How Do You Pay Expenses
- Thread starter RedBird
- Start date
chefdennis
Veteran Expediter
I am with Rob, I use both. Cash for small stuff, one CC for big stuff and aonther card strictly for gas. That gas card gets a payment each week so there is a -0- balance for the most part starting each week.
bluejaybee
Veteran Expediter
I use cash for eats and small stuff. Credit card for any repairs or larger items. Fuel card for fuel. Fuel card comes out of my bank account each week automatically. I like it.
My VISA check card ( checking account debit card) for almost everything, except for Comdata card for when I fuel at the TA. The only thing I spend cash-cash for is border crossings and any surprise tolls I run across, I usually keep a $20 on me for that.
Works out great when people hit me up at the truck stops trying to bum money off me for whatever tragedy du jour they are facing. I can tell them straight up that I don't carry cash, that I run on company cards, and it's the truth.
Works out great when people hit me up at the truck stops trying to bum money off me for whatever tragedy du jour they are facing. I can tell them straight up that I don't carry cash, that I run on company cards, and it's the truth.
chefdennis
Veteran Expediter
in addition to the above, I use "I" pass or "EZ" pass in 1 state for tolls. except okla, they have their own system that won't work with "I" or"EZ"..........
Packmule
Expert Expediter
I have a Capitol One Business card and try to use it for everything business related; Gas, Repairs, Maintenance, even food. Why? Because it gives me a record of my expenses, broken down into categories easy identifiable for tax purposes.
It also gives me proof of date, time, and location, which is acceptable to the IRS since I don't Log on a daily basis.
I pay it in one lump payment at the end of the month and pay NO interest. But I do get points for every dollar I spend, for prizes, airfare,or Cash. so to me its almost like they are paying me, and doing a lot of my accounting work for using their money.
May not be the best way for you but it works for me.
It also gives me proof of date, time, and location, which is acceptable to the IRS since I don't Log on a daily basis.
I pay it in one lump payment at the end of the month and pay NO interest. But I do get points for every dollar I spend, for prizes, airfare,or Cash. so to me its almost like they are paying me, and doing a lot of my accounting work for using their money.
May not be the best way for you but it works for me.
Works for me too! I pay it off every month. No balance. No outrageous interest rate. When I accrue 25,000 points I redeem them for a $350 Sears gift card.
I use whichever is the best at the time, and always watch for a new program coming out. I use a credit card that I pay off monthly and accrue no interest, then cash for food and smaller other expenses. I also use a business card that costs no interest and generates premiums and points I can use. And of course, I shop around for the best deals on every big ticket item. I carry two credit cards, an ATM debit card, checkbook, and about $500 in cash. With those four payment methods, I can take advantage of discounts offered by using one or the other.
mjolnir131
Veteran Expediter
i foresee a set of personalized titanium plated ratchets in Moots future
ref : "i'm in love thread" in truck talk
Yeah, I really like the Capitol One expense reports. I use the card for everything. Makes the bookkeeper happy...
Using credit cards on repairs is a must for me because of the consumer protection. I had a guy charge me for a new coil pack one time. A day or so later I could tell that the pack wasn't new but just sprayed with a clear coat or something to make it look new. For all I know it was my original coil pack! It was easy to reverse the charge and the guy didn't even contest the charge back.
If I had used cash I don't think I would have gotten my money back so easily, if at all.
Using credit cards on repairs is a must for me because of the consumer protection. I had a guy charge me for a new coil pack one time. A day or so later I could tell that the pack wasn't new but just sprayed with a clear coat or something to make it look new. For all I know it was my original coil pack! It was easy to reverse the charge and the guy didn't even contest the charge back.
If I had used cash I don't think I would have gotten my money back so easily, if at all.
RLENT
Veteran Expediter
I mostly use a Chase Freedom Card Mastercard (which is paid on weekly, as settlement money comes in), because it provides a 3% rewards on the top couple of categories of purchases, and 1% on the remainder. All transactions are identified/coded on the statements (Vehicle Expenses, etc.) If you wait till you have accumulated $200 in rewards before you redeem, they will send you a check for $250 (usually about every 3 to 4 months for me)
Small personal stuff that is not business-related is usually paid with the Visa Debit card from our personal checking account, occasionally with a credit card.
I don't carry a checkbook with me (wouldn't want that to get stolen if the truck was ever broken into while I was out of it) and generally carry a minimal amount of cash - always less than $100, and usually less than $50 - just for some tolls (that don't accept i-Pass) and other misc incidentals (stamps from the post office, etc.)
Small personal stuff that is not business-related is usually paid with the Visa Debit card from our personal checking account, occasionally with a credit card.
I don't carry a checkbook with me (wouldn't want that to get stolen if the truck was ever broken into while I was out of it) and generally carry a minimal amount of cash - always less than $100, and usually less than $50 - just for some tolls (that don't accept i-Pass) and other misc incidentals (stamps from the post office, etc.)
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nightcreacher
Veteran Expediter
I draw from 40 to 45 % off every load.this is put on my T check card,and will take care of all moneys spent on the road,for anything needed.Especially nice with the discount we get from TA truckstops for fuel.
are12
Expert Expediter
We use cash for the everyday stuff, business debt card for the smaller stuff (truck washes, oil changes, etc) but for the big jobs we use our business credit card (issued from our bank) but we pay it off when it comes in so there is no interest. We also have our TAB account through the Flying J that is used strictly for fuel.
Our bank rep said it is best to pay for repairs with a credit card so if the work is not done right, it is easier to dispute. That is when we got the business credit card.
Our bank rep said it is best to pay for repairs with a credit card so if the work is not done right, it is easier to dispute. That is when we got the business credit card.
Jack_Berry
Moderator Emeritus
i-pass/ez pass works everywhere except ohio, okla and kansas. was told recently ohio will be up to speed in '09.
EZ Pass does not work in Florida or California either. For the rest of our expenses we write rubber checks drawn on the Bank of Congress. I figure if they can do it so can I!!!! LOL Layoutshooter