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Posted on 7/13/16 at 12:24 am
Posted on 7/13/16 at 12:24 am
(no message)
This post was edited on 8/16/16 at 2:55 pm
4
Posted on 7/13/16 at 2:02 am to DarthTiger
I would say the Chase Ink +. I also have the SPG biz card. But the Chase has 5x points on bills like utilities, phone, internet, etc. I'll easily get a round trip ticket every year from just those categories. Let me know if you want to apply and I can send you a link. You'll get 60,000 points after $5k spend.
Oh, just realized you're looking for a low APR as you're going to carry a balance. You may want to look for something with a first year or two 0% APR. But you won't get the best rewards cards. Just checked and Capital One has Quicksilver and VentureOne with some 0% APR offers and they earn cash back or miles. But after the 0% goes away it's likely a 15%+ type APR.
You'll have to choose low APR card or a mileage/points card. Not sure if you can get both. I could be wrong though.
Oh, just realized you're looking for a low APR as you're going to carry a balance. You may want to look for something with a first year or two 0% APR. But you won't get the best rewards cards. Just checked and Capital One has Quicksilver and VentureOne with some 0% APR offers and they earn cash back or miles. But after the 0% goes away it's likely a 15%+ type APR.
You'll have to choose low APR card or a mileage/points card. Not sure if you can get both. I could be wrong though.
Posted on 7/13/16 at 7:33 am to DarthTiger
quote:
I mainly just want to buy the expensive equipment, pay that off, and keep the card for additional small purchases.
It seems that you're looking for a lender who will give you a 0% APR unsecured loan for a short period, with no follow-on business.
Best of luck to you.
Posted on 7/13/16 at 8:01 am to DarthTiger
quote:
I have to purchase some expensive equipment so I need one with as low an APR & interest rate as I can get.
Yo uprobably are best going with a personal card with 0% for a few months and keeping receipts of business purchases.
Posted on 7/13/16 at 9:13 am to DarthTiger
I have a suggestion for you. Are you looking into racking up rewards points on business purchases at all? There is a way of getting that plus the 0% intro APR with no cost to you.
Option 1:
Step 1: Get Citi Simplicity. This card comes with a 21 month intro APR. To my knowledge, this is the most I have seen for any card. Downside is that this is a personal card and therefore may or may not come with the CL you are looking for. You can always look for an increase. This card also racks up no rewards but is the most hassle free option.
Option 2:
Step 1: Get 1 or more rewards cards that come with a big sign up bonus. You will be able to meet the minimum spending requirements on multiple cards and rack up some substantial rewards due to your high spend. I would recommend:
- Chase Ink: This is a Business card and racks up substantial rewards for your usual business spending (Favorable 5x bonus categories). 60K points after $5K spending
Step 2: Get the Chase Slate a month later. This card offers $0 fees on balance transfers made within first 10 days of account opening. Also comes with 15 month intro APR.
Step 3: Make the balance transfer out of your rewards credit card in step 1 to Chase slate in step 2.
This way you get the rewards, you get the intro APR and you have the Chase Ink for regular business spending after the initial purchase. All this at $0 to you. (Ink has $95 annual fee).
Option 1:
Step 1: Get Citi Simplicity. This card comes with a 21 month intro APR. To my knowledge, this is the most I have seen for any card. Downside is that this is a personal card and therefore may or may not come with the CL you are looking for. You can always look for an increase. This card also racks up no rewards but is the most hassle free option.
Option 2:
Step 1: Get 1 or more rewards cards that come with a big sign up bonus. You will be able to meet the minimum spending requirements on multiple cards and rack up some substantial rewards due to your high spend. I would recommend:
- Chase Ink: This is a Business card and racks up substantial rewards for your usual business spending (Favorable 5x bonus categories). 60K points after $5K spending
Step 2: Get the Chase Slate a month later. This card offers $0 fees on balance transfers made within first 10 days of account opening. Also comes with 15 month intro APR.
Step 3: Make the balance transfer out of your rewards credit card in step 1 to Chase slate in step 2.
This way you get the rewards, you get the intro APR and you have the Chase Ink for regular business spending after the initial purchase. All this at $0 to you. (Ink has $95 annual fee).
This post was edited on 7/13/16 at 9:14 am
Posted on 7/13/16 at 8:42 pm to AmeriKop45
(no message)
This post was edited on 8/16/16 at 2:55 pm
Posted on 7/14/16 at 12:26 pm to DarthTiger
I'm curious OP how much are you looking to pay for originally? Are you talking $2500ish, 10,000, 50,000? You may be better off looking at a Line of Credit if you have good credit personally.
I'm looking to get one too, none of my expenses outside of utilities are in any of the categories that most business cards give extra points.
I'm looking to get one too, none of my expenses outside of utilities are in any of the categories that most business cards give extra points.
Posted on 7/14/16 at 2:08 pm to baldona
Gas/Utilities/Office Stores? Remember - you can buy other vendor GCs at office stores. If you don't mind me asking - what business are you in and what kind of expenses do you usually incur?
Posted on 7/14/16 at 3:55 pm to baldona
(no message)
This post was edited on 8/16/16 at 2:56 pm
Posted on 7/14/16 at 4:04 pm to DarthTiger
quote:
I'll be purchasing around $5-7k of equipment for the business. After that, the card will be used to purchase additional small necessities for my work.
Getting a personal card may be the way to go. A 10-15k credit line would probably be sufficient.
Business and good rewards CC have much higher interest rates. I personally would not worry about points or rewards when starting a business. If you are up and running with $30k in expenses a year that you can pay off monthly that is different.
So yeah I'd probably look hard at a personal CC and only use for this business.
Posted on 7/14/16 at 4:07 pm to AmeriKop45
quote:
Gas/Utilities/Office Stores? Remember - you can buy other vendor GCs at office stores. If you don't mind me asking - what business are you in and what kind of expenses do you usually incur?
If you are talking about me, my business I'm looking at getting a business card for is property management. I have $50-70k of expenses every year, I currently just use a debit card for.
I prefer to keep my book keeping simple, I don't think it makes sense for a business even a small business to buy gift cards at one store and then pay for things at another. That just seems like a book keeping nightmare.
Posted on 7/14/16 at 8:19 pm to baldona
If your 50-70k is at home improvement stores like Lowe's or Home depot, you can reduce your costs by 10-15% immediately by buying discounted gcs. Using ink at staples or office depot to buy gcs will give you at a minimum a 5% rebate on your expenses. The bookkeeping isn't that much more complicated from first hand experience - Recognize (prepaid) expense then credit expense as you allocate costs throughout the usage. It's your prerogative and preference obviously.
This post was edited on 7/14/16 at 8:47 pm
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