As a business owner, you have a distinct advantage to earn points over non-business owners. Because, you have the opportunity to earn points with both personal and business credit cards.
Align your strategy
To maximize this point earning opportunity, we recommend that business owners have personal and business cards within the same point-earning program. As a business owner, you could have a Chase Sapphire Preferred card for personal expenses and a Chase Ink Preferred for business expenses. Both of these cards earn valuable Ultimate Rewards points. If the account holder for both cards is the same person, all points can be pulled into the same account.
This strategy is great for business owners to earn sign on bonuses, as well as earn points on daily spend. Business cards and personal cards earn points in different categories. For example, some business credit cards earn multiple points in categories like cell phones payments, internet bills, and office supplies. While, personal cards will earn multiple points on things like dining and travel.
Keep expenses separate
As a business owner, using a business card for business expenses will keep your personal and business finances separate. Ask any financial planner and they will advise to never blur the lines of business and personal expenses. When you use a business credit card, you can keep these expenses apart and make your accounting easier.
Finally, business credit cards offer more protection for business owners. The benefits and protection are often more encompassing than a personal credit card. Personal credit cards have consumer benefits. Similarly, business credit cards have benefits that will offer added protection on business-based purchases. If you are a business owner, make sure you evaluate all business and personal cried cards together to get the most complete credit card portfolio.
Want to learn more? Find out if you qualify for business credit card.