Corporate AmEx

[matlock99]

Hi there -- does anyone know if the standards for getting a Corporate AmEx are lower than getting a regular AmEx? Perhaps because the company does a high volume of business with them?

I'm eligible for a corporate AmEx, and could really use one as I'm putting a lot of travel on my personal card, but I'm nervous about how I'll look to my employer if I apply and am declined. My company is in NY and I'm in NJ. Here's how my scores look:

TU: 660 -- six payment after chargeoff/collections, five open credit cards (two AU), one car loan, zero public records

EQ: 598 -- ten 120+ days past due, five open credit cards (two AU), one car loan, one judgment (2004 -- status: appealed)

EX: 668 -- one account legally paid in full for less than full balance, five OK/was collections, five open credit cards (two AU), one car loan, one judgment (2003)

Any idea on whether or not these are good enough for a corporate AmEx? I work for a huge corporation, so I'm hoping that the threshold is a little lower. Thanks!

[willingtocope]

Really tough to know for sure. Really big company corporate AMEX's are issed in the company name to you with the stipulation that you are responsible for paying the balance. Some smaller companies get you a personal card that just happens to have their name on it. The first type probably doesn't require a look at your personal CRs...the second probably does.

You might check your corporate employee manual to see if there's any clues there...otherwise, I'd suggest you give it a shot. Chances are your credit is better than your boss's anyway....

[matlock99]

Yeah, at my last company (which was another huge corporation), they issued corporate AmExes, but the employee was responsible for everything (billing statements went to home addresses, on your credit report, etc). I was declined -- but then again, I applied several years ago. I have a feeling my new company does the same thing, since my colleagues get billing statements sent to their home addresses. Thanks!

[jq26]

The company I work for requires all employees get one. I work for a company that has upwards of 100,000 employees. I applied in 2004 and was denied. They most certainly do require good personal credit. Had to have the director of my department write a letter that my company personally guarantees the balances. The card, to this day, has a $5000 monthly limit on it for that reason.

Anyway, they DO NOT report tradelines on your credit report. I spoke to AmEx many times about this. The only time they report is if you default...therefore, there is NO upside (no reporting of good usage) and potential downside for owning one (balance to be paid in full monthly, inquiry upon application, potential for reporting a late).

If you don't need it, I don't suggest it. And, I've had one for three years and only used it once (10 days in Vegas- my personal card was already tapped out!). It is pointless if you have other high limit credit cards to use for travel.

[daveyzzz]

I had to get one of these a few years back for corporate travel. As far as I know there was no limit , or if there was I never hit it. But I found out about a year after I got the card that our Comptroller had to personally guarantee that I would not default. It was supposed to be for corporate use only , but I ALWAYS used it for personal purchases also. As long as I kept it paid nobody cared.

I heard a story about someone getting one of these cards at our company - then going to a car dealership and charging a new car before he skipped town never to be seen again. I don't think they ever did track him down , or get the money back!

[Magdalen77]

Hi there -- does anyone know if the standards for getting a Corporate AmEx are lower than getting a regular AmEx? Perhaps because the company does a high volume of business with them?

I'm eligible for a corporate AmEx, and could really use one as I'm putting a lot of travel on my personal card, but I'm nervous about how I'll look to my employer if I apply and am declined. My company is in NY and I'm in NJ. Here's how my scores look:

TU: 660 -- six payment after chargeoff/collections, five open credit cards (two AU), one car loan, zero public records

EQ: 598 -- ten 120+ days past due, five open credit cards (two AU), one car loan, one judgment (2004 -- status: appealed)

EX: 668 -- one account legally paid in full for less than full balance, five OK/was collections, five open credit cards (two AU), one car loan, one judgment (2003)

Any idea on whether or not these are good enough for a corporate AmEx? I work for a huge corporation, so I'm hoping that the threshold is a little lower. Thanks!

I had a corporate AmEx for my job, now I have a corporate Visa. They never ran a credit report, nor do they report. The bills come to me, but the theory is that I'll get reimbursed before the bills show up. If an employee travels for business more than 3 times/year they must get the card. We aren't permitted to use personal cards for business in case we get rewards. Various vendors are blocked, so people can't merely run off to buy a car, etc.

I work for the Commonwealth of PA, so some of the mandates probably don't apply in a private industry job.

[afdude2018]

I have a BofA business card through the Air Force. It's to be used when we travel on Air Force/military business only. Using it for personal stuff gets us in very very serious trouble. The resource advisor in our squadron actually turns it off when we are not travelling to avoid any touble with personal stuff. It's called a Government Travel Card. Those of you in the military on here should know what they are.