What is the point of business credit cards?

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NuPlastic
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What is the point of business credit cards?

Postby NuPlastic » Wed Jan 18, 2012 12:26 pm

Do they help me personally? Is there a benefit? Amex Open what have you done for me lately? But seriously, I have an Amex Bus. Plat. what does this mean? If I quit the company do i take it with me? can i upgrade to a personal platinum? does it affect my score? I have never made a payment the company does, does this reflect on my credit? So many questions, and NO ANSWERS!!!!

Im really not this dramatic, but when i start typing I become eccentric.
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ooxs
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Postby ooxs » Wed Jan 18, 2012 10:44 pm

You are an authorized user and should only use it for that business. While you work for that company, you are rolling on platinum :) If you leave, the card stays.This card cannot be upgraded but you are welcome to apply and possibly use that card in your favor.

NuPlastic
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Postby NuPlastic » Thu Jan 19, 2012 5:17 pm

OK, I get the gist of it. But, if I leave the company I was told I need a letter stating that I am no longer with the company,then that card will be removed from my Credit Score. Will that hurt, I plan to leave the company in the 3 years after my contract is up? So I can use it I'm not responsible for it. It shows up on my credit report. But i only effects it as long as i work there? this makes no sense, and I like to think of myself a a NoObe who knows a little.
Current Cards: American Express: Green Bank of America: Platinum Plus Visa Discover: More Capital One: No Hassle Rewards, Platinum Master Cards
Primary Everyday Card: http://creditcardforum.com/rewards/232-warning-american-express-blue-cash-here-s-catch.htmlBofA: Platinum Plus Visa
Primary Travel Card: Amex: Green

ooxs
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Postby ooxs » Thu Jan 19, 2012 11:51 pm

As an authorized user it will be reported on your report but you are not 100% responsible for this account. When you leave, they suspend your account/card and no additional update will be made on this account. As i indicated above, as long as the account is in good standing, it is helping you and what you don't want is the account history deleted or removed for your history.

Another thing we need to work on is to get you to extend after three years and become permanent, in this economy i don't encourage anyone leaving but again you have a company trusting you with a charge account, which is a good thing and a keeper.

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PlatinumAMEX94
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Postby PlatinumAMEX94 » Fri Jan 20, 2012 1:58 am

NuPlastic wrote:OK, I get the gist of it. But, if I leave the company I was told I need a letter stating that I am no longer with the company,then that card will be removed from my Credit Score. Will that hurt, I plan to leave the company in the 3 years after my contract is up? So I can use it I'm not responsible for it. It shows up on my credit report. But i only effects it as long as i work there? this makes no sense, and I like to think of myself a a NoObe who knows a little.


American Express usually reports every month. Take a look at how often they pull your credit report. When you are no longer an authorized user, no more updates will occur to your credit file. There usually is a note that you have been removed as an authorized user with the month and year. If you want a Platinum card for yourself after you leave, then you should call the number on the back of your card now, and apply. Every card has a different customer service number.
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Postby Money card » Mon Jan 23, 2012 8:22 pm

allow me to answer this. back in the old days credit cards were accepted in stores like nbo, caldors bradles, barnes and nobles

hotels and restaurants meaning sit-down. no fast food, pretzle stand, movies.

when American express first issued their card they had 2 formats. 1 was the personal and the second was the corporate. in those days the gladiator was in the same spot and on the front of the card there was wording saying corporate card.

it had the card holders name and company name. if you worked for a small business and traveled you were issued a corporate card.

American express wanted different use for different cards for example if Johnnie wanted to go to hermans and buy some sneakers for his son or daughter, Macys (back then bambergers) if he had to buy a suit, dress belt, A&S if he had to buy cologne, these would be categorized as personal charges and would be paid by using a personal visa, mastercard, American Express or cash.

Now if Johnnie was a vice president for Ibm had to do some traveling, airplane rides, entertained clients at dinner functions while being away from home, checking into hotels, he would be given a corporate card the company would pay for his business expenses.

so this is the reason why there are business cards.



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