topic Re: Unlimited cash back 1.5%+ better than Amex Plum? in Business Credit

Unlimited cash back 1.5%+ better than Amex Plum?

Anonymous — Sun, 17 May 2020 03:28:53 GMT

We are approved from various lenders for 5-20k limits, but theyre annoying to pay in full, multiple times during a billing cycle.

Currently we use the Amex PLUM for over 6 figure spending and pif for the 1.5% cash back. Any other cards we should look into? Appreciate any suggestions

Re: Unlimited cash back 1.5%+ better than Amex Plum?

Andypanda — Sun, 17 May 2020 16:41:56 GMT

What about the amex Blue Busness cash? 2% back on evreything up to $50,000 a year.

Re: Unlimited cash back 1.5%+ better than Amex Plum?

CreditUnionFan — Sun, 17 May 2020 19:34:37 GMT

It seems like you're exceeding the $50k that BBP will pay out 2% on. If that's the case, the Plum may make sense. Remember to calculate the annual fee into whether the Plum makes sense.

There are a few other options - Wells Fargo business Visa - 1.5%, but no annual fee, and no cap that I'm aware of.

Capital One Spark cards - 2%, but most are subject to an annual fee. (with sufficient spending the AF makes sense). These appear on your personal credit report, but the rewards are quite good.

I'm probably getting rid of my own WF business cards, and BoA's category-based business cards, because both lenders are now counting those cards against me with their personal card underwriting.

Re: Unlimited cash back 1.5%+ better than Amex Plum?

Anonymous — Mon, 18 May 2020 01:18:54 GMT

@CreditUnionFan wrote:
It seems like you're exceeding the $50k that BBP will pay out 2% on. If that's the case, the Plum may make sense. Remember to calculate the annual fee into whether the Plum makes sense.
There are a few other options - Wells Fargo business Visa - 1.5%, but no annual fee, and no cap that I'm aware of.
Capital One Spark cards - 2%, but most are subject to an annual fee. (with sufficient spending the AF makes sense). These appear on your personal credit report, but the rewards are quite good.
I'm probably getting rid of my own WF business cards, and BoA's category-based business cards, because both lenders are now counting those cards against me with their personal card underwriting.

I second the Capital One Spark 2%. The plum has a $250 AF with only 1.5%. There are very few 2% cashback business cards. Only thing is that it will report on your personal report, plus you might not get the starting limit you want at first. You might get a lower than expected limit but can work your way up to a higher limit. The business I work for started at 7.5K limit and three CLI later we are at 37.5K.

Re: Unlimited cash back 1.5%+ better than Amex Plum?

M_Smart007 — Mon, 18 May 2020 19:24:54 GMT

@Anonymous wrote:
@CreditUnionFan wrote:
It seems like you're exceeding the $50k that BBP will pay out 2% on. If that's the case, the Plum may make sense. Remember to calculate the annual fee into whether the Plum makes sense.
There are a few other options - Wells Fargo business Visa - 1.5%, but no annual fee, and no cap that I'm aware of.
Capital One Spark cards - 2%, but most are subject to an annual fee. (with sufficient spending the AF makes sense). These appear on your personal credit report, but the rewards are quite good.
I'm probably getting rid of my own WF business cards, and BoA's category-based business cards, because both lenders are now counting those cards against me with their personal card underwriting.
I second the Capital One Spark 2%. The plum has a $250 AF with only 1.5%. There are very few 2% cashback business cards. Only thing is that it will report on your personal report, plus you might not get the starting limit you want at first. You might get a lower than expected limit but can work your way up to a higher limit. The business I work for started at 7.5K limit and three CLI later we are at 37.5K.

Isn't the drawback of Cap1 Spark, is that it reports to your personal CB's?

Re: Unlimited cash back 1.5%+ better than Amex Plum?

