exceptions process at work. I bk'd about 16k on AmEx on the Blue card. My limit is $5k, though I don't expect to charge more than $500-1000 per quarter.

[researchnerd]

I have a new job with a large company and my boss asked me to get a corporate Amex for business travel. Corporate Travel emailed me an application link with a specific individual access key. It was a very short app, but did include my SS#. The corp travel email said:

"Submitting your application will automatically route it to the AMEX Program Administrator for review and approval. Once approved, it will be forwarded to American Express for processing."

I held my breath, crossed my fingers and toes, and submitted the application late Thursday. On Friday I got the following email:

"Your application was reviewed and forwarded to American Express by your Program Administrator on 2011-06-10. American Express will process your application in approximately 2 to 3 business days."

An Amex inquiry hit my credit on Saturday....at this point I figure it could still go either way. I've gotten a car loan since my BK and everything not IIB is current. We have an impending foreclosure (IIB) but AFAIK it hasn't happened yet. I have had corporate Amex accounts in the past and never paid late, but it's been 5-6 years. I have never had a personal Amex so didn't include one in my BK last year.

I am really hoping for apprioval. It's not a disaster if it doesn't get approved, I would just need to build some savings so I can travel on my own dime and then get reimbursed. But I'd rather not have the BK conversation with my new boss if I don't have to.

[researchnerd]

Just in case anyone was wondering...I did get approved for the corporate amex! It's the little victories...

[DWA134]

I recently started a new job as well. When it came time to apply for the corporate AMEX they didn't even ask for the SS#. This leads me to believe the company has already guaranteed payment.

So- if they ask for the SS# you may have a problem.

This is truly a lifesaver as the travel expenses would be a burden otherwise.