We started our business in March and have Chase Business Premier. We have run about half a million dollars through it this year. I just direct deposit in my personal bank acct. My understanding was this was fine tax wise. Google says redeeming rewards as cash is not taxable, but maybe should double check with my accountant?

2 ...

Report Post

Posted by Im4datigers

Northern Virginia

Member since Oct 2003

4469 posts

Posted on 12/26/23 at 8:19 am to prostyleoffensetime

quote:
I have an Amex Platinum Business card as well. The perks are nice like $400 a year credit for Dell.com, $200 airline, free Centurion Club, free upgrade status with Hilton and Marriott, and also get points to use. I think it’s $600 a year though.

I too have this but I haven’t figured out how to get the Hilton and Marriott upgrades though? I connected the card and use it regularly with them but it doesn’t seem to be anything other than an ordinary credit card. So far other than the free TSA screening I’m not seeing the benefits of a $600 card

1 ...

Report Post

Posted by WhoGeaux

Member since Apr 2011

4492 posts

Posted on 3/5/24 at 6:49 pm to prostyleoffensetime

For vendors that charge an additional fee to use a credit card, what would be a threshold to where it would still be a net positive for the rewards that could be earned and utilized personally?

Just thinking, the fee to use a credit card would be deductible business expense, so if you have a vendor charging 2.5% what would be the true cost of that fee when you take into account the reduction in taxable income?

I have been racking my brain on what the threshold would be for paying fees to utilize a credit card and still coming out ahead. Cap one you get 2 points for dollar and each point can easily be redeemed for greater than one cent when utilizing transfer partners.

Anyone ever ran the numbers on something like this?

0 ...

Report Post

Money Talk - Replies to Post

Return To Board

Page 1

Return To Board