Originally Posted by
emanon256
I guess I am lucky. I have a corporate charge card that has no limit. Since it's charge instead of credit it has to be paid in full each month. The pitfall is that if it's paid late it gets a late fee and dings my credit. The charges show up automatically in my expense report and my employer pays the card directly. But twice they have paid late forceing me to pay myself so I don't get dinged. Then when they pay I have a credit that I have to figure out how to use. Really annoyying becuase I end up spending money on stuff I don't need just to get rid of the credit.
Emanon - credit is not actually late until after it is 31 days late. What this means is if the payment due date for a card is the 15th day of every month, then that payment cannot be reported late until the 16th or 17th of the following month. For example, if a payment is due on November 15, yes, there might be a late fee due if not paid until November 18th, but as long as that payment is made prior to December 16th, then that account cannot be reported as late to the credit reporting agencies. Any late fees would be paid by the responsible party, meaning your employer, the corporate cardholder, and there would be no "dings" to your credit. For your own peace of mind, you should call that card issuing bank to confirm this information.