AMEX Corporate Card possible?

[Anonymous]

Hi Everyone,

I appreciate your responses in advance!  I have done quite a bit of searching here and haven't seen anything that matches my situation exactly, so here goes.........my company is requesting I get an AMEX corporate card for travel expenses and they said that AMEX will pull my credit report and can be rather stringent but more lenient than if I applied personally.  My credit scores are currently in the upper 600's due to a higher debt to income ratio, which I am working on paying down but estime it will take about 15 months.

Anyhow, the big issue I am worried about is this......I am quite embarrassed, but 15 years ago when I was in college, I ran up a 7k balance with AMEX and it was charged off.  I understand AMEX blacklists for life and that this will bar me from getting the AMEX corp card.  I would be happy to make good on it now, but could only afford to pay about $500 a month.  My big questions are:

~ Will AMEX offer me a payment plan (is this part of the Oasis program?), put me in the good, and allow a corp card to be issued while I am still paying it off or will the balance have to be PIF before I am allowed a corp card?

~ Do I just call the Oasis program number to ask?

~ Will this put the bad account back on my credit report?

Anyone have any experience with this?  Not sure if this matters, but I am an AU on my husband's AMEX Delta card in good standing.  Anyhow, definitely a good lesson for kids that what you do financially when you are young and foolish can really bite you in the butt later in life!

Thanks again for any help!

Message Edited by Dicey on 04-25-2009 02:03 AM

[Watchmann]

Although AMEX requires your SSN for the Corporate Card application the account information does not show up on your CR as the Company is responsible for it.  I do not believe any inquiry showed up on my file when I last got a Corporate Card 3 years ago, but I can't be certain.  I would push back on your company if they insist that AMEX will pull your CR for a card.  Let them step up to the plate if they want you to use the AMEX card for business.  If they insist I'd refuse and tell them you will use your own personal card.  I would not air dirty laundry about your past with your company, it is none of their business.  I would not reopen this matter with AMEX just so you can get a corporate card for your employer's convenience.

[ocheosa]

I second Watchmanns response.

When I received my corp card in 2007 the company asked for my SSN on the applic, there was no pull on my credit reports in that time frame. I thought it may have been because I had two personal cards at the time of request, but there was not even a soft pull. I think the request for your SSN is more to protect the company (in case their are personal charges not covered by your company).

I have seen a few issues pop up for employees in my dept, but it was more over an existing card that had negative history or another corp card from previous employer not yet closed out.

Since your history was over 15yrs ago I can't imagine you will have any problem. If something ugly was going to pop up it would have done so when you were added to your husbands account. BTW, amex does pull a cr (soft pull) for AU requests.

My opinion: don't worry, go ahead and turn in your application.

[MattH]

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@Watchmann wrote:
Although AMEX requires your SSN for the Corporate Card application the account information does not show up on your CR as the Company is responsible for it.  I do not believe any inquiry showed up on my file when I last got a Corporate Card 3 years ago, but I can't be certain.  I would push back on your company if they insist that AMEX will pull your CR for a card.  Let them step up to the plate if they want you to use the AMEX card for business.  If they insist I'd refuse and tell them you will use your own personal card.  I would not air dirty laundry about your past with your company, it is none of their business.  I would not reopen this matter with AMEX just so you can get a corporate card for your employer's convenience.

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Depending on the employer, doing without the AMEX Corporate Card may not be an option.  At my company our expense account system is directly integrated with American Express so there are both technical and contractual reasons there does not exist a good mechanism for doing without the AMEX Corporate Card.  Fortunately for me I have a positive history with AMEX, but OP may well be in a serious pickle.

[Anonymous]

Thanks so much everyone for the responses!  I was previously using a personal CC for travel and actually really enjoyed the rewards, but my company decided they wanted to reap the benefits of the corporate rebates AMEX offers, so it really isn't an option any more.  They did say that the company could overwrite most decisions from AMEX but I am really hoping to avoid the embarrassment as it would require my region's VP to sign off on it.  I have been with this company for 10 years, have a great reputation, and hate to have a black mark thrown in now, but you gotta do what you gotta do.  I was just trying to prepare myself for the situation as best as possible.  Thanks again everyone for the help!

[MattH]

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@Anonymous wrote:
Thanks so much everyone for the responses!  I was previously using a personal CC for travel and actually really enjoyed the rewards, but my company decided they wanted to reap the benefits of the corporate rebates AMEX offers, so it really isn't an option any more.  They did say that the company could overwrite most decisions from AMEX but I am really hoping to avoid the embarrassment as it would require my region's VP to sign off on it.  I have been with this company for 10 years, have a great reputation, and hate to have a black mark thrown in now, but you gotta do what you gotta do.  I was just trying to prepare myself for the situation as best as possible.  Thanks again everyone for the help!

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Good luck, you should be OK given your history but the universal rule in situations of this nature is your company had better learn all negative information directly from you before they learn it from any other source.

[ocheosa]

Hello Dicey,

Not to worry, it is all strictly confidential. The only persons who would know about it anyway would be the head of your dept and Finance Administrator. These matters are private and highly confidential.

I don't think you have anything to worry about. As this card is like an AU on the company account. The finance plan administrator has authority over the corporate account. At my office the only cards that were linked directly to the employees (SVP and above) were the Platinum AMEX's. Even then, it did not show up on their personal credit reports, but they had the authority to use the cards at their own discretion.

Good luck!

[Anonymous]

I agree completely MattH, I would much rather have them learn about this from me as well where at least I could explain myself some.  My boss and I have a good relationship, but of course, no one wants to discuss a situation like this unless absolutely necessary.

I had originally posted here to see if I should try the Oasis route first; I have a couple of months before they force us all to transition over.  I also know I made the debt, owe the money, and need to make good on it either way but I'm not in a financial position to do that currently, and before I need the corporate card.  Again, I really appreciate the feedback!

I just recently found these forums and have been devouring the information on here.  The information and activity on here is fabulous and so valuable.  I'll certainly let you know how this situation resolves itself.  Thanks!

[Anonymous]

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@ocheosa wrote:

Hello Dicey,

Not to worry, it is all strictly confidential. The only persons who would know about it anyway would be the head of your dept and Finance Administrator. These matters are private and highly confidential.

I don't think you have anything to worry about. As this card is like an AU on the company account. The finance plan administrator has authority over the corporate account. At my office the only cards that were linked directly to the employees (SVP and above) were the Platinum AMEX's. Even then, it did not show up on their personal credit reports, but they had the authority to use the cards at their own discretion.

Good luck!

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Thanks so much ocheosa!  That really does make me feel better

Message Edited by Dicey on 04-25-2009 05:52 PM