Poor credit history but new job requires card.

grayclose31

Hi all,

I am looking for some help sourcing a credit card.

I have a very poor credit rating and have set up agreements through Pay Plan to clear off my existing debts on credit cards. I also have arrears on my mortgage but they are being paid off monthly also by agreement.

I have just changed my job and require a credit card to pay for company expendature I.E Fuel for the car, hotel bills and corporate entertainment.

I am not worried about interest rates as this card will be cleared off every month. Beleive me i have learned my leson and i will pay back all i owe.

I expect that there are companies out there that i can apply to but i don't know any.

Any help or suggestions would be a great help.

Thanks.

black-saturn

I must say it's a bit much asking you to get credit in your own name. Could you not pay in cash and get the receipts?

RTNI

grayclose31 wrote: »

Hi all,

I am looking for some help sourcing a credit card.

I have a very poor credit rating and have set up agreements through Pay Plan to clear off my existing debts on credit cards. I also have arrears on my mortgage but they are being paid off monthly also by agreement.

I have just changed my job and require a credit card to pay for company expendature I.E Fuel for the car, hotel bills and corporate entertainment.

I am not worried about interest rates as this card will be cleared off every month. Beleive me i have learned my leson and i will pay back all i owe.

I expect that there are companies out there that i can apply to but i don't know any.

Any help or suggestions would be a great help.

Thanks.

Hi there, glad to hear that you are getting sorted with your finances!

With regard to a CC, you could try either Capital one "Classic" or the Vauquis Abacus CC; both of which are designed with people with poor or no credit history. As you said, it will be paid off in full so interest should not matter if you are going to be putting purchaces only on the card; (no cash advances etc...)

Hope this helps.

RT

ayeaye

The only problem with Capital One etc. could be that they may offer a card with a very low limit to start with so may not be suitable for use for corporate expenses.

Can you speak to your manager and explain the circumstances, the company may then be able to arrange advances for you when you are travelling and then reclaim these from salary if you do not submit expense claims to back up the expenditure. That's what the company I work has done in the past for people who don't / can't have a credit card.

grayclose31

black-saturn wrote: »

I must say it's a bit much asking you to get credit in your own name. Could you not pay in cash and get the receipts?

Yes that would be good advise in a perfect world but, if i have to wait 4 to 6 weeks to get my money back from work it will mean i won't be able to pay back what i already owe.

Thanks to barclays i am claiming £8000 back in bank charges. When i get it i will be paying off all my debt.

Sorry if i sound a bit short but i feel like you are judging me.

grayclose31

ayeaye wrote: »

The only problem with Capital One etc. could be that they may offer a card with a very low limit to start with so may not be suitable for use for corporate expenses.

Can you speak to your manager and explain the circumstances, the company may then be able to arrange advances for you when you are travelling and then reclaim these from salary if you do not submit expense claims to back up the expenditure. That's what the company I work has done in the past for people who don't / can't have a credit card.

I understand what you mean but it woulde help all round if i can get a CC.

It will be used 90% for fuel and only 10% on other expense.

I am afraid to let the company know my personal financial situation as i only started to work for them today.

Thanks any way and if all else fails i supose i will have to tell them.

jonesMUFCforever

Sorry but I do not believe that you HAVE to have a card to do your job.
If this was the case surely they would issue you with one of their own corporate cards.

wyebird

I don't think you have to go into all of the details. Some people I know wouldn't have a credit card as a point of principle (wish I was so sensible). Maybe they could give you a cash float? My OH did that when we didn't have any access to cards. We "started again" with capital one, but we had repaid the existing problme debts by then.
Only other thing I can think of is if you had a family member or friend (big ask, I know)who would make you a second card holder on an account?

Jarlawuk

I'd go with the secondary card holder route as it will be the only way to get a credit card given your circumstances.

lisyloo

Ask your manager/HR department what arrangements they have for people without credit cards (you don't have to go into details).

We have people in our company who either have bad credit history or who won't have them our of principle.
There are several ways round it.
One if that we have a "company" card held by a P.A and they book hotels etc.

The other way is for the company to give you a "cash advance" at 0% interest.

I don't think it will be a problem for you to enquire.
Most people would understand if you don't want to go into personal details about your finances.

You will probably find you aren't the only person in this situation.

ilovemycats

If they actually need you to have a credit card to do your job then they should be supplying you with a company credit card. It's as simple as that. Any company that won't do this doesn't have a sound business plan. The moment you start mixing business and personal finances it all becomes uncontrollable. You can't have an employee failing to do their job because of personal circumstances.

Another one I question is when companies say, "Must have own transport." You what!! If you actually need a car for work then they supply one or have a full blown car allowance in place.

Any company that won't do either of the above is cutting corners. There are also messy tax muddles to get into too. It's the same old story of them trying to get as much out of you as they can. The business should be there because it's viable and a sound money generating venture. If the credit card and car issues arise then they're not as sound as they make out.