6 ms·

Ughh, almost every card for individuals with good credit is better than that [1]. Unless you mean strictly among corporate cards? [1] https://www.nerdwallet.co

Ughh, almost every card for individuals with good credit is better than that [1]. Unless you mean strictly among corporate cards? [1] https://www.nerdwallet.com/best/credit-cards/cash-back https://www.nerdwallet.com/best/credit-cards/cash-back

privateSFacct 7y ago
Do these cards require a personal guarantee? Do they require personal social security number? Can they be ordered in bulk (ie, 5-10 at a time when onboarding folks). Not to be rude, but the corporate card market is different than the personal card market in a number of ways.
- myalphabet 7y ago
  Wait, how do these cards work, then? The corporate cards I've used (eg AmEx Corporate) did indeed require a personal guarantee and a personal social security number from each individual who had an account.
  - ceejayoz 7y ago
    https://stripe.com/docs/corporate-card/faqs https://stripe.com/docs/corporate-card/faqs > Am I personally liable for purchases made on the card? > No. Only your business is liable for purchases made on the card.
  - sudhirj 7y ago
    That seems really odd. The employees who have these cards are often expected to spend multiple times their yearly salary on company business. Personal guarantees simply wouldn’t work.
    - Aeolun 7y ago
      It’s certainly the case for my company card. I wouldn’t be able to pay off the cost faster than I add new expenses.
    - nirvdrum 7y ago
      The last place I was at did it that way. I imagine it was to incentive early expense reports, otherwise you were stuck paying the bill. Also protects the employer if the expense isn't legitimate. But, it was pretty stressful as an employee.
  - tempsy 7y ago
    American Express has both "Business" and "Corporate Business Cards." The "Business" ones require a personal guarantee. For some color, I've signed up for multiple Amex Business cards in the past as a "sole proprietor" even though I was really just churning the cards for the rewards. You just input your SSN for the EIN. The Corporate Amex cards don't require a personal guarantee.
    - myalphabet 7y ago
      The AmEx card I used was 100% a Corporate card (not a Business card) and definitely did require a personal guarantee. edit: After some searching, it appears AmEx offers corporate cards both with and without personal guarantees, and it's up to the company to decide which they want to do. In my case, at one of the largest consulting companies in the world, they required personal guarantees.
      - tempsy 7y ago
        Who is the guarantor? The employee? That seems like a very shady thing to do given every expense put on that card is for work.
        myalphabet 7y ago
        Yes, the employee. Why do you think it's shady? In my years of working in and around people with the same setup I've never heard of any complaints, and I know most of the other large consulting companies do it the same way. AFAIK the thought behind it is that not every expense on the card is for work - as a consultant, I travel every week and I put all kinds of expenses on the card (not all of which are strictly "for work" or allowed to be reimbursed by the company). This way, my company still pays the bill for whatever expenses I mark as reimbursable, but the company doesn't have to worry about being on the hook for when I use my card to buy a pair of pants. To me, it's basically the same as having a personal CC and my company reimburses me for the expenses - except in this case, it's a lot easier for my company to pay part of the bill directly (instead of me being an intermediary) and I also don't have to worry about hitting a credit limit.
  - privateSFacct 7y ago
