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I currently use a paypal debit card for all expenses and I use a business checking account to “pay myself”.
Once managed payments comes along I’m going to abandon paypal and go to using a business credit card for all expenses including shipping and inventory purchases and pay it off weekly with the checking account ebay deposits into.In 2018 I had over $16k in expenses and almost $8k in inventory purchases. So I’d be spending almost $25k on this card annually.
I’m no expert in cards points, but I’m sure there are some scavengers on here that are big into optimizing card points.
Anybody have any advice on what card to get?
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$35k isnt anything to sneeze at, but unfortunately card companies have really raised the limits on their rewards since CC points has become such a craze.
Best card? Just depends on what you want? Travel? Hotels? Cash back? Amazon credit?
The Chase Sapphire is the card most people say is the most versatile:
https://creditcards.chase.com/rewards-credit-cards/chase-sapphire-preferred
The points can be redeemed across multiple hotel and travel carriers. -
We are planning the same thing. Our bank provided Business Enhanced Visa Crad when we originally opened our bznz checking. It provides points which can be redeemed for cash. Every few months we redeem for $200 and $250 and that goes directly into our bznz checking account.
We have but never used our PayPal Debit card much plus debit cards are not safe to carry around. Once managed payments are here to stay and we transition, we will continue to use the same bznz Visa card and have most of everything run through it. We already have Ebay charge our Ebay invoice to our card. We un about $1,250 to $1,750 through it per month = approx. $18,000 +/-
We try to keep as little as possible in our PayPal acc’t and move money from them to our bznz checking every week or so depending on sales etc.
mike at MDCGFA
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I was also looking at the hilton honors card. We like staying at Embassy suites whenever possible when traveling. The breakfast alone there saves me a crap ton of money considering I travel with 3 adults and 5 kids when my MIL comes with us.
With their yearly fee card you get a free night every year. Combine that with the points I earn and the 125k bonus points at signup, I’d get multiple nights the first year and 2-3 nights every year after that.
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I don’t know for sure what I am going to do when I have to switch to MP. I’ve been using my PayPal debit card for my shipping charges and eBay fees, I get 1% back on that. That’s not going to work when the money stops flowing into my PayPal account, so I will probably shop for a credit card at that time and compare to the cards I have now (0 balance on those).
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I know it goes against current thinking, but I don’t own a credit card. I have a rewards debit card with a credit union and am very happy with it. The service is exceptional, they pay me interest on positive balances, and I get cool stuff when I’ve racked up enough points. Another plus – I used the same credit union to finance the house and got a 2% mortgage. I’ve travelled the world, rented cars Stateside and overseas, and paid for airline tickets with it locally and overseas, so I’ve had no problems with the commonly held belief that you need a credit card for those things. Also, on the safety side of things, they’re more on top of it than I am. I’ve been really impressed. I honestly feel that the credit union debit card has been better for me than our bank debit card.
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How far down the rabbit hole do you want to go. I know people who switch credits cards every 6-12 months to find the best deals and programs possible (too much work for me).
In my personal / business life I have 2 cards I like.
I do a lot of travel on Southwest and have found the Southwest Visa card to be an excellent source for free travel.
The card companies are always changing their promotions – this year I got a Chase Ink Visa card and received a $500.00 credit after I spent 3k (best return on investment this year!). There is some sort of rebate program after the $500.00 payout but I need to do much homework and figure out if this is still the best deal
If you enjoy scouring the net for these types of deals just start looking and read the fine print. Any card that offers you points, is hoping that you will carry a balance. So never never never carry a balance.
If you are the type of person who forgets to make payments, or sometimes falls behind stick with a debit card – the points you receive will never exceed the value of carrying a balance.
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