3 ms·

Good idea, but 3% really does seem excessive. I'd price it at about 0.7% if I were them. But I'm sure they know this, and they're probably planning to drop the

• tptacek 18y ago
  It's excessive if you'd otherwise be submitting all your expenses. If you're like me, that's not the case: I've never worked at a company and been less than $10k in the hole on unfiled expenses. I know I'm not the only person with this problem: once a year, you have the nightmare afternoon of trying to track down airline receipts and photocopying cab receipts. It's easy to see how this pays for itself. However, it makes no sense if you own a startup. Instead of paying 3% or 1% or 0.5% to another startup, get an Amex account, and use it exclusively for expenses. Expense off the statements.
  • wmf 18y ago
    Yikes. At my company we use the IBM/Amex expense reporting system; when I start an expense report in the tool, it shows all the recent transaction on my card and I just add them to the report and submit it. Then the company pays Amex. Usually no receipts are needed. Is nothing like this available for small businesses?
    • mattmaroon 18y ago
      Yeah, it's called Quickbooks and any credit card that supports it (which is almost all of them).
    • tptacek 18y ago
      Sure they are. For instance, your small business could just issue everyone an Amex card, and collect the statements. All you need is trust.