My name on an office CC shouldn't I be getting "credit" for this?

[Anonymous]

Hello all.

My name is on my office Master Card through a local bank along with the doctor's name that I work for.  A couple of years ago when my name was put on it, I had to sign some papers and give them my SS#. 

My question is this...this thing is paid like clockwork, in full every month and has about a $3000 limit.  I use it for everything at work.  Should I not be getting credit for this on my reports?  As I understand it, I am just as responsible for this account as the doctor is.

I appreciate any and all input.

Thanks!

[bicknar]

Hi MW,

Just from my own personal experience... Business cards are a whole nother animal.  I have one, that I use for consulting expenses for myself...  It reports.  I worked for a company that I had a company card with.... Never saw a thing.  Stupid expense reports for accounts payable to keep it up to date, but it would have been great if that showed up, but alas.

A

[Anonymous]

Business accounts do not always report on personal credit reports, which to many people is regarded as an advantage as reported balances do not affect their utilization and personal Fico scores.

However, if a business account goes delinquent, it is not unusual for it to start being reported on the guarantor's personal credit report ...

[MattH]

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@Anonymous wrote:

Hello all.

My name is on my office Master Card through a local bank along with the doctor's name that I work for.  A couple of years ago when my name was put on it, I had to sign some papers and give them my SS#. 

My question is this...this thing is paid like clockwork, in full every month and has about a $3000 limit.  I use it for everything at work.  Should I not be getting credit for this on my reports?  As I understand it, I am just as responsible for this account as the doctor is.

I appreciate any and all input.

Thanks!

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Corporate Cards from employers usually do not appear on your credit history.  In my wallet, for example, are two American Express cards: a personal Gold Card that I've had for over 20 years does report, while a Corporate Card that I've through my employers for 12 years has never reported.

I believe the logic is that whether or not you send them a check (my Corporate Card is paid by my employers through electronic funds transfer after I submit my expense reports), one way or another the bills on a card you get for your work are being paid by your employers and not by you.

[Anonymous]

Hey thanks for the input.  I sure wish I could get some "credit" for it.  Right now I'm trying to manage my credit utilization in order to push those scores back up a bit to take advantage of a lower refi/cash out to take care of a LOT of work on the house.  If I had this CC reporting, that would help.

At some point last year I joined here and got all three scores.  As of November 9, 2009 my TU was 763, Equifax was only 597 and Experian was 639.  Back in the early part of the year that TU dropped well below the 700 mark and I've never really been able to figure out why. 

In April I upped my CL on my VISA through the CU from $1,000 to $3,000 because I needed some resources to make all these repairs and such to the house.  (Termite damage!)  So my utilization went up and the scores went down.  But that doesn't seem to coincide with the TU score dropping.

I asked the CU about reporting to EX and TU, they do not.  Only to EQ, which is the score we get through here, correct?  I paid down the balance last week to about $275 but I don't think that has made its way through the calculations at this point. However I have it confrimed that the CU reported on June 30.

I have a couple of medical collections totalling about $500 I am working on that I made offers of PFD that were accepted.  So when they are paid, they have agreed to delete them from the reports. 

I say all that to say this, playing this "game" can be exhausting.  I'm a single income household, single dad with the three kids so juggling money has become an art form rivaled only by the magic single mothers in the world create.  As they do some incredible things indeed.  Hats off to them! 

So I hope that these scores witll come up so I can refi.  "Mid score must be 620.  Been working with my mortgage guy off and on for a couple of years so I know I can trust what he tells me. Hasn't failed me so far. 

Don't have scores as of today other than EQ which is sitting at a meager 613. This doesn't take into account the recent reduction in the bal on the CC.  That's what I am waiting for now, to see if it will push that over and pull the others along somehow.  My issue though is that the CU doens't report to the others. But somehow they are reflecting the changes.  Also,  a freakin' collection just hit me!  I'm sure that drove things down as well. 

Thanks for all your help and input folks!  Wish I could get a little "credit" for that company card!!!!

[IrishPM]

I have a corporate American Express card that I had to 'apply' for just as if I were applying for a personal card and it does not report to any of my credit reports. I am responsible for paying the bill in full each month after submitting my expense reports and getting reimbursed from my employer. However, American Express does a 'soft pull' each month on Experian simply for no other reason than I suppose they're checking to see if I'm paying my other bills on time and if I'm over extended. I've often wondered why they wouldn't report this account to my personal credit files since I'm responsible for paying the bill and they obviously check my Experian file each month.