Do I bother trying for a corporate Amex?

Anonymous · ‎09-08-2015

I'll try to make this brief but here we go. I recently took a new position with the company where I've worked for the past 8 years. My company is a major partner with Amex and we earn a great deal of revenue through our partnership with Amex and I now have the option to get a corporate card. I discharged an Amex in 2009 through bk and am wondering if I should even try for the card or just use my personal card for expenses? Also if for some reason I app for the card and am denied is there any risk of running into problems with my employer? I was also wondering if applying for a corporate Amex is a HP on my credit report and if it is improved any chance it would he get a personal card after a while? Thanks for the help!

CH-7-Mission-Accomplished · ‎09-08-2015

I have heard of lots of other people getting corporate Amex cards after BK-ing AMEX because the emplyer guarantees payment. The problem may lie in how comfortable you are explaining to your employer why you can't get the card. That's your call.

I would frankly call AMEX and ask to speak with someone in the business card membership area. I would just lay your cards on the table and ask them what they would do.

Open123 · ‎09-08-2015

You may be initially declined, but I suspect your company can contact Amex and have you approved.

However, the conundrum is whether or not you're comfortable to share this with your Employers. All things being equal, this shouldn't affect your employment, but all things are never equal. It depends on how your Employers view this, which is assuredly always subjective. I've seen many in upper management who have felt Employees with "credit issues" are somehow less responsible or have less integrity.

If it were me, I'd avoid it, if I can. You never know if someone takes something from our past and suddenly views us in a different light.

UncleB · ‎09-08-2015

I filed for BK7 in early 2000 with Amex included in the bankruptcy, less than six months later I was told by my employer (Fortune 500 company) that I needed to get a Corporate Card... I was sure there would be problems.

A few weeks later, I got my new card in the mail. There was never an inquiry on my personal credit files.

I don't know for certain, but I had/have a feeling that the size of the company has something to do with it. While the company is responsible for all purchases, if an employee were to go 'rogue' and make a ton of personal purchases, they do have the ability to do a 'liability shift' and put the onus back on the employee, although I'm not sure how often this is done in practice.

As a side-note, on the company web site there was specific information for all Corp. cardholders who were filing bankruptcy (folks who already had a Corp card, not trying to get one). The instructions stated that under no circumstances should a Corporate card be included in a personal BK, and if an employee were to erroneously do so, it was likely they would have great difficulty reinstating their Corporate card, if they were able to do so at all. This actually makes sense, since the account belongs to the company (not the individual), but I can see how some folks would included it "just to be safe" since the attorneys tend to stress everything must be included.

Edit: typo

Anonymous · ‎09-08-2015

Thank you all for the advice! I've been with the company long enough to hope my work performance should out weigh the results of an application. Uncle B I noticed several Amex cards in your signature, can I ask how long it took you to get a personal card after BK? Also did you repay them the discharged amount? I've been debating on repaying them to try and get back in with them.

UncleB · ‎09-08-2015

@Anonymous wrote:
Thank you all for the advice! I've been with the company long enough to hope my work performance should out weigh the results of an application. Uncle B I noticed several Amex cards in your signature, can I ask how long it took you to get a personal card after BK? Also did you repay them the discharged amount? I've been debating on repaying them to try and get back in with them.

I filed for BK7 (and included an Amex card) back in 2000, got approved for my Green and BCP just this past April (2015). The amount was over $8k, and I never paid it back (it was very unfortunate Amex was included at all, but as you know, by law you're not allowed to discriminate between creditors). I honestly didn't think there was any way they would approve me, and I expected to just get a free copy of my credit score (LOL). You could have knocked me over with a feather when after a few seconds, the screen refreshed and it said, "Approved".

Then I remembered reading on here you can get a credit and charge with one HP, so I said, "what the heck" and I apped for the BCP... again, "Approved". The BCP only gave me a $1k credit line, and after the promo the APR will be the highest they offer at 21.9%, but they approved me. For what it's worth, I've tried twice for a CLI, and was denied both times. The first time was "Due to previous negative experience with American Express" so they definitely didn't forget (the second time I never got a letter (?), but there was at least a SP on Experian the second time, so maybe I got closer). I still have two 'baddies' on my current report that will be removed next summer, so possibly Amex will be confident enough in me by then to consider me for a modest CLI. <fingers crossed>

My cards were sent with a "Member Since" date of 2015, but a few days after my approval the login screen changed and started greeting me as "Member since 1995". (I missed the backdating by three weeks; no complaints, though - I never expected to be "back in" at all...). I've read on here that if I were to call them they'll send replacement cards with the "correct" member since date of 1995, but these days nobody sees your card other than drive-thru cashiers, and I doubt they'd be impressed anyway.

All this being said, if it were me and my employer wanted me to get a Corporate card, I would fill out the paperwork to get one. I really don't think you'll have any problems, especially if your company is medium to large size. Of course I can't make any promises (as with most things credit YMMV) but I have a good feeling.

Note: Although I waited 15 years to reapply, I don't know if I actually had to, as I had assumed the entire time that I was 'blacklisted' for life. It's possible I could have got back in sooner than I did.

Anonymous · ‎09-09-2015

I've read on here that if I were to call them they'll send replacement cards with the "correct" member since date of 1995

They will, indeed, send cards with the original date. I did with both of mine. I just love seeing "Member since 80" on my cards.

Note: Although I waited 15 years to reapply, I don't know if I actually had to, as I had assumed the entire time that I was 'blacklisted' for life. It's possible I could have got back in sooner than I did.

Same with me, only it was 33 years. Until I found this forum, I assumed I was banned for life.

Anonymous · ‎09-09-2015

@Open123 wrote:
I've seen many in upper management who have felt Employees with "credit issues" are somehow less responsible or have less integrity.

This comment is odd. "Credit issues" almost always means the above.

At a minimum, it means that person is much more likely to default then people without credit issues. Being denied credit should be taken personally, because it is a direct reflection of how responsible you are......and your track record with credit/money.

Now there is always exceptions to the rule for certain situations. But look at it from a lenders perspective, who would you rather lend money to?

peaceonearth · ‎09-09-2015

@Anonymous wrote:
I'll try to make this brief but here we go. I recently took a new position with the company where I've worked for the past 8 years. My company is a major partner with Amex and we earn a great deal of revenue through our partnership with Amex and I now have the option to get a corporate card. I discharged an Amex in 2009 through bk and am wondering if I should even try for the card or just use my personal card for expenses? Also if for some reason I app for the card and am denied is there any risk of running into problems with my employer? I was also wondering if applying for a corporate Amex is a HP on my credit report and if it is improved any chance it would he get a personal card after a while? Thanks for the help!

Is this an American Express Business or Corporate?

If it's a Business yes, you may have problems.

If it's a Corporate card, you will get the card no matter how bad your credit file and past history with AMEX.

The AMEX Corporate is 100% approved based on your company's credit profile and Revenue (minimum revenue $4,000.000.00).

If it is a Corporate you will not be the applicant in lieu, your Company is the applicant therefore; the company needs to apply for the card not you and of course your Company may chose to get you a card under your name.

Anonymous · ‎09-09-2015

UncleB: Thanks for sharing your experiences! It gives me hope that maybe one day I'll get bank in.

peaceonearth: It's a corporate card and we have a lot of corporate cards within my company. Anyone who travels at least once per year is eligible for a corporate card, My company is one of the largest partners with Amex and they give us a lot revenue for our partnership so hopefully that will help.