Credit Card Help For Work

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Hi

I work away a lot and use a lot of petrol. Usually I pay for the petrol myself and then claim it back but this is starting to put a strain on my bank balance (it takes a while for the money to come back in my account - which then I have to pay again for more petrol).

I was thinking would it be easier to get a credit card to pay for the petrol? I can then claim back the money and then instantly pay off the credit card. I know I won't use the credit card for anything else.

Cheers in advance, I'm not the most clued up with credit cards so please bare with me

cheers
«13

Comments

  • costaerer
    costaerer Posts: 648 Forumite
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    definately. and try and get a card that gives you cashback or airmiles!
  • xyellowx
    xyellowx Posts: 570 Forumite
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    would not advise you to pay for fuel yourself for work
    why cant work provide you with a fuel card or works credit card?
    think what would happen if the company goes bump you will be left with a big credit card balance which you would have to pay off
  • lisyloo
    lisyloo Posts: 29,631 Forumite
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    why cant work provide you with a fuel card or works credit card?

    It's very common in some industies to be asked to pay your expenses up front and claim back.
    It's very difficult in this climate to make demands although a good employer will always listen to suggestions.

    My employer won't provide credit cards because it cost them an admin person to reconcile the statements against expense claims.
    I do however have a cash advance at 0%, so there might be solutions our employer might find acceptable.
    However if the practice is widespread and no-one else complains then you have to think of the consequences of making a big fuss, so make sure you approach it positively and provide some suggestions/ideas that might work for your employer.
    Unfortunately in this recession, employees are in no posisition to make demands.
  • costaerer
    costaerer Posts: 648 Forumite
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    xyellowx wrote: »
    would not advise you to pay for fuel yourself for work
    why cant work provide you with a fuel card or works credit card?
    think what would happen if the company goes bump you will be left with a big credit card balance which you would have to pay off


    what happens if she lays out for it all, then the company goes bump and she has no money to pay her mortgage.

    !!!! :D:D
  • lisyloo
    lisyloo Posts: 29,631 Forumite
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    edited 16 July 2010 at 11:57AM
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    what happens if she lays out for it all, then the company goes bump and she has no money to pay her mortgage.
    The answer to your question is that if the company goes bust you LOSE your expenses.
    I know this as I have been through a liquidation before.
    Redunancy is covered at statutory level by the DTI (department of trade & industry) and so is back pay and holiday but NOT expenses.
    You become a creditor but because the liquidator, bank and taxman are first in line, then rarely would you get anything.

    However if she has been working she really ought to have some form of emergency fund for covering

    car breakdown
    car accident (excess etc.)
    boiler breakdown
    roof issue
    etc. etc.

    It's very bad planning to have no back up funds whatsoever.

    If the OP is uncomfortable with this situation they should discuss it with their employer, but again I would encourage them to come up with positive suggestions that would also suit the employer.
    A lot of employers are struggling in this recession and to make your self a "pain in the bum" when the employer might be deciding who to make redundant is a bad plan.
    Discuss the concerns but also CONSIDER THEIRS.
    They mght not want or be able to afford to employ someone to manage credit cards and statements/expenses but if they are a cash rich company they might be able to provide say a £500 cash advance at 0% to help cover this. So you need to find a solution that also meets their concerns. So discuss and find out their concerns and then offer a solution that meets the needs of both parties.
    When my company stopped cards I got a cash advance.
    I currently have it offset against my mortgage so I make a little from it.
  • costaerer
    costaerer Posts: 648 Forumite
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    are we thinking far too much into this?

    at the end of the day if it is impacting on her using her own cash to lay out for work expenses, then get a credit card!
  • lisyloo
    lisyloo Posts: 29,631 Forumite
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    Possibly.

    A credit card sort out the "cash flow" situation.
    But you are correct to point out that she is still liable to pay if the employer goes bust, whether it's on a card or not.

    Might not be an issue for the OP though.
    They might be quite happy with the stability of their employer.

    It was an issue for me, but then I had already lost money when my employer went bust, so i's understandable as it was a case of "once bitten".
    If we are only talking petrol then it's not huge sums.
    If you are doing international flights/hotels then it can run into 4 figures in some cases.
    Most companies have some sort of arrangements for this.
  • costaerer
    costaerer Posts: 648 Forumite
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    if OP gets expensives reimbursed on a monthly basis it means EVEN IF something goes wrong she will only have 1 month of expenses to pay for........
  • [Deleted User]
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    I use to get through about 300 quid a week on expenses.. it was nice getting the play.com points from my Play.com Visa card.

    If your work is paying your expenses back it's very MSE to use a cashback credit card. I also used Quidco and got hotel points.. i think i was ending up with about 8% cashback in total!
  • lisyloo
    lisyloo Posts: 29,631 Forumite
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    Correct (you raised this issue BTW :-)

    Easiest way is to get a credit card either look to maximise
    1) cashback
    2) rewards if you are collecting them eleewhere e.g. airmiles
    3) max interest free days

    If cashflow is the major concern then it would be best to maximise interest free days.
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