Corporate AMEX application was denied - Will I be approved if I...

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kydtsoos
 
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Joined: Mon Sep 24, 2012 1:24 pm
Location: United States

Corporate AMEX application was denied - Will I be approved if I...

Postby kydtsoos » Mon Sep 24, 2012 1:39 pm

For company expenses I applied for a Corp Amex card as it is my firm's policy for handling business expenses. My application was denied because I have a different closed personal Amex account with a balance, which is derogatory information. My payments on this personal amex account are made through a credit counseling service that Amex agreed to in order to lower my interest. I've never missed or been late on a payment, also the amounts I pay are more than the minimums on my monthly statement. In following up on the denial for the Corp card side, they said the reason for my denial was based on the derogatory info on my personal amex card. If I pay it off I could re apply.

But I'm worried if I pay off the personal card and reapply they'll still say no because I have other bank's cards that are closed which have balances that I'm paying as agreed through my counseling service.

Does anyone know how what they look at in determining whether I can have a card? If I pay off my personal card so it doesn't appear anymore as derogatory, will they then look at my other cards and call that derogatory too?

If there would be any chance of this, I would rather hang on to my cash and just try to use that to pay for my expenses on a onesy two-sy basis. I would not feel comfortable asking my company's amex administrator to work on getting a gaurantee so I can get a card.

Thanks.


Money card
Centurion Member
Centurion Member
 
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Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Sat Sep 29, 2012 12:43 am

Let me help you with this. first of all are you an authorizing officer? if you are 1 of these , vice president, president, treasurer, general manager, ceo or business owner if you are? were you the 1 that applied for the corporate card or did 1 of your higher ups sign you up
in the box where it says authorizing officer needs to sighn for the corporate card?

I believe what American express looks at for a corporate card, the owners or ceos the corporation, income, ability to pay American express back and in full

as far as can you have a corporate card should be yes because what you said your paying American Express through the credit counseling service, American Express is getting paid. I know this isn't the best way for them to get paid, but at least they are.

now since your looking at 2 different cards 1 being personal and 1 a company card. if you were going to spend cash but get reimbursed

let's say you stayed at a holiday inn, ate out 5 nights you would put this on your expense account, but let's say you went
to hooters 1 afternoon , then you went to a Mall and bought a dress shirt at Neiman Marcus would you put these 2 charges on your expense account?

so therse personal credit cards and corporate cards. as long as your not the owner, yes you should be allowed to have a corporate card.

if you had asked this question , your company want's you to have more of a business looking card
like the starwood perfered guest or Delta card then this would be a different situation, because even though the Delta gold is more business looking than say Blue cash, clear, Blue , green , gold ect the Starwood and Delta are considered personal cards and then
with your personal card because of your different closed out account and balances I can understand them saying No.

as long as someone else sighns your corporate card application you should be fine.

SteveT
Gold Member
Gold Member
 
Posts: 37
Joined: Wed Dec 31, 2008 2:40 pm
Location: California

Postby SteveT » Fri Oct 05, 2012 1:04 pm

kydtsoos wrote:For company expenses I applied for a Corp Amex card as it is my firm's policy for handling business expenses. My application was denied because I have a different closed personal Amex account with a balance, which is derogatory information. My payments on this personal amex account are made through a credit counseling service that Amex agreed to in order to lower my interest. I've never missed or been late on a payment, also the amounts I pay are more than the minimums on my monthly statement. In following up on the denial for the Corp card side, they said the reason for my denial was based on the derogatory info on my personal amex card. If I pay it off I could re apply.

But I'm worried if I pay off the personal card and reapply they'll still say no because I have other bank's cards that are closed which have balances that I'm paying as agreed through my counseling service.

Does anyone know how what they look at in determining whether I can have a card? If I pay off my personal card so it doesn't appear anymore as derogatory, will they then look at my other cards and call that derogatory too?

If there would be any chance of this, I would rather hang on to my cash and just try to use that to pay for my expenses on a onesy two-sy basis. I would not feel comfortable asking my company's amex administrator to work on getting a gaurantee so I can get a card.

Thanks.


I am the Amex Administrator for my company. From what I am told from Amex is that they pull a soft and check to see if you are on the "blacklist." You are probably on the blacklist because there is still a balance on your card. Once the balance is paid in full you will be removed. You might also want to make sure that the CCCA has been paying Amex on time.

Administrators are informed of card denials. You might ask the Administrator to guaranty the account. They can set limits or make it NPSPL. You can explain your situation. This happens all the time.



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