Author Topic: Best credit card for small business?  (Read 3497 times)

thomasvarney723

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Best credit card for small business?
« on: September 15, 2015, 11:43:44 AM »
Hi, I'm looking for a good credit card for a (very) small business of mine. I would expect that this topic has been discussed here before but my searches didn't uncover anything.

I'll mostly be paying for fuel for a truck and should total $10-15k per year. Of course, I'll be paying off the balance every billing cycle. I suppose I'm mostly looking for low fees but of course cash back and other perks are nice too.

Do any of you mustachians have any favorites?


sb_NoVA

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Re: Best credit card for small business?
« Reply #1 on: September 23, 2015, 04:44:07 AM »
Are you a member at Penfed? 

You should look into Penfed Platinum Cash Rewards Plus (5% Cash Back at pump)

https://www.penfed.org/Platinum-Cash-Rewards/

Steps:
1. Join Penfed credit union ($10 fee and $5 Share Account)
2.  Open Money Market Savings Account ($25 minimum)
3. Sign up for PF cash rewards credit card
4.  Call them to make sure they convert your CC account to 'plus'
5.  use your credit card at pump and you'd get statements credits automatically, no need to go online to redeem them. 

$0 annual fee - what you waiting for?!? At 15k spend, this should put $750 in your pocket every year with no effort other than setting things up initially with penfed.  You can add additional card members too if you like. 

thomasvarney723

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Re: Best credit card for small business?
« Reply #2 on: September 28, 2015, 07:52:05 PM »
Thanks for the suggestion!

Unfortunately I'm not a member and judging from the requirements listed on Wikipedia it doesn't look like I can qualify. Maybe I'll call their help line and see what they can do.

Jags4186

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Re: Best credit card for small business?
« Reply #3 on: October 03, 2015, 06:53:42 PM »
Capital One Spark is 2% cashback with a $500 bonus.

However I think Chase Ink is even better as you can get 5x ultimate rewards points on office supplies, utilities, etc.  Also comes with a  50000 point bonus (worth at minimum $500, $625 for travel, or more value if you transfer to partners).  If you don't want an annual fee Ink Cash gives you all of the above minus the ability to transfer to partners.

Gretamom

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Re: Best credit card for small business?
« Reply #4 on: October 07, 2015, 07:25:07 AM »
We got a Chase Ink card. My husband and I both got one earlier this summer because they had a huge signup bonus if you spent $5000 in the first 3 months. We ended up (when we put our points together) with 124,000 points which was about $1600 in travel and booked flights / hotel for our family of five to Portland for FREE! The only thing is after a year there is a annual fee of $95, so we might cancel the cards before that and keep one of our other cards that doesn't have an annual fee.

tj

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Re: Best credit card for small business?
« Reply #5 on: November 01, 2015, 04:34:29 PM »
We got a Chase Ink card. My husband and I both got one earlier this summer because they had a huge signup bonus if you spent $5000 in the first 3 months. We ended up (when we put our points together) with 124,000 points which was about $1600 in travel and booked flights / hotel for our family of five to Portland for FREE! The only thing is after a year there is a annual fee of $95, so we might cancel the cards before that and keep one of our other cards that doesn't have an annual fee.

You don't need to cancel it ,just product change it to Chase Ink Cash which has no fees. You still get 5% on the office supplies and phones/internet

 

Wow, a phone plan for fifteen bucks!