Credit Cards

[Swiftd03]

They reimburse for the travel expenses. I submit receipts and am reimbursed in 5-7 days by direct deposit. Executive level managers are given company cards but most still reimburse through this same process for rewards and keep the company cards for the stuff AMEX lines won't even cover. I am not going to turn down the position because it is a stepping stone to a much better opportunity coming up.

[DaveSignal]

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Swiftd03 wrote:

They reimburse for the travel expenses. I submit receipts and am reimbursed in 5-7 days by direct deposit. Executive level managers are given company cards but most still reimburse through this same process for rewards and keep the company cards for the stuff AMEX lines won't even cover. I am not going to turn down the position because it is a stepping stone to a much better opportunity coming up.

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5-7 days is pretty quick.  Can't you just pay for the travel with funds in your bank account?  The money will get direct deposited there shortly afterward.  Do this until you can rebuild your credit to get some decent rewards card and then you can start getting rewards for your business travel.

[jsucool76]

+1 to dave's suggestion. Your accounts may be empty for a couple of days depending on your normal balances, but it is far easier to pay for dinner for a couple days on a low limit card than it is to pay for 2k in travel expenses.

[twall06]

Does your company have an Amex account I was in your situation having to travel but a month at a time . I couldnt afford all the expenses then get reimbursed. So they gave me an amex corporate card sucks I miss out on all the rewards but at least I know I can always pay for everything.

[rushx2112]

Try emailing the Cap1 exec office and explaining your situation, they are really good to work with and may be able to help you out!

[enharu]

use the cap1 card for 6-12months first and wait till your scores go up. In the meantime, if you can, try to have those baddies removed through good will or pay off whatever bad debt you have to negotiate for deletion.

other than that, with score lower than 600, it will be hard to even get a secured card from Wells Fargo or Bank of America.

Most of the good rewards card (especially for travel) need scores that are >700. The easiest card you can get is probably Amex charge cards, since it is and isn't a credit card at the same time. However even for those you will probably need to be around high 600s low 700s region.

[Swiftd03]

I just don't have $1500 laying around. If I did I wouldn't have this problem. I am still working on the baddies but where I'm at now is where I'll be for the next year while waiting for the baddies to start dropping off. I'm going to good will Wells Fargo but if that doesn't work everything else has been tried.
I've already emailed cap one EO just waiting for a response now but I'm not expecting them to do much with how new I am.

[sassymomof2]

I am sorry to hear that a corporate card is not an option.

For whatever its worth, I'm not a fan of title pawns because you need your car to work.

Is a secured credit card through a credit union an option?

What about a payday loan? I can't recall what you said your income is now, but you can go up to I think $750 in some places.

It's no credit check and you just need I think a month of bank statements reflecing no NSF activities.   Some companies will even turn you payday loan into an unsecured loan and give you up to 12 months to repay if you can't pay on time.

Regarding mileage, is the company reimbursing at a set per diem, actual costs,  or the standard mileage rate.?

I agree with you regarding the job.  It's a stepping stone and you shouldn't limit your future based on your current financial situation. 

Good luck and congratulations on your new job!

[scenery_guy]

Man I feel for you, I was there years ago. I struggled thru worrying about finances every single day while traveling, every time I had to pay for something on the road. I used a multiple card strategy including my debit card. Be aware you don't want to do much nowadays on a debit card as they freeze a chunk of cash for the transaction. That means NO rental car, NO hotel and no to other large purchases. It does mean you can debit away for meals, baggage and other small things like gas for rental car. 

You gotta get more cards. Try Merrick Bank. They have secured and unsecured cards. Try your luck unsecured then do what you can for a secured card. Hopefully others will add to the list some sub prime card banks you can research. Diversify. Call and ask for reconsideration when you are declined. You gotta earn this my friend. You can do it.

This is what will suck, but you need to do some math and work thru this to see what it will take, then you need to see how many low limit cards you are going to need. 

What is the hotel cost? Can you prepay the hotel? How is it being held for you now? Are you making reservations or does someone at work make and hold the reservation and you pay once there? Actually what type of hotels, be specific as I have a bit of insight as to how to address them. I used to plunk down a big pile of cash for my room years ago. I still gave a card for incidentals but they never batted an eye at the cash (same cash as what was reimbursed for your last trip BTW). 

How many days for rental car? How are you going to deal with insurance for the car? Don't take the fuel deals, just fill up on way back as it's going to save a few bucks. 

What's your food budget? Are you on your own or eating with others? I ask as if you leave and go back to hotel get used to eating cheap but if you dine with others be prepared to have to budget for this spend. 

What other expenses will you have besides luggage (figure $25 per bag one way)? 

Here is the good news, if you make it thru this you will be better, stronger at finance and way better with credit. This is an excellent path to building (or rebuilding) credit. It was my path and I made it. I have a wallet full of stupid plastic cards now but it was the experience that made me, not the cards I have now. I could do it again if needed. Remember credit cards are tools, treat them like a tool (and don't be a tool for the credit card companies). 

[Revelate]

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sassymomof2 wrote:

I am sorry to hear that a corporate card is not an option.

For whatever its worth, I'm not a fan of title pawns because you need your car to work.

Is a secured credit card through a credit union an option?

What about a payday loan? I can't recall what you said your income is now, but you can go up to I think $750 in some places.

It's no credit check and you just need I think a month of bank statements reflecing no NSF activities.   Some companies will even turn you payday loan into an unsecured loan and give you up to 12 months to repay if you can't pay on time.

Regarding mileage, is the company reimbursing at a set per diem, actual costs,  or the standard mileage rate.?

I agree with you regarding the job.  It's a stepping stone and you shouldn't limit your future based on your current financial situation. 

Good luck and congratulations on your new job!

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If you have a credit score at all, PDL's don't make much sense honestly.  The APR on the Cashcall example I posted is 140 (though now they have a deep deep subprime at 186); entry PDL is like 400% when you look at the fee structure.  

Think if you have a bank account, and an Internet connection, can do better than a PDL even.