Pressured into corporate card but poor credit

Tinuel

All,

I work for a financial company on the IT side. My job role involves lots of travelling and client facing and for that reason the manager wants me to have a corporate card. Due to my poor credit rating, I have been trying to avoid applying for it, but he asks me every day as we have lots of projects and meetings to complete.

Question: Will my poor credit block me from having a corporate card? Will they run a credit check? If they decline will they write to my manager explaining that my credit score was too low?

I have been avoiding it, as I will be so embarassed... I am so worried!!!

SunderlandBlackCat

I was in the same boat 3 years ago & had just been turned down for a card so I knew my credit report wasn't looking good.

Eventually I ran out of excuses though & applied & got one (Corporate Amex) without even so much as a credit search appearing on my reports.

churchrat

hi
my oh has a corperate card and we have a very low credit score. This is his second one and he has had one american exp and one other (forget which) No probs at all, don't think our credit file was even looked into, and its been much easier using this for work expenses than paying out and claiming back. Wished we had done it before.
good luck.

climbingoutoftheabyss

I went through the same worries.

Eventually, I completed the forms, filled in my bank details and my company applied - the card came through within a few days. From that I can only guess that they don't credit check the individual as its the liability of the business.

Thats Lloyds TSB if its a help.

Tinuel

Will give it a go, my manager just came round again asking if I had applied and why it was taking so long.
I am seriously running out of excuses...

Tinuel

Ok, just applied, my manager basically printed out the form, not giving much choice. Fingers crossed for outcome....Will let you all know.

It's an HSBC Gold corporate card by the way. Another question: The way it works is that once expenses are approved, the company deposits the money into my account and on a set date HSBC collects it via direct debit. As I only have a basic account with Halifax, will this "account activity" help to upgrade to a current account? The card limit is around £3500 and it's normal to spend that amount on a monthly basis.

saucymare

Good Luck I hope you get it .:rotfl:

Red_Fraggle_3

good luck - i have had a couple of corprate cards and had an awful credit score at the time and i got them :-)

Tigert

I have 23 defaults agaist me at the moment and I got one. If it's underwritten by your company you should be fine.

Rabbit-in-headlights

I have a corporate card for expenses, with Citibank - it's in my name and home address (this is so if i am naughty and go shopping with I am personally liable!).

As it is part of a deal with the card company have with your employer, they know it will be paid by them so it shouldn't matter what your credit rating is.

Trouble is, I also have (had) a Citibank personal credit card, which is now part of my shiny new DMP..... so time will tell if my employer gets wind of my "situation" :eek:


Rabbit