On DMP but work want me to have a credit card

Pickle29

Hi
I’m 4 years into a DMP, all going well but credit rating is trashed. I’m in a new job & Work don’t know any of this. They now want to put me on internet banking and get me a credit card for work use only! I’m petrified I will be refused.
The logical me says it will be fine but the emotional me says the Bank will say no and work will then find out why!

Has This happened to anyone else?

It’s really worrying me!

Thanks

dionysia

Do you mean they've asked you to get a card in your own right that you only use for work and they reimburse you for it, or that they want to get a card in your name on a corporate account?

Pickle29

They want me to have a corporate card with my
Name which they will pay each month. Also for me to have access to go on the internet banking to pay work invoices by bacs
Thanks

Pickle29

Do you think banks do credit checks on named users on corporate credit cards and people having access to corporate bank accounts?

mark55man

I think you will find with most corporate cards its a branding and an internal admin thing. You will still be liable for your spending therefore my guess would be there would be an element of personal checking

I think you have some choices
* Apply and be rejected and then deal with the consequences, but your issues were 4 years ago and you can say you have changed
* Fess up now and then deal with the consequences
* Object to having one on philosophical grounds and see if there is an alternative mechanism (ie bank card - but then you would always be in arrears on spending - which I presume on a DMP doesnt work for you)

I can't imagine that as your credit record is trashed an application would hurt, even if it failed.

However, you could also do a little more research - ir when you get an application you will know who the provider is, and you could call anonymously (at worst they will need to know who your employer is and different schemes may have different rules). You should check what checks they do do.

HTH - I personally hate corporate cards and have avoided having one. If you do get one be very very careful with spends

kuratowski

I do have a corporate card and I can confirm that when it was first issued, they ran a personal credit check, which I later saw on my credit report. As it happens I've always been able to make an expense claim and be reimbursed before the corporate card payment was due, so from a cashflow perspective it didn't have any bad effect. However one of my colleagues - somewhat disorganised - has had problems due to leaving it months before completing expense claims!!

Pickle29

Hi
I wouldn!!!8217;t use it personally, it would be to buy things for the place I work. Mostly online purchases I think. I would need to reconcile when the statement comes in each month.
If Im not accepted I will carry on as now but it would be more convenient
And embarrassing if not accepted!

A_Nice_Englishman

I thought the idea of a corporate card was that the bill went straight to the 'corporation' rather than the holder paying the bill and being reimbursed?

The issuer would therefore only be interested in the creditworthiness of the 'corporation'.

kuratowski

A_Nice_Englishman wrote: »

I thought the idea of a corporate card was that the bill went straight to the 'corporation' rather than the holder paying the bill and being reimbursed

There may be different schemes, but the one my company uses (Amex) does not work that way. I am liable for anything spent on the card and I make the payments to the card. I claim it back from my employer.

Pickle29

Thats right - the bill does go to my company, they havent got my home address, just name & dob. Thats why Im asking whether they credit check me or if the head office says they want me to have a card - its their decision? Im confused

mark55man

As the posters above have shred there are many different schemes, with different arrangements, but it sounds like you might be OK on yours. I would just ask your company scheme administrator how it works, or even search for the T&C documents on the intranet.

Its a perfectly genuine concern to know if its is corporate or personal liability, and this concern is independent of your DMP. You could say you are worried about your credit score as are thinking of buying a house - would be legitimate and I am sure not 100% untrue at some point. You could ask whether the limit would count against your available credit!!