Personal liability for corporate credit card debt?

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planojan
 
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Joined: Wed Mar 27, 2013 12:55 pm
Location: dallas texas

Personal liability for corporate credit card debt?

Postby planojan » Wed Mar 27, 2013 1:02 pm

I was recently in a sales tax seminar and it was mentioned in passing that if a corporate credit card holder uses the card for anything personal, they may then be held liable for the corporations debt.

Does anyone know where or how I may verify or follow up on this? May need to add verbage to our corporate policy agreement.


MemberSince99
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Centurion Member
 
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Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Wed Mar 27, 2013 8:19 pm

Wow. Why am I not surprised? Our entire system is based on giving corporates carte blanche to do whatever the hell they please.

Anyway, I don't know if that's true I just wouldn't be surprised. Even your run of the mill corporate card might be a snake pit for you. Depending on how they do it, you may be liable for it personally regardless of use, and while it won't reflect positively on your credit as a tradeline I'm sure if it becomes a collection it will reflect negatively. So you could travel with company authorization and pay for it using the card, and if the company fails to reimburse you, you are on the hook.

That's why I didn't want a company card, these guys typically have low to zero in the way of morals and it's all too easy to screw you if you make it onto their next downsizing wave. Fortunately I'm in IT so we are the burger flippers of the professional world and I don't have to travel for work. But it's scary stuff if you really read the terms. I did and I didn't like what I saw so I was glad Amex declined me for the company card and saved me from that.



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