CreditUnionFan — Tue, 19 May 2020 02:39:19 GMT

@M_Smart007 wrote:
Isn't the drawback of Cap1 Spark, is that it reports to your personal CB's?

Yes, that is a drawback. How significant it is depends on whether you feel that the business will be able to pay the debt. If the business pays the debt, it is in some ways a positive, because you're demonstrating a steady payment history with substantial purchases and payments. More credit usage tends to lead to more credit opportunities....

Re: Unlimited cash back 1.5%+ better than Amex Plum?

M_Smart007 — Tue, 19 May 2020 02:55:09 GMT

@CreditUnionFan wrote:
@M_Smart007 wrote:
Isn't the drawback of Cap1 Spark, is that it reports to your personal CB's?
Yes, that is a drawback. How significant it is depends on whether you feel that the business will be able to pay the debt. If the business pays the debt, it is in some ways a positive, because you're demonstrating a steady payment history with substantial purchases and payments. More credit usage tends to lead to more credit opportunities....

@CreditUnionFan, I tend to think you are correct.

I have over 50 personal CC's an 5 Corporate Bus. Cards. (I own a Corp.)

I do keep them separate.

1st CC was with Amex in my very early 20's

Started My 1st Bus. 30 years ago, from scratch.

Re: Unlimited cash back 1.5%+ better than Amex Plum?

Anonymous — Wed, 20 May 2020 02:45:59 GMT

@Andypanda wrote:
What about the amex Blue Busness cash? 2% back on evreything up to $50,000 a year.

Businesss spending exceeds that monthly though.

Re: Unlimited cash back 1.5%+ better than Amex Plum?

Anonymous — Wed, 20 May 2020 02:46:53 GMT

@CreditUnionFan wrote:
It seems like you're exceeding the $50k that BBP will pay out 2% on. If that's the case, the Plum may make sense. Remember to calculate the annual fee into whether the Plum makes sense.
There are a few other options - Wells Fargo business Visa - 1.5%, but no annual fee, and no cap that I'm aware of.
Capital One Spark cards - 2%, but most are subject to an annual fee. (with sufficient spending the AF makes sense). These appear on your personal credit report, but the rewards are quite good.
I'm probably getting rid of my own WF business cards, and BoA's category-based business cards, because both lenders are now counting those cards against me with their personal card underwriting.

I have one personal card w WF. I may look into business card or does that report to personal bureaus?

Re: Unlimited cash back 1.5%+ better than Amex Plum?

CreditobsessedinFL — Fri, 22 May 2020 13:43:04 GMT

@M_Smart007 wrote:
@CreditUnionFan wrote:
@M_Smart007 wrote:
Isn't the drawback of Cap1 Spark, is that it reports to your personal CB's?
Yes, that is a drawback. How significant it is depends on whether you feel that the business will be able to pay the debt. If the business pays the debt, it is in some ways a positive, because you're demonstrating a steady payment history with substantial purchases and payments. More credit usage tends to lead to more credit opportunities....
@CreditUnionFan, I tend to think you are correct.
I have over 50 personal CC's an 5 Corporate Bus. Cards. (I own a Corp.)
I do keep them separate.
1st CC was with Amex in my very early 20's
Started My 1st Bus. 30 years ago, from scratch.

WOW, @M_Smart007 , I am impressed, (and smiling).

Re: Unlimited cash back 1.5%+ better than Amex Plum?

CreditUnionFan — Fri, 22 May 2020 14:35:27 GMT

@Anonymous wrote:

I have one personal card w WF. I may look into business card or does that report to personal bureaus?

WF, as well as Amex, BoA, Citi, Chase, and Synchrony, will not report current accounts on personal credit report(s). If the account is PG'd, then derogatory information can be reported onto personal credit report(s).

The downside is that many of these issuers will consider business credit cards during the application for a new personal credit card. Amex will count PG'd business credit cards as part of their limit as to the number of allowed credit cards. (was five credit cards, no rumored to be only four credit cards now)