topic Re: Bus partners credit card in Business Credit

Bus partners credit card

Anonymous — Wed, 05 Feb 2014 02:18:51 GMT

New business looking for some business credit cards, im not sure if this is even possible but i was wondering if, me and my two partners can link a bussiness credit card to one account.

For example partner A makes a purchase of $300 on business credit card can we then divide that out so partner B and C get $100 put on there credit card, and can pay it off as they see fit and earn rewards for there share? Or if partner B & C split the price of a purchase after it was in full by partner B credit card?

The reason we would like to do this is put all the business bills on the credit card and divide out the payments to each partner.

Sorry for the long post any help or advice would be greatly appreciated. I know we can just have the business pay but for other reasons we dont want it setup that way right now.

Re: Bus partners credit card

Creditaddict — Wed, 05 Feb 2014 07:36:23 GMT

If I'm following correctly... No

you can't divide out a purchase from 1 credit card over to 2 other cards.

Re: Bus partners credit card

Anonymous — Wed, 05 Feb 2014 12:08:10 GMT

@Anonymous wrote:
New business looking for some business credit cards, im not sure if this is even possible but i was wondering if, me and my two partners can link a bussiness credit card to one account.

For example partner A makes a purchase of $300 on business credit card can we then divide that out so partner B and C get $100 put on there credit card, and can pay it off as they see fit and earn rewards for there share? Or if partner B & C split the price of a purchase after it was in full by partner B credit card?

The reason we would like to do this is put all the business bills on the credit card and divide out the payments to each partner.

Sorry for the long post any help or advice would be greatly appreciated. I know we can just have the business pay but for other reasons we dont want it setup that way right now.

With any business situation like this, it's always useful to think about how transactions will be reflected on tax forms that are filed.

In other words, if you file a Schedule C, what will it look like, and what sort of entries will you put in your accounting software?

Re: Bus partners credit card

Anonymous — Wed, 05 Feb 2014 21:17:55 GMT

Ok, thanks for your help, i didnt think it was possible but businesse credit cards are very new to me