Chase Ink Bold and the UR Points Churn Begins

[navigatethis12]

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@djrez4 wrote:

you shouldn't be charging inventory on a credit card.  If I was your card issuer, I'd shut you down in a heartbeat for that.

You need to develop business credit and get some net15 ot net30 accounts with your suppliers.  Step one is to register with Dun and Bradstreet.

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Business credit can take quite a while to establish, and no one wants to be the first. I use credit cards for all of the inventory I purchase and have not had any issues yet. With some margins being so thin, an extra 2% helps a lot. Having cards with no interest help a lot because I can charge and not have to worry about it for a year. If I didn't use cards, I would not have sold anywhere near as much as I have already.

[sccredit]

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@youngman1234 wrote:
We are going off topic, but I have min net 90 with all my vendors with some I get net 180 to 1 year I have some invoices that are upwards 100k.... We pay them monthly so instead of writing 600-700 checks like we did before a year. We write only like 50 checks a year now. It is so easy to pay vendors with a credit card and just pay on bill a month rather than worry on tracking 600-700 checks.. And we get points for it. I'm not financing inventory I'm just paying regular monthly bills and getting points for it... I don't really see the risk.. Especially when I pay in full every month, don't have a single payment ever due( dont let balances report), if I push 400-450worth of spending this year which I'm sure I will reach the banks are making a lot of money off the processing fees. If I owed money and only make min payments and max out the lines I see the problem. But I'm not doing any of that ...

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Have you thought about the Plum card?  If you're just cycling inventory through it you could pick up 2 percent on your margin if you're an early payer. 

[youngman1234]

I tried but the problem is I'm a no go with Amex.... Ever since they gave me a hard limit on my gold card, I'm not able to get approved for anything else...