    I learned something! I had no idea Amex did a guarantee. I routinely order multiple employee cards with nothing more than employee names. Sometimes they use last 4 digits or DOB to allow employee to authenticate for online access - you can use any 4 digits though you want (ie, employee ID works fine). No personal guarantee. Oddly, I'd never heard of a corporate card requiring an employee guarantee though I guess Amex is one of them. This stripe card is a corporate card in the "normal" sense for me - no personal guarantee. This makes getting them (usually) very easy, just upload a list of 20 names and the cards come. I even do things like "Office Manager" for the name on non-stripe cards - works fine.
    - myalphabet 7y ago
      That is interesting. I've only used AmEx Corp cards with a personal guarantee and wasn't aware there was any other way. For anyone else who stumbles across this comment: AmEx offers Corporate cards both with or without a personal guarantee, depending on what the company wants to do. And (also mentioned farther down in this thread) they also give the option to give the card rewards to each individual employee cardholder, or give all the rewards to the business, again depending on what the company chooses.
      - 4ntonius8lock 7y ago
        I could be wrong on this, and someone more knowledgeable feel free to correct, but the way I understand it is: When you start a corporation with no history, any credit obtained is obtained through the founders personal credit history, with all the liability that entails. When the corporation reaches a certain point of maturity, the corporation starts having it's own 'credit' and non-personally backed credit lines can be obtained. I'm ignorant as to the variables used to determine 'maturity' (though processing volume and tax history are probably two, since I know you can get a corporate credit line backed by outstanding accounts receivable alone) This is for a DE corporation and I'm a California resident.
        myalphabet 7y ago
        The company I have experience with using personally-backed corporate cards has been around for a century, has hundreds of thousands of employees, and billions of yearly profits. While I'm sure that your comment is true, 'maturity' is definitely not the only deciding factor in personally-backed vs company-backed cards.
  - tialaramex 7y ago
    I have only had an Amex decades ago, but it was issued when I was too young to drink in the US. Maybe eighteen? Could have been nineteen. Something around that age. The company decided to send me to the US and somebody went "Oh, this kid should have a card so we can sort out expenses that way" and they ordered me an Amex. I never signed anything to my knowledge, just a corporate Amex arrived for me in internal mail. In fact it wasn't even delivered until after I arrived in the US. At check-in (to the hotel, not the airport) my boss had fax'd them a picture of her Amex card and that was good enough for them. When she flew in a few days later I tried to meet her in the bar, and that's when I found out my first crazy thing about America - I wasn't allowed in the bar. Very different times. But I'd be surprised if Amex now cares about exactly who the people are its corporate customers want cards for. Why would they? These cards aren't for you to use as personal payment cards, they're your employer's card and you're just authorised to use it for work.
    - dontbenebby 7y ago
      >she flew in a few days later I tried to meet her in the bar, and that's when I found out my first crazy thing about America - I wasn't allowed in the bar. It's usually based on receipts, and certain bars that are majority alcohol 21+, a restaurant that happens to serve drinks is any age. Pub type places really can vary depending on the state/county/city/township. But yeah exclusively alcohol bars will almost always be 21+. I'm surprised this is surprising, I saw several 21 or even 25+ bars in Europe. But they were mostly aimed at turning away groups of rowdy backpackers, if you went in for a quiet pint nobody pressed if you were 22 or 20.
  - deepGem 7y ago
    From Stripe's corporate card page "All you need to sign up is a Stripe account—no paperwork or personal guarantee required. Get up and running with a virtual card in minutes."
astura 7y ago
Um the GP is talking about credit card purchases for their business, not their personal expenses.

