Expired

Company credit card - does it affect my credit rating?

62 replies
Found 7th Dec 2010
If I put £90,000 on a company credit card and then pay it off two weeks later, does that positively affect my credit rating or does it not "count" as it's a company card?

62 Comments

wont count-the bill doesnt go to your address-in fact,its doubtful the card company even know your details(other than the name)-your company will have just asked for a card with your name on it,but they are liable for the bill-it makes no difference to your personal rating one way or another-

My god sense from Barky. Who would have thought it?
Edited by: "chester123" 7th Dec 2010

Original Poster

barky

wont count-the bill doesnt go to your address-in fact,its doubtful the … wont count-the bill doesnt go to your address-in fact,its doubtful the card company even know your details(other than the name)-your company will have just asked for a card with your name on it,but they are liable for the bill-it makes no difference to your personal rating one way or another-


That's where you're wrong! The bill DOES go to my address! I am liable for all the bills.

Banned

inb4 poor people ask what £90k means.

vibeone

inb4 poor people ask what £90k means.



http://i357.photobucket.com/albums/oo11/zermattbusby/ferrari_f430_screensaver_by_bigblog.jpg

baffledsalmon

That's where you're wrong! The bill DOES go to my address! I am liable … That's where you're wrong! The bill DOES go to my address! I am liable for all the bills.



personally never heard of it working that way-so you are saying you have a PERSONAL credit limit that allows you to make a single 90k purchase on the card then?

how is it a cc credit card if your liable at your address??

baffledsalmon

That's where you're wrong! The bill DOES go to my address! I am liable … That's where you're wrong! The bill DOES go to my address! I am liable for all the bills.



Well it does not sound like any company card i know of, unless you own the company.

Original Poster

barky

personally never heard of it working that way-so you are saying you have … personally never heard of it working that way-so you are saying you have a PERSONAL credit limit that allows you to make a single 90k purchase on the card then?


Yes. It is a card that I had to apply for personally... bills go to my address, I am liable for the bills etc. When I spend on it, I reclaim the money through company expenses.

Original Poster

sven256

Well it does not sound like any company card i know of, unless you own … Well it does not sound like any company card i know of, unless you own the company.


Well that's the way it works!

baffledsalmon

Yes. It is a card that I had to apply for personally... bills go to my … Yes. It is a card that I had to apply for personally... bills go to my address, I am liable for the bills etc. When I spend on it, I reclaim the money through company expenses.



oh well,I stand corrected then-my experience arranging these for my brothers companies employees is that we just ask for a card in a certain name and the bill still goes to his company-they never ask for any other details cos he is liable-personally have never heard of an employee having to use their own details to get a card for business purposes,but maybe different companies operate different ways. I know some companies ask you to use your own personal card,and then claim back at end of month,but that ISNT a company credit card so I dont know.

Did you sign a consumer credit agreement?

Original Poster

Ok, well let me clarify the situation!!
I have a company AMEX, in my own name, billed to myself. Say I have to spend £100 on a rail ticket... I can either use my AMEX or my own money to pay for this. Then, I submit an expense claim and the £100 is paid into my bank. Therefore, if I have used my AMEX to pay for it, I can pay off the bill... alternatively, I just get the £100 back to replace my own money that I spent.
Due to the fact we often rack up monthly bills of £3000+, it's a way of providing us with the ability to pay for our travel/phone bills etc without having to use a huge chunk of our own money.
Make sense?

Banned

baffledsalmon

Yes. It is a card that I had to apply for personally... bills go to my … Yes. It is a card that I had to apply for personally... bills go to my address, I am liable for the bills etc. When I spend on it, I reclaim the money through company expenses.



So the cards in your name?

Original Poster

colinsunderland

So the cards in your name?


Correct.

Banned

How is it a company card if you had to apply for it, it is in your name/address, & you pay the bills?
Do the statements or card have the company name on them at all?

What input do the company have on the card?

baffledsalmon

Ok, well let me clarify the situation!!I have a company AMEX, in my own … Ok, well let me clarify the situation!!I have a company AMEX, in my own name, billed to myself. Say I have to spend £100 on a rail ticket... I can either use my AMEX or my own money to pay for this. Then, I submit an expense claim and the £100 is paid into my bank. Therefore, if I have used my AMEX to pay for it, I can pay off the bill... alternatively, I just get the £100 back to replace my own money that I spent.Due to the fact we often rack up monthly bills of £3000+, it's a way of providing us with the ability to pay for our travel/phone bills etc without having to use a huge chunk of our own money.Make sense?



yes,makes perfect sense WHY you have the card,but does it actually have the company name on it as well as yours,or just your name? many companies operate the system you describe,but to ask an employee to stand a bill for NINETY THOUSAND pounds on their personal credit sounds extraordinary to me-why dont they just pay it themselves? so am I right in thinking if your company goes bust tomorrow you are ninety grand in the hole?

