I'm deciding whether I should find the lowest APR card or if I can get one w/ good rewards but maybe a higher APR.
I'll only be using it for business trips which I'm reimbersed for within a couple weeks.
2007-08-06 07:00:01 · 7 answers · asked by brodie g 2 in Business & Finance ➔ Credit
Pay then entire bill when it comes each month, and the interest can be 1000% and it won't matter.
Pay only a portion of the bill, and you acrue interest on a $1 ballance, and then the APR is too high, no matter what it is.
If you're "only" using the card for business trips, then can you get one from your work? Or get a card, and set the limit at only $300. That way, you can charge a car, room, etc., and not run the risk of paying interest on unpaid ballances.
2007-08-06 07:11:10 · answer #1 · answered by jimmeisnerjr 6 · 2⤊ 0⤋
First you need to check your company hand book. Some companies will not allow you to benefit from company reimbursed expenses, however most do not care.
If you are going to pay off the bill every month, when the bill comes in regardless of reimbursement status, and not carry forward any balance then you are fine with better rewards and a higher APR. Remember there is a delay in how fast a company can reimburse expenses. Sometimes the approval can sit on your boss’s desk for weeks before he finally gets to it, etc. Should there be a delay, most companies will NOT reimburse you interest expense. Also, the yearly fees for a credit card that has a good reward program are also not reimbursable.
2007-08-06 14:14:56 · answer #2 · answered by Robin C 5 · 0⤊ 0⤋
If you are sure you can get reimbursed in a couple of weeks then you should get the one with the rewards, as the interest rate won't matter.
However, you should also be sure you can "cover" the bill every month just in case you don't get reimbursed on-time. If you don't get reimbursed in time and don't pay the balance then you will get hit with any interest charges. The credit card company won't care if you didn't make a payment on time because the company did not reimburse you.
Just a note on getting a $300 credit limit to cover your expenses from a previous answer. That usually won't even cover the airline tickets. Let alone a rental car, hotel, and meals.
2007-08-06 14:29:25 · answer #3 · answered by OC1999 7 · 1⤊ 0⤋
The interest rate makes no difference if you pay the balance in full every month. Go for the best reward -- I recommend something with a cash reward.
I use to travel every week for business and one year I got over $300 in cash back rewards.
2007-08-06 14:04:53 · answer #4 · answered by bdancer222 7 · 2⤊ 0⤋
it is 6 of one and a half dozen of the other.
Even though you are reimbursed every couple of weeks there may be times that the charges for the trip are made at the end of a billing cycle and you do not have a couple of weeks to pay the charge.
2007-08-06 14:05:32 · answer #5 · answered by DrIG 7 · 0⤊ 0⤋
Don't stick to the monthly minimum payment. Pay the maximum you can afford and get that outstanding debt cleared as fast as possible. By just paying the monthly minimum the credit card companies reap the maximum rewards while, as a consumer you pay the maximum interest. Read more from: http://www.credit-card-gallery.com/article/264,5_not_to_miss_things_for_a_good_credit_score
2007-08-07 07:46:54 · answer #6 · answered by brady ewart 3 · 0⤊ 1⤋
I agree, if you are paying it off in a couple weeks, it doesn't really matter.
2007-08-06 22:07:37 · answer #7 · answered by jason a 1 · 0⤊ 0⤋