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Corp. Credit Card

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caf51482
New Visitor

Corp. Credit Card

I have a corp. crddit card in my name and a personal, cash back card. Both are paoid off each month and business expenses are reimbursed. Are there any cons to me using the personal card for business expenses?

Message 1 of 9
8 REPLIES 8
azguy13
Senior Contributor

Re: Corp. Credit Card


@caf51482 wrote:

I have a corp. crddit card in my name and a personal, cash back card. Both are paoid off each month and business expenses are reimbursed. Are there any cons to me using the personal card for business expenses?


I have this same situation with the Citi Corporate card. I do not like using the corporate card because after I file my expense report, I get reimbured pretty quick. I would rather use my personal card and gain the points. Basically, it is free points since my company will pay for the purchases. 

Message 2 of 9
TimeToRecover
Established Contributor

Re: Corp. Credit Card

this is a decision of your company. 

 

At my company there are specific items that MUST be done on the corp card.  flights, hotels.   They prefer you to use it for anyplace that accepts amex because when you import the expenses they will just pay amex directly.  You can use a personal card for locations that do not accept the corp card. 

 

So this is a question for your company to answer on their policy of expensing and cc use.


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Message 3 of 9
azguy13
Senior Contributor

Re: Corp. Credit Card


@TimeToRecover wrote:

this is a decision of your company. 

 

At my company there are specific items that MUST be done on the corp card.  flights, hotels.   They prefer you to use it for anyplace that accepts amex because when you import the expenses they will just pay amex directly.  You can use a personal card for locations that do not accept the corp card. 

 

So this is a question for your company to answer on their policy of expensing and cc use.


My compnay is very lax when it comes to the issue. There is a "Ghost Card" that the travel department uses to py for all our flights. We can use whichever card we want as long as we provide receipts. Basically, all meals, hotels, and any other business type expense can be charged on a personal card, minus flights. 

Message 4 of 9
Anonymous
Not applicable

Re: Corp. Credit Card

Your risk in using a persoanl card would revolve around not getting a fast reimbursement. Would you be able to cover the expenses on a short term basis. Also, if the company sold, merged and the like would you get caught and not recover expenses. Short of all this or a company policy against it, why shouldn't you score the points?!

Message 5 of 9
azguy13
Senior Contributor

Re: Corp. Credit Card


@Anonymous wrote:

Your risk in using a persoanl card would revolve around not getting a fast reimbursement. Would you be able to cover the expenses on a short term basis. Also, if the company sold, merged and the like would you get caught and not recover expenses. Short of all this or a company policy against it, why shouldn't you score the points?!


My point exactly. With my situation, I get all my expense reports paid within about a week of when I file it. With most of the people who hold corporate cards, if their company were to be sold or merged, the employees would know well in advance. Then again, I am basing that on a company of my size. 

Message 6 of 9
caf51482
New Visitor

Re: Corp. Credit Card

As long as both accounts are regularly paid off, does using one or the other affect your credit score?

Message 7 of 9
Anonymous
Not applicable

Re: Corp. Credit Card

Good solid use of personal cards makes the card issurer happy because of swipe fees. If a balance is revolved there is alway the opportunity for the card issuer to earn interest. That said carrying a balance can effect your credit score to the positive or negative. In reading posts from others and my own experience usually higher scores come from a utilization under 10% and FAKO Scores have told me to only carry balances in mortgages, installment loans, bank cards and store cards. I actually got rapped for having five accounts in play at one time. So, believe what you will. My best FICO Scores come with a 1.5% utilization rate along with account activity in the four basic FICO Scoring areas. Others on this site with different credit profiles have obtained other results. Note, FAKO Scores do not always reflect FICO Score activities. How did I learn 1.5% utilization was my optimum score based on today's credit profile? I actually PIF'd differrent accounts at different times taking into account when the statement closing date was and pulled credit reports to obtain the results over one year. It was an expensive undertaking (credit report costs) but I wanted my bottom line. Truth, credit scoring is based on logical models in its makeup and beyond comprehension in results. Every credit provider has their own adaptation and risk scoring model so you roll the dice and look at the averages.

Message 8 of 9
takeshi74
Senior Contributor

Re: Corp. Credit Card


@caf51482 wrote:

Are there any cons to me using the personal card for business expenses?


The impact on utilization but you can probably estimate that to see if it's worth worrying over and impact is mitigated when you're reimbursed anyway.

Message 9 of 9
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