I work for a small company and they want me to get a company credit card.Will this effect my credit rating?
I am worried that if the company falls into financial difficulty that the fact that my name is on their company credit card this could adversely effect my credit rating. Please advise. No jokers please.
if it falls it wont affect your rating. the only thing a company credit card will do is help because transunion, equifax..and that other one…well they like when you have more than one credit card. so thats what helps your rating. they like it when people have more debt. and when they can pay it off.
hope i helped :]
If the company is footing the bill for the charges you will make on the card, if they go under and do not pay the bill on your card, it will effect your score. You are responsible for any charges made on a card that’s in your name whether it be a company credit card or not. No judge will make them pay for something they cannot pay if they file a chapter 13. I would request they open a card in their name and put you on as a user. That way you’re off the hook if they do go out of business. Good Luck!
The credit card is not in your name but in the company’s name , you only have signing authority on it and that is all . If the company doesn’t pay its bills you aren’t responsible only if used the credit fraudulently . The company had establish a credit rating not you .
If you are simply an “authorized user” of a credit card that is in the comany’s name it shouldn’t affect your credit rating one way or the other.
If the company is asking you apply for credit jointly with the company, then it could most certainly affect your credit rating.
Carefully read everything they want you to sign with regards to this agreement. If it’s something asking for your personal idetification (SSN, etc), then politely decline.
YES this will effect your credit. Sign nothing. They can easily get you a credit card that THEY are responsible to pay. They are asking you to get it because they have no credit. If you do the wrong thing, you will be on the hook for your bosses bills and when you don’t pay his bills and when they go broke your credit will be shot. If they try to talk you into this run like the wind. If they say it’s just for record keeping, laugh in their face. They will be reimbursing you slower and slower and you will be paying the bill later and later. Sounds like great fun to me!!!!! Good Luck
It will not affect you as long as
you are not an owner of the company
or as long as it is not your ssn
on the applicatioon.
If they are asking you to get
the card in your name with your
personal info, or ssn, and use
the card for company purchases,
then do not do it.