We presently us an Amex credit card but it is very cumbersome for us to handle and with several people in constant travel status is it difficult to monitor for mistakes or for inappropriate charges. I would like to use individual payer corporate cards so we would reimburse based on the expense report and the travels have an incentive to verify the charges are all correct.
Does anyone have a recommendation for an individual payer corporate credit card?
AMEX Corp Cards as you are probably aware can be disparate or linked for both credit, liability and payment.
You can't (unless they changed something) get control of the air miles.
I don't think this is the same w/ VISA or MC.
Yes I have a Corporate credit card and I have control of the miles but they are not individual payer cards. The entire bill come to me and I pay it. I deal with a lot of the big manufacturer, steel mills etc., and many of them have long payment terms. I cannot always pay off the card until the receivable come in so I commonly carry a balance. I've had these cards for many years.
I will look at the app it may help but I still need a way for the engineers to pay for their travel expenses and would prefer switching to an individual payer corporate card.
You either have the small business card, or you need to modify your corporate account. Speak to your account exec
Recommend that you use an expense tracking app, rather than corporate card. These provide easy entry of expenses, including mileage, receipt capture, and a simple review and approval workflow that saves a lot of time and effort. Take a look at Expensify, Spring Ahead, Concur. You will easily save the cost of the app in time, effort and frustration.
My friend Emerson would claim you are shifting the responsibility from the company to the employee unfairly.
I don't always agree.
@Wayne Spivak. You raise a relevant point. My promise to folks is that, if they submit expenses on a timely basis, we can process and turn around the expense report within days, and well before the credit card bill is due. With the right tools this is easily done. For those special situations where the employee does go through a lot of expenses on a regular basis, consider a travel advance float that provides the buffer needed to relieve the burden. The OP's issue is that folks not providing timely or inaccurate expense reports. By reimbursing, there's incentive on their part to make it happen. Employees get to choose their preferred card and card perks, company get timely, accurate expense reports avoiding the possibility for tax audit problems.
I would only write checks to the credit card company. This way you know the expense has been paid and the employee doesn't misuse the cash or divert it for other expenses.
I would like to offer an individual payer corporate card so any engineer that does not have good credit or prefers not to use their credit have the option of a card in which the company assumes liability. If they want to use their own card for a benefits program that would be fine. I read there are individual payer corporate cards with which the company assumes the responsibility for a card if the employee doesn't pay but I can't find details on cards that tell me who offers these cards. Obviously we would want to control the limit on the card to reduce company exposure. Does anyone have a recommendation for such a card?
To Carl.......(clap) (clap) (clap)