Work expenses on card

44 Posts
Hi,
My job requires that I pay for some expenses which I claim back at the end of the month. These are usually between £250 - £400 Per month. I can't really afford to pay this up front anymore. I don't qualify for a corporate card.
I have started to use my Tesco card for this, but as I'm a bit new to credit card I don't really understand the billing cycle.
What I would like is to do is pay for only my expenses on my card, then use my expenses in my pay check to pay that off.
I get paid on the 21, and get my expenses a month in arrears (so expenses for 1-30 Sep get paid on 21 Oct).
My card cut off is the 18th, and the pay date is the 7. So anything I buy before the 18th has to be paid for before I get the expenses back.
Is there any way I can work this bettr or do I need another card?
Thanks
Edit: I've posted this in the wrong forum, I ment to post it in the main Credit card Forum.
My job requires that I pay for some expenses which I claim back at the end of the month. These are usually between £250 - £400 Per month. I can't really afford to pay this up front anymore. I don't qualify for a corporate card.
I have started to use my Tesco card for this, but as I'm a bit new to credit card I don't really understand the billing cycle.
What I would like is to do is pay for only my expenses on my card, then use my expenses in my pay check to pay that off.
I get paid on the 21, and get my expenses a month in arrears (so expenses for 1-30 Sep get paid on 21 Oct).
My card cut off is the 18th, and the pay date is the 7. So anything I buy before the 18th has to be paid for before I get the expenses back.
Is there any way I can work this bettr or do I need another card?
Thanks
Edit: I've posted this in the wrong forum, I ment to post it in the main Credit card Forum.
0
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This would mean you'd only have to find a 2-3% minimum payment each month...and you'd also make a little interest on the side by 'saving' your expenses when they're reimbursed.
(I have to pay for a lot of expenses and then claim them back, but our claims are processed every two weeks and paid three days later...a lot more than £400, but still!)
Firstly though I'd ask your employer if they do travel/expense advances/interest free loans. Each company I've worked for does, *but* you have to ask, it would never be offered :rolleyes:
You could also try asking your company for a £200 - £250 float.
you can then mix or matxh the other solutions in the fashion that makes you most - a high % cashback card sounds best even 1% is £5 a month
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I might need to borrow some money next year, and I'm thinking of using a cheap credit card to borrow on. So it would be useful to have cash sitting in an account that is from a credit card so I can use cash and transfer the balence to whatever card I use to borrow. If you get what I'm saying!
However, there are a couple of benefits to slow stoozing...
1. It may help with cashflow issues (borrow from the pot for example, rather than elsewhere), and
2. It may be possible to bag a fast stooz card deal (eg the recent Virgin 9 month fee-free deal) towards the end of the purchases intro period, meaning the debt can be kept 'in the air' and more interest earned.
That just leaves the question...where are you going to get a 1% cashback card without an annual fee (Egg Money), capped spend (Barclaycard), or short intro period (Amex Platinum 5%) constraint?
* Calculators:
Cashback
Slow stooz
Still got my Cap1 1% on everything and Hx 2% on fuel/groceries cards
(but yes, as you say it's a close call so it's purely down to what works individually. I just prefer to keep the business claims in line without too much complexity)
I wouldn't.
...bankroll my employer that is.
What would they do if the OP's personal credit rating was such (s)he couldn't obtain a credit card?
There'd be a corporate card in the next post, I'm sure.