topic Re: Job may depend on credit, any advice? in Rebuilding Your Credit

Job may depend on credit, any advice?

Jumpstart — Sun, 15 Nov 2015 17:46:19 GMT

Hi all,

I am going for a promotion interview soon. I'm pretty well positioned for it but my one concern is that it uses a corporate card fairly heavily. A card I'm sure I won't be approved for since my credit score is terrible. I was wondering if there was any advice to jump a credit score enought to be approved for a Citi corporate card. THe only thing I can think of is to pay down all my balances which I'm in the process off. I probably have 3-4 months to get my score up from low 500s to whatever Citi requres.

Re: Job may depend on credit, any advice?

RobertEG — Sun, 15 Nov 2015 20:06:50 GMT

I presume that you have numerous major payment history derogs?

Re: Job may depend on credit, any advice?

Jumpstart — Mon, 16 Nov 2015 01:42:21 GMT

Yes. Not a whole lot, but two recent things took the score down quite a bit. I had an auto repo a few months ago. I got the car back and am current but it still shows as a repo. I also had a store credit card cancel on me since I hardly ever used it. I'm not sure if calling them to reinstate it would do any good since I had better credit when I got the card.

Re: Job may depend on credit, any advice?

Anonymous — Mon, 16 Nov 2015 02:02:30 GMT

Corp card shouldn't ask for ur credit if they add u as an AU. Most time they don't care about AU credit cuz it's the main holder liable for all the charges. Thought u meant they won't promote u cuz of ur credit cuz some job does look at credit too

Re: Job may depend on credit, any advice?

Anonymous — Mon, 16 Nov 2015 03:00:18 GMT

@Jumpstart wrote:
Hi all,

I am going for a promotion interview soon. I'm pretty well positioned for it but my one concern is that it uses a corporate card fairly heavily. A card I'm sure I won't be approved for since my credit score is terrible. I was wondering if there was any advice to jump a credit score enought to be approved for a Citi corporate card. THe only thing I can think of is to pay down all my balances which I'm in the process off. I probably have 3-4 months to get my score up from low 500s to whatever Citi requres.

I had the exact same concerns, except my company used a Chase corporate card, and it was for initial employment instead of a promotion. But really, except for all of those things, it was EXACTLY like it. Sorry, a little sarcasm as I was reading it back.

My credit was in the dumpster as in high 480s and I was conditionally approved for the job with LOXs and a written plan to improve.

When I signed the papers from HR, I actually checked the box for 'decline corporate card' because I didnt want to draw more attention to my low credit. The HR department tracked me down and explained they dont check my credit for the card, I just have to sign that I will repay any amount I charge even if my expense voucher was not approved. They did send me the CC and I used it for travel expenses.

The corporation had a signed agreement with Chase that all employees would receive a CC and the employee would repay Chase, however, if the employee defaulted, the corporation would repay Chase. Chase also did not report good payment's to my CRs so there was no positive effect from using it either. I did hear that a couple people had been notified by the corporation that Chase had reported their payments late. I also knew of two people locally that had been let go because they had reasoned that as long as they repaid the amounts to Chase, they could use the CC as a personal card, which was specifically listed as not approved during the hire process.

I have read that some corporations do not guaranty payment to the CCC if the employee defaults. Maybe you could ask the HR department what their agreement is so you can tell if it's a major issue for you or not? Maybe ask if the employee is solely liable or does the company indemnify Citi? That way, you dont have to mention 'low credit' directly.

ETA: always a good idea to bring up your CR scores, didnt mean to suggest check if they indemnify Citi and if so, leave it alone.

Re: Job may depend on credit, any advice?

Jumpstart — Mon, 16 Nov 2015 03:56:10 GMT

Thanks for all the replies! I thought it wouldn't matter either since I assumed it would be an AU situation. But I have heard some people had trouble getting the card. Wish I was close enough to them to find out what they ended up going.

Re: Job may depend on credit, any advice?

Anonymous — Mon, 16 Nov 2015 04:28:04 GMT

@Jumpstart wrote:
Yes. Not a whole lot, but two recent things took the score down quite a bit. I had an autorepo a few months ago. I got the car back and am current but it still shows as arepo. I also had a store credit card cancel on me since I hardly ever used it. I'm not sure if calling them to reinstate it would do any good since I had better credit when I got the card.

I recommend you keep the records and receipts showing you are now current and still retain the car. If someone says 'auto repo' you can say 'paid current' showing it was a one time event. You'll be prepared if you need to write a LOX for it.

I had an auto repo in 2009 and I repaid Honda Financial about 2.5 times what was owed. I keep that receipt and paid letter in my computer and also on paper, 'just in case'. I am looking for a better job and as soon as I get two paychecks from it, I'll be buying a better car and making an app for a loan.

hth

Re: Job may depend on credit, any advice?

