Due to travel / entertaining with my job I have been asked to apply for a corporate credit card through American Express.
The card will be in my name but also hold the company name.
I have a high end 4 figure ($XXXX.XX) default from early 2012 which was paid then, but wonder if this might affect my approval for this card.
My only other debt is car loan taken out back in 2011.
Thanks in advance.
Didn't want to then have to explain myself to the boss and if I knew it was a no i would prefer not to see it on my veda file.
It shouldn't since this is a Corporate card application and not a personal one. Corporate cards are "guaranteed" by the employer.
Yep, the responsibility of the money being paid lies with the employer now. In return, they get to observe your spending, set credit limits and possibly use the points.
On the responsibility of money being paid, it depends on what type of Corporate account it is. In a limited liability Corporate Amex account, the employee is "liable for all charges" that they "make with the Corporate Card, except business expenses of the Company for which the Company has not reimbursed" the employee.
The paid default will decline you as credit cards are unsecured debt. As far as I am aware if the card is in your name even though it's a corporate card you are responsible for the debt. Thats how my corporate cards have always worked. If the card is in the name of the business then different story.
What is your job OP and do you enjoy it?
Is it actually a responsibility of the employee or the employer (to apply - be credit checked etc)? - When I started in my current position 7-8 years ago I signed a pretty basic CBA form which I am reasonably certain only required me not to disclose the pin / give the card to others, report fraud, basic stuff etc, not assume liability for the debt / be credit checked etc - and a couple of weeks later I received a corporate credit card in the post.
Just try an application and see how you go?