Don't Run Up Reimbursement Debt

Adam's corporate credit card is about to run out, and Dave has a great way for him to handle his new reimbursement account.

QUESTION: Adam’s company provides him with a corporate credit card, but that is going away in September. Should he get a personal credit card to pay for expenses until he gets reimbursed? Dave has a better idea.

ANSWER: I would open a separate checking account with a debit card and deposit your expense check, then use your card off of that. You’ll spend more with a credit card and run up debt. Don’t use that debit card for anything other than reimbursable expenses. Keep it completely separate from your personal account.

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