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Company forcing me to use corporate Amex card

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  • eddddy
    eddddy Posts: 18,000 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    abedegno wrote: »
    I think this card is the third type - joint liability - which is probably why my employer is asking me to sign an annexe taking full personal liability.

    I have had a joint liability card with my employer. It worked roughly like this:
    • Joint liability between my employer and myself
    • I was not credit checked - I assume the lending was based on my employer's credit-worthiness.
    • My card activity wasn't reported to any of the Credit Reference Agencies.
    • My employer required me to pay my bill each month - but if I didn't pay, the card co would take payment from my employer (so no black mark on my credit record).
    • So if I didn't pay, it would be a disciplinary matter between my employer and me.
  • chrisw99
    chrisw99 Posts: 359 Forumite
    Part of the Furniture Combo Breaker PPI Party Pooper
    eddddy wrote: »
    I have had a joint liability card with my employer. It worked roughly like this:
    • My employer required me to pay my bill each month - but if I didn't pay, the card co would take payment from my employer (so no black mark on my credit record).

    If you had to pay the bill yourself each month, how is that any different than just using your own card.

    Also, what if you couldn't afford to pay it? Were you always able to claim back the expenses before the bill was due?
  • SuiDreams
    SuiDreams Posts: 2,393 Forumite
    Part of the Furniture 1,000 Posts
    chrisw99 wrote: »
    If you had to pay the bill yourself each month, how is that any different than just using your own card.

    Also, what if you couldn't afford to pay it? Were you always able to claim back the expenses before the bill was due?


    this sounds like the arrangement we have.


    Advantage for the company is that they get various (unknown) benefits / discounts from Amex based on total spend over all cards.


    Advantage for the employee is they can get a credit card even if they wouldn't normally qualify, and spending on expenses isn't coming off personal cards so doesn't affect their ability to spend for personal needs.


    With our company no issues claiming back expenses and payment runs are once a week, any issues would be employees own in not following processes (e.g. submitting expenses in good time).
  • System
    System Posts: 178,348 Community Admin
    10,000 Posts Photogenic Name Dropper
    The company may get some kickback but it's mostly to do with being able to analyse corporate spend better.

    They are actually useful if you travel as airlines, hotels etc will be more amenable to a Corporate Amex than personal card.

    You can also ask for emergency advances etc in a crunch.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • stripeyfox
    stripeyfox Posts: 474 Forumite
    eddddy wrote: »
    I have had a joint liability card with my employer. It worked roughly like this:
    • Joint liability between my employer and myself
    • I was not credit checked - I assume the lending was based on my employer's credit-worthiness.
    • My card activity wasn't reported to any of the Credit Reference Agencies.
    • My employer required me to pay my bill each month - but if I didn't pay, the card co would take payment from my employer (so no black mark on my credit record).
    • So if I didn't pay, it would be a disciplinary matter between my employer and me.

    Yeah same for me. I guess there's nothing stopping me from going out and spending on myself BUT it is going to catch up with me very quickly and would result in me losing my job and probably being prosecuted for theft.
  • chrisw99
    chrisw99 Posts: 359 Forumite
    Part of the Furniture Combo Breaker PPI Party Pooper
    Isn't the bigger worry for the OP the fact that AMEX seems to be less and less available as a payment option in a lot more places these days. I'm always seeing "we no longer accept AMEX" signs all over the place.
  • Paul_DNAP
    Paul_DNAP Posts: 751 Forumite
    500 Posts Second Anniversary Photogenic Rampant Recycler
    chrisw99 wrote: »
    Isn't the bigger worry for the OP the fact that AMEX seems to be less and less available as a payment option in a lot more places these days. I'm always seeing "we no longer accept AMEX" signs all over the place.


    Yes, I used to have a corporate Amex (aaahhhh, those were the days) but had to often use my personal VISA. We eventually switched to a corporate VISA issued by the company's bank. I never had to sign any credit agreement for them, it was a contractual term and company policy that I'd not take the p out of the expense account.


    Funny story though, I stopped at a motorway services with a colleague and there was an Amex stand on the foyer, and so we were swapping stories about how difficult it was to use them when we had them, and unbeknownst to us sat on the next table with her face getting redder and redder was the Amex rep from the stand who eventually chipped in with a "it's actually a very good credit card, you know" and, erm no it isn't.


    I did have a personal Amex when they had the one with a reasonable nectar point reward, but that seems a long time ago too.
    (Although I could be wrong, I often am.)
  • System
    System Posts: 178,348 Community Admin
    10,000 Posts Photogenic Name Dropper
    Paul_DNAP wrote: »
    and unbeknownst to us sat on the next table with her face getting redder and redder was the Amex rep from the stand who eventually chipped in with a "it's actually a very good credit card, you know" and, erm no it isn't.

    In fairness. Apples to Apples AMEX are unquestionably the best credit cards available. Best customer service by a country mile, best rewards, best perks, best credit limits (often).

    The only issue is, as you say acceptance.
    However where it is accepted it's my go to card.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • phillw
    phillw Posts: 5,665 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 1 May 2019 at 3:56PM
    Paul_DNAP wrote: »
    You're left with the identical exposure to and cover for fraudulent use,

    Consumer credit act says you can't be forced to pay for credit where you didn't receive the goods, therefore fraudulent use is not a problem. A corporate Amex card that is issued in the US is not covered by the consumer credit act.
    Paul_DNAP wrote: »
    and you're also still exposed to charges and interest in the shortfall if the accounts don't pay your expenses in time for you to settle your card.

    If it's a 0% purchases card then all I'm losing out on is the stoozing interest, if I had to pay it back then I just lose savings interest. Of course if the expenses are high enough that I can't get the credit limit, then I may have to do things differently.
  • lisyloo
    lisyloo Posts: 30,077 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I work for a large company and we HAVE to use Amex.
    I think it’s great as I don’t need to use my own credit card.
    Hotels and travel are organised by the company travel agent.
    I guess it could be tricky for meals, but if you’re booked into a hotel accepting Amex then you can eat there.
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