Best way to borrow every month

scratchyrat

In short, I need to run up some expenses for work that will come to about £1200 a month, give or take £100. This will be month in, month out for the next 3 years.

I will get this money reimbursed fairly quickly at month end, but I'm struggling to figure out how I can actually get the cash in the first place. I don't have that much spare money to hand.

I considered applying for a money transfer card, but reading the T&C's before I applied (yes, I'm that person) I realised I could only do the transfer in the first 60 days and I'd then have 28 months to pay it back. This isn't what I want as I need to basically do this and pay it back in full each month.

Is there a credit card out there I can do this with, or is there a better way for me to effectively borrow and pay back over £1000 ever month?

easy

In your shoes I would be asking my employer to either provide me with a company credit card, or give me an opening 'float' to work with. They can easily come up with an agreement for you to sign about ensuring the float is fully accounted for or repaid should you leave their employment.

It is ridiculous for them to expect you to subsidise to this extent on a monthly basis.

eskbanker

Surely any credit card will fit the bill, provided you get enough of a credit limit to cover nearly two months worth of spending?

If you time the monthly cycles right, you should receive your employer's reimbursement for any given month's expenses before you need to pay the relevant card bill off.

For example, if you applied for a card imminently and the account was up and running in time for early September, everything you spent on it in September would be on a statement issued in early October, but not due for payment until late October, by which time you'd have reclaimed your September expenses from your employer.

This all assumes that your spending can be paid by credit card in the first place, but I'm struggling to visualise £1200 of monthly work-related costs that would literally need to be paid in cash....

jimbo26

As eskbanker suggested. Try for a cashback card so you can also make a bit out of it each month as well.

YorkshireBoy

The Nationwide FlexDirect current account has a 12 month 0% overdraft facility.

It will buy you some time to build a float.

Terry_Towelling

If you are an employee of the company rather than a contractor you should do as @easy says and talk to your employer first because they really ought to be giving you some sort of cash imprest to fund you at the start or a company credit card.

I used to have a job like that and they always gave up front cash and a company credit card. It seems unreasonable for them to expect you to work in this way and to fund it yourself - unless, as stated, you are a contractor/self-employed, in which case you're on your own with savings/overdrafts or pretty much any credit card on the market.