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| Massive welcome offers |
| by Brian Kelly |
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Business credit cards are core to my points strategy and can be super lucrative for earning points. I love imagining where a six-figure sign-up bonus will take me, and right now, there are three ways you could earn a bonus this big.
Business credit cards offer juicy sign-up bonuses, but before you think you might not qualify, keep reading.
Even if you don’t have a physical shop or employees, you could qualify for a business card with a side hustle or freelance gig. Do you sell items on Etsy, Facebook Marketplace or eBay? Do you have rental properties? Do you offer a service like tutoring or dog walking? All qualify as businesses.
You can even have a concept of a business in your head that you want to start — as someone who started The Points Guy as a concept, I highly recommend getting a business credit card and keeping your business and personal finances separate.
Ink Business Preferred Credit Card
Sign-up bonuses on business cards are usually larger than those on personal credit cards. The Ink Business Preferred® Credit Card is currently offering 100,000 Ultimate Rewards points after you spend $8,000 in the first three months from account opening, down from the previous spending requirement of $15,000.
According to TPG’s June 2024 valuations, those 100,000 points are worth $2,050 when transferred to one of the bank’s 14 airline and hotel partners, which is how I always use them.
It’s known as one of the best business cards on the market due to its lucrative earning categories and reasonable $95 annual fee.
The Business Platinum Card from American Express
Another great business card is The Business Platinum Card® from American Express, which is currently offering an elevated 150,000 Membership Rewards points after you spend $20,000 on eligible purchases with your card within the first three months of card membership.
The 150,000 points are worth a whopping $3,000, according to TPG’s June 2024 valuations.
This card comes with an array of travel perks and statement credits that help offset the annual fee, such as Centurion Lounge access, up to $200 in annual statement credit for airline fees, up to $189 in statement credit for Clear Plus and up to $100 toward TSA PreCheck or Global Entry. (Enrollment is required for select benefits.)
Capital One Venture X Business
The Capital One Venture X Business currently offers 150,000 bonus miles once you spend $30,000 in the first three months after opening an account.
While the Venture X Business has a $395 annual fee, it basically pays for itself with the $300 annual travel credit valid in the Capital One Travel booking site and the 10,000 bonus miles at each renewal, which I value at close to $200.
In fact, this is the card that I use for my own small businesses, such as the farm I have in Pennsylvania, to keep things easy for everyone buying supplies since it earns 2 miles per dollar on all everyday charges.
There are also valuable perks, such as access to the growing network of Capital One Lounges.
How to apply for a business credit card
Applying for a business card can be intimidating, but it doesn’t have to be. Here’s what you need to know.
You can get a business credit card by applying as a sole proprietorship; you don’t need to have an LLC. The application will ask for your business name — this is just your legal first name and last name — and your tax identification number is your Social Security number. Check out this story for more information.
Bottom line
There are even business cards with no annual fees and ones that offer cash back, so it all depends on your business and preferred earning style. If you need help deciding which of the three huge sign-up bonuses above is best for you, you can compare them here.
While the interest rates might be a bit higher on business cards— you have to pay them off in full each month to win — the perks can be lucrative.
You are simply leaving points on the table if you’re not considering business credit cards in your points-earning strategy.
Have a great weekend,
BK
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| Photo Credit: WYATT SMITH/THE POINTS GUY. |
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