Legal Question in Credit and Debt Law in Massachusetts

Corporate Credit Cards

Our company recently required its sales team to apply for a corporate Amex card. The question I had asked several times over is ''will this hit my personal credit'' because I don't need another credit card. I was repeatedly told ''no''. I recently ran my credit report and low and behold it was on there. I was always under the impression that corporate cards are just issued thru the company to the employees. A bell should have gone off in my head when I was ''applying'' for the card and it asked for my SS#. I feel really betrayed as they said ''no'' and really forced us into doing it saying it was ''mandatory''...well I didn't want to make waves..so I applied for it. Now I have an AMEX line of credit on my almost perfect credit. Legally, can they make you get a card under your social security number? Do you have a suggestion, as I don't want to use the card...should I close the account? or just not use it? I am under the impression that closing accounts hurts your credit.

I would appreciate some suggestions.

Thank you


Asked on 2/10/07, 11:32 am

1 Answer from Attorneys
henry lebensbaum Law Offices of Henry Lebensbaum (978-749-3606)

Corporate Credit Cards

You are correct.

Usually, the corporation gives you a card with is really its card with you as an authorized user.

Having the card alone does not damage your credit line. Having a line of credit is not damaging.

What action you may take depends on the balance between what the employer requires vs. what you are willing or able to do. This is a personal, not a legal question.

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Answered on 2/10/07, 5:38 pm


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