White privilege is a term that describes the advantages that are bestowed upon white people – people of color. Many people assume that the term “privilege” implies that someone is inherently better than others. While that is true to some extent, the term “privilege” can also be used to describe unfair advantages that are given to someone with a particular attribute — think of privilege as a “pot of gold at the end of the rainbow.”
Last week, I wrote an article on “Gone With the Wind”, a new credit card exclusive to credit unions, which allows users to earn miles on their everyday credit card purchases. I’ve received numerous comments on the article about eliminating the costs of everyday purchases with a credit card to earn miles, and the criticism is that this is “white privilege”.
Is it a privilege to put business expenses on a personal credit card to earn miles?
Gary Leff 10. July 2023
If your employer is financially strong enough to make payments and process expense reports quickly, there are few things more pleasant than being able to have business expenses charged to your personal credit card. This makes it easier for you to get initial card bonuses, as well as threshold bonuses that can help you gain elite status, and ultimately earn you a lot of points to use later. Imagine being able to charge big bucks for air travel (5 times) and hotel conferences (3 times)!
But there are big ifs.
- There is a risk that the employer is not really solvent and does not have the money available when you file your refund.
- There is a risk that a refund will not be processed quickly and you will have to pay the credit card bill with your own money or pay interest.
- There is a risk that the indictment will not be approved
It is important to understand how your employer handles reimbursements and to make sure they have the necessary resources, and it is important to be sure that the expense will be approved before you make it.
Diners Club offered 60-day payment terms, which was an employee’s best friend. You’ll have less to worry about in terms of timely repayment, and you can even make money without any hassle. I used to just transfer the refunded amounts to a BankDirect checking account, for which I got American Airlines miles credited while I waited for my credit card statement. (Of course, if you have large bills on your card, this may lower your credit score at the expense of using the card).
An employee of a startup who is supposed to have business expenses put on a personal card and paid back (at a successful company that processes refunds quickly) wrote to the Washington Post to complain. I don’t think it should be mandatory, and anyone who is able and can meet the risk requirements should be happy with a card that offers at least 2% cashback.
The author calls having credit and money to pay for business expenses with a personal card a white privilege.
I’m a black man who doesn’t have the best credit and lives on a small budget, and although my boss is an ally who tries to support diversity and inclusion, this seems like a matter of white privilege because he assumes I somehow have the cash flow to pay for these purchases.
This case is about affordable loans, not cash. And it’s not always about income, let alone race or class. If race issues are not addressed, the employee may not be able to manage the company’s purchasing costs. And some people don’t know how to handle money, by setting aside money from refunds to use only to pay off credit cards and not for personal purchases (causing you to spend more than you could when you see the refunds in your account).
Lake View from the Wing
Frequently Asked Questions
Can you put business expenses on a personal credit card?
No, you cannot.
Is it better to use personal credit card for business?
It is better to use personal credit card for business if you are not sure about the company’s credit history.
Can you change a personal credit card to a business card?
Yes, you can change a personal credit card to a business card.
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