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Can Your Employer Apply For A Credit Card In Your Name?

Dec 7, 2007
There are millions of workers in America that have gained employment from businesses that are owned by other business leaders, which basically means that these people work for other entrepreneurs that have started their own business. Many of these companies have been started and established within the last several years and continue to provide many American citizens and immigrants with employment opportunities and contribute to a big part of the United States' employment industry. When you are employed by businesses such as these, there exist several things that are different in the kinds of employment that they offer, the amount of money that is given out, and the types of rules and regulations that have been implemented into each specific system.

The industry of making money through companies has become quite dense and complicated for ordinary people to fully comprehend, even though a large amount of time and diligent study will help someone become well educated on this industry's intricate details. If you do not take careful consideration of all the details of a specific employment opportunity, there is a high chance that the company might take advantage of your finances and skills. Before signing a work contract, you should carefully examine the specifics of the contract and the unique rights that will be given to you as an employee of the company.

For a majority of the instances when workers are negatively used by their own company is through the medium of finances. Employers try to pay the minimum amount of salary with the least amount of benefits that can be allowed. If you are not firm and negotiate strongly for a fair salary and equal benefits, then you will quickly lose a lot of money and much needed protection from insurance bonuses.

There are several cases when this type of thing happens, for example when businesses will attempt to take advantage of their employees is by using their name and information to acquire certain amounts of borrowed money. Sometimes this can be in the form of business loans, but more often this can occur in the form of a company credit card. In many cases, employers apply for a company credit card in your name and put all or at least a part of your information down in order to acquire the card.

This specific scenario is not very safe at all and is a bad scenario for workers who do not know how to properly deal with finances. Allowing an employer to apply for a company credit card in your name can cause negative consequences to your financial history and make you fully responsible for anything that goes wrong with the credit card. For example, if payments are not made on time or even if they are not made at all, you will be held completely responsible for the mistake and your credit history will be negatively impacted.

When an employer takes out a company credit card in your own name, you most likely do not have full control over who uses it and when it is used. A credit card should be completely regulated and controlled by its owner, or whoever has used their name to apply for it.
About the Author
Court is an author and expert on private student loans and unsecured personal loans.
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