Small Business Credit Cards...any suggestions?

[ebizimage]

No suggestion...

When I looked around for a business credit card a year ago, I couldn't find anything 'free'. Business card also do not come with any (or only very little) 'points'.

I now use one of my personl credit cards for all my business use. When the bill comes, I reimburse myself using company cheque.

I'm curious to know what option is available now.

Try BMO's Mosiac with airmiles for business or Amex's business cash rebate one. If you are willing to pay annual fee, you can get more reward.

[aimie]

I would go for one that offers Airmiles or Aeroplan miles. This one, http://www.cibccards.com/aerogoldap2001801/ offers 10,000 Aeroplan miles for signing up alone. A free round-trip flight can be had for 25,000 Aeroplan miles.

If you check out a few of the cards offering a similar bonus, it would be easy to rack up free flights.

[brendonp]

I use a CIBC Business Aerogold card. Hefty fee of $200 per year, but I rack up enough points to take my wife and I to Europe every year - worth it, IMO. Also has a 10.9% balance for those of you that don't pay your balance every month - that being said, always pay your balance! However, if you wind up carrying 10-20k on a card one month, the difference between 10.9% and 19.9% can be significant.

[LeafsRbest]

Great post! Maybe this should be a sticky?

Anyways, what if I want to put my bill payments; cable, hydro, gas for my business on the AmEx card, will this work?


Thanks!

[Aquanaut]

Hi guys,

Here is a small update from me. I applied for the RBC Business Visa ($12 annual fee option, no rewards) and got the card in May 06. Have been using it since.

It looks like you need to spend >$10K per year on your card to break-even (annual fees vs. rewards) for most banks' cards. Perhaps AMEX is an exception?

Good luck to all of you...

Aquanaut

[Kaitlyn]

A number of people have said they use their personal card and then pay it from the company account.

Most, if not all, credit cards' terms mention that rewards cannot be applied towards non-personal purchases...

So, aren't you all violating their terms?

[bby]

A number of people have said they use their personal card and then pay it from the company account.

Most, if not all, credit cards' terms mention that rewards cannot be applied towards non-personal purchases...

So, aren't you all violating their terms?

Sounds like it would be interesting if I understood what you were saying.

Did you mean to say something slightly different. Or if I simply don't understand, would you kindly clarify.

[runamuck]

great info guys..

i'll probably end up going with the amex myself.

[got2be]

CreditCards.ca (http://www.creditcards.ca/) is a decent place to compare credit card options. A bit of the information is stale, but mostly current.

I use the CitiBank KidsFutures until I max out my kids RESP contribution on the card, then on to AMEX with airmiles. Both have no annual fees. That's my $0.02.

[Ron]

A number of people have said they use their personal card and then pay it from the company account.

Most, if not all, credit cards' terms mention that rewards cannot be applied towards non-personal purchases...

So, aren't you all violating their terms?

Do you think they really care as long as they are making money on you?

[nolookingca]

A number of people have said they use their personal card and then pay it from the company account.

Most, if not all, credit cards' terms mention that rewards cannot be applied towards non-personal purchases...

So, aren't you all violating their terms?

Actually, if I'm reading this correctly, what people are suggesting is that they get a personal CC, pay it from their personal account, and then get reimbursed from the company for the expenses. Then I assume they use the rewards on personal items.

[Crowbarfoot]

Great post! Maybe this should be a sticky?

Anyways, what if I want to put my bill payments; cable, hydro, gas for my business on the AmEx card, will this work?


Thanks!

Just have those companies bill directly to your card each month if they provide that service.