Advice/ guidance on employer corp card needed please

[NRB525]

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@Anonymous wrote:

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@boosnark wrote:

There should not be a hard pull for a card issued by your employer, and guaranteed by the employer. Neither would it be reported to the credit reporting agencies in your name. Your employer may have guidelines as to when to apply for expense reimbursement (e.g. 30 or 60 days) but the onus would be on them to clear the payment directly with JP Morgan Chase after approving your expenses and receipts. At least, that is how it should work. But bear in mind some companies do issue cards which they consider "Corporate" cards, but still require the employee to clear the bill directly out of pocket and THEN apply for reimbursement. Avoid like the  plague and use your own cards where you can at least get cash back or rewards.

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This card has the option when filing for travel reimbursements "pay to corp card" and then the money goes straight to that and not through me first, otherwise I would avoid.

Additionally, I called JPMC through the contact number listed on my employer's intranet. Asked about the application process. Representative explained that there may be a soft pull. I am not clear on what exactly can be seen on a soft pull from them, but I am thinking this may be a way to see if I meet certain requirements? I am nervous if JPMC pulls EX, as it is my lowest score (610). To add to the mix, my score is suffering because of one older collection, newer age of accounts, but most of all, I have a high utilization- because of work travel right now (as my personal cards that I use sometime for travel have small limits on them, so if I use them they get high fast)! Arrgghhhhhh

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The SP is probably just to ensure you are a real person, and the information on your app is legit. The score should make no difference, as outlined by others.

[KatieKatie]

Hi, I completely understand what you're experiencing.  I've been there.  For the last 14 years I had to have a corporate credit card with each of my employers.  For 10 of those years my credit was hideous.  Here's my experience with each issuer:

American Express:  Denied - The corporation I worked for at the time had about 15,000 employees, so this was no small organization.  I had to use my own personal (secured card) at the time for travel and I was reimbursed.  Ironically this would be a great option now if I could rack up all the points without the stigma now that I have great cards and decent limits.

US Bank: Approved with two different employers.  The first with about 12,000 employees and the second with about 8,000.  The interesting thing about them is that in both cases common travel related expenses, like airfare, hotels, restaraunts (if they were coded properly when they ran the charge) were virtually unlimited, however I had a separate internal limit of $2500 (first go round and $3000 second go round) for any non-travel related expenses, such as buying office supplies.

JPMorgan Chase: Approved.  The corporate limit was $10k.  Company was huge. 

[Anonymous]

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@KatieKatie wrote:

Hi, I completely understand what you're experiencing.  I've been there.  For the last 14 years I had to have a corporate credit card with each of my employers.  For 10 of those years my credit was hideous.  Here's my experience with each issuer:

American Express:  Denied - The corporation I worked for at the time had about 15,000 employees, so this was no small organization.  I had to use my own personal (secured card) at the time for travel and I was reimbursed.  Ironically this would be a great option now if I could rack up all the points without the stigma now that I have great cards and decent limits.

US Bank: Approved with two different employers.  The first with about 12,000 employees and the second with about 8,000.  The interesting thing about them is that in both cases common travel related expenses, like airfare, hotels, restaraunts (if they were coded properly when they ran the charge) were virtually unlimited, however I had a separate internal limit of $2500 (first go round and $3000 second go round) for any non-travel related expenses, such as buying office supplies.

JPMorgan Chase: Approved.  The corporate limit was $10k.  Company was huge. 

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Thanks so much for your post. I know when I get through this phase, I will wonder what I was so nervous about, but it's hard and embarrassing at times. My employer is about 5000 employees (academic institution). Travel used to reimburse pretty quick when I was first hired, but there has been more and more red tape, so it is a pain when I am waiting to get reimbursed. Most of the time, I am using my check card/ cash because the limits on my other cards are either too low, or completely maxed out from putting one hotel charge on it. It's hard when I'm expected to travel, I don’t want to refuse because it's necessary for my growth, work, etc., but I don’t have the cards/ flexibility that it seems like EVERYONE ELSE has.

To add to all of this, there is hardly anyone that has a travel card at my department. Although the institution offers this, it is viewed as some “big deal” that I am requesting. Most of the other people I work with have a much higher income category than I, so they just use their personal cards, or just travel for professional reasons and never even apply for reimbursement. So, this has led to all kinds of attention to me wanting to pursue this avenue. I have to get 5 approvals to even get to the point where I can turn the authorization in to travel department and JPMC. So, my ultimate fear is that after all this hassle and pushing, I will get the form into them and then it will come back DENIED, and probably someone will find out because of all the crap it’s caused. When starting the process, I didn’t think it would be that big of a deal, and then when it started being a big deal, it was too far to turn back.

Sorry for the rant, I’m just nervous over it and I am supposed to get my last 3 approvals any day now and turn in my authorization this week.

[merlinflex]

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@Anonymous wrote:

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@KatieKatie wrote:

Hi, I completely understand what you're experiencing.  I've been there.  For the last 14 years I had to have a corporate credit card with each of my employers.  For 10 of those years my credit was hideous.  Here's my experience with each issuer:

American Express:  Denied - The corporation I worked for at the time had about 15,000 employees, so this was no small organization.  I had to use my own personal (secured card) at the time for travel and I was reimbursed.  Ironically this would be a great option now if I could rack up all the points without the stigma now that I have great cards and decent limits.

US Bank: Approved with two different employers.  The first with about 12,000 employees and the second with about 8,000.  The interesting thing about them is that in both cases common travel related expenses, like airfare, hotels, restaraunts (if they were coded properly when they ran the charge) were virtually unlimited, however I had a separate internal limit of $2500 (first go round and $3000 second go round) for any non-travel related expenses, such as buying office supplies.

