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Business credit card rewards, best card ?
Posted on 12/24/23 at 10:40 pm
Posted on 12/24/23 at 10:40 pm
I want to use a credit card for my small business to pay vendors and redeem the rewards in the form of gift cards. Any recommendation on cards that you have done this with. Current one I use only offers statement credits or a check. The check has my name and the business name on it. Cashing with the business name on check is not always optimal. I think a gift card would be optimal since it could be spent on anything. 
6
Posted on 12/25/23 at 10:32 am to Drizzt
Chase also has the Business Premiere for people that make large purchases.
$1,000 Bonus Cash Back after you spend $10,000 on purchases in the first 3 months after account opening
2.5% cash back on every purchase of $5,000 or more
$1,000 Bonus Cash Back after you spend $10,000 on purchases in the first 3 months after account opening
2.5% cash back on every purchase of $5,000 or more
Posted on 12/25/23 at 11:08 am to molsusports
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.
Posted on 12/25/23 at 11:23 am to lgtiger
Chase Ink cards as mentioned are great for sign up bonuses. You can do them multiple time a year if you want. Ink Cash has 5% on internet, cable, and phone services. Also 5% at office supply stores up to $25k spend. The Ink Unlimited has 1.5% everywhere. The Cash and Unlimited are at 90k points for $6k spend. I wouldn't get the Ink Premier. It is only cash back and the points can't be moved to other Chase cards to send to travel partners. The Ink Preferred is 100k points for $8k spend and it gives you the ability to transfer points to travel partners.
It really depends on what you want out of the card. Will you keep it long term? Will you travel a lot? Do you have high spend?
It really depends on what you want out of the card. Will you keep it long term? Will you travel a lot? Do you have high spend?
Posted on 12/25/23 at 1:26 pm to Phate
quote:
Will you keep it long term? Will you travel a lot? Do you have high spend?
Will spend very high, looking to redeem for gift cards or something to spend for myself and not the business. Statement credits are not something I want. I have had some cards that will send me a check as rewards, but they always have the business name on them in addition to mine. This leads to issues with reporting to IRS. Gift cards can be more invisible. Don't travel much.
Posted on 12/25/23 at 5:11 pm to lgtiger
If you only want gift cards, look at Discover. You can redeem points for gift cards. I don’t think the Chase points are an IRS issue but for gift cards I’ve only seen that option with Discover.
Posted on 12/25/23 at 9:46 pm to lgtiger
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?
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
Posted on 12/26/23 at 10:21 pm to Im4datigers
quote:
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
It's not for everyone. It's $695 now. You get Hilton and Marriott Gold, but those statuses aren't that strong. Sometimes you'll get an upgrade. You have to enroll though, so check to make sure you did. Hilton will give you upwards of $25/night per person up to 2 per night for food at least though. The $400 Dell credit, $360 Indeed credit, $200 airline expenses, $189 CLEAR, $100 Global Entry, $120 wireless credit, 35% points back, etc. You can make it work depending on use. I have the personal and biz and likely will get rid of the biz soon as I'm running out of stuff to buy at Dell
Posted on 12/27/23 at 9:29 am to Sho Nuff
I get the phone credit (it’s monthly) and just used the CLEAR credit. Already had Global Entry. It’s hard to use the airline credit as it’s only for purchases outside of tickets and I rarely check a bag. Got a nice Garmin watch with Dell credit. Looking at maybe a backpack or noise cancelling headphones next on Dell but I can definitely see how you would run out of things to buy on the site. The Centurion access is definitely the nicest perk. I’m going to NYC soon and might try the Platinum concierge service.
Posted on 12/27/23 at 10:10 am to Drizzt
quote:
It’s hard to use the airline credit as it’s only for purchases outside of tickets and I rarely check a bag.
Research the United Travel Bank. You can do that towards the end of the year (NOW) in $100 increments.
Posted on 12/27/23 at 10:46 am to Sho Nuff
Thanks for the heads up on United travel bank. I have my Amex credit set to America (best routes from my local airport) but I might switch it over if I can bank credit with United.
Posted on 12/28/23 at 8:57 am to lgtiger
I used to have an Amex Business Platinum. I guess I still do, but I don't use it as much. I switched over to a Cap One Spark for 2% cash back. I come out way ahead on that compared to the Amex.
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?
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?
Posted on 3/5/24 at 8:11 pm to lgtiger
Can you get the chase ink if no income yet? I’m going to try using LLC for a prn job. Then once I learn how to do it run all my work through it. I could pay some taxes for the sign up bonus
Posted on 3/5/24 at 8:55 pm to lgtiger
Capital One Venture X Business card Is offering 300k if you spend $100k in the first six months.
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