How does a company obtain credit cards based on it’s credit without having to have a guarantor from a person?
When our company began we opened up credit cards for employee’s under our CEO’s credit line because the company did not have sufficient credit. Two years later, we are stumped as to how to obtain credit cards for the company using only the company’s credit. American Express tells us that no matter what we have to have a guarantee from an individual person backing our credit. Does anyone out there know how a company can get credit without that personal guarantee? Surely, Microsoft doesn’t use Bill Gates credit to obtain cards for it’s employees. Thanks for any and all help in advance!
Tags: American Express, Cards, Company, Credit, guarantor, insurance loans mortgages, Loan Q&A's, obtain credit cards
Paying off debt you owe is always good.
I worked for years for IBM. I had a company card. Initially, there was no personal guarantee, then they changed the policy. It had to do with corporate accounting too. If a person has a company card, it can be abused and you can be fired. Personal guarantees changed that. IBM could choose whether or not the expense was properly documented and the expense was a necessary business expense. I had to pay the bill and expensing was back on me. We had Diners Card and AMEX.