Lately, I've done quite a bit of travel for work, which includes expenses for things like flights, hotel rooms, gas, business dinners, conference rooms, etc.
My company uses a travel service and to the extent I can give them enough advance notice they will book, and pre-pay, flights and hotel rooms. But, all other expenses fall to the individual employee and I'm not provided with a company credit card. Additionally, to the extent I'm booking something last minute I have to put it on my own credit card.
I'm not happy about this situation, I don't normally use my credit card except when we book personal travel and then I pay it off immediately. As a result, I don't normally have a credit card bill to pay so it is not part of my normal bill paying routine and I ended up being late on the payment, by one day, this past month and incurred a $20 charge. Moreover, the whole reimbursement, deposit of reimbursement check (since it is delivered as a hard copy check), payment of the credit card bill is time consuming and more so depending on number of reimbursements within a month. I've decided it basically takes a half hour of my time for each reimbursement and being short on time I'm not happy about adding this to my weekend errands.
I don't know what the solutions is for this problem or if there is a solution.
7 comments:
I would consider asking your company if they would consider providing you with a prepaid debit card.
I have found myself on the other side of the fence. I use my credit card too frequently and as a result I have taken advantage of free email & text message alerts from the credit card provider. My credit card company sends me an email if I have spent X during the month and a notice that my credit card bill is due in 10 days.
Dwight - Don't have the option of prepaid debit card for work travel.
I'll look into whether my credit card will send me an email when the due date approaches.
I agree it's a hassle, but the expense report routine is a reality with most professional positions. I work for the federal govt, and it can take up to 45 days to get reimbursed. I pay everything on a no-fee, cash back rewards credit card, pay it off ASAP like I would if it were my own expenditure (even if the cash has to come from my emergency fund), and then use the expense reimbursement to replenish the funds. I like putting expenses on my card, because I get a cash back rate of 1.3%, and considering my float is usually 30 days or so, it's like getting an annualized 12% return on my mini-"loans" to my employer.
SC - that is another way to look at it. I'm thinking about switching a regular bill to my credit card so that I have to pay a credit card bill each month. Hopefully that way I won't overlook it again.
Deposited $380 reimbursement check today, waiting for it to clear and then will pay off the most recent airfare.
I pay my ccard off in full every month (but I charge EVERYTHING on it to earn airline points) so if and when I am ever late (misplaced the bill or something) I simply call them. Tell them I realize I am late but just mailed it today and that they can see by my history that I am always on time, and can they please remove the late fee charge and any incurred interest. I have always had them say yes. you should try that.
@sclawgrl - I work for the federal government too and I have my reimbursement in my bank account 2 days after filing my expense report, which is generally every 2 weeks. You need to get those procedures in your department.
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