Personal Credit Card Alternatives for Nonprofits

 

 

Points. Everyone loves free stuff right? With personal credit cards, you can rack up the points really quick by expensing business purchases. With those points, you can use them later for perks such as business supplies, cash back, or even travel. Similar to points, frequent flyer miles are often a very good reason to use your personal credit card. With the miles you earn from spending on your nonprofit expenses, you can use the miles to fly to a conference or use them for personal travel (better check to make sure that’s acceptable per your organization’s guidelines first however). 

 

 

If your nonprofit organization has strict policy guidelines regulating perks, gifts, etc, chances are frequent flyer miles or points accumulated through personal credit cards are probably frowned upon. There are however, fairly substantial benefits for using a personal credit card alternative to fund your daily nonprofit expenses. First and foremost, using your personal credit to fund anything other than personal expenses is a risk. Maybe Joe from accounting comes down with the flu and the expense checks are cut a week late… after you just expensed a $5,000 conference trip in Austin. Other benefits for using a personal credit card alternative is that you can really save a lot of time. With solutions built-in for many different industries, using solutions like PEX Card is one of the best ways to manage nonprofit expenses, delegate funds to employees, and make the entire reimbursement cycle smoother. Lastly, but certainly not least-ly (err…) by using a prepaid debit card as an alternative, you can save on interest fees which come with corporate or company credit cards.