Does the concept of corporate cards make you as uneasy as it does me?

For just about anything you want to get off your chest about credit cards.
6 posts
MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Does the concept of corporate cards make you as uneasy as it does me?

Postby MemberSince99 » Sat Jul 06, 2013 6:57 pm

I've only been in the position of having to get a corporate card at one job. It was Amex, and they declined me citing prior delinguency even though my credit was at the time good. I was honestly happy to be declined for it, though embarrassed and a bit worried I might lose the job as a result.

To me these things just seem like another potential way of corporate America shifting liability for work onto the employees. You get the card, but it won't report anything positive on your credit only negative if you fail to pay (even if the company never re-imburses you). And if the company goes under or plays hardball YOU are personally on the hook for the company's business expenses, though you won't be able to write them off your taxes or sic a vulture agency on the company for failing to pay you (though you could sue, but good luck with that).

I personally was just never comfortable with this kind of thing. I guess it comes from a deep distrust of most companies after watching the amoral way they conduct business. Yes that's their duty to the shareholders, but I'd be nuts to actually trust them, knowing that. Anyone else feel the same?


takeshi
Centurion Member
Centurion Member
 
Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Postby takeshi » Sat Jul 06, 2013 9:34 pm

Not here but my company does take care of its employees. I'm not so naive that I don't think that nothing could ever happen but it doesn't bother me like it seems to bother you.

dickey1331
Centurion Member
Centurion Member
 
Posts: 229
Joined: Thu Mar 07, 2013 10:59 pm
Location: Houston, TX

Postby dickey1331 » Sun Jul 07, 2013 1:19 am

I have a Chase Government card. I dont think the Government is going to go out if business so I dont worry about them not paying me back.
Platinum Delta Skymiles $12,900
Marriott Rewards Premier $12,000
Discover IT $12,000
USAA Cash Rewards $11,000
American Express Blue Cash Preferred $10,000
Chase Sapphire Preferred $6,500
Best Buy $6,000
Chase Freedom $4,500
Zales $4,000
Amazon Prime $4,000

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Sun Jul 07, 2013 6:25 am

dickey1331 wrote:I have a Chase Government card. I dont think the Government is going to go out if business so I dont worry about them not paying me back.


If any private company operated the way the government does, they'd either be 1. getting government bailouts to stay afloat or 2. BK.

I'm not entirely convinced that at some point the US government won't default on its massive debt load. If I were a potential lender to the US government, I sure wouldn't loan them anything. I mean think about it, from the traditional lending standpoint our government is in debt over its eyeballs, there is no real plan to ever pay it down just a lot of pie in the sky optimistic promises (oh yeah I expect to get a better job in a few years that pays more money - tell that to say Amex and see how far it gets you) and they've already gotten an increase in APR for the first time ever a couple of years ago when they played politics with the debt. To me that does not look like the picture of stability. As an analyst I simply would not extend them further credit and I'd be VERY worried about ever getting paid what they owe in the first place.

Now granted for your card, yeah it's probably not a huge worry but something to think about. This government is anything but what you'd call "fiscally responsible" though they sure as hell do enough preaching of that to everyone else. Personally I believe in the concept, I just don't see that our government actually practices it.

jojo
Gold Member
Gold Member
 
Posts: 43
Joined: Thu Jun 20, 2013 10:20 pm
Location: CA

Postby jojo » Thu Jul 11, 2013 1:48 am

I didn't know you could be declined for a corporate card. I thought it was at the employer's discretion on whom they issue cards to. Amex isn't taking a risk on you, they're just giving you access to your company's money, which your firm has authorized. When I got my corporate card, I remember having to give up my SSN but I don't remember a hard pull. My manager approved my app and set my spending limit.

The only thing that makes me uneasy about my corporate card is all the points I'm losing out on. I would gladly provide my own capital on business trips and then submit an expense report. However, I understand that a firm would rather manage all their employees expenses in a centralized location as opposed to having reimbursement forms floating all over the place. I've also seen the downfalls of expense reports. I used to work for a small company where I had to use my own cards to pay for business trips and collected the points. The clerk who handled the expense reports was a nightmare. She would constantly question expenses and change her mind on what counted as an reimbursable expense. One day, bottled water was reimbursable and the next day it wasn't. She made up her own mileage rates. She was a mixed bag and you never knew what your expense check was going to look like.

As for the company refusing to reimburse expenses, you would be out the money anyway had you used your own card. I've lost out on some reimbursements because arguing with the crazy accounting clerk just wasn't worth it.

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Thu Jul 11, 2013 6:48 am

Yeah they can decline you. Amex doesn't much care for past delinquencies that aren't paid. In fact when I called them up to ask about it, they gave me the number of their collections department, hinting that if I took care of the delinquency they would be inclined to issue the card. Since I didn't really want a corporate card I was happy to let it go. These days employers are looking for any and every reason possible to dump staff so that could get you fired at a lot of places. I never have figured out why they hire like crazy for say 3 months, then all of a sudden everything is gloom and doom and they dump a bunch of people then 3 months after that they hire a bunch more, and repeat it over and over. They may think that is good, but what you get is people trying to make themselves as fire proof as possible and spending their time and energy covering their rears more than working. But that's another story.

I know what you mean about the accounting clerks. You'd think the money came out of their bank account.



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests