Business Credit Card with Rewards

[SouthSoundTree]

Looking to start using a credit card rather than a debit. I figure that I can't beat 'em, might as well join 'em (credit card companies with their processing fees). We fly Southwest to OKC and Chicago regularly, so I was considering this one https://creditcards.chase.com/a1/so...rketingSouthwestPremier/sea/na/SWALandingPage, but am by no means stuck on it.

Any others that people are using?

 

[lumberjack]

Chase Ink here. $700+ in cash back since May or June.

 

[pantheraba]

REI Visa...we get 1% back on everything. 5% back on REI goodies.

It adds up pretty well.

https://www.usbank.com/cgi_w/cfm/credit/rei/usb_rei.cfm

 

[lumberjack]

With chase I get 1% on everything, 2% on fuel and some other stuff, 5% on office supplies, cell phones and some other stuff. No limit on the 1% and $25k limit on the extra 1% and 4%.

 

[SouthSoundTree]

Nice

 

[lumberjack]

I also have a Lowes card for 5% off or 6 months interest free as well.

 

[vharrison]

We use Chase ink as well. Those points add up quick with as many trucks we have on the road. I use our points for airplane tickets. Flying for "free" is a beautiful thing.

 

[lumberjack]

Does yours have the same $25k cap on the extra 1% for fuel?

 

[vharrison]

Not sure Carl, I will look into it.

 

[brendonv]

I'm interested in this. Is there a monthly fee with the cash back cards?

 

[lumberjack]

Not on mine. 10.24% interest if you're into that kinda thing.

 

[rangerdanger]

I'm going to have too have dad look into these.

 

[lumberjack]

I was using a debit card for a few years... figured why not get cash back? The last time I ran the numbers I was averaging 2.2% back on 30 something thousand dollars.

Also on my card, with the first purchase they give me $250 cash back. I bought a pack of gum....

 

[FJR]

The business credit card is a no brainer. I picked up the go pro 2 with the points. I try to run as much business expense as possible through the card. If it the expenses are the same that you would write with a check, and you pay your balance off each month, then it is essentially free money.

 

[lumberjack]

Exactly.

 

[Tucker943]

Running a business off of a credit card is awesome for those that have the discipline. For many, its their demise. Ive known more then one guy to try and switch to running off of a credit card and couldn't hold themselves back on the real cash they had available until later in the month.....

 

[SouthSoundTree]

I've been down the CC road in college, and used it while starting up the business. Part of the reason I stuck to the Debit for the last several years. I think and hope that I'm at that point where I won't say "D'oh!!". Just getting around to it, and with Erik managing things, I've been shuffling the debit card back and forth, and giving him signed checks. Hope the CC will simplify and get some perks.

I don't like the way the Rewards system works. No free lunch. Merchants will just be pushing up prices to compensate for more and more people using CCs. I add the charge to the bid, in a hidden way, when I know they want to use a CC for rewards. Why should I buy my customer things? That's why I say, if I can't beat 'em, join 'em. I'll lose out if I don't.

 

[MasterBlaster]

Nothing is free...

 

[lumberjack]

The markup for credit card use only matters if they will give a debit/cash/check discount.

 

[treesmith]

Also on my card, with the first purchase they give me $250 cash back. I bought a pack of gum....

And he not only didn't offer to share the money....he didn't even offer me any gum!

 

[vharrison]

I'm interested in this. Is there a monthly fee with the cash back cards?

Not with Case Ink.

 

[bonner1040]

With chase I get 1% on everything, 2% on fuel and some other stuff, 5% on office supplies, cell phones and some other stuff. No limit on the 1% and $25k limit on the extra 1% and 4%.

The 25k limits, thats on eligible purchases or amount rewarded? In other words the extra 15 & 4% can only equal $250/year in cash back additional to the 1% on all purchases?

If so you get 1% on everything and $250/year basically...Right? Or can you get up to $25,000 back?

 

[HolmenTree]

Across the fence here in Canada I use Bank of Montreal [BMO] Mastercard. I got 2 cards one for business only , one for personal use. My wife has a personal one too. We pay everything by Mastercard, groceries ,insurance etc etc . The accountant loves it for my business ,only one account to cross reference all my business spending to.

No fees or interest what so ever, as long as we pay off the balance to zero by every month's statement deadline. For bonus we get Air Miles which entitles us to merchandise from their catalog or air travel free miles [we only use the air travel].

With the Air Miles we get every year from our 3 cards it pays for our yearly Mexican winter vacation trip for us and our 3 kids.

 

[lumberjack]

The 25k limits, thats on eligible purchases or amount rewarded? In other words the extra 15 & 4% can only equal $250/year in cash back additional to the 1% on all purchases?

If so you get 1% on everything and $250/year basically...Right? Or can you get up to $25,000 back?

Na, 1% on everything is unlimited. The extra 1% for fuel and 4% for the other stuff are individually limited to $25k per year.

 

[NickfromWI]

Running a business off of a credit card is awesome for those that have the discipline. For many, its their demise.

Right after college I racked up $30,000 in cc debt. It took me from 2001-2009 to get it all paid off. When I was younger, I just wanted MORE STUFF!

It's not even worth the risk to me. I run the whole biz off the debit card. We did just over $100K in biz last year. So for me I say, "Is the risk of buying crap I don't need and possibly end up in the hole again worth $1,000 at the end of the year?"

F no.

You can have your rewards. Not worrying about a credit card balance is my reward.

love
nick