Jumpstart — Fri, 27 Nov 2015 18:06:21 GMT

I wonder if there is a way to get the repossession off my credit report if I paid the loan company what they were owed and I have the car back and am current. Just checked on Credit Karma and it said my auto loan was in repossession and closed. But it is still open!

Re: Job may depend on credit, any advice?

ojefferyo — Fri, 27 Nov 2015 18:38:52 GMT

Its a pretty high probability that the repo will not be removed since it is/was accurate. Maybe a goodwill letter to the company and if they are feeling in the holiday mood may remove it for you.

Re: Job may depend on credit, any advice?

Anonymous — Sat, 28 Nov 2015 02:07:14 GMT

I dont know much about business cards, but you could try adding yourself as an AU on another persons card and it might at least bring your score up a bit and would at least appear a bit better.

Re: Job may depend on credit, any advice?

Anonymous — Sat, 28 Nov 2015 04:32:03 GMT

@Jumpstart wrote:
Thanks for all the replies! I thought it wouldn't matter either since I assumed it would be an AU situation. But I have heard some people had trouble getting the card. Wish I was close enough to them to find out what they ended up going.

I work for a Fortune 500 company and travel heavily over 50% at times. I was worried about getting the company card when I took the position as well. We use the Citibank Mastercard. My personal credit history did not come into play at all. I was added as an authorized user on the company account and the travel department determined my limit based on my position. This was all handled by an internal person at the company. If you're really worried I would suggest talking to your company's credit card administrator and just ask her what the process is. Let the administrator know you have some concerns about people having access to your personal information, SS# etc and just go from there.

Re: Job may depend on credit, any advice?

CYBERSAM — Sat, 28 Nov 2015 08:04:07 GMT

You should be added as AU, companies are not going to let you open business CC under your own name
I have company CC AMEX 50K and CapOne 20K both as AU and they don't show under my CR.

Now if they give you a bigger promotion and decide to, lets say throw in a lease car for your use, then its usually has to go under your name and your company would pay for it.

good luck!

Re: Job may depend on credit, any advice?

Anonymous — Sat, 28 Nov 2015 15:48:28 GMT

@Jumpstart wrote:
Yes. Not a whole lot, but two recent things took the score down quite a bit. I had an auto repo a few months ago. I got the car back and am current but it still shows as a repo. I also had a store credit card cancel on me since I hardly ever used it. I'm not sure if calling them to reinstate it would do any good since I had better credit when I got the card.

You might consider adding a "remark" to that credit entry on your CRs, noting that you paid the arrears and were able to get the car back.

Re: Job may depend on credit, any advice?

Anonymous — Sun, 29 Nov 2015 22:13:03 GMT

@Jumpstart wrote:
Yes. Not a whole lot, but two recent things took the score down quite a bit. I had an auto repo a few months ago. I got the car back and am current but it still shows as a repo. I also had a store credit card cancel on me since I hardly ever used it. I'm not sure if calling them to reinstate it would do any good since I had better credit when I got the card.

Personally I wouldn't bother with reinstating a store card. (Others' mileage may vary, of course.)

Re: Job may depend on credit, any advice?

Jumpstart — Mon, 30 Nov 2015 02:08:05 GMT

Thanks for the replies, everyone. I think I will just call up and talk to the person who andles CC administration and see what their policy is. Also, putting a remark on the credit report is probably a good idea. That is after sending a goodwill letter to test CapOne's holiday spirit

@Anonymous wrote:
@Jumpstart wrote:
Yes. Not a whole lot, but two recent things took the score down quite a bit. I had an auto repo a few months ago. I got the car back and am current but it still shows as a repo. I also had a store credit card cancel on me since I hardly ever used it. I'm not sure if calling them to reinstate it would do any good since I had better credit when I got the card.
Personally I wouldn't bother with reinstating a store card. (Others' mileage may vary, of course.)

Re: Job may depend on credit, any advice?

Anonymous — Sun, 06 Dec 2015 21:45:30 GMT

@Jumpstart wrote:
Thanks for the replies, everyone. I think I will just call up and talk to the person who andles CC administration and see what their policy is. Also, putting a remark on the credit report is probably a good idea. That is after sending a goodwill letter to test CapOne's holiday spirit
@Anonymous wrote:
@Jumpstart wrote:
Yes. Not a whole lot, but two recent things took the score down quite a bit. I had an auto repo a few months ago. I got the car back and am current but it still shows as a repo. I also had a store credit card cancel on me since I hardly ever used it. I'm not sure if calling them to reinstate it would do any good since I had better credit when I got the card.
Personally I wouldn't bother with reinstating a store card. (Others' mileage may vary, of course.)

What was the outcome?