When Your Company Applies For Credit For You
My company has decided to have its employees start using American Express cards for business expenses. The AMEX card will have rewards just like my normal credit card so that isn’t a problem for me.
The problem that I see is that, while I heard this may be happening ahead of time, no other mention or information on credit card terms was given out. I received a letter in the mail over the weekend saying I was approved for this credit card and I simply wasn’t expecting it.
Apparently, my company passed along a whole list of employee names with their social security numbers in lieu of an official application for each person. While the credit cards were arranged through my company, they are 100% in the employees’ names and the responsibility of the employee.
I’m thinking this is not legal but when has that stopped a company from doing something that they want to do with your personal information?
When I check my credit next, I’m going to be looking for a hard inquiry (vs. soft that wouldn’t impact my score), plus the listing of new credit, which could also negatively impact my score.
Stay tuned…
Popularity: 33% [?]
Related Posts:
June 2nd, 2008 at 12:39 pm
How would they have it set up to be paid if it is solely in the employees name? Would you just bring in the bill and submit it as a buisness expense, or is it a refund situation. Either way, that is jacked up.
I am curious to hear how it affects your credit and what the company is willing to do to mitigate any negatives, if anything.
You’d think they would need some kind of consent to using your SSN for any purpose. I imagine this will end up being a rather short lived proposal, assuming, like at most companies, there are some sue happy people. In this case it would be completely warranted though.