Keping American Express for business/work travel...anyone have any real expierence...

[tn09]

Another sticking point that I have is (FYI-haven't file yet) I do a lot of travel for work. I work for a small company that does not provide a corporate card. I normally use my personal CC and just get reimburse once I submit my expenses.

With CH13, I know CC are off limits when you are in the payment plan which is fine, but can I keep my American Express card just for travel? Since American Express has does not have a revolving credit line and the balance would need to be paid in full at the end of the month.

Just want to hear back from people who actually went through a BK13 and had similar problem. Are trustee flexible? Or, this will be up my attorney to petition this with a trustee?

TN09

[justbroke]

If that American Express card is not a "corporate" or "business" American Express, it will automatically get cancelled within 48-96 hours of filing bankruptcy! They monitor the bankruptcy filings through the Bankruptcy Noticing Center or through subscription to the Credit Reporting Agencies.

If you have a "corporate" AMEX, it should go through unaffected, unless you list it in the petition. A "business" AMEX might also pass through if you are not the card holder with "X1XXX" as the last 5 of their card... in other words, you are not the responsible party. However, I can't say for certain on the business AMEX card if you're just a "user" and not "liable".

[forgotten]

Sounds like you are saying this is just your personal AmEx card. So, as justboke said, it will be cancelled shortly after filing.
It wouldn't matter if the trustee/court told you that you could keep using it, American Express is going to cancel that either way.

[frogger]

Just want to hear back from people who actually went through a BK13 and had similar problem. Are trustee flexible? Or, this will be up my attorney to petition this with a trustee?

TN09

Your attorney or the trustee will have nothing to do with this. As the others have stated, American Express is going to shut you down.

[fileda13]

Keep money your business account and use a debit mastercard as your payment method. My honest opinion that if you need to file for bankruptcy then there is no room for any unsecured debt in your life. You just need to relearn how to budget and pay for things whether it be business or personal. I'm going through that process right now with my self-employed business (rethinking how to spend) as I just had my 341 meeting.

[DesdemonaB]

Everything I ever read about AE is they are NOT BK friendly period. Even if you do not include them (zero balance day of filing) they will close your account. Oh and they never forget either, I rarely hear of anyone getting another account even after you are completed with whatever BK you happen to be in.

Because you work in a small company you must know the owner, anyway you can ask for a business account to be open for you? You can explain these charges on your personal cards are holding a financial burden for you and your family. Completely understandable/believable in our economy right now. Do a little research on business accounts, pro vs. cons; come into the meeting a little prepared to sell it as a win – win for everyone you might get lucky and they will open one for you.

Just a thought.

[lillymarlene]

Being self-employed, I had an "American Express for Business" card and it almost did not get included on my matrix. I had a complicated mess of business and personal accounts with all kinds of different creditors. Luckily though, I caught this card just before my attorney filed for me.

Then, since I was personally responsible for this account, even though it was listed under my business and didn't appear on my personal credit reports, it was cancelled right after filing.

[tn09]

What about a secured credit card? Since I will have to deposit cash into a secured credit card and only be able to charge what I have deposited. Will this option work while I am in CH13?

I need to be able to pay for airlines tickets, hotel and rental car. These type of business does not accept ATM cards.

[Flamingo]

Another sticking point that I have is (FYI-haven't file yet) I do a lot of travel for work. I work for a small company that does not provide a corporate card. I normally use my personal CC and just get reimburse once I submit my expenses.

With CH13, I know CC are off limits when you are in the payment plan which is fine, but can I keep my American Express card just for travel? Since American Express has does not have a revolving credit line and the balance would need to be paid in full at the end of the month.

Just want to hear back from people who actually went through a BK13 and had similar problem. Are trustee flexible? Or, this will be up my attorney to petition this with a trustee?

TN09

I know the cost of business travel and what is involved and between the cost of flights, rooms, etc. and having to front that money will probably be impossible for you without a credit card with a large limit. In your situation, since you were using your own personal AMEX for these charges and then getting reimbursed, you know AMEX will cancel your account upon filing BK and what you should do is approach your employer because since you are now covering these expenses and will no longer be able to, how are you going to explain your way out of business travel? Your employer should consider obtaining a business-guaranteed AMEX for you and pay your business expenses. Hopefully your employer will consider it. Best of luck to you....

