Best Credit Card for Business Expenses?

Updated on May 01, 2013
A.B. asks from Pittsburgh, PA
4 answers

Hi all,

I've just recently become a product consultant for an essential oils company. I'm new to business and there is much to learn! Obviously, in trying to get things started, I'm making some personal investments in products, samples, etc and have been told to track them for tax purposes. I've been told that it would be a good idea to get a dedicated credit card for my business expenses. Can anyone recommend one? We don't fly a lot, so I don't know that a miles program would be necessary, but are there others that do "points" or other incentives? Are there any that don't have an annual fee?

I'm open to any other business advice you may have as well - TIA!

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More Answers

M.S.

answers from Pittsburgh on

I would recommend subscribing to The Points Guy blog, http://thepointsguy.com/ - even if you're not interested in credit card perks/miles/rewards, he gives info on what's best about which cards. My boss, who's executive level at 7 different companies, prefers Chase Sapphire (their customer service is phenomenal) and Amex Rewards. He has several open at a time, but these never get closed.

You want to be careful about not piercing the corporate veil. If you get cards in your name (because they might be easier to get, since the business is new), you need to make sure that the company does not directly pay the balance on those cards (the company needs to reimburse you personally, and you need to pay the card). Good luck!

2 moms found this helpful

T.F.

answers from Dallas on

Well if this is a MLM , please be sure you've read all the fine print. Do not purchase inventory. I hope you've not been blindsided by some if these schemers ( not all bad , but most are)

We own and run our company ( non MLM, direct marketing). We are a solid company in raw materials with about a 4 million in sales per year and increasing.

We run all company expenses through our secondary account with Chase. We love this account with NO fees. I usually get cash back for about $500 each 6 months which we apply directly back to the card where expenses are incurred.

Be on the lookout for fees. Do NOT and I mean NEVER EVER carry a balance. Pay everything in full and ahead if you anticipate expenses.

We don't do air miles anymore. The restrictions are too stiff and cash back is much easier and best for us.

Good luck!

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T.R.

answers from Orlando on

American Express Business Card-

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P.M.

answers from Harrisburg on

We use a Capital One card. ("What's in your wallet?" commercials.) It's very easy to redeem points. You can use them to offset any purchases.

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