AMEX Corporate Card - will it improve my credit rating?

Dragon_of_Consumer_Power

I have an AMEX Corporate Green Card (charge card), which was issued in my name by American Express. There is no mention of my employer's name on the card, although AMEX are obviously aware of who I work for, hence why it's a corporate card. I have signed a direct debit mandate for AMEX to collect the card's balance in full, each month, from my personal bank account.

My question is: Will this improve my credit rating, provided I do indeed pay the balance off in full each month? Or will it not count as it's a corporate card?

thebritishbloke

IIRC, it does still show up on your credit report. So yes, it will affect your ability to get credit based on how you use and repay it.

Dragon_of_Consumer_Power

Thanks, I appreciate it!

cautiousjon

Interesting question. I also have an American Express Corporate Card and am jointly liable for the purchases. However, it does have my company's name on the card. I'm curious how it will affect my credit record as the credit limit is 'near unlimited' (the company is a huge global corporate). I have been told that American Express usually starts raising eyebrows once the balance goes over £20,000 but the highest I have taken the balance to is about £8000.

phona

I too have an American Express Corporate card and mine has my company's name on it.
It doesn't appear on my Noddle or Equifax reports, though there is a search on Equifax from AMEX. I haven't seen my Experian report since I've had the corporate card so can't comment on that.

Perhaps they only report if you miss a payment, like pay-monthly insurance.... but I won't be rushing to miss payments to find out!

phona

To satisfy my own curiosity I just looked up the terms and conditions. Section 18d says:

Unless your Account has "Full Corporate Liability" as described in the “Liability for Charges” section of this Agreement we may:
i) exchange the Data with credit reference agencies (“CRAs”). If you owe us money and do not repay in full or on time, we may tell CRAs to record the outstanding debt. This information may be used to make decisions about offering products such as credit and credit-related services and other facilities to you or another individual with an existing financial association with you and for preventing fraud and tracing debtors; ...

So sounds like the corporate card won't improve your rating but is a pretty efficient way to destroy it! :eek:

Terms and conditions I quoted here