[papie]

What about a secured credit card? Since I will have to deposit cash into a secured credit card and only be able to charge what I have deposited. Will this option work while I am in CH13?

I need to be able to pay for airlines tickets, hotel and rental car. These type of business does not accept ATM cards.

I've been using a Visa debit card to book airline tickets, rental cars, and hotels for years now. I've never had an issue. With the Visa or Mastercard logo it can be ran as a credit card. Just in the last week I've booked five hotels, two airline tickets, and a rental car.

The issue for you might be that you need to spend more on these items than what you have in your checking account, in this case, a secured card wouldn't solve your problems since you can only spend an amount equal to whatever you sent the bank as a deposit. But yes, you can get a secured card.

[tn09]

I've been using a Visa debit card to book airline tickets, rental cars, and hotels for years now. I've never had an issue. With the Visa or Mastercard logo it can be ran as a credit card. Just in the last week I've booked five hotels, two airline tickets, and a rental car.

The issue for you might be that you need to spend more on these items than what you have in your checking account, in this case, a secured card wouldn't solve your problems since you can only spend an amount equal to whatever you sent the bank as a deposit. But yes, you can get a secured card.

That is good to know! Thanks for the information papie. I thought the MC/Visa logo was only for your ATM card will be accepted at the location. I have no problem being able to have enough funds in my checking account to cover my expenses for travel.

[MommyMc]

tn09- my husband is an IT consultant and travels every week. Since filing 2 1/2 years ago he has used our MC debit card to arrange for travel. He does this with no problem. The only difference is when you check into the hotel, or get the rental car, the hotel or car company will put a 'hold' on your account for the amount owed and they will also tack on 25-30% more for incidentals. The 25-30% more will drop off if you don't have the 'incidentals' upon check out. They hold the amount on your account to make sure you can pay when it's time to check out. Have no worries about using your debit card!
Good luck to you!

[tn09]

tn09- my husband is an IT consultant and travels every week. Since filing 2 1/2 years ago he has used our MC debit card to arrange for travel. He does this with no problem. The only difference is when you check into the hotel, or get the rental car, the hotel or car company will put a 'hold' on your account for the amount owed and they will also tack on 25-30% more for incidentals. The 25-30% more will drop off if you don't have the 'incidentals' upon check out. They hold the amount on your account to make sure you can pay when it's time to check out. Have no worries about using your debit card!
Good luck to you!

Thanks for the info! Never realized that they add 25-30% more...good to know...this way I will make sure there is enough funds to cover a business trip.

[ccmisery]

I have this same predicament, I travel for work and have to use my personal credit card, filing bankruptcy will kill all my credit cards leaving me with only a debit card and limited funds after filing since travel can be unpredictable in the cost. Have you tried renting a car with a debit card? Not fun, I think it's impossible after filing bk, since many if not most check your credit report and also if you get past that tack on a hefty deposit (hold) till you return the car.

Also if you travel to Europe, forget using a debit card as most places if not all will accept debit cards.

[MommyMc]

ccmisery- My husband has been using a debit card for nearly 4 years now. He travels weekly. He has had NO problems renting a car, paying for hotel or any of the other expenses with travel. The thing is you have to have money in the account to cover it. We have 2 checking accounts, one is our "home" account, used for everything for the family. And we have a second account that we use as his "travel" account. We just make sure with each paycheck we are putting money (or his travel reimbursement funds from his employer) into the account. As I stated in a previous post, when using your debit card the rental company and/or hotel will put a "hold" on your account for the amount of your bill plus up to 30% more for just in case. When I look at our account I will see the charge for National car rental, let's say $390, then a few days later I will see it for $300. They have removed the "hold" for the extra funds. It's just to make sure you have the money in your account to pay your bill.
He has not traveled to Europe, but we have traveled to the Bahamas and to Mexico since filing BK and have had no issues using our debit card... they are used just like credit cards.