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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: More Interest Hassles Date:  12/10/1998  4:34 PM
Author:  robortiz Number:  5846 of 312185

(I didn't file an expense report, and those tickets are already on my card. I
won't get reimbursed on time now, so I will pay interest. I'm going to try to have that expense
reimbursed too.)

Hi George,

One trip alone is one thing, but multiple trips in sequence, or one long road trip can kill your track record of regular monthly payments if you don't plan ahead. On one hand, I am almost fully "recovered" from my own credit card disaster. On the other hand, at one time earlier this year was running charges for business travel at the rate of $18-$20 K per month. In order to avoid interest charges of orbital proportion, every ten days I carefully forcasted my upcoming travel, estimated future expenses, and chose my timing for cut off of expense account closings for actual expenses to date. If you miss one of the ten-day periods, can really mess up the cash flow. Had to assure I could close my internal approvals and voucher submission to accounts payable so payments would be made in time to get the cash to pay the CC. Fortunately, the company has the payments made by direct deposit (you try to get this...), and I can confirm deposit and make auto payments from on the road.

Oh yes, the mileage points have been great !

(Foolish since 1998...)
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