So it's not a company credit card, it's your own credit card that you use for expenses.

Trying to show off perhaps???

if its your card then why would the transaction 'not count cos its a company card'??

odd thread imo

Original Poster

colinsunderland

How is it a company card if you had to apply for it, it is in your … How is it a company card if you had to apply for it, it is in your name/address, & you pay the bills?Do the statements or card have the company name on them at all?What input do the company have on the card?


All I know is it goes through the company in some way (ie we have people that deal with our company at AMEX), but is linked to me (rather than my company being given 10000 credit cards that they just give out to employees).

Original Poster

civms47

So it's not a company credit card, it's your own credit card that you use … So it's not a company credit card, it's your own credit card that you use for expenses.Trying to show off perhaps???


Have you read any of this thread?

Banned

I don't get why you think you have a company credit card fishy?

I claim expenses on stuff I've put on my credit card. I also have a dormant credit card that I could use for company stuff if I wanted to. Neither of the cards are anything to do with the company - but the company still pays my expenses?

Banned

baffledsalmon

All I know is it goes through the company in some way (ie we have people … All I know is it goes through the company in some way (ie we have people that deal with our company at AMEX), but is linked to me (rather than my company being given 10000 credit cards that they just give out to employees).



well it sounds like a personal card to me (and in relation to the post above I have read the thread and can see nothing that makes it a company card either!) - I suggest you find out who is liable for the debt on it before you even consider sticking £90k on it. In fact if you are liable for it you must be mad to even consider it.

Original Poster

I'M GOING TO EXPLAIN THIS ONCE MORE AS YOU'RE ALL CLEARLY NOT LISTENING
1. The card is in MY name but it is a CORPORATE card.
2. I am liable for all bills, but as I don't use it for anything other than company expenses, that doesn't matter.
3. The card is NOT something I would get on my own - ie it's only something we get through the company

baffledsalmon

Have you read any of this thread?



Yep, you claim you have a company credit card, turns out it's your own credit card which anyone with common sense would know, therefore it's a pointless thread except for you to tell everyone you're spending £90k on your card.

Concise enough for you?

Original Poster

colinsunderland

well it sounds like a personal card to me - I suggest you find out who is … well it sounds like a personal card to me - I suggest you find out who is liable for the debt on it before you even consider sticking £90k on it. In fact if you are liable for it you must be mad to even consider it.


The fact that I work for a multi billion pound company perhaps?

As I said previously. HAVE YOU SIGNED A CONSUMER CREDIT AGREEMENT?

Banned

baffledsalmon

I'M GOING TO EXPLAIN THIS ONCE MORE AS YOU'RE ALL CLEARLY NOT LISTENING1. … I'M GOING TO EXPLAIN THIS ONCE MORE AS YOU'RE ALL CLEARLY NOT LISTENING1. The card is in MY name but it is a CORPORATE card.2. I am liable for all bills, but as I don't use it for anything other than company expenses, that doesn't matter.3. The card is NOT something I would get on my own - ie it's only something we get through the company



Sorry but if it is in your name, address and you a liable for the bills then its not a company card.
Maybe your company has a deal by which it gets special rates through AMEX, but it certainly isn't a company card from what you have described.

Original Poster

chester123

As I said previously. HAVE YOU SIGNED A CONSUMER CREDIT AGREEMENT?


Not as far as I can see. Just dug out the application form. It requires both my details, and my company details, a direct debit... noithing else. The card has my name alone on it.

baffledsalmon

I'M GOING TO EXPLAIN THIS ONCE MORE AS YOU'RE ALL CLEARLY NOT LISTENING1. … I'M GOING TO EXPLAIN THIS ONCE MORE AS YOU'RE ALL CLEARLY NOT LISTENING1. The card is in MY name but it is a CORPORATE card.2. I am liable for all bills, but as I don't use it for anything other than company expenses, that doesn't matter.3. The card is NOT something I would get on my own - ie it's only something we get through the company



we are listening! when I had a card for emergencies when I ran social club trips for asda-the card clearly said "asda stores plc" and then had my name underneath. my brothers companies cards say the name of his company and then the employee name-these are corporate cards-if yours only has your name on it,it is NOT.I still dont understand how a company can ask an employee to run up a 90k bill when they are personally liable.

