Corporate Credit Card - Poor Credit History

rhowes2000

Good afternoon,

Please would anybody be able to help me with a query if possible. Does anybody have experience of applying for a company credit card if you have a poor personal credit history? I have recently applied and today all my colleagues recieved their cards, I didnt receive anything. My main concern is that the company will obviously find out very soon why I do not have a card. Does anybody know how stringent the credit checks are for company credit cards?

Also are the company able to take any disciplinary action over this? I did not need a credit check when I applied for the position and I am not employed by a financial institution.

Thanks for reading

Snaggles

I've never had a company credit card so I don't honestly know the answer to your question - but I would have thought the company themselves would be responsible for the monthly payments on the card, so I'm not sure if your own credit history would come into it - did you have to fill in an application form for the card? Do you know if they were definitely going to credit check you (for the card I mean, not the job)? Hopefully someone else will know more.

rhowes2000

Thanks Snaggles, I thought the same until I read the terms and conditions of the application. It looks the same as a standard personal credit card unfortunately.

pusscat

Hello

I have held a company Amex with a large multinational - I was jointly and singly liable for the debt, same as with any joint product.

At this company, one of my engineers was turned down by Amex due to dodgy credit history - he had to carry a cash float instead, it made life very difficult for him (and me!) as the hotel bills were often in the £100's. It was also very difficult to keep quiet as all the other guys had one - he did tell everyone about it anyway though.
From what I can remember, this was not an offence against company poilicy, just an administrative pain in the b**t

This company has now got a policy that if you cant hold a company credit card then you carry a cash float of £100 (I think) and you pay the rest of your expenses yourself and claim them back via the expenses claim system.

The company I own has credit cards (Visa) where only the company is responsible, but that is because only I and Mr Puss have them - and we own the compnay.

Sorry I can't be any more specific, but I would think it unlikley that any company is going to let you loose with a c/c without you being liable - you could spend the money on a ticket to Bali and they could be left with the bill.....

Puss
xx

rhowes2000

Hi Pusscat,

Thanks for your post, I too work for a large multinational and it was an Amex card I applied for. I can claim through expenses in the normal way, I just can't afford large hotel bills etc as the expense claims process takes around 10 working days and I would have no money for bills etc in the meantime. Your post has reassured me though, my concern is disciplinary action. I really enjoy my job and certainly don't want to jeapordise it. I am working on my debts but I've long way to go before I have a decent credit history.

pusscat

rhowes2000 wrote: »

Hi Pusscat,

Thanks for your post, I too work for a large multinational and it was an Amex card I applied for. I can claim through expenses in the normal way, I just can't afford large hotel bills etc as the expense claims process takes around 10 working days and I would have no money for bills etc in the meantime. Your post has reassured me though, my concern is disciplinary action. I really enjoy my job and certainly don't want to jeapordise it. I am working on my debts but I've long way to go before I have a decent credit history.

I believe that Amex have pretty tight criteria - but you never know.....
One alternative which we tried (it did not always work) was to have the hotel booked via the corporate travel agents and the bill sent back to the company - it meant the engineer concerned did not have to fork out too much cash....or if he was travelling with other engineers, they would pick up his hotel bill for him - but you have to be up front about not having a card - depends if you are trying to keep this private.

I do believe that there is no legal obligation on you to subsidise your company via the expenses system - but you would need someone who knows abouut employment law to confirm this - are you a union member? If you are then try your union.

One other alternative is - can you take out a personal credit card with someone a bit less strict - just for company expenses? Amex are the usual corpoprate card because they are a debit card with a 30 day payment cycle, rather than a credit card - you can't carry any balance over - less risk to the company. You could put your cash float against the card so you start off in credit? Or you could look at a pre-paid credit card - I don't know much about them, but I am sure there are people on here who do.

Hope it all works out for you

Puss

xx

funky_munky

I had this problem in a previous Job as i had just graduated and had not much credit history - I had also moved around a lot. the main problem was not being on the Electoral Roll - You could use this as an excuse if you didnt want anyone else to know. I spoke with my manager about it and there is a way around it if the company is willing to sign saying they will be responsible for the card - my company wouldnt and I was told by them just to get others to book hotels etc on my behalf.

consumerpower

Hay,

I worked for a large company, and they issued Amex's as well, I am not trying to get your hopes up but I got one no problem, I dont know what my credit history was like but I am sure it wasn't good. I thought it was because the company goes at the guarentee, but you are personally liable. Maybe there are different set ups, but ours all had no limits (you need to be very careful though as they contact your work immediately if you dont pay it)

But I am sure they wont tell them why you have been refused, so go with the it must be cos I have moved loads or something.