I have to stop this and start to garden soon.
I was looking at offers last week and decided to apply for a Chase Sapphire Preferred. Got it without much issue and was pleased as that rounded out my personal cards with a nice 40,000 rewards bonus for $3,000 spend in 3 months. I thought about applying for the Ink Bold at the same time but I had just been thru quite an experience getting the Amex Delta Reserve for Business card. I had second thoughts last night and just went for it, the 50,000 points for $5,000 spend was too much to resist. Got the standard "application needs further review" screen.
I just called and spoke to a very nice CSA at 800-453-9719 and after a few simple questions as to the nature of my business, gross sales and profits for 2010 thru 2012 as well as reviewing my existing Ink Cash account usage and Chase business checking account balances he put me on hold for a couple of minutes. Came back and told me I was approved and wanted to discuss what I felt I would need as a limit. That was nice as I was able to truthfully discuss my actual business needs and in the end I decided to ask for $20,000 which was granted. He could see the usage on the other card and agreed that at times it appeared that the utilization was high but thanked me for paying in full and recognized that on some months I paid it in full more than once. I was sweating the utilization but he brushed it off based on PIF early.
Looks like Chase will be getting some usage, they are certainly easy to work with and seem to be open to discuss my needs and try to accommodate them as best as they can. He said that as long as I PIF on both cards I will be free to call and ask for increases when I need it, not based on a schedule. I asked and he said it did help to have business checking and savings with Chase as they could verify activity in those accounts.
I'm done looking for cards. I'm covered for the business with the Ink Cash and Ink Bold plus the Amex Gold and Delta Reserve for Business. It feels good to have them but better because I always have the cash in the bank and could drop them all and still operate a profitable business. Business credit is nothing more than a tool.
I've considered the Ink Bold but just don't need it. I have the Ink Cash and use it almost exclusively for the 5% categories....which isn't really that much. My cell phone, biz phone, biz cable/internet and occasional office supplies simply aren't a huge expense. Sure, I occasionally use it for the Ultimate Rewards Mall for bonus cash back but that's not often. Actually, the biggest expense I put it on it is my $500 per month radio advertsing bill because it somehow counts as "Telecommunication" like a phone. Ha! That's a cool $25 every month. Not sure if it's common among radio stations but mine must have a merchant code that classifies under a code that Chase counts as 5%. Nice fluke in my favor. ;-)
But anyways, the Bold would be great if I didn't have other options or if it paid better on more categories or better overall at the minimum...say 1.5% or even 2%. I have an Amex Plum as my charge card for extra large purchases. 1.5% discount. I also use the US Bank Cash + for insurance and utilities @ 5% under the "bill pay" bonus category. And then I have the Spark Cash for all non-bonus categories at 2%.
The Bold, IMHO, should be more lucrative than the Ink Cash considering it has an annual fee. I suppose the other perks for travel matter more for some people. I don't do biz travel in my business so it doesn't do anything for me.
That advertising deal is pretty sweet ztnjpv! $300 back per year is great on that.
Yeah the Cash and Bold are pretty similar in rewards, the only difference (other than the cash earning % and the Bold earning points - both equal as they transfer in Ultimate Rewards) is that I can get 2x points at gas and hotel on Bold but 2% on gas a restaurants with Cash. Other difference is the rewards are capped on both cards $25,000 on Cash but $50,000 on Bold.
Here is the big bonus for me at least - no cost for additional cards for employees. Take that AMEX. The $95 fee is a deal just based on free employee cards. They seem to be hip to raising my spend ability on Bold once they see my trends so that will be nice and the service advisor direct line rocks. My last call was answered by a human being that addressed me by name upon answering (I'm sure my office called ID did that but still... best service experience ever).
I will admit the Plum is tempting...
YEAH. That radio thing was a shock. Had I not had the Ink before I had the Spark or Plum, I wouldn;t have even known because I would have put that expense on a better paying card....or so I would have thought. When my first statement posted and I saw my cash back for the month, it was a lot more than I expected. Just didn't add up. So I called and learned about the radio ads counting as telecom. I just chuckled under my breath and thanked the CSR for the help. ;-)
Yeah. The free cards are nice. I had them made for employees. No credit check, no SSNs needed. No cost. That's the way it should be. Cap1 wanted a full application when I wanted to add my wife so I could get the bonus for adding a card. No thanks. It's just $50. Not worth it. And the Plum charges. Silly.
I like the Plum but would like it more if it paid better. The annual fee makes me expect more and I don't feel like I get it. Moreover, the higher swipe fees make me think they should be more generous with rewards and they are not. I even told them this. But I lucked out this year with the AF. Twice I have had to call the roadside assitance that comes with the card to get into my car (locked the keys in it). That more than paid the fee. ;-)