privateSFacct 7y ago

Do these cards require a personal guarantee? Do they require personal social security number? Can they be ordered in bulk (ie, 5-10 at a time when onboarding folks). Not to be rude, but the corporate card market is different than the personal card market in a number of ways.

myalphabet 7y ago
Wait, how do these cards work, then? The corporate cards I've used (eg AmEx Corporate) did indeed require a personal guarantee and a personal social security number from each individual who had an account.
- ceejayoz 7y ago
  https://stripe.com/docs/corporate-card/faqs https://stripe.com/docs/corporate-card/faqs > Am I personally liable for purchases made on the card? > No. Only your business is liable for purchases made on the card.
- sudhirj 7y ago
  That seems really odd. The employees who have these cards are often expected to spend multiple times their yearly salary on company business. Personal guarantees simply wouldn’t work.
  - Aeolun 7y ago
    It’s certainly the case for my company card. I wouldn’t be able to pay off the cost faster than I add new expenses.
  - nirvdrum 7y ago
    The last place I was at did it that way. I imagine it was to incentive early expense reports, otherwise you were stuck paying the bill. Also protects the employer if the expense isn't legitimate. But, it was pretty stressful as an employee.
- tempsy 7y ago
  American Express has both "Business" and "Corporate Business Cards." The "Business" ones require a personal guarantee. For some color, I've signed up for multiple Amex Business cards in the past as a "sole proprietor" even though I was really just churning the cards for the rewards. You just input your SSN for the EIN. The Corporate Amex cards don't require a personal guarantee.
  - myalphabet 7y ago
    The AmEx card I used was 100% a Corporate card (not a Business card) and definitely did require a personal guarantee. edit: After some searching, it appears AmEx offers corporate cards both with and without personal guarantees, and it's up to the company to decide which they want to do. In my case, at one of the largest consulting companies in the world, they required personal guarantees.
    - tempsy 7y ago
      Who is the guarantor? The employee? That seems like a very shady thing to do given every expense put on that card is for work.
      - myalphabet 7y ago
        Yes, the employee. Why do you think it's shady? In my years of working in and around people with the same setup I've never heard of any complaints, and I know most of the other large consulting companies do it the same way. AFAIK the thought behind it is that not every expense on the card is for work - as a consultant, I travel every week and I put all kinds of expenses on the card (not all of which are strictly "for work" or allowed to be reimbursed by the company). This way, my company still pays the bill for whatever expenses I mark as reimbursable, but the company doesn't have to worry about being on the hook for when I use my card to buy a pair of pants. To me, it's basically the same as having a personal CC and my company reimburses me for the expenses - except in this case, it's a lot easier for my company to pay part of the bill directly (instead of me being an intermediary) and I also don't have to worry about hitting a credit limit.
- privateSFacct 7y ago
  I learned something! I had no idea Amex did a guarantee. I routinely order multiple employee cards with nothing more than employee names. Sometimes they use last 4 digits or DOB to allow employee to authenticate for online access - you can use any 4 digits though you want (ie, employee ID works fine). No personal guarantee. Oddly, I'd never heard of a corporate card requiring an employee guarantee though I guess Amex is one of them. This stripe card is a corporate card in the "normal" sense for me - no personal guarantee. This makes getting them (usually) very easy, just upload a list of 20 names and the cards come. I even do things like "Office Manager" for the name on non-stripe cards - works fine.
  - myalphabet 7y ago
    That is interesting. I've only used AmEx Corp cards with a personal guarantee and wasn't aware there was any other way. For anyone else who stumbles across this comment: AmEx offers Corporate cards both with or without a personal guarantee, depending on what the company wants to do. And (also mentioned farther down in this thread) they also give the option to give the card rewards to each individual employee cardholder, or give all the rewards to the business, again depending on what the company chooses.
    - 4ntonius8lock 7y ago
      I could be wrong on this, and someone more knowledgeable feel free to correct, but the way I understand it is: When you start a corporation with no history, any credit obtained is obtained through the founders personal credit history, with all the liability that entails. When the corporation reaches a certain point of maturity, the corporation starts having it's own 'credit' and non-personally backed credit lines can be obtained. I'm ignorant as to the variables used to determine 'maturity' (though processing volume and tax history are probably two, since I know you can get a corporate credit line backed by outstanding accounts receivable alone) This is for a DE corporation and I'm a California resident.
      - myalphabet 7y ago
        The company I have experience with using personally-backed corporate cards has been around for a century, has hundreds of thousands of employees, and billions of yearly profits. While I'm sure that your comment is true, 'maturity' is definitely not the only deciding factor in personally-backed vs company-backed cards.
- tialaramex 7y ago
  I have only had an Amex decades ago, but it was issued when I was too young to drink in the US. Maybe eighteen? Could have been nineteen. Something around that age. The company decided to send me to the US and somebody went "Oh, this kid should have a card so we can sort out expenses that way" and they ordered me an Amex. I never signed anything to my knowledge, just a corporate Amex arrived for me in internal mail. In fact it wasn't even delivered until after I arrived in the US. At check-in (to the hotel, not the airport) my boss had fax'd them a picture of her Amex card and that was good enough for them. When she flew in a few days later I tried to meet her in the bar, and that's when I found out my first crazy thing about America - I wasn't allowed in the bar. Very different times. But I'd be surprised if Amex now cares about exactly who the people are its corporate customers want cards for. Why would they? These cards aren't for you to use as personal payment cards, they're your employer's card and you're just authorised to use it for work.
  - dontbenebby 7y ago
    >she flew in a few days later I tried to meet her in the bar, and that's when I found out my first crazy thing about America - I wasn't allowed in the bar. It's usually based on receipts, and certain bars that are majority alcohol 21+, a restaurant that happens to serve drinks is any age. Pub type places really can vary depending on the state/county/city/township. But yeah exclusively alcohol bars will almost always be 21+. I'm surprised this is surprising, I saw several 21 or even 25+ bars in Europe. But they were mostly aimed at turning away groups of rowdy backpackers, if you went in for a quiet pint nobody pressed if you were 22 or 20.
- deepGem 7y ago
  From Stripe's corporate card page "All you need to sign up is a Stripe account—no paperwork or personal guarantee required. Get up and running with a virtual card in minutes."

astura 7y ago

Um the GP is talking about credit card purchases for their business, not their personal expenses.