What credit card(s) do you recommend for financing your AM business?

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NamEno

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[SOLVED] What credit card(s) do you recommend for financing your AM business?

I've been relying on a Capital One credit card to finance my business. Would anyone feel comfortable recommending what credit card(s) you use and if there are any benefits that you feel make using that particular card helpful?

I'm not really getting much out of my CO card aside from racking up mile points that I can redeem for cash at a 10-to-1 ratio of mile points to dollars.
 
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This has been discussed several times, the plum card from amex always wins.
 
Amex is the best choice, but be prepared if you do any volume to supply them with 2 years tax returns, first born etc.

I signed up for a Marriot Chase Visa and got a decent limit and just signed up for a Virgin Visa and got one on it too when I booked my flight for ASE.
 
HockeyFan said:
Amex is the best choice, but be prepared if you do any volume to supply them with 2 years tax returns, first born etc.
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This happened to me after I started keeping high balances with them. They wanted 2 years tax returns, complete balance sheet, profit/loss statements, etc... Having not even been incorporated for a little over a year If I sent them everything they would drop me as client.. What BS. Now I have to pay them 4x a month to keep my account.
 
NormanNormal said:
This happened to me after I started keeping high balances with them. They wanted 2 years tax returns, complete balance sheet, profit/loss statements, etc... Having not even been incorporated for a little over a year If I sent them everything they would drop me as client.. What BS. Now I have to pay them 4x a month to keep my account.
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what kind of balances?
 
If you cant get the AMEX, get Bank of America. 1.25% cashback that you can cashout at anytime. Sure its not AMEX, but not that bad of an alternative.
 
BofA Purchasing Corporate card has some pretty sweet features. I have a plum and the 2% cash back is great but honestly there's some stuff BofA has to offer that makes the only 1% cash back well worth it.
 
Would have thought people on here would have a few credit card affiliate sites in their arsenal which make it easy to sort the offers.

A couple of thoughts:
1) Get a Cashback or points card - work out if the points are more than X% cashback. I'm not in the US but my card has 5% cashback for US purchases at the moment. I do get hit with 1% conversion fees though. Points often end up 0.1-1% in actual value for most cards but since it's a bigger number it makes the holder feel better. Look for side benefits and try to fiind a card that offers some free stuff on top (with or without minimum spends). Mine has free roadside assistance plus life insurance at no cost. Some other useful things are things like airline/hotel partners as mentioned in above posts where you get upper tier standing in loyalty programs. Plenty of forums discussing these types of cards.
2) Spend your money.
3) Profit - Once you have maxed out those cards get a 0% for X month card and float your costs by doing a balance transfer. Some people make money by floating on 0% cards and putting it into savings accounts (or something more risky like stocks). The 0% has been drying up since some decided to go and fake a crisis.
 
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Grandfathered @ 2% ala Plum - FTWWWWW

(and yes, they do look up your ass if you carry a high balance - paying weekly here too)
 
WesMahler said:
here is some stuff paul and I wrote a long time on ppc ccs
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Something wrong with the concepts in your articles
"You can earn a lot of extra-cash by using credit cards that have rewards,"

Sounds like Amway mentality to me. Somehow I don't see anyone earning a lot of extra cash using that logic. Let's take Yahoo at a generous 5% up to $500, that's a spend of $10,000 per card per year, that's not a lot of extra cash really, yeah it's a nice bonus but really it's nothing ground breaking. At a standard 0.5-2% value of spend for most rewards programs there just isn't room for "a lot of extra cash" per card. If you're at a higher level of spend you wouldn't be looking at nickel and dime options like that you would get on the phone to the account manager and tell them to cut your rates due to your volume then tell them to cut the rate again and you'll do a wire to save them some merchant fees, should easily save over 5% on published rates. Don't tell me "they don't play that game".

Also you mention
"So just think, while your getting 5% cash-back for using an AMEX Business Card with Yahoo SEM, you could also combine that by using an AMEX Blue-Cash Card and receive an additional 5% cash-back on-top of the other 5%!"

Combine? 5% on top of the 5%? It's late where I am so maybe this makes sense to someone else but you use one card or the other to pay not both. Or are you paying off with the Business card then doing a balance transfer for 5%? If you're just using multiple cards to get constant 5% off then that is not 5% on top of 5% in my world but a flat 5% off while you're juggling cards.

I'm surprised you didn't throw in a 0% for 12 months card amongst all that, couldn't find one from your affiliate network? Try cardoffers or ncsreporting, you'll have your legions love you for a 0% 6-12month float tip. They can screw themselves into the ground for much longer and rack up bigger bills that way using fuzzy maths and the concept that getting a 5% discount is somehow making "a lot of extra cash". Convince them that signing up for one of those cards makes a $7777 course all the more affordable as they can pay it off in installments at their own pace.

Also why bother with the open space available for advertising? Having so much blank makes things look desperate, go throw some CPA in there and at least pretend someone put money there, leave one open and sell it based on "last available" then when someone buys it take one of the CPAs off a few days later and "last spot" is open again. Or heck go find an ebook peddler to "JV" with. Make the CPA ad links no-follow if you're so paranoid about losing link-juice. You might just get some extra cash from it and end up getting a paid advertiser if they don't feel like they're being publicly made a laughing stock of being the only one to put money down to take 1 of your 6 available ad spots. Also makes you look more credible to readers.
 
^^ This post is wrong on so many levels.

1. Nobody in this industry cares about the card's interest rate. We get weekly wires and pay it off every month.

2. LOL @ $10K spend per year.

3. You can earn a decent amount of cash from these cards. I am taking my family of four on an all expense paid vacation using my starwoods points and a few months ago I got $4000 cash back on my plum card. It's a nice bonus.
 
cdc said:
^^ This post is wrong on so many levels.
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Maybe if you lack comprehension skills.

