2 years, 10 months ago
Should I let my corporate credit card be canceled?
When I was hired 2 years ago I was issued a corporate AMEX credit card. All new hires received them whether they had a use for them or not. My job doesn't really have a need for the card and as a result, it hasn't been used in the past 2 years.
I just received an email from my company stating that due to inactivity, the card will be canceled unless I tell them to keep it activated just for the sake of having the card.
Since I don't really have a need for the card, is there any harm in just letting them cancel it? Is a "Corporate" credit card any different from a "regular" card? Will it dramatically affect my credit score? I believe that the card has a very high credit limit ($100,000+) if that helps you answer.
Many thanks in advance.
I just received an email from my company stating that due to inactivity, the card will be canceled unless I tell them to keep it activated just for the sake of having the card.
Since I don't really have a need for the card, is there any harm in just letting them cancel it? Is a "Corporate" credit card any different from a "regular" card? Will it dramatically affect my credit score? I believe that the card has a very high credit limit ($100,000+) if that helps you answer.
Many thanks in advance.
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M$1 Answer
Let them cancel it. It's just like a regular card and you are responsible for any liability arising from having it. What makes it corporate is that it is just easier to bill your company. There's no credit enhancement whatsoever to you personally from the card and if it's an AMEX you'll have to start paying the annual fee (which presumably you would have billed to the company).
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