a company/corporate card has the company name on it-Im not trying to start an argument here,but thats a FACT. everyone else has told you this too so maybe it isnt the rest of us who arent listening? you have a card you use for company expenses and then claim back on,plenty people do this but that isnt a company card,and no company Ive ever heard of would ask an employee to spend 90k on their personal card.

baffledsalmon

I'M GOING TO EXPLAIN THIS ONCE MORE AS YOU'RE ALL CLEARLY NOT LISTENING1. … I'M GOING TO EXPLAIN THIS ONCE MORE AS YOU'RE ALL CLEARLY NOT LISTENING1. The card is in MY name but it is a CORPORATE card.2. I am liable for all bills, but as I don't use it for anything other than company expenses, that doesn't matter.3. The card is NOT something I would get on my own - ie it's only something we get through the company



1- Company Cards regularly have the employees name on them, but NEVER have the bills sent to their home address.
2- If YOU personally are liable for all bills then this is NOT a company credit card, if the company you speak of is a limited company then you cannot be held liable for company debts, the only instance this is the case is if you are a sole trader.

Personally I think if you've put 90k through on this card and don't know the in's and outs then well in advance then you are a moron, and shouldnt be allowed to play with any kind of plastic never mind one with a 16 digit number.

Original Poster

WHETHER IT'S A COMPANY CARD OR NOT, AS IT'S GOT MY NAME ON IT, WILL IT POSITIVELY AFFECT MY CREDIT RATING??? THAT'S ALL I WANT TO KNOW!

Banned

Is it a nigerian company you work for?

Banned

baffledsalmon

WHETHER IT'S A COMPANY CARD OR NOT, AS IT'S GOT MY NAME ON IT, WILL IT … WHETHER IT'S A COMPANY CARD OR NOT, AS IT'S GOT MY NAME ON IT, WILL IT POSITIVELY AFFECT MY CREDIT RATING??? THAT'S ALL I WANT TO KNOW!



It depends on whether it is a company credit card or not. If it isn't it won't affect your rating, if it is it will affect it

if you have a big enough credit limit to spend 90k then i think your credit rating is fine!!

Original Poster

Paddy Charlie

Is it a nigerian company you work for?


No, as I've already said, it's a multi national, multi billion, multi frickin' everything company with over 100,000 employees.

If you have not signed a consumer credit agreement then you are not liable for the debt.

What this sounds like is that your company has one global limit which is then split among the other cards. The application you made was not to the credit card company but to your place of work. If you do not pay the bill your company would pay on your behalf but you would be liable to pay for them.

It sounds like it is a corporate credit card. It will have no bearing on your credit file if it is paid or not. What could effect your credit file is if you did not pay and your company pursued you for the debt.

baffledsalmon

WHETHER IT'S A COMPANY CARD OR NOT, AS IT'S GOT MY NAME ON IT, WILL IT … WHETHER IT'S A COMPANY CARD OR NOT, AS IT'S GOT MY NAME ON IT, WILL IT POSITIVELY AFFECT MY CREDIT RATING??? THAT'S ALL I WANT TO KNOW!



I have the exact same card as you ...AMEX Corporate Credit Card.

YES is your answer !!

YOU are resposible for ALL bills on it and it DOES affect your Credit Rating if the bill is not paid on time !!

There is also NO generic Credit Rating meaning it will probably only affect your credit rating with AMEX if the bill isn't paid .......

....so if your in the black with another CC company i expect it will stay that way....


Edited by: "Mecoconuts" 7th Dec 2010

Banned

baffledsalmon

WHETHER IT'S A COMPANY CARD OR NOT, AS IT'S GOT MY NAME ON IT, WILL IT … WHETHER IT'S A COMPANY CARD OR NOT, AS IT'S GOT MY NAME ON IT, WILL IT POSITIVELY AFFECT MY CREDIT RATING??? THAT'S ALL I WANT TO KNOW!



the answer to that depends if it is a company card.
If it is (which it isn't) then of course not, its a company debt and nothing to do with you.
If it isn't and it is a personal card (which it is) then of course it will. It will show on your credit files, unless its paid back off before the statment is produced. I'm not sure it will have a positive effect though. In fact I would expect it to be more of a negative effect.

baffledsalmon

No, gypsy. I am putting £90k of COMPANY EXPENSES on my card... it's … No, gypsy. I am putting £90k of COMPANY EXPENSES on my card... it's nothing to do with me!



Sorry little girl, I should have been clearer - you claim you have a company credit card, turns out it's your own credit card which anyone with common sense would know, therefore it's a pointless thread except for you to tell everyone you're spending £90k on your card, and therefore have a credit limit of at least £90k.

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