Workers warned about company credit card debt

September 6, 2010 2:05:47 PM PDT
On this Labor Day, many workers may want to check out their company credit cards.Last year, employees charged $140 billion, but what happens if your company goes under, and if your employer doesn't pay? The card company could come after you for the balance.

According to RPMG research, 35 percent of corporate cards have individual or joint liability arrangements where the employee is responsible for the debt. Also large companies are the most likely to make their employees personally liable for their company cards.

"This is just so destructive to individuals like myself that had no idea that this could, that this could happen," said Charles Heiges, a corporate card customer.

Signs that you may be personally responsible for your corporate card debt:

  • if the card shows up on your credit report
  • if you are required to pay the bill yourself and then get reimbursed
  • if you provided personal financial information to get the card


    Load Comments