JPMorgan Chase: Approved.  The corporate limit was $10k.  Company was huge. 

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Thanks so much for your post. I know when I get through this phase, I will wonder what I was so nervous about, but it's hard and embarrassing at times. My employer is about 5000 employees (academic institution). Travel used to reimburse pretty quick when I was first hired, but there has been more and more red tape, so it is a pain when I am waiting to get reimbursed. Most of the time, I am using my check card/ cash because the limits on my other cards are either too low, or completely maxed out from putting one hotel charge on it. It's hard when I'm expected to travel, I don’t want to refuse because it's necessary for my growth, work, etc., but I don’t have the cards/ flexibility that it seems like EVERYONE ELSE has.

To add to all of this, there is hardly anyone that has a travel card at my department. Although the institution offers this, it is viewed as some “big deal” that I am requesting. Most of the other people I work with have a much higher income category than I, so they just use their personal cards, or just travel for professional reasons and never even apply for reimbursement. So, this has led to all kinds of attention to me wanting to pursue this avenue. I have to get 5 approvals to even get to the point where I can turn the authorization in to travel department and JPMC. So, my ultimate fear is that after all this hassle and pushing, I will get the form into them and then it will come back DENIED, and probably someone will find out because of all the crap it’s caused. When starting the process, I didn’t think it would be that big of a deal, and then when it started being a big deal, it was too far to turn back.

Sorry for the rant, I’m just nervous over it and I am supposed to get my last 3 approvals any day now and turn in my authorization this week.

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I think you are stressing yourself too much. I work for a large company, over 400K employees around the globe.  Here in the US, I know co-workers with credit scores in the low 600's and who have degros and such and they got the Amex Corp no problem at all.  Just go apply for the darn thing and be done with it.  You will know in a min or so whether you get it or not.  They send you to special link to apply or have you fill out some form and submit, so just suck it an do it.

[Anonymous]

I am so thankful that I found this thread. I am in the very same position. Huge company, JP Morgan Chase corp card. Just two months into the job and being told getting a corp card is a must. I need to request online asap but petrified it could cost me my job if denied. I have an open late/unpaid mortgage and am in the credit industry. Please report back and let us know what happens. I considered calling the Chase phone number on our website and asking them but am even scared to do that and can't ask internally because of my industry it would be a major red flag. My credit score is around 685 (ish) so not bad but it shows multiple negatives and like I said one that is still negative and I can't fix yet. Does anyone know what info is shared via a soft pull vs. a hard pull? Is it only credit score?

[merlinflex]

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@Anonymous wrote:

I am so thankful that I found this thread. I am in the very same position. Huge company, JP Morgan Chase corp card. Just two months into the job and being told getting a corp card is a must. I need to request online asap but petrified it could cost me my job if denied. I have an open late/unpaid mortgage and am in the credit industry. Please report back and let us know what happens. I considered calling the Chase phone number on our website and asking them but am even scared to do that and can't ask internally because of my industry it would be a major red flag. My credit score is around 685 (ish) so not bad but it shows multiple negatives and like I said one that is still negative and I can't fix yet. Does anyone know what info is shared via a soft pull vs. a hard pull? Is it only credit score?

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It will be a HP to get the card, not a SP

http://www.nerdwallet.com/blog/tips/credit-score/credit-report-soft-hard-pull-difference/

[Anonymous]

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@Anonymous wrote:

I am so thankful that I found this thread. I am in the very same position. Huge company, JP Morgan Chase corp card. Just two months into the job and being told getting a corp card is a must. I need to request online asap but petrified it could cost me my job if denied. I have an open late/unpaid mortgage and am in the credit industry. Please report back and let us know what happens. I considered calling the Chase phone number on our website and asking them but am even scared to do that and can't ask internally because of my industry it would be a major red flag. My credit score is around 685 (ish) so not bad but it shows multiple negatives and like I said one that is still negative and I can't fix yet. Does anyone know what info is shared via a soft pull vs. a hard pull? Is it only credit score?

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Hi there, OP here. I have called and spoke with JP Morgan Chase, and the representative told me that it is a "promotional inquiry" that will not affect my credit score, so I am thinking soft pull. Similar to the limited information that the people in my employer's travel department told me. I haven't been able to turn in my forms to JPMC yet, as I have to go through 5 approvals in order to proceed and I am hung up on one. One of the department heads doesn't want to authorize more travel cards because I guess some irresponsible people haven't managed thiers well. When and if I can get to the point of turning mine in to JPMC I will update. My scores are below yours (especially EX), so I am very curious about what will happen (if I can even cut through the red tape to get there). 

[Anonymous]

Thanks Pragmata- Like you I have several internal approvals to await once I submit the request but in my case the card is required based on my position.

From what I have gathered based on limited research JP will see the very same info/detail on a soft pull as they would in a hard pull. I was hoping that all they would see is the 'score'. If I'm wrong I hope someone will chime in.

Having a few old negatives that have been cleared up doesn't bug me since it's explainable and likely wouldn't get me denied, it's having a current open unpaid late that concerns me.

[merlinflex]

Updates? Curious to hear the latest!

[Anonymous]

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@merlinflex wrote:

Updates? Curious to hear the latest!

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For me- I am still in an unexpected holding pattern. I never thought that pursuing this card would cause so much controversy. The process for me is at a stalemate, department head doesn't want additional staff to have travel cards, division head says it's OK. I have an international trip pending that I need to book within about a month. Will be interesting when mangement notices I haven't booked, so maybe that will get things moving again. I am not going to book an international trip when current reimbursement to personal accounts is averaging 8 weeks.