Credit Card for Business Expenses - which one?
I have done my research and the choice has come down to one of two credit cards offered by the Bank of Queensland:
Interest Free Days or No Interest Free Days
The purpose of the purchase of the card is to help fund my work trips and take care of some of the up-front costs associated with the trip such as airfares (mainly) or accommodation. Now, I usually come back from each trip "in profit" (making back all the expenses: airfares, accommodation, meals and sundry expenses) more often than not. There have only been the rare few trips where I have not come back "in profit".
When I am home for a month or two (like I am currently) I would only use it to cover other business related expenses such as car expenses and/or other work related expenses.
My question is: which card do you think I should use since I would only be using it once a month as each trip would be once a month or once every second month ?
Re: Credit Card for Business Expenses - which one?
1. What is the normal cost of one of your trips, air fare, accommodations, etc.
--- up to $1000 however the major expenses are airfares (return) and accommodation. I stay at hostels therefore I eat cheap so meals and sundry expenses aren't that big (maybe $200 for the whole trip which I have always set aside in its own bank account for that purpose). if i can get help with one of those two large expenses up-front then i will be okay as i usually (from my experience) make a profit 90% of the time.
2. If you used the No Interest Free Days card, would you be regularly paying it off in full as soon as the trip is over? If not, how much would you be paying off and when?
-- I would be paying off the trip as soon as it is over or when the payment is due. I would always make sure I had the money to pay off the card first and foremost even if the trip wasn't that profitable. I would just write-off any of my own money used as a loss instead of the credit card money (as i can definately make $500 each trip at the very very very minimum lol).
3. In the US, I think some cards still have no interest charges if the total outstanding on any bill is paid in full by the time the next bill is sent. I am assuming this is NOT how the No Free Days card works, but if I'm wrong things could change a bit.
-- Wasn't this specified on the pages I referred to within my OP ?
4. What rate of interest can you get these days in Australia on a normal savings account?
I have savings accounts. I have $2000 in my main everyday account which my VISA debit card is linked to because if I maintain that balance each month and never go under I am not charged ANY account keeping fees... I also have money in two separate long term savings accounts which turnover into new long term savings accounts every three months... just that I don't want to use any of it as they are all my "do not touch unless you really really really need to touch it" money.
I don't get much rate of interest on my everyday account. I get the current interest rate as per the ING Savings Maximiser account -- http://www.ingdirect.com.au/personal/savings_max.htm
Thanks ;D