Company Amex

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Hey all,

I travel quite a bit with work, and although all expenses can be claimed back, I could do without being out of pocket for the time it takes to be reimbursed. I've been advised to apply for a Company Amex.

I'm worried if I'll be accepted for one or not. I'm not sure if it comes down to me as an individual, or the company.

My credit score isn't terrible (I don't think). I've never not paid anything, never been bankrupt or had any CCJs but I've been late on plenty of payments.

In the past, I've received credit to buy a car, always been fine getting mobile contracts, and bought a laptop on finance. (Although nothing within 2 years).

Any advice/opinions on this would be appreciated!

Cheers
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Comments

  • Poppops
    Poppops Posts: 313 Forumite
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    I assume that, like my company do, your company will manage the account and take care of all the bills and all you do is provide receipts and validate purchases. If this is the case then it doesn't matter what your financial standing is. You are basically just an additional cardholder and it won't show on your credit file.
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  • [Deleted User]
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    Hey all,

    I travel quite a bit with work, and although all expenses can be claimed back, I could do without being out of pocket for the time it takes to be reimbursed. I've been advised to apply for a Company Amex.

    I'm worried if I'll be accepted for one or not. I'm not sure if it comes down to me as an individual, or the company.

    My credit score isn't terrible (I don't think). I've never not paid anything, never been bankrupt or had any CCJs but I've been late on plenty of payments.

    In the past, I've received credit to buy a car, always been fine getting mobile contracts, and bought a laptop on finance. (Although nothing within 2 years).

    Any advice/opinions on this would be appreciated!

    Cheers

    I suggest you ask your employer for full details of the Amex card scheme they have.

    Are you sure it's even a credit card? It may be the traditional charge card? If you have to claim expenses back, what happens if your employer is late paying your expenses (or you are late submitting them)?
  • anonanon1990
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    Pretty sure it is.

    It essentially falls to us. We pay on the card, and we are charged if the balance isn't cleared. (We can claim everything back though).
  • scoly
    scoly Posts: 77 Forumite
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    ..My credit score isn't terrible (I don't think). ...but I've been late on plenty of payments...

    Another example of how utterly meaningless credit scores are.

    But if you've not experienced any difficulties obtaining credit, what make you think it will be any different with Amex?
    I suggest you apply. If they do reject you, try these alternatives here:
    http://www.moneysavingexpert.com/credit-cards/bad-credit-credit-cards

    In fact you may want to forget Amex entirely - it's not widely accepted.
  • reclusive46
    reclusive46 Posts: 2,698 Forumite
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    scoly wrote: »
    In fact you may want to forget Amex entirely - it's not widely accepted.

    If its for business expenses I don't imagine they'll have any trouble. Although he doesn't mention what type of expenses pretty much all petrol stations, supermarkets, hotels, car rental companies and the majority of restaurants take it (With pretty much all chains taking it). Merchants are normally much happier to take an Amex than a corporate Visa or MasterCard as they can sometime cost a merchant 3 or 4% more than a standard Visa/MC. Also I wouldn't say its not widely accepted as thats misleading, Most major chains accept as do many small businesses, its definitely the exception rather than the rule thats its not taking.

    Also as someone mentions above, Corporate amex's are normally just like additional cardholders so your credit doesn't matter. Although on some occasions the company passes the liability to you and then it does matter (Although this is very rare).
  • planteria
    planteria Posts: 5,321 Forumite
    First Anniversary Combo Breaker First Post
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    yes, i would ask for full details from your employer.

    if it is a Company Card then there is nothing for you to think/worry about, other than ensuring that you only use it for expenses that they will be comfortable with.
  • InsideInsurance
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    American Express do multiple schemes for companies so you'd really need to know which one it is.

    One of the most common ones the company is in effect the guarantor for the card and so unless you have the most dire rating (and really more looking at CIFAS loadings than anything else) then the card will be given because they can pursue the company if you fail to pay.
  • Tiddlywinks
    Tiddlywinks Posts: 5,777 Forumite
    I've been Money Tipped!
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    Pretty sure it is.

    It essentially falls to us. We pay on the card, and we are charged if the balance isn't cleared. (We can claim everything back though).

    I don't really understand what you mean.

    Will you be the account holder or will your company be the account holder with you as a card holder on their account?

    Will you be settling the debt with Amex or with the company? Or will you give the receipts to your employer and they do the checks etc of your spending.

    You need to understand the process and be able to explain it before anyone can give advice.
    :hello:
  • anonanon1990
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    We claim the expenses back via the company and they're paid directly to the card.

    I'm unsure if we're just a cardholder, or if it's classed as our personal card. I do know that we have to apply via work.
  • mrchiggles
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    We have the same, technically I'm the cardholder although it doesn't appear on my credit file and they never did any searches so I think the employer technically "underwrites" it. They certainly say if you don't pay the card then it's a disciplinary thing.

    Otherwise I have to claim the money back from the company which I then use to pay the card - having a separate bank account helps a lot with this!
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