The essentials about Phantom Company Credit Cards

            Finance enthusiasts have recently added Phantom Company Credit Cards to their dictionary

Ø  The interest around Phantom Company Credit Cards has aroused after Spain’s two struggling Banks - Caja Madrid and Bankia used innovative methods to use them

Ø  The above two Spanish Banks used the Phantom Company Credit Cards to enable high level executives to spend at their whim

Ø  In theory the Company credit cards were for business purposes only

Ø  In real life, actuality, executive took a generous view of what constituted a professional expenditure.  Many of the uses seem to be connected to private or weekend trips

Ø  The earliest set of Phantom Company Credit Cards were issued way back in 1996

Ø  The Phantom Company Credit Cards were handed out and managed separately from the other routine corporate credit cards

Ø  Investigation is still going in the depth of the Phantom Company Credit Cards scandal. As is the norm, the involved executives have pleaded non-guilty

Ø  The term Phantom is used here as the Phantom Company Credit Cards were issued to chauffeurs at Caja Madrid and Bankia in their own name so they could make purchases on behalf of executives and board members