Business Late Pays

Dear Dave,

My company makes me use my personal credit card for overseas travel. They take care of my expenses, but sometimes they don’t send the money until after the payment is due. Does this affect my credit score?

Marshall

Dear Marshall,

Unless you pay on time instead of waiting for their money, you bet it affects your credit score! It’s your card! You signed for it, and it’s in your name. Every late payment affects your credit bureau score.

I don’t know who you work for, but this is a very dangerous and bad practice – both by you and your company. Your company is using your credit and abusing you in the process. One of these days they’re not going to pay you, and then you’ll have a mess on your hands!

Talk to them about furnishing you with a corporate card. Better yet, a corporate debit card! If your employer is going to send you overseas, or anywhere on the road, it shouldn’t cost you money or cause you problems.

- Dave