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Travel and Entertainment Cards

Published by sam - 13/09/07 - 10:09:46 am

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Travel and entertainment (T&E) cards—issued primarily by American Express and also by Diners Club and Carte Blanche—generally do not offer cardholders a credit arrangement and require payment in full (except for travel-related charges) at the end of each billing period.  The issuers of T & E cards derive their income from a substantial annual membership fee (ranging from $35 to $250) and commission from participating merchants.

Traditionally, T & E cards were used primarily for travel and entertainment expenses by business who needed to keep separate records for business expenses.  Self-employed individuals also have found them in helpful in calculating their tax deductions.  Today of course, T & E cards are being used for all kinds of purchases.  American Express has also recently introduced Optima, a credit card that does offer installment payments at a relatively low rate of interest, but applicants for his card must also hold the regular American Express Card.

T & E are heavily advertised as status symbols, and some restaurants honor no other credit cards.  But if u have no great need to impress waiters and have no tax deductible travel or entertainment costs to document, you may find that they offer little, if any, advantage, short of an interest-free grace period between the time of purchase and the date of your payment.

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