Work expenses / Credit card

RMS2

almost_there wrote: »

I would personally bite your firms arm off to get a company credit card

This saves you using your own cash and makes them responsible for payments etc and isn't logged on your credit history

This isn't actually true. There are a few business accounts out there, where the company will use something like business Barclay card and sometimes this is paid in full by the company and you submit your expenses to show your expenditure. They are few and far between no and generally kept for more senior staff.


The vast majority of companies will issue something like a company Amex. This is where you are responsible for paying the card and the upkeep of the account. The only benefit of the company, is that they make sure you're not restricted to some silly credit limit, so you can actually pay for things.


But you are liable, you sign the agreement, you are jointly severally liable for the bill. It is you they write snotty letters to, even if you've left paying late because your company has been late with the expenses run. This is usually followed by a letter/call to HR which then comes down through your line manager. It will be your credit file that is affected.


Not only that, but if your company were to go bust (like say, City Link) Amex can chase you for the debt even if it was company debt. Also your company can see all spending, so if you are filling up on the way home and decide you've had a hard day and pick up a bottle of wine, they can see that.


There isn't much benefit to having a company card these days, which is why they're kept in the wallet for an emergency or some massive spend and nearly all my colleagues at my old company (dozens of us with Amex) never used the Amex and used their own cards.


Beware, it's a bit like working at home, you have to be disciplined, make sure you have your exes in on time and don't let the company use you as a personal cash float.

redpete

RMS2 wrote: »

This isn't actually always true. There are a few business accounts out there, where the company will use something like business Barclay card and sometimes this is paid in full by the company and you submit your expenses to show your expenditure. They are few and far between no and generally kept for more senior staff.

Corrected for you in bold. Our company issues credit cards that are as originally described - paid off by the company with expenses claimed against this by employees in the normal way. They encourage everyone who regularly incurs expenses to use these, primarily I expect because the company gets a decent amount of cashback from the issuer.

Also your company can see all spending, so if you are filling up on the way home and decide you've had a hard day and pick up a bottle of wine, they can see that.

Why is that a problem, unless you are trying to get the company to pay for the bottle of wine as part of the fuel expense claim?

RMS2

redpete wrote: »

, primarily I expect because the company gets a decent amount of cashback from the issuer.

Why is that a problem, unless you are trying to get the company to pay for the bottle of wine as part of the fuel expense claim?

Absolute rubbish, they provide a service and don't pay cash back. Speak to your HR dept. if you need confirmation.


My purchases are my business. I don't really want to pull two cards out to make two separate purchases at the till, but I also don't want the HR dept. nosing at what I purchase.

redpete

RMS2 wrote: »

Absolute rubbish, they provide a service and don't pay cash back. Speak to your HR dept. if you need confirmation.

It seems "rebate" is the term used in the corporate world rather than "cash back" but our company's procurement people gave it as a benefit of the scheme our company uses. Also see the following direct quote from a Mastercard brochure on corporate credit cards:

Savings Through Card Rebates
It is customary in commercial agreements with larger clients that the
corporate card issuer pays a spend-based rebate.

My purchases are my business. I don't really want to pull two cards out to make two separate purchases at the till, but I also don't want the HR dept. nosing at what I purchase.

In the vast majority of cases the only expense on my company card transactions are business-related. Even if I did have mixed spend then I would have to provide the receipt (showing what I'd bought) in order to claim the business-related portion whether I used the corporate card or a personal one, or claim it without a receipt which would need to be justified.