Business credit cards???

I

imported_kgb

New member
What have you professionals found to be a good credit card for your business? e just got an American Express and I don't like having to pay it off in full every month.

Thanks
 
I don't care for the anual fee's that AE cards charges you. I have MC and Visa cards and find them both ok . Which ever card you have its a good idea to pay the card off each month due to the high interest rates . If you can get a 0% interest rate then by all means use it like a short term loan , just make sure your saving money on the side to pay it off when the 0% runs out .



Another thing to look out for is rewards programs , if your going to spend regardless its to your benifit to get something back on your money .
 
American Express Platinum Corporate, that's what I used to have when I owned two businesses. Now, I have an Amex Gold for personal use. I don't carry balances on my cards because I don't like paying interest, so I pay them all off every month regardless of what it's for. I use my cc's so I don't have to carry cash either, and the good thing about Amex is the Rewards. You can buy all kinds of goodies with it. Granted, I have a Visa and a MasterCard too, but I never use them.
 
JDookie said:
American Express Platinum Corporate, that's what I used to have when I owned two businesses.
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My folk's best friends (the husband) has an American Express Centurion black card! :woot:



Definately find a card that has some sort of promotional 0% APR for a while plus a rewards program. This way, you'll be able to make larger purchases and pay them off (or most of it hopefully) in the allotted 0% window and cash in with the rewards points..



Plus, it'll be much easier to track your expenditures with one dedicated card. Save your statements and tally your expenses each month from the card in a program like QuickBooks Pro.



My friend uses his personal card for his job and gets reimbursed. He uses the rewards points to buy awesome stuff. Last year he was reimbursed $16k for business related expenses. He bought a bounty of Omaha steaks, filet mignons, burgers, chicken, hot dogs, etc... for his deep freezer. We grill like champs during the spring and summer :D
 
Spilchy said:
My folk's best friends (the husband) has an American Express Centurion black card! :woot:
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Talk about one heck of an annual fee! Isn't that thing something like $1,000 per year to have? In 12 years of owning retail businesses I only saw one of those.
 
JDookie said:
Talk about one heck of an annual fee! Isn't that thing something like $1,000 per year to have? In 12 years of owning retail businesses I only saw one of those.
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Actually, I think it's $2500 a year and you need to charge a minimum of $5000 a month for personal expenditures. Amex invites you to be a member. The perks are insane.



If you're charging like that, $2,500 a year is peanuts.



We went on vacation with them to the island of Anguilla on their dime. It was $8,000 a night for everyone combined. (I asked the concierge how much something like this would go for if I wanted to book a reservation). And here I am dreading paying back my $10k student loan :scared: while handling routine monthly expenses. I know, I'll use a 0% APR credit card!! :chuckle:
 
Well, if you are using it to operate a business, $5,000 a month really isn't that much. You have to be invited to anyting over a Gold card, and they send me invites for the personal Platinum constantly, which I used to have, but I got tired of paying the $300 a year fee. I couldn't imagine a $2,500 annual fee! That's nuts! For that kind of money, the perks better be good! :shocked
 
I charge everything in my business on the MC GM card. No annual fee. I dont acre about interest rates, I pay off the total every month. But I figure i can build some GM reward cash and pts towards a new car in a year or two. (of course I'm a GM fan)
 
You have to be invited to anyting over a Gold card, and they send me invites for the personal Platinum constantly,
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Yeah, I get those invites all the time, tempted, but can't justify the now 395/yr fee for the platinum. I know a guy who had a platinum for half a year before they invited him to black, I believe the trigger was charging 100 or 150k a year. He did it easy by buying a car on his platinum. Yes, the black is 2500 a year.. to get to use a card.. unbelievable... Perks, recognition, and the wow factor is pretty cool though.
 
Well, they can invite me all they want. That's just nuts! The biggest single purchase I ever made with my Amex was using it for my $30,000 down payment on my truck. I did it for the points, and because it was just easier than dealing with getting a certified check and everything from the bank. I walked into the dealer with my license and credit card, and left with a brand new truck. Pretty fun.
 
JDookie said:
Well, they can invite me all they want.
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You wouldn't be invited. That card is not advertised by Amex (just a little on their site), you can not apply for it, nor do they send those form letters to people. I too get those Platinum Business card offers and Gold Card offers in the mail (both of which I used at my old job). It's because I have an Amex and good credit. Everyone gets them. Instead you are picked out by Amex officials and personally invited.



The Centurion card is for a select few of extroidinary wealth who charge more than $150,000 anually for PERSONAL expenses.
 
JDookie said:
I was referring to the Platinum personal card at $395 per year.
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Oh, my bad. Gotcha. I too wouldn't pay it! My boss and I would debate it every year with the Platinum card and ended up keeping the basic Gold card with the $75 a year fee per card.
 
That's exactly what I ended up doing. Actually, I got the Gold Rewards card for me and my fiance, and it serves us just fine.
 
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