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#1
01-08-2007, 09:18 PM
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Question about Company Credit Cards
My boss just gave me a company credit card. The card is in my name. Will having this card impact my personal credit? My boss wasn't really sure whether or not it would. I know a few here work for credit card companies and was wondering if anyone knew.
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#4
01-08-2007, 10:15 PM
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Re: Question about Company Credit Cards
el d is right
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#5
01-08-2007, 10:16 PM
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Re: Question about Company Credit Cards
[ QUOTE ]
el d is right [/ QUOTE ] I figured he was. I was just curious. Thanks for the answers guys.
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#6
01-08-2007, 11:05 PM
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Re: Question about Company Credit Cards
It depends on your company.
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#7
01-08-2007, 11:52 PM
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Re: Question about Company Credit Cards
[ QUOTE ]
Matt, No. [/ QUOTE ] While this may be technically correct, I do not believe it to be completely accurate, as it probably depends on the company. For my firm, I have had a company card for 10 or so years. I can recall signing a disclosure statement when I received the card. In a nutshell, it said that if I were ever to abuse the card, I gave my firm permission to seek renumeration of these funds, as well as give the credit card company permission to seek repayment as well. EX: I go off and buy a $25,000 necklace for my "girlfriend" on the company card, then quit. The firm will be secondarily liable to me, as I have used the card for unauthorized personal use. The credit card company can come after me here, and only if I am unable to pay will the firm then be called on to repay my debt. The firm at that point will seek indemnity from me. But again, companies differ, so check with your boss.
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