Question about corporate credit card

[Flamingo]

Hello

I work for a company that requires a corporate cc to be used on what they call T&E - Travel and Entertainment which is issued by Citibank. I can tell you from my personal experience the following:

While the application asks for personal information this card does not report, and is guaranteed by the corporation only. Our company pays our T&E cards twice a month, as long as I submit my report on time there is never a balance. The only way it would ever affect your credit is if you were issued a card, went out and spent your limit on personal items then quit your job walking away from the balance owed.

There is no credit check on a corporate issued card, unless you are the corporation meaning you start your own business, since there is no reporting, and as long as you follow the rules of your company travel policy you should have no issue.

As for telling the trustee, I did not include or brought to the attention to the fact I have a corporate issued Citibank card with a 10,000 limit. As it against company policy to use the card for personal items – I would not use anyway I happen to like my job and don’t want to lose it.

I had a personal Citibank card included in my BK and when I was issued the card back in 2005 I had a charge off of a second Citibank card that went in to collection and I was not declined for the corporate card. I know people who filed BK from my company who were issued the card without a blink of the eye.

I don’t believe it should be an issue as card is paid for by your company, not you.

I am assuming you mean the Citibank card you are discussing as to my highlighted line above. In our company, the Corporate AMEX is based on the applicant's credit. I work closely with HR and have it myself for travel - my credit was checked when obtained and I obtained it this year due to company travel - my BK has been off our records since April 2009.

[BROKEDED]

Peeps - That's good to know. Sounds in line with what I've been reading. My wife's company has over 100,000 employees so I'm sure this would be nothing new. They may already have a solution for this as well without my wife having to expose her personal credit situation. I should find out in the next few days so I'll post up any new dirt.

Has anyone BK'd AMEX and got approved for or kept their AMEX corporate card? Kasey13's card was closed with a zero balance and Charlie777 was denied because of a previous default but kept his Corporate after a company guarantee and it survived his BK.

By the way Kasey13, thanks for your post. Welcome aboard!!! You found a great site for BK info.

[DesdemonaB]

On a side note, this is a new position/promotion (2nd one in 6 months...u go girl ) and I thought she would have to travel 3-4 times per year but to my surprise it may be 10 times per year! aACKKK!!! If we have to go the pay first/get reimbursed route, I sure hope they are expediant about cutting checks![/QUOTE]

word of advise... submit those expense report the day she returns... keep ALL your reciepts, submit all expensense reports ASAP.. if you keep detailed reciepts then you will pay quickly. More work on your end, but it less $$ out of your pocket.

[BROKEDED]

Update - My wife's boss asked for the app Friday and she asked to speak with him privately. She gave the "credit responsibility" speech and he said that it didn't show up on his credit report and shouldn't show up on hers. That still doesn't mean his credit wasn't used for approval or if he'd be dropped if he discharged debt to them in BK. Anyways, she insisted that she couldn't do it right now and offered the other option of paying out of pocket and filing an expense report and he said he didn't think that would be a problem. YAY! So maybe this will work for a while and if it gets to be a hassle then maybe after a year or so she can apply for a Corporate Card.

Of course things might change so if it does, I'll post it. I appreciate all the great info.

[tobee43]

i just couldn't believe when i read this thread.....even in good times my husband's company insisted he put things on his OWN personal AMEX account which they required him to have....how about his...they asked him to CHARGE the Christmas Party....ok...like for 150 employees (just HIS dept...not the company which had thousands of employees)...saying oh...just expense it...NOT!!!!

i just love these companies that put their employees in this terrible situation..and the reason.......it delays pay outs...they can wait 60 days or more to spend THEIR money...in the meantime you are hold the "bag"...and the debt!

[BROKEDED]

Well, my wife never verified whether payments were made by the company directly or indirectly through her. It was kinda pointless since we didn't want to risk her being denied a card... or worse, getting approved and then having the card closed when we filed BK. Each of those could have created a needlessly embarrassing situation or explanation at work.

At any other time we wouldn't have cared about using our credit for business expenses as long as reimbursements were timely and the definition and limits of those expenses were understood up front.

[tobee43]

Well, my wife never verified whether payments were made by the company directly or indirectly through her. It was kinda pointless since we didn't want to risk her being denied a card... or worse, getting approved and then having the card closed when we filed BK. Each of those could have created a needlessly embarrassing situation or explanation at work.

At any other time we wouldn't have cared about using our credit for business expenses as long as reimbursements were timely and the definition and limits of those expenses were understood up front.

well, i don't blame you one bit..and personally, i think it's awful that companies except or want or demand this from their employees....

best of LUCK to you and your wife's job...sounds like she's doing excellent!!!!

[chicagoannie]

BROKEDED - I think your wife handled this situation perfectly. I have had 2 corporate AMEX cards - one years ago when my credit was spotless, which I got with no problem. Then the one I got 3 years ago...for which I was initially denied and my company had to guarantee it. In both cases, and these were major corporations, my credit was used for the approval process.

Glad this worked out for you guys!

[BROKEDED]

Thanks everyone. It helps that my wife has a good boss right now which was one of the reasons she applied for the position. Six to nine months ago and this would have probably been ugly. I'm happy! She is too. She works hard and deserves the promotions she gets.

Thanks again!