Company Credit Cards - Expenses

Bob78

I have a company credit card in my name. I am responsible for paying off the credit card once I have receive the money from my company.

However the company can be very slow in paying me which can delay my payment of the credit card, incurring late payment charges.

I'm slightly worried that this will affect my credit reference level.

Am I right to be concerned? Do you have any advice?

Gromitt

So its a company credit with the company name embossed onto the card, and your name is also there as the card holder?

Sounds a little strange to me, I have a company card also, but I never get to see the statement unless there is something on there I didn't tell our accounts department of (in which case, they email me the statement, questioning the transactions).

I was told that If the CC isn't paid, the company is liable, not me, and the card doesn't appear on my credit report, so I would assume this was true, but it may depend on the company also (eg. the company I work for is a limited company).

Have you checked your credit report?

chattychappy

Was the card just given to you? Did you sign anything to receive it - in particular anything from the CC issuer?

opinions4u

Check your credit file.

My old firm used to offer a similar facility.

I ignored it and used a cashback card in my own name. Occasionally had to dip into savings to avoid charges, but rare if I got the claim in quickly.

Macca83_2

Is it a company credit card, or a personal one you use for company expenses? The company credit card Will not affect your credit rating but a personal one used for company expenses Will

Bob78

It is a company credit card. It has the companies name on the card and my name.

But the statements come to me and I am responsible for paying the balance on the card.

chattychappy

What about the questions I asked in #3 ?

lisyloo

In particular did you sign anything to receive it?
I can't see how you can be liable if you didn't sign for it.

I had a company card before and it never appeared on my credit report.
In fact at different time I have both AMEX and Barclaycard company cerdit cards.

I think whether you signed something is key.
You can't be made liable to something if you didn't sign a credit agreement.
Surely you would know whether you signed something or not?

eddddy

I also had a company credit card in my name a while back (well actually it was a charge card) - here's how it worked in my case:

I was responsible for paying it off each month - but the company acted as guarantor

I signed an agreement with the card company - but it was very short (no questions about income, status etc), and I was told they would not run a credit check on me - because they had a guarantor who would pay, if I couldn't/wouldn't.

Thinking back, I don't recall seeing it listed on my credit report.

I would have been responsible for any late fees, interest payments etc, and my employer would not reimburse them. My employer made this very clear to me in writing before I applied for the card. I'm surprised that yours hasn't.