PDA

View Full Version : Business Credit Card


jequigle
01-23-2012, 12:03 PM
I am looking into opening a business credit card but am unsure of which one. What do you all use? Perks? Cash back?

grass-scapes
01-27-2012, 06:32 PM
I would do a cash back. Better yet, I would do a simple card with lower interest. Keep in mind that the changes made to the credit card laws a few years ago did not affect business cards. They can change terms as they see fit, no grace period, etc.

clydebusa
01-27-2012, 06:51 PM
I like capital one with cash back. Like free money!

FLC2000
01-28-2012, 09:42 AM
Id pay cash...

clydebusa
01-28-2012, 09:51 AM
Several advantages of credit cards. Unexpected expenses, you loose it you not out the cash, extended warranty, clout to return faulty equipment, rental equipment, last but not least list of what you spent for the month or year so when you loose the receipt you still have copy of the purchase.

BeachysLawn
01-28-2012, 10:42 AM
Sounds a lot like the advantages of a debit card :)

PlantscapeSolutions
01-29-2012, 02:55 AM
My Chase Visa puts at least $500 a year in my pocket for fuel purchases. Best of all there are no taxes on the income.

jackal
01-29-2012, 08:58 AM
I have both a Chase personal card and business card. The personal card has 5% cash back in the first and third quarters up to $1500 each quarter. The bus card has 5% office expenses and phone service, 2% everything else.

JBNC
01-29-2012, 09:07 AM
Definitely get some kind of rewards card, cash back is always nice. I know someone who uses a disney credit card for almost all purchases and goes on a free trip every year from the rewards(not just disney world either, you can do cruises and other things)

JBNC
01-29-2012, 09:08 AM
Sounds a lot like the advantages of a debit card :)

except you don't have the potential to get any cash/rewards back with your debit card.

FLC2000
01-29-2012, 09:56 AM
Several advantages of credit cards. Unexpected expenses, you loose it you not out the cash, extended warranty, clout to return faulty equipment, rental equipment, last but not least list of what you spent for the month or year so when you loose the receipt you still have copy of the purchase.



Not to be nitpicking but the proper spelling is "lose".

Several disadvantages are interest rates. Why pay $120 for a $100 item? On top of that if you dont pay it off that month you are paying even more. A person can spend hundreds or even thousands more on an item just due to interest rates and monthly fees.

Exended warranties can be purchased with cash.

Keep your reciept if you want to return something. Buying it with a CC doesnt help you.

It's also not a copy of the reciept. All a CC statement shows is that you bought something. Not what it was.

Not all credit is bad. Most people need it. But carrying around a credit card is a bad idea. If a person cant pay cash for certain items then they should not buy it.

JBNC
01-29-2012, 10:32 AM
If you're smart about it you would buy stuff on credit card and get the rewards, let the money you would have spent on the credit card sit in a savings account and earn interest. Just make sure you pay it off every month to avoid CC interest.

BeachysLawn
01-29-2012, 02:19 PM
except you don't have the potential to get any cash/rewards back with your debit card.

Actually you can get cash rewards with your debit card. Check out perkstreet.com for an example.

BeachysLawn
01-29-2012, 02:29 PM
If you're smart about it you would buy stuff on credit card and get the rewards, let the money you would have spent on the credit card sit in a savings account and earn interest. . .

You mean earn that whopping 1% the banks are handing out now. . .if you get lucky that is? :laugh:

We don't personally use credit cards because I am certain we will be further ahead in the long run developing the habit of paying cash. And I also buy less because I feel the pain of the purchase immediately.

I don't care if you use them, its just funny the reasons I hear people give for why they use them.

Daily Lawn/Landscape
01-29-2012, 03:17 PM
The cash back programs are something you will pay for at some point. If you need emergency money, save it, or go to the bank and get a line of credit. The line would be a little less risky. Started my business 10 yrs ago with cash and to this day, everything is purchased with check or debit card. No sweating a payment due date here.

James