Charge Card

Dabooka

Hi lisyloo,

I agree with you entirely, sorry for the confusion regarding "own money".

no_more_cards_for_me

I've been lucky, my company has no knowledge of my previous financial problems and I already have a card to use. I wouldn't want to put myself in a situation where my history comes into play. Especially as I effectively work for a bank and not being able to manage your money would look pretty poor.

For example an IVA is grounds for instant dismissal.

euronorris

Out of interest Lisyloo, what is your company's policy if they process the expenses too late and you incur interest?

I used to have a company Amex card in the UK and I think I only ever used it about 3 times in total! lol. The company is another large, global firm, and they offered the option of company card, or use your own cc, or your bank account. The choice was yours.

euronorris

no_more_cards_for_me wrote: »

I've been lucky, my company has no knowledge of my previous financial problems and I already have a card to use. I wouldn't want to put myself in a situation where my history comes into play. Especially as I effectively work for a bank and not being able to manage your money would look pretty poor.

For example an IVA is grounds for instant dismissal.

In that case, I really think your best option is to use your existing CC and start saving for an emergency fund.

At the very least it would get you into good habit of saving.

lisyloo

Out of interest Lisyloo, what is your company's policy if they process the expenses too late and you incur interest?

I believe they would pay any genuinely incurred charges/interest.
We have had issues before with foreign currencies and they have always made sure people aren't worse off due to current fluctuations (you could submit an adjsutment).
If people can't submit regular expenses if they are abroad then they have a cash advance (although it's rare not to ahve internet access in this day & age).

This kind of thing works both ways though doesn't it?
My employer allows people to work from home or to flex their hours if it's necessary. They don't clock watch.
This mean you don't have to take a day off to have some repairs at home.
I value this enormously and don't mind now and again putting myself out.
So I think it's a two way relationship.

If the company are insisting without listening to concerns/issues then that's wrong.
But if it's just their general policy then I don't think there's anything wrong with it, provided they take into account any individual issues that are expressed to them.
We did have this discussion when our company cards were withdraw because some people did not want their manager knowing their credit problems (and similarly some managers didn't want to know either).
It all comes down to it being handled sensitively, but it's certainly widespread in the IT industry where I've worked for 20 years.

I think this is more of an issur right NOW when credit is more difficult to get.

euronorris

lisyloo wrote: »

I believe they would pay any genuinely incurred charges/interest.
We have had issues before with foreign currencies and they have always made sure people aren't worse off due to current fluctuations (you could submit an adjsutment).
If people can't submit regular expenses if they are abroad then they have a cash advance (although it's rare not to ahve internet access in this day & age).

This kind of thing works both ways though doesn't it?
My employer allows people to work from home or to flex their hours if it's necessary. They don't clock watch.
This mean you don't have to take a day off to have some repairs at home.
I value this enormously and don't mind now and again putting myself out.
So I think it's a two way relationship.

If the company are insisting without listening to concerns/issues then that's wrong.
But if it's just their general policy then I don't think there's anything wrong with it, provided they take into account any individual issues that are expressed to them.
We did have this discussion when our company cards were withdraw because some people did not want their manager knowing their credit problems (and similarly some managers didn't want to know either).
It all comes down to it being handled sensitively, but it's certainly widespread in the IT industry where I've worked for 20 years.

I think this is more of an issur right NOW when credit is more difficult to get.

Ah well, that's good then.

I have flexi time also here and value it tremendously, so also don't mind putting myself out when needed. Just getting to the post office or bank can prove very difficult and sometimes impossible outside of working hours.

Although, must say that's an improvement on the UK firm. Officially had flexi time, in reality it was so frowned upon (even if you had overtime stacked up to cover it), that I often didn't bother.

You're right. It is a much bigger issue now and I think companies should be sensitive to it.

Unfortunately, due to the industry the OP works in, I don't think they have any sympathies towards his situation.

sulkisu

no_more_cards_for_me wrote: »

Been down that road and they will not supply a card. All has to be done off my own back which is a bit poor really!

That doesn't sound right. What happens if you are one of the hundreds of thousands of people who cannot get a credit/charge card? Do you get fired, face disciplinary action ..?

no_more_cards_for_me

sulkisu wrote: »

That doesn't sound right. What happens if you are one of the hundreds of thousands of people who cannot get a credit/charge card? Do you get fired, face disciplinary action ..?

Yes, in banking any sort of arrangement , IVA, bankrupcy etc would kill the career stone dead. In terms and conditions I've had from several banks then there is a very dim view of employees who cannot manage their money. Once bank would not even allow its employees to have an overdraft.

As I said I'm lucky I've paid off everything I owe, now just got a minimal limit on my barclaycard and a mortgage. The 10 late payments I have on my file will probably hurt me for the next 12 months but I don't need to borrow any money for the forseable future. Hence why I thought a charge card might be a good idea as its for company use, clearly I was wrong.

What I'm not thinking of doing is keeping the Barclaycard for emergency use and getting a prepaid card loaded with £300 or so to run my expenses for each month. That was its ringfenced and I just top up each month with expenses.

Does that sound like a better idea ?

lisyloo

From what you have now said (10 late payments) , I think you will find it difficult to get a credit card and probaby a charge card.

A pre-paid card is different as it offers no credit.
So it would look like you need either a prepaid card or a seperate bank account.