American Express Corporate Card

[FS09]

someone stated you have to go through an approval process..thats not exactly true..your company will call amx and have you listed as an authorized card user, and they will send the company the card with your name on it...this is not your company, so i can not see you having to go through an approval process, your company will handle anything you need in getting your company card.

I hope you're right! That would be a blessing! How you describe it is how I thought it should be. Not just because I want it that way, but it would make sense that a company card would be tied directly to them, not me. Yes, I am using it, but from a few friends with company cards, it doesn't show up on their credit report. I'll let everyone know how it turns out soon. I start the new job next week, so I assume I will be getting an answer either way fairly soon! Wish me luck.

[justbroke]

There are different types of American Express (AMEX) corporate charge cards. There is personal responsibility and company responsibility. Most of the large companies use personal responsibility cards, and a credit check is performed. If you would have qualified for a regular AMEX card, then you will receive the maximum credit limit. (Yes, AMEX cards do have a credit limit contrary to what they say, but it is movable. ) This credit line, at least for my corporation, will be either $75,000 to $100,000 if your credit is good, or limited to $5,000 with a retail restriction if your credit is poor.

Even though the $5,000 credit limit is for poor credit, is is "partially" guaranteed by the corporation. They promise to pay all business expenses. Also, many of these corporations directly pay AMEX for expensed items that are approved by the company and is why the $5K credit limit is offered to poor credit employees.

Now, if the American Express card is a "business" card, it's a different story. You are only an authorized user and the process is as simple as calling in with minimally your name (don't even need SSN).

There is a distinct difference between AMEX "business" and "corporate" card products.

[Brendon]

I went through this in 2008. I had to fill out the application for the corporate AMEX and received a letter that I was denied. I called AMEX and told them this was a corporate card and the lady said she missed that. Card was approved and I never had to talk to anyone with my company.

[backtoschool]

someone stated you have to go through an approval process..thats not exactly true..your company will call amx and have you listed as an authorized card user, and they will send the company the card with your name on it...this is not your company, so i can not see you having to go through an approval process, your company will handle anything you need in getting your company card.

Why would you say this? It is incorrect. In most (if not all) medium and large companies, you have to fill out an application to get a corporate amex card, and that application is based on your personal information. The card is not a company card in the sense that it is guaranteed by the company.

Very few companies fully guarantee corporate amexes any more. I worked for one that did, but I still had to go through an application process based on my personal credit info. The company paid amex directly though, and all charges were guaranteed. All of my other corporate amexes have not been guaranteed by the company.

[nerves]

My situation is a bit different. My card for company business is issued by Citi and I didn't have to give any information except my name, agreement the card is for business purposes only, etc for internal use only. The card is fully backed by the company. I work for a big corp. Our expenses have be turned in within 7 days after the charge and the company takes care of it. I surely wouldn't want a company card I would be responsible for with all the businesses that are going belly up these days. The system/card used is determined by each company.

[katfzl]

Hehe... I went through my security investigation last year ... The investigation apparently was only concerned with my life up till 5/26 but I didn't file for bankrputcy till 6/6. So, I did end up telling the investigator about it but I apparently didn't have to! LOL. She told me it wouldn't be an issue and told me she had gone through one herself a few years prior.

If the clearance investigation only goes back 5 years do they only pull credit for the past 5 years? I thought a credit report was "a credit report" and went back 10 or more years automatically. I only am required to report 5 yrs work and residential history, (pubilc trust/SF85p). My credit was good prior to this, so I wasn't worried about how far back it went, but honestly I thought credit reports were for a standard amount of time...
Hope I get your background investigator! I need a break.

[Amy26]

Hmm... not sure what you mean about a credit report going back 5 years? Credit reports are "as of today" based but they also contain a very long history on your accounts. They do not apply the same date filtering to your credit report... they just pull it and review it. I was never asked any questions pertaining to my credit report specificially... just provided information regarding my bankruptcy.

[katfzl]

Well, it was your comment about how your investigation was only concerned with your life up till 5/26 but you didn't file for bk until 6/6. I assumed the information was from the credit report and they pulled the report with specific dates in mind. I understand now that you meant the credit report went as far back as they usually do, and up til the present day they pulled it (5/26), correct? It appears that your credit was consistantly very good up until you filed for bankruptcy, 5-10 years ago, etc? This could have played a part in your granting of a clearance perhaps...

[Amy26]

Correct.

I filed for bk 6-6-2009 not 5-10 years ago. They pulled my credit report for the security clearance on 5-26-2009. I just meant that they didn't need to know about my bankruptcy since it happened after they pulled my credit report.

[tmb1203]

Does Amex ever deny the card even after the company has guaranteed payment?

[justbroke]

Does Amex ever deny the card even after the company has guaranteed payment?

If it's company guaranteed, then Amex could only deny it if they were denying the company. By definition, a company-guaranteed card has no liability or responsibility of the cardholder.

But be careful, you can have a "personal" liability card in which the company "guarantees" payment of legitimate travel or company related charges.

[FS09]

Just an update...the American Express card I was given from my new employer is the " Am Ex Business" card. The first day I started (3 weeks ago) they handed it to me! I have used it for $2-$3K in business expenses with no problems. Hopefully my luck continues!!!

[justbroke]

The "Business" card is a business liability card, so that's great!

[backtoschool]

The "Business" card is a business liability card, so that's great!

As always, justbroke, I learned something from you. I had no idea that there was an amex card that didn't look at your personal credit at all.

That must be a different animal than the corporate amexes I have always had (pre-bk).

[justbroke]

That must be a different animal than the corporate amexes I have always had (pre-bk).

I have carried American Express Business cards including the elusive, but not exclusive American Express Platinum Business Card. The "Business" variety has a personal guarantee from the officers or owners of the company.

The "Corporate" variety is difficult to get for small businesses. I tried. From the last time I tried to get true "Corporate" cards, for my business, you have to be incorporated for something like 5 years, and have a good P&L. There are other requirements for revenue. (Smaller businesses stick with the "Business" card.) I don't think a small business can even get a "Corporate" card due to some revenue levels. The Corporate card product allows the corporation to either assume liability or pass it to the cardholder. You can't do that with the "business" card.