Has anyone else who is "credit challenged" had any luck getting approved for a Corporate Amex card? Anyone know if it's easier to get than a regular Amex? (Providing you work for a company who uses the Corp Amex program) My company wants me to get one but I'm terrified I'll get declined.
RE: Corp Amex - anyone get app I don't know anything about this, but wouldn't it be possible since the Corp is going to be paying the bill right? Therefore, it's the Corp's credit not yours which they would be concerned with, right?
RE: Corp Amex - anyone get app I don't think it rides on your credit. I can tell you this much: I had a corporate AmEx several years back with a company I worked for. My credit was horrible at the time, but they gave me the card, and none of my credit reports ever even showed an inquiry. Nor did the AmEx card ever show up on any of my CR's. So I think it's all about the employer, since it's their responsibility to pay the bill. Just my two cents.
Wrong! The corporate card is based solely on your credit. The reason why it's a *Corporate* card is because you are giving your company authorization to pay on YOUR BEHALF. Meaning, if you charge on the card, your company can send funds to Am/Ex for you (after you submit your expense report). At my company, when you submit your expense report on-line and you mark "Am/Ex Company paid" that means that my company will wire Am/Ex funds to my account on my behalf so I don't have to pay out of my own pocket and wait for a check or just wait for a check and then pay. The bill comes to your house and you are responsible for it. I truly do believe that the Corporate card is the easiest to qualify for. Just remember, I got the card w/ OUTSTANDING unpaid debts on my report! I'm sure they aren't going to care about paid bad debts, etc. Plus they know that people NEED this card mostly for travel purposes so the requirements are pretty lenient (I would say). Even though my report was bad, I did have several good trades on there that were showing.
Also... They didn't run a hard inquiry.....they ran a soft inquiry on Experian. I'm still trying to figure out how much information they are able to see when they run soft inquiries. And by the way....I was able to obtain the secured Optima card w/ that same ugly credit report. They pulled a hard one for that.
RE: Also... I applied a year ago with a previous company and was declined. They pulled a hard inquiry. My credit has improved since then and now I'm at a new company. There are 2 types of corp cards. One is the company is completely liable. The account is in their name and they just give you a card as an authorized user. The other is the one I'm concerned with, where you have to apply for it in your own name and the bill comes to you - you are liable. Even with this method it does not get reported to the CRA's unless you default (become 180 days+ past due). That's one of the advantages of it being a corp card. Another is that the company can set it up so that certain types of charges (i.e. airline tickets) get billed directly to the company but all other charges go to the cardholder. But of course your company has to have the account and they allow you to obtain a card through it. I plan to call Amex today to get more info about the approval criteria.
RE: Also... I agree with you...When I worked for another company five years ago, I received a corporate card with marginal credit. There was an on-site administrator who basically issued a number to you immediately. When I fell on hard times, used it for personal use and subsequently defaulted on it, it showed up on my credit report. It now shows it's a paid collection. On the other hand, when I changed jobs last year, applied for a corporate card, I was declined. This company uses strict guidelines and offer a "guaranteed" card with a preset limit. If payments are made faithfully, there is an option to increase the limit.
RE: Corp Amex - anyone get app I called Amex today and got the info. It is based solely on my credit. The corp Amex is NO easier to get than a regular Amex green they told me. Apparently, they look at your credit score and if it's questionable they look at other things to determine if you can qualify. The criteria they look at is a combination of income an any positive accounts you have. They require you to have at least one credit card that has been open for a year and another for 6 months. So, I guess I'm going to wait 6 months since I just opened my 2nd and 3rd cc accounts.
Amex will bug you if company i I know at my previous employer -- a huge corporation that was often slow in paying expense -- Amex would call employees if the corporate card account wasn't paid. Thank goodness I never applied for one. I don't think the bills were sent to the employee's home, though. But Amex made it clear the employee was liable if the company didn't pay. And if you work for a company that goes bankrupt, Amex can come after you for payment.
RE: Corp Amex - anyone get app It has to be easier than the green card. I did not qualify for the green card, but had a corporate amex. The card is the cardholder's responsibilty, unless you have an agreement otherwise. My company no longer uses corp. amex, however, I always had to pay my bill (they were a little inefficient, that's gov't for you though). Also, it is my impression that depending on volume (number of cards, etc.) the company (meaning who you work for) has the ability to get the card approved.
RE: Wrong! You guys are part right! AMEX definitely runs a credit check. As long as you don't have god awful credit, you will get the corp. card. Reason being, the company sponsors you as an applicant under their account. It would be similar to if you wanted to get an additional AMEX for your wife under your account. They still run a credit check As far as your MP$ saying that the company pays on your behalf, wrong. I have worked for several companies, and currently director of sales. Many of my employees have been turned down for a corp card and we have to sign a letter of guarantee. If we say $1000, their limit is $1000. We never pay for their bils directly, the employee pays AMEX when they get the bill. We get a master statement, so we can monitor spending habits, but thats it. the only time we send a check to Amex is when we pay for the annual fees for everyone and when air fares are direct billed to us. As a matter of fact, in the application packet we give to our employees states that the employee is responsable for paying for charges, regardless of whether or not its expensed.
Re: Wrong! I had three AMEX accounts back in 2005, that were removed from my bureaus long ago. Since then, Iâ??ve always wanted to get another card with them, but knowing I defaulted for quite a bit of money. When I started my job last January, part of my employment was to have an AMEX Card for travel and expenses. I was freaking out back then thinking this credit denial, would keep me from a job. I had to apply for the card through AMEX, using my companies code or something. To my amazement, I was approved, through AMEX. I have heard of a blacklist they keep. Also, the corporate card is in my name, no mention of the company on the card. On the statement mailed to my house, the bill is in my name with company name on second line, before address. Also, I just recently noticed, there was a hard credit pull/inquiry on Experian around that time back then. So my question is, the fact that all the above happened and the AMEX derogs are not on my bureau, could I possibly be eligible for another card, when my score increases, or now, based on my being approved for the corp card with a hard credit pull?
Re: Wrong! Yes, mowgli, I think it's highly possible that you could get approved for another AMEX card at this point. Do you know where your FICO credit scores stand at the moment? And what Amex credit card do you have interest in?
