Business Credit Cards & Your Personal FICO Score

There are situations where your employer pays your business credit card bills, but what happens if your employer makes late payments? How does this affect your personal FICO score? As you probably know, a few late payments can adversely affect your credit score. It’s one thing if you’re the one making the late payments. When it’s out of your control, then what?

According to Fair Isaac Corporation (FICO), late payments on your company issued credit card can adversely affect your credit score in the same way late payments on personal credit cards can. It all depends on whether or not the credit card issuer required personal information to apply for and get approval for the corporate credit card.

As you should be pulling and monitoring your credit reports once or twice a year anyway, be sure to check for the corporate card on your credit reports. If the corporate credit card is listed as one of your accounts on your credit reports, then late payments are being reported, which means your credit score may be in harm’s way. If the corporate credit card is not listed, then the activity for this card is NOT being reported to the credit agencies on a monthly basis.