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A friend of mine recently started a new job requiring frequent travel. In turn, his company provided him with a corporate card for use when charging reimbursable company expenses. Since he is the one responsible for paying the card’s monthly balance, he was curious whether the corporate card will be reported on his credit report and credit score.
The short answer is that it may or may not be reported, a decision influenced by two factors: how the card was set up and the card issuer’s reporting policies. American Express is arguably the biggest provider of corporate cards; generally speaking, they don’t report such accounts on an individual’s credit file as long as the card member fulfills his or her cardholder responsibilities (paying account balances in a timely manner, for example).
[Related Article: Pew–“Business” Credit Cards Dangerous for Individuals]
If the corporate card is reported to the credit bureaus, account information including the date the account was opened, payment status and any balance information may be factored into your own score.
Here are a few things to remember when dealing with corporate cards:
These actions will help you most effectively reduce the possibility of surprises down the road.
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