Do I have to pay off my corporate card? Will it hurt my credit?

[Reel]

I quit my job a couple months ago and they never paid the last item on my corporate card leaving it with ~$40 balance. The final date for payment is sometime this coming week because they canceled it when I quit. When I pulled my credit reports through the annual freebie system, one of them didn't come through but the corporate card wasn't listed on the other two. So if I just ignore the balance, will it impact my credit or does it go against the company? I'd like to not pay it out of pocket but I don't want to take a hit personally for them screwing around.

Update: I still have no idea if it affects my credit or not but I spoke with the company who denied receiving the post-employment expense report. They will pay it in a few days and then I spoke with a lady at Amex who said that payment schedule would be ok and she noted it in the file.

 

[compuwiz1]

If you fall under a corporate header, it's their responsibility, not yours.

 

[TheWatcher1955]

Originally posted by: compuwiz1
If you fall under a corporate header, it's their responsibility, not yours.

key word being if...at present he does not...pay the $40.

 

[Sukhoi]

Mine goes against my credit.

 

[George P Burdell]

Is a possible hit on your credit worth the $40?

 

[FoBoT]

most "corporate" cards are really personal cards and it is yours and you have to pay or your credit is hurt

if the bill goes to you and you pay it after you get a reimbursement from the company , then that is your card and your debt, even if they call it a "corporate" card

if the bill went to the company and the company paid it, then it has nothing to do with you

is the $40 from something you were not reimbursed for ?

pay the bill and move on

 

[Reel]

Originally posted by: FoBoT
most "corporate" cards are really personal cards and it is yours and you have to pay or your credit is hurt

if the bill goes to you and you pay it after you get a reimbursement from the company , then that is your card and your debt, even if they call it a "corporate" card

if the bill went to the company and the company paid it, then it has nothing to do with you

is the $40 from something you were not reimbursed for ?

pay the bill and move on

The bill went to me but it was certainly a corporate card. The company was integrated with the AMEX system and paid directly based on our allocations into the company's expense system.

This is a bill for my last month of blackberry service while with the company. I submitted an expense report about 6 weeks ago for it but I never heard anything back and just assumed it would be paid. I have my former HR rep's card somewhere so I'll have to inquire with her about it. I am sure once I get her involved the money will go where it should. I was curious if it would negatively impact me if I don't pay it. It sounds like based on your definition, it would not.

I remember some of the self-important types didn't want to be bothered with their expenses and would let things linger for long periods of time so I can't imagine they were taking a credit hit or they might care.

 

[BCYL]

My corporate card was against my credit, and it was my responsibility to make sure it gets paid off it full...

 

[kranky]

If you don't pay, it will go on your credit report. AmEx used to be pretty lenient with corporate cardholders since some employers are slow in reimbursing expenses, but not long ago AmEx tightened up their policies. You can still be late but eventually you'll get the hit.

We had someone who was 90 days late paying their corp card and AmEx called the company accountant. AmEx probably would have gotten the money from the company if push came to shove, but it was on the employee's credit report as a late.

 

[cirrrocco]

quick question?? for a corportae card. does the credit card company run a credit check against the employee or the company??

 

[Cattlegod]

Not at the company I worked for. I had a balance while I was a summer intern. Came back 2 years later and it was still on there when they issued me a new card. No impact to my credit.

 

[FettsBabe]

Yes, unless, the card is just in your companies name, and yours is no where on the card nor are you an authorized user, even if you didn't sign an actual contract, you are LIABLE. It WILL go on your credit and it WILL screw you over.

It differs state to state, but basically if you use the card EVEN IF ITS NOT YOURS, you are liable for such debt.

Suck it up and pay the $40.

 

[FettsBabe]

cirrrocco

They usually don't run a check.

I will tell you that even if you use a friends card, when you sign your name, you are signing a contract to pay for that entire card!!!!!!!! Take notice of this and be aware of what you do with credit cards.

I don't own a card and never will. I hate them. They have breach contract rates with some going up into the 30% range which runs from the date of breach until judgment and then at 8.0% from judgment until paid in full, then add on 15% attorney fees and court costs.

A measley $2000 debt can turn into $10000. Don't screw with them.

If you have a card, pay it off, cut it up, and put money "for a rainy day" into a savings account. You will be thankful later on.

 

[kranky]

We have had people declined for corporate cards due to credit problems. AmEx contacts the company and tells them they are going to decline, and the company can choose to guarantee payment for the employee. If they do, AmEx will issue the card.

 

[pcslookout]

No you do not. Its your work's responsibility.

 

[FettsBabe]

"No you do not. Its your work's responsibility. "

Absolutely not. If you sign your name or use the card you are liable and CAN be sued even if its your friends card. Anyone who uses it can be used. When you sign you are authorizing that it WILL be PAID.

 

[Feldenak]

Well, for the corporate AmEx I'm turning in this week there's nothing on my credit report about it. Nothing good regarding on-time payment, nothing about an inquiry...hell, the only time I see the statement is if I forget to turn in a receipt and accounting comes by and asks me for a GL code for a purchase. As far as my credit history is concerned that card doesn't even exist.

 

[Reel]

Update: I still have no idea if it affects my credit or not but I spoke with the company who denied receiving the post-employment expense report. They will pay it in a few days and then I spoke with a lady at Amex who said that payment schedule would be ok and she noted it in the file. (I have her badge number and name.)

 

[krunchykrome]

My corporate card affects my credit.

 

[Regs]

Name holder on card? You bet.

Happen to my mother. She checked her credit online for the first time in 10 years and found out a corp. card left a little black mark on her score from 4 years ago. It's not like defaulting on a car or school loan, but it does have an effect.

You can dispute it, but if you're like my mother who waited 5-6 years to find out, you're SOL.

 

[Josh]

"More than half coporate programs have a corporate liability, meaning your employer is on the hook for the bill. If payment is late, it won't affect your credit report.

Thirty-seven percent of card programs, though, place the responsibility on the employee.

That's not to say your boss won't reimburse you for business expenses. But if the bill is paid late and the issuer reports it to the credit bureaus, it will reflect on your personal credit history.

Large companies are more likely to follow this policy."

-Chicago Tribune

 

[Schfifty Five]

Could you just pay off the card and then call your previous employer to reimburse you for those expenses? It should still be them that foots the bill....right?

 

[Saga]

Odd. My company Mastercard has my name on it, but it does not appear on my credit score and I have at times used 20k a month on it.