1. I call Bullshit! Look up the term, "leverage", when you're serious about making money. Someone gives you 100k+ for a year interest free and you don't care? You can get points and percentages for when you balance transfer with a number of cards as well, but I wouldn't expect you to understand the finer points of floating easy money on CCs, never mind if you actually throw it somewhere useful for 12 months. So you get a 2% discount from your plum card then BT it and make another 1-4% from the card you transfer it to and you get to play with your change for a whole year. Since you have such a hard on for your 2% i'm pretty sure an extra few % for free just made you blow your load all over your keyboard. If you pay it off every month when you don't have to then that's the way you like to play it, doesn't mean it's the best way, you could even play the BT game over and over between some decent cards especially since it sounds like you get excited over 2%. Go to your account manager at the bank and make them earn their money if you're swimming in it. "Nobody cares"? Well nobody is utilising their money to the full extent then, if you're so close to blowing your load for a shitty article and 2% take an extra 30 minutes per purchase and make a shitload more. If you're with Amex and have a Plum and are doing a good volume to have a good relationship but don't also have a free Centurion there is something wrong with you, yes I said free. Sure the Centurion blows compared to a few years ago but it still has some nice features.

2) Yes "LOL @ $10k spend per year" did you even read the article i'm commenting on? That genius is recommending you get several cards and spend 10k on them every year, yeah LOL alright, sounds like LOL at your education for not being able to comprehend an explanation when it's more than one sentence long or has more than one major aspect to it. Why don't you back up your point of view?

3) You sound like one of those Amway guys too, go buy a $1 tube of toothpaste for $5 because "i'm buying from my own business and I can write it off on tax and my upline told me it's concentrated so works out about the same". Great man you spent 200k on your card over whatever period of time you don't specify, congrats. yeah you get benefits, have you tried talking an account manager at the PPC companies and making them earn their money lately? If you don't have a real one why not? Same with your bank, if you're pushing that much through them get them to earn their money too.

Amex isn't crash hot outside of the US either which is why I don't see the fascination with it by the general population apart from the word "American" in it. Even in the US I don't hear much good until Centurion and even then they don't really care unless you're with their Private Banking setup or someone with a bit of pull.

If people are pushing as much as they claim they are and don't have a direct number to at least the branch manager of their bank of choice then they need to grow a pair and start throwing their weight around and start getting treated the way they should and if you have more than 500k in there and the manager can't guarantee you better than 2% for a fucking year then switch banks asap. You can go get a mass afluent Citigold or
HSBC Premier account for around $100k of a relationship it's not that hard to get something happening even with this downturn. If you have more than a million for the bank to put on it's book you better be able to get the same guy to answer your calls 24/7 and send you something nice on your birthday. Any more and we're talking serious pampering. It's the same as affiliate program incentives for those who are having trouble getting the picture but it's not listed on a page where you get a car if you have $X business with the bank.

Work the system guys it's not hard, instead of writing 4 paragraphs trying to imply I don't have a clue, go call your account manager at the bank and tell them to give you a better deal, and if you don't have a named manager tell them to give you one, and if they won't give you one then it's time to cleanse some more colons until you do get to that level.

Disclaimer:
Anyone who enjoys their 2% great, just don't try to call me out without backing your shit up. I've got at least 10 ways to make more than 2% on a purchase off the top of my head. I'm not saying don't enjoy your 2% i'm saying the article has some serious problems with it's logic as i've outlined with references. The guy i'm replying to also has a serious lack of understanding the ways to fully utilise his money if he is as much of a big shot as he claims to be. For those starting out yeah I will have different advice that contradicts some of this.

I can write this shit relevant to a newbie, I can write it for a mid level guy, I can write it for a mass affluent prick, I can write it for a rich bastard and I can write it for a wealthy cock sucker. Each case is different, enjoy your 2%, nothing wrong with it. Plenty wrong with the article though apart from the couple of flaws i've pointed out briefly above, but hey it's not like they don't have an obvious bias/agenda pushing one of the highest paying CC affiliate programs, make of that what you will.

And yeah I don't have anything better to do with my time right now than to write this up. I use the quick reply and just write off the top of my head, so if there are typos or there is a problem following my train of thought let me know i'll be glad to put up some more.
 
I'm not trying to get into an epeen contest here about who has the best bank account. If you have advice on how to get more out of a bank or credit card that's actually worth the time you put in, I'd love to hear it. So far you've only talked about playing the "BT game" which is not how I choose to spend my time.

I don't think anybody's keyboard is getting sticky over the 2% that the plum card gives, but I was just pointing out that this statement is flat out wrong:

At a standard 0.5-2% value of spend for most rewards programs there just isn't room for "a lot of extra cash" per card.
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The $4K/month that I am getting from my Plum card is more than alot of people in this country make a year, so I personally think that's "a lot of extra cash."
 
Demarketer you are a fucking retard. Not to mention you got things upside down. It's small spenders that are better off looking at other ways to save/make money and/or get benefits. To anyone doing decent numbers any charges the bank has can pretty much be overlooked. Outside of that, banks won't be able to match Amex or similar offers. HSBC Premier while neat, is still just a gimmick. And you are also wrong on Amex being crap outside the US.

And before you go on about relations, account managers and whatnot. We are banking with HSBC and have a rep from their commercial banking unit. We have a couple million on net60 credit terms with several bug publishers. We have reps with pretty much every major network/publisher. And I still charge as much to our Amex as possible. And guess what, I'm outside the US. But hey, enjoy your interest free card or whatever again you were on about.
 
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