Corporate Credit Card for new job?

jws86

So, I start my new Desktop Support Technician position on Monday. The payroll lady emailed me today about what I need to bring for tax info etc. She also emailed me an application for a corporate credit card along with a guidelines page I had to sign off on about how to use the card and provide expense reports. I haven't had any experience with a company credit card before. Do they pull your own credit to apply for the card or is it through the company? I was just wondering how these corporate cards work when they are applied for? I would rather not have an inquiry on my credit report for a card I can't even use for personal use?

networker050184

It has always gone through the company and not on your personal credit in my experience.

jws86

networker050184 wrote: »

It has always gone through the company and not on your personal credit in my experience.

On the application it only asks for the last 4 digits of my social. So I was wondering how they would do it against my credit anyway. They don't have my full social yet for anything because I have not completed any paperwork besides signing an offer of employment. She asked for the application back asap so I'm assuming they want to get it processed quickly.

Plantwiz

I no longer use a company card...and here is why,

READ the guidelines on the card's website, the three major all do this and I would guess the smaller cards do as well, but specifically, if your company defaults, they come after YOU and by signing up for the corporate card! you also AGREE to assume the debts of any cards tied to that corporate account. So, no thanks. I will pay my own expenses and wait for a reimbursement check, the worst I am ever out is my purchases.

FWIW

kaneohe7

Plantwiz wrote: »

if your company defaults, they come after YOU and by signing up for the corporate card! you also AGREE to assume the debts of any cards tied to that corporate account.

FWIW

I better check the fine print of my US government credit card because there is no way I am paying that $17 trillion debt by myself, but I guess if they ever did at that point $17 trillion USD would be pocket change.

Plantwiz

AmEX is the worst, but MC and V have it too.

And for a long time, I thought it was 'better' to use a corporate care, but when I found out I could be responsible for over $100K if the company failed to make their payments, I had my card cancelled. The company is 'stable' and the reimbursement happens within a few days (many times the same day) a receipt is turned in, so to me, I prefer to cover my expenses and they can pay me back.

...and this is why the card company wants YOUR SS#, so the debt can be applied to you if the TIN fails to pay.

jws86

From what I can tell, this company is far from going under so I am not concerned about that. At the rate they are hiring staff in both IT and other departments I don't think there is anything to worry about. Not to mention they hired me for a facility that they just opened a year ago and they are still expanding. I think being a new hire, I'll just get the card and if I suspect any problems later on I will discuss a different option with someone. Thanks for the info though!

jibbajabba

kaneohe7 wrote: »

I better check the fine print of my US government credit card because there is no way I am paying that $17 trillion debt by myself, but I guess if they ever did at that point $17 trillion USD would be pocket change.

At least you won't have to worry. You know it is harder to work on debt if there is a slight possibility you can clear it in your lifetime ... At this rate you know you ... PROBABLY won't so you can sleep at night .. Having said that - there are about 220M government employees so if that would be an even split you'd only have to pay about 772k

Iristheangel

I'm on my second corporate card for my second company. The last one (JP Morgan) didn't pull my credit but this last one did send an inquiry since I got pinged from my credit monitoring service. As far as policy, it really depends on the company. The last company required me to save receipts, scan them in, and write justifications for why I was spending the money and after it was done, they'd pay the credit card company directly. This company doesn't make me save receipts or write long explanations. The transactions are listed on a company site where I just put them in buckets (client dinner, certifications, hotel, rental car, other, etc) and then click submit. My boss approves it and the company cuts a check directly to the company.

I used to have old companies that would have me put my expenses on my own cards and send in the receipts but if you have to buy parts, high fares, or travel often, it really can hurt financially while you're waiting for reimbursement.

Plantwiz

jws86 wrote: »

From what I can tell, this company is far from going under so I am not concerned about that. At the rate they are hiring staff in both IT and other departments I don't think there is anything to worry about. Not to mention they hired me for a facility that they just opened a year ago and they are still expanding. I think being a new hire, I'll just get the card and if I suspect any problems later on I will discuss a different option with someone. Thanks for the info though!

This position is the 'norm' for many, and I once held similar. To each his\her own. Very few (I suspect) employees get stiffed for the corporate bill, but it is something to be aware of. I know I can cover my expenses and my expenses are reimbursed very timely, so for me, I prefer to pay first.

The other thing to keep in mind is when you leave a company where you have a 'personal' business credit card is to confirm your name is removed from the account and your card closed immediately.

mostly a matter of simple housekeeping, but things to be aware of...

Most likely, you will be just fine.

BlackBeret

With the military they run our credit and it is clearly our responsibility to pay the bill whether or not our travel vouchers have been processed. The biggest thing to remember is to submit expenses immediately and properly so that you can be repaid quickly enough to pay the bill. For companies that pay the bill, just make sure it's paid. If your name is on the card than it can come back to you.

Raisin

I like to put all my travel expenses on my own card so I can get the reward points.

jvrlopez

BlackBeret wrote: »

With the military they run our credit and it is clearly our responsibility to pay the bill whether or not our travel vouchers have been processed. The biggest thing to remember is to submit expenses immediately and properly so that you can be repaid quickly enough to pay the bill. For companies that pay the bill, just make sure it's paid. If your name is on the card than it can come back to you.

This. We had an officer who didn't want to pay $15 or so left over on his travel card and he ended up damaging his credit because of it.