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Started By
Message
Small business credit card recs?
Posted on 1/27/23 at 10:47 am
Posted on 1/27/23 at 10:47 am
My wife and I are in the final stages of buying out a retail clothing and gift shop.
Looking for one or two credit cards that best suits what we’ll be doing.
Annual spend on inventory will be around $500k. 95% time, your order is ready, you’re sent an invoice, you call and pay over the phone or PayPal, Quickbooks, etc. with CC, and it ships. Obviously, would love to rack up points and cash back, and just pay off CC every week out of the operating acct.
4-6 trips/year to ATL or DAL for vendor markets, so 20-25 nights in hotels with gas and eating expenses.
Other than that, office and gift wrapping supplies will add up to 25-30k/year.
Looking for one or two credit cards that best suits what we’ll be doing.
Annual spend on inventory will be around $500k. 95% time, your order is ready, you’re sent an invoice, you call and pay over the phone or PayPal, Quickbooks, etc. with CC, and it ships. Obviously, would love to rack up points and cash back, and just pay off CC every week out of the operating acct.
4-6 trips/year to ATL or DAL for vendor markets, so 20-25 nights in hotels with gas and eating expenses.
Other than that, office and gift wrapping supplies will add up to 25-30k/year.
7
Posted on 1/27/23 at 11:15 am to prostyleoffensetime
The small business cash back cards are very overhyped. 2% cash back on your est spend is $10k and that doesn't get me overly excited.
You could utilize a mix of travel cards. Airline and hotel chain, which leads to elite status based on your annual spend (at least amex delta/marriott). I have these two cards and find it beneficial because I don't pay for personal travel with the points/rewards earned by using the card.
edit: grammar
You could utilize a mix of travel cards. Airline and hotel chain, which leads to elite status based on your annual spend (at least amex delta/marriott). I have these two cards and find it beneficial because I don't pay for personal travel with the points/rewards earned by using the card.
edit: grammar
This post was edited on 1/27/23 at 11:16 am
Posted on 1/27/23 at 11:23 am to prostyleoffensetime
Give me the 2% cash back all day. Capital one spark card works great
Posted on 1/27/23 at 11:31 am to prostyleoffensetime
I'm using the Chase Ink for the 3* points on travel, shipping purchases, cable and phone services. We spend at least $40k a month on freight.
I can also merge the points to my wife's Chase-Bonvoy account for our vacations.
I can also merge the points to my wife's Chase-Bonvoy account for our vacations.
Posted on 1/27/23 at 12:26 pm to hombreman9
quote:
Give me the 2% cash back all day. Capital one spark card works great
Posted on 1/28/23 at 10:19 am to prostyleoffensetime
Amex Blue business cash is 2% cash back but I think it drops to 1% after 50K spending
Posted on 1/28/23 at 10:28 am to prostyleoffensetime
Chase Ink Unlimited (or any Ink) has 90K sign up bonus now and earns 1.5x on everything, which is an amazing bonus and 1.5 is great if you combine with your other Chase points.
Plenty of 2% options (Spark, Amex Blue Biz). 2% is obviously more than 1.5 but sign up not quite as good and Chase UR are worth more than 1 cent, but some don't want to deal with points. Regardless, always use a someone's referral link when applying.
Plenty of 2% options (Spark, Amex Blue Biz). 2% is obviously more than 1.5 but sign up not quite as good and Chase UR are worth more than 1 cent, but some don't want to deal with points. Regardless, always use a someone's referral link when applying.
This post was edited on 1/28/23 at 10:29 am
Posted on 1/29/23 at 12:50 am to prostyleoffensetime
Just do multiple. Go ahead and get the Chase Southwest Airlines companion pass, for free airfare for the wife. Then switch to whatever you see fit. But, be sure to look up maximization strategies. (I believe you get it for the year earned + 1 one year.)
I’ve seen 190K bonus points for Amex platinum. Which offers a ton of benefits, which could be beneficial to your biz (potentially).
^ oh yeah, I also have a SWARR referral link if you’re interested.
I’ve seen 190K bonus points for Amex platinum. Which offers a ton of benefits, which could be beneficial to your biz (potentially).
^ oh yeah, I also have a SWARR referral link if you’re interested.
This post was edited on 1/29/23 at 12:51 am
Posted on 1/29/23 at 6:15 am to prostyleoffensetime
American Express Platinum.
You'll get in all the lounges. You'll never pay for a airline ticket or hotel room again with that spend.
Also, with your level of spend, they will wave the yearly fees which are pretty damn expensive.
You'll still need to pay the first year and then SHOW them how much you are spending. When the renewal period comes up, ask them to wave it and they will.
You'll get in all the lounges. You'll never pay for a airline ticket or hotel room again with that spend.
Also, with your level of spend, they will wave the yearly fees which are pretty damn expensive.
You'll still need to pay the first year and then SHOW them how much you are spending. When the renewal period comes up, ask them to wave it and they will.
Posted on 1/29/23 at 8:48 am to I Love Bama
Consider the Amex Plat and Amex Gold. Gold offers you 5x points on shipping plus one other of their business categories. Plat has a ton of perks. I have both for my businesses and take in over a million points each year.
Posted on 1/29/23 at 3:05 pm to I Love Bama
^^^^ What he said. Amex MR Points are incredibly flexible with many travel partners to transfer points to plus you get automatic
Posted on 1/29/23 at 4:22 pm to LSUlove
quote:
take in over a million points each year.
Dope! I've got about 3mm saved right now and I mostly use my points to fly hot colombian girls to cancun for all-inclusive 3 day trips.
I might use 100k-150k points for each trip. No money out of pocket. Crazy sex for three days with perfect 10s.
Love the point life.
Posted on 1/30/23 at 8:32 pm to LSUFootballLover
quote:
Amex Blue business cash is 2% cash back but I think it drops to 1% after 50K spending
I got approved for this one before I started the thread. I claimed 1 mil annual revenue and 50k planned monthly spend. Was given a 10k limit instantly, and will have 22.5k when I get the physical card. I have already bought a little inventory with it.
Applied for Chase Ink Business Premier this evening. Put the same expected annual revenue and monthly spend, and was put in review. May have shot too high
I do have one question about how rewards pay out on all this. Am I going to still get rewards if I’m paying off weekly or as soon as transaction is cleared, or are they paid out on whatever is charged to the card on day of billing?
Have never been a put a bunch of shite on CC and pay off at end of month kind of guy, so I’m kind of clueless here…
Posted on 1/31/23 at 9:14 pm to I Love Bama
quote:
to fly hot colombian girls to cancun for all-inclusive 3 day trips.
PICS?? you posted this shite on the MONEY Board not cesspool aka OT soooooooooooooooooooooooooooo u need to come through
lets go! post the pics
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