When I first started working, my firm gave me a corporate credit card from Diners Club, to which I can charge business expenses, such as plane tickets, overtime meals, and taxi cabs. Over the past the three years, however, my corporate credit card has been my primary credit card. Here are the reasons why:
- Two month grace period – For each billing cycle, I get a two month grace period to pay off the complete balance before the credit card starts charging me interest. More times than not, expenses, especially those involving international travel, take more than a month to get reported to and approved by accounting, after which a check is cut to reimburse me. The two-month grace period feature has helped me out on more than one occasion for such these reasons, but it also served as a safety net in case I ever find myself too cash-strapped to pay the full balance right away.
- Rewards program – I have to pay a $75 annual fee to gain access to the rewards catalog, but it has been completely worth it. After three years ($225 in annual fees), I was able to exchange my points for $425 in Amazon credits, $100 in statement credits, and a $20 gift card to California Pizza Kitchen. This is more than a 200% return.
- Customer service – The Diners Club has great customer service, in that I have never once spoken to a machine. Further, when a hotel in Spain charged me for a night’s stay after claiming that I did not email to cancel my reservation, I was able to dispute the charge with Diners Club and they credited me the amount I was charged. Considering that it was an international purchase, where euros had to be converted to dollars on my statement and there was a foreign exchange fee, I was grateful that Diners Club made the process so painless.
- Credit report – Lastly, the Diners Club does not show up on my credit report. So while I don’t get rewarded for paying my balance on time and in full, should I ever lose the credit card, I never have to worry about someone charging it and ruining my credit score.
If you are lucky enough to get a corporate credit card, whether Diners Club or the American Express Corporate Card, do a little investigating. The best source of information will probably be your colleagues, so ask them about their experiences and see if using the corporate credit card as your primary credit card will be worth it for you as well.