I work in field service, so I've been spending thousands of dollars a month in hotel stays, rental cars and airfare and writing it all off on expense reports. I very well may end up charging over ten thousand a month pretty soon.

I've always paid off the card in full every month to avoid paying interest, the point of the credit card is to give me enough time to fill out the expense report and get reimbursed for the charges before I actually spend the money. It smooths my cash flow.


What screws my current system is that the due date for my existing credit card is on the same date every month, so if I put any charges on the card a week or two prior to the due-date I'm not reimbursed in time to pay the charges off before they accrue interest. And if I put charges on the card on the due-date or the day before the due-date, then they may accrue interest no matter how quick I pay them off because they get carried over the due-date.



So what's my best course of action? Is there a card out there that has a due date of "30 days since the last time I've paid it off"? Are there any that just don't accrue interest on a charge until it has been on the card for over 30 days?

Currently all I can think of doing is getting two credit cards with due-dates 2 weeks apart, and using each one for two weeks at a time. But that'd be a pain in the neck.

And rewards cards? Are they worth it? I'm racking up hotel nights and frequent flier miles at a respectable pace, do the cards help with that?

I talked to BofA's online support, but no matter how much I flirted with Samantha the Support Girl she wouldn't give me the answers I wanted to hear.

 

tow a popup camper around with you and charge the company a rental on the camper each night and profit..... I have a american express for business and it is on a every 30 days billing cycle, after 30 days there is interest

 

i have an American Express Corporate card. NO LIMIT, you pay only what is in the billing statement, mine is from the first day to the last day of the month and is due on the 13th of the following month. had it for 5 years now, i pay no interest but do pay a $35 fee annually. as long as i can get the report in at the first of the month i get a reimbursement check within a week so it always hits the bank before the payment is due.


BTW, are you staying at the Ritz Carlton and renting Mercedes? that is the only way i can imagine spending 10K a month on hotels and rental cars.

 

I think Bank of America is the problem. I've heard bad stories about B of A.

 

hook your self up with online bill pay for that card, when you go to pay, pay the current ballance each month, thats what I do and haven't pain a dime interest in several years now, plus on the upside my card has score card rewards........ rack up points and shop their catalog or travel....... sounds like you could rack up quite a nice bit of free stuff in a short time.

 

I stay in the $120 a night places and rent whatever the rental agencies will give a 21-year-old, which is usually a mini-compact with a $50-a-day underage fee.


It's the no-notice air-fare that adds up... My company is contractually obligated to have me anywhere in the country within 24 hours, then we have some contracts that we are obliged to service in-person within 8 hours. Then I use the same card for my personal bills and services in that timespan too.

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So the charge has to be on the card for 30 days for there to be interest, or the interest accrues all at once every 30 days?

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I do pay the card off online at the end of every month, or rather on the 8th of every month.

The problem is that if I get a call on the 6th of the month and have to buy an $800 plane ticket, $400 rental car and $300 hotel stay all on the 6th, then I only have one day to pay that $1500 or else it rolls over to next month and then I am charged interest on it.

 

Have you talked to your boss about a company credit card? Let them pay it every month and you reconcile a report. I know it's good to have a job and all but I wouldn't subsidize any company I work for. You might be able to afford it but I can't. Just my $.02. Good luck.

 

As long as I subsidize my company substantially less than it subsidizes me then I'm doing something right.


Besides, how could I live my life without climbing smoke stacks?



And fixing boxes?

 

Simple and short, you shouldn't be incurring any intersts on the items charged until after 30 days of the purchase. So, if you charge something 1 day before the billis due, that item will no accumulate interest until the day before the bill is due the following month.

If I were you, I would just pay it off every 2 weeks if you can afford it.

Good Luck!

 

There is a difference in bill due date and end of billing cycle. You seem to be confusing the two begle.