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September 24, 2009My new employer wants to give me a corporate credit card for work-related expenses, and I’m worried that a bankruptcy that I filed two years ago might get me turned down for it. Is my credit history a factor here, or just my employers’?
It is at the discretion of your company to provide you with a credit card, however they will most likely check your credit prior to issuing it. I’ve worked for companies where the employee was not given a company card because of poor payment history and over extended credit. You might want to mention the bankruptcy to your employer rather than letting them find out on their own. This at least gives you the opportunity to explain why you were forced to file a bankruptcy. Life is not perfect and everyone has issues in life if they live long enough.
The good news is just because you have a bankruptcy may not prevent them from giving you the card, and chances are if you’ve re-established credit over the past 2 years and made your payments on time, you’ve probably improved your credit score dramatically. Typically the longer the ocurrance the less it hits your credit score. The key is have you re-established credit. I suggest you speak with a credit counselor about ways you can improve your credit (FICO, which stands for Fair Issac) score.
Good Luck!
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Horaayy..there are 6 comment(s) for me so far ;)
It’s the employers card; you are just using it, not applying for it.
They have the final say as they are ultimately responsible for the debit, not you
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Generally, for corporate cards, the card issuance company does not need to check your credit score because all the charges will eventually be billed to the company. However, being a bankrupt could be a different scenario.
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A coporation is a quasi citizen, and has nothing to do with you personally. The card is issued based on the credit worthiness of the corporation.
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It is at the discretion of your company to provide you with a credit card, however they will most likely check your credit prior to issuing it. I’ve worked for companies where the employee was not given a company card because of poor payment history and over extended credit. You might want to mention the bankruptcy to your employer rather than letting them find out on their own. This at least gives you the opportunity to explain why you were forced to file a bankruptcy. Life is not perfect and everyone has issues in life if they live long enough.
The good news is just because you have a bankruptcy may not prevent them from giving you the card, and chances are if you’ve re-established credit over the past 2 years and made your payments on time, you’ve probably improved your credit score dramatically. Typically the longer the ocurrance the less it hits your credit score. The key is have you re-established credit. I suggest you speak with a credit counselor about ways you can improve your credit (FICO, which stands for Fair Issac) score.
Good Luck!
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This decision is up to your new employer. Your credit will not factor into the decision unless your new employer pulls your credit and changes their mind because of your bankruptcy.
Most likely they have already done this before they offered you the position. So I would really not worry about it.
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Special Finance Manager for over 7-years.
Your social may be provided to the card issuing company – BUT it will not affect you from getting a card. Business credit cards are issued against your employers tax id number and how they pay the bill will never be disclosed against your credit report.
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