Charge Card

no_more_cards_for_me

Apart from Amex does anybody do a charge card at the moment ?

Having to settle the balance at the end of each month might help me keep my spending under control better than a CC.

I suppose that they all charge a fee for the card otherwise they can't make money ?

Just looking at options for next year at the moment

Thanks

cifpower

Diners is the only other one I know of and that charges a fee too

Dabooka

You'd be just as good sticking with your debit card to be honest. But I'm unsure of any other charge cards to answer your question.

no_more_cards_for_me

My plan was to keep my barclaycard with a £1000 limit for emergenicies.

The chargecard could then be used for petrol, lunches and travel which I can then claim on expenses.

I'm about to close my single NW account and just keep the family joint account which pays bills, mortgage etc.

I'l like to keep the work expenditure seperate and have an emergency fund if needed.

Dabooka

That's easy, just open up a second account and use that one for expenses claims. You can easily transfer your expenses money across each month when you get paid. It'll not be liable to fees, and it'll be accepted pretty much everywhere.

euronorris

I agree with Dabooka.

A charge card would be pretty risky in this case as you say you want to get your spending under control. What happens if you overspend and then you don't have enough money to clear the balance?

I think you should use the option Dabooka suggested and work on getting your spending under control. Then, in the future, you can re-evaluate the situation and decide if you still need one. I think you will find it is not necessary.

no_more_cards_for_me

euronorris wrote: »

I agree with Dabooka.

A charge card would be pretty risky in this case as you say you want to get your spending under control. What happens if you overspend and then you don't have enough money to clear the balance?

I think you should use the option Dabooka suggested and work on getting our spending under control. Then, in the future, you can re-evaluate the situation and decide if you still need one. I think you will find it is not necessary.

Thanks but the company would be paying for any expenditure on the card and I won't be using it for any non-company related expense. I'd still be left with the charge however

Looks like a 2nd CC would be a better choice - perhaps one with cashback ?

hippey

What about a cashback cc with a full payment direct debit? It's just as good as a charge card and safer than a debit card.

If your really concerned about overspending then just use cash as even with debit cards you could still easily overspend.

euronorris

no_more_cards_for_me wrote: »

Having to settle the balance at the end of each month might help me keep my spending under control better than a CC.

I'm confused. If you're not planning to use the card for anything other than work related expenses, then what is the above comment about?

I really don't think a CC is necessary. Having a separate bank account would be a much better option (IMO).

Why are you looking for a charge card or credit card in particular?

Dabooka

Sorry, I'm a bit confused. Are your company asking you to obtain an account solely for work purposes and then clear it in full? If that's the case they should either give you a company CC otherwise you should be submitting expenses retrospecively as is usual.

I honestly think getting a second account makes sense rather than a charge/credit card. As Euronorris points out, if you are still unsure about your spending you could leave yourself exposed and it'll be showing against you on your credit report (incidently, will your report allow you a second card? is it all fine and dandy?).

Lastly, the cashback deals are a bit useless unless your looking at spending about £3k+ a year minimum on it. And I believe that's with Amex too.

no_more_cards_for_me

I've not been good with cards in the past, too much spending!

I thought that if a got a charge card or credit card with a sensible limit then I could just use that for company expenses. Has to be settled off each month.

Looking at the responses maybe I will just stick with the barclaycard for work and start saving for emergencies with a seperate account. I want to try and keep the number of sources of credit I have to a minimum but was thinking that having two cards might be useful if one were ever refused.

But then why would it ever be refused ?