Spending 15k a month

InsideInsurance

Given your CCJ then you are unlikely to get anything in the prime market which is where the best promotions are.

Some company cards, eg AmEx, do allow the employee to get some of the benefits of the card but its unlikely to be as much as if its a personal card.

If you had a clear record then you'd look at something like the AmEx Gold Preferred Rewards Card or a cashback card depending on if you are interested in airmiles/ etc or not. Certainly in my days of very heavy travel I was spending close to what you are and the points earned would nicely upgrade our personal travel to Business or Upper class etc

Poppops

Anonmagee wrote: »

So. I earn 2100net PCM.

I have an unusual job, I pay for a multitude of work related things and I'm then reimbursed as often as I like.

I regularly spend £15k pcm and I'm then reimbursed. This year there was a month where I spent 34k in 1 month.

I put all of this through my current account, which is in credit, through Barclays.
I have a capital 1card with. £450 limit. I rarely use it. I don't even know the pin, just use it for contactless payments occasionally.

I have a ccj paid off 4 years ago.
No mortgage yet, I'm considering one on the otherside of this forum.
No other debts.


So my questions:

Are there any credit cards I should be using? I'm guessing cash back would be wisest?

Is there a certain type of card which has larger limits? I.e 15k?
I assume on a net salary of £2100 one that large is impossible?

Is there a way I can get a card in my name paid for by my boss. I have heard the term charge cards used before but I don't know what that means!

Any other advise/questions welcome :money:
Excuse my ignorance please :-)

Lots of companies reimburse expenses of course if they don't offer company credit cards but I've never heard of a situation like yours.

If you left your job, and your boss needed a replacement, would he seriously be expecting someone to have spare cash of up to £34k lying around?

Obviously as you don't detail the nature of the business it is difficult to say but if it were me I would suspect he has either working capital shortfall or would worry I was taking on his risk. What if he can't pay you back in time for some reason? Or the goods you buy are defective? You would retain title until he 'buys' them off you. It seems crazy to me.

Get him to get you a credit card and put the risk back onto him.

iAMaLONDONER

Poppops wrote: »

Lots of companies reimburse expenses of course if they don't offer company credit cards but I've never heard of a situation like yours.

If you left your job, and your boss needed a replacement, would he seriously be expecting someone to have spare cash of up to £34k lying around?

Obviously as you don't detail the nature of the business it is difficult to say but if it were me I would suspect he has either working capital shortfall or would worry I was taking on his risk. What if he can't pay you back in time for some reason? Or the goods you buy are defective? You would retain title until he 'buys' them off you. It seems crazy to me.

Get him to get you a credit card and put the risk back onto him.

I agree especially when you're asked to buy service/goods that are over 15 times your pay!

planteria

if you take advice to improve your file, the level of spending you are doing could be harnessed to generate some serious cashback/points.

i use Amex Cashback backed by CapOne Elite...as i favour cashback. but you will need to have a score good enough to get them. i would start by using the CapOne card as much as you possibly can, thereby building up a history with them.

perhaps Tesco Clubcard Credit Card would be useful? some serious free groceries :T

jonesMUFCforever

My suspicions here - the boss is avoiding a large turnover on his/her business account and saving a lot of money in bank charges.
Ultimately OP's bank may ask where all this money is coming from - his account may be ''chosen'' for ML checks.

Anonmagee

planteria wrote: »

if you take advice to improve your file, the level of spending you are doing could be harnessed to generate some serious cashback/points.

Annoyingly I only recently got a nectar card. In 6months I have managed to wrack up about £75 in nectar points.

I have this app on my phone called stocard which I'm gradually filling up as I get more and more engrossed by this MSE website.

If I have started using nectar etc etc 5 years ago I could retire already haha

Annoyingly with a ccj from my younger years, it's dramatically impeding me now. Without the ccj, by now if I had been working on building up my credit score I dare say I'd be earning hundreds more a month in cash back via Amex and other cash back schemes.

What's worse is the ccj was for something silly like £700. Today I'd pay a few thousand to have that scrubbed from by record if i could

I think I read on here not to use more than 50% of my available credit. What's people opinions on that?

CKhalvashi

If you send copies of your bank statements to AmEx, they may accept following an automatic (online) decline.

This was how I got my first AmEx card a number of years ago.

Armorica

I'm amazed this hasn't been flagged up by your bank as money laundering already. Most companies operating legally don't operate through the current accounts of their employees.

As others have said, a company credit card is the way to go - it is issued in your name and paid for/assessed in relation to your employer.

msallen

Amex are often more relaxed with their charge cards than their credit cards, so you _may_ be able to get a Preferred Rewards Gold. This is fee free for the first year, and by the time you've had it (and run it correctly) for 12 months they would give you a credit card. This would earn you points rather than cashback, but you can get a lot of value from them if used wisely.

catwoman73

I wouldn't take the risk of that level of expenses, no matter what the cash back reward TBH.

What if your company goes bust (this can be very sudden) when you are owed a lot of money?

You will be at the back of a very long list of creditors and will get little or none of the money back.

I know you say it's an unusual job, but it's not normal to ask employees to facilitate business cash flow in this way.