cancel
Showing results for 
Search instead for 
Did you mean: 

Business Card recommendation

EAJuggalo
Established Contributor

Business Card recommendation

Since I'm going to get 1099'd for my side business this year I think it's time to get a card for it and keep my expenses separate.  I am a sole prop working as a sports official as an independant contractor.  My personal scores are all around 650, clean report just high utilization killing me.  Total income this year 1099 will be about 2,000 for sure with the possiblity of up to 5,000.  

Are there options out there for low income side businesses without stellar personal credit?  Most of my expenses are travel.  Gas, hotels, flights that are reimbursed.

EX680 TU 659 EQ 691
Cap1 QS-$4,500 Chase Freedom Visa- $800 Chase Freedom Unlimited- $500 Victoria's Secret- $2000 Citi DC- $800 Amazon Store Card- $3,500 AMEX Hilton Honors-$1,000 Discover It-$1,000 Wal-Mart MC $290 Chase Sapphire Preferred-$5,000 NFCU Flagship $10,000 AMEX BCE-$1,000 AMEX Gold-NPSL
NFCU SSL $88/1005
Message 1 of 8
7 REPLIES 7
Jordan23ww
Valued Contributor

Re: Business Card recommendation

I think you should take a look at American Expresses Blue Business Cash  (cash back)  and Blue Business Plus (MR points).  I got both of these as a sole proprietor with similar income as you're expecting. 

 




Message 2 of 8
Shooting-For-800
Senior Contributor

Re: Business Card recommendation

I would consider starting a single member LLC.

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2021.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

5% Rotating - Discover                         5%-20% - Amazon & Lowes                   3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything - Flagship, Synchrony, Evergreen, & Venture


Message 3 of 8
SACT51
Frequent Contributor

Re: Business Card recommendation

I agree with shooting for 800.  You should form a single member LLC

Message 4 of 8
Blue_Collar
Regular Contributor

Re: Business Card recommendation

AMEX

Message 5 of 8
Credit4Growth
Valued Contributor

Re: Business Card recommendation

I would suggest Amex as a great way to go due to myself leaning in this very same direction 😀 

 

I am curious to read of the best positive of first forming a (single member ) LLC  should @Shooting-For-800 and @SACT51 provide some of the best pros and cons form their own perspectives.

|| DTI 8% || Mortgage Scores: EQ724, Tu694, EX726 ||
Inquiries: EQ/TU/EX (0 / 2 / 1) - 0/6 - 0/12 - 3/24 ||


Next App on the list is ???
Last apps: (2) August 18, 2019
Garden goal - Unknown date, 2021
Going for Sapphire spade - May 18th 2021

Dirty/ Thick/ Aged/
Message 6 of 8
Shooting-For-800
Senior Contributor

Re: Business Card recommendation

A single member LLC allows you to separate your business and person finances without a bunch of extra paperwork.

It is much simpler to deal with than an S corp or regular LLC.

LLCs protect your personal assets.  Sole proprietor does not.

Filing taxes for single member LLC is just as easy as a sole proprietor.

A single member LLC can become a regular LLC easily in the future if partners are brought on.

LLCs are more professional than a sole proprietor in the eyes of banks and clients.

 

 

 

 

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2021.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

5% Rotating - Discover                         5%-20% - Amazon & Lowes                   3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything - Flagship, Synchrony, Evergreen, & Venture


Message 7 of 8
Janus
Senior Contributor

Re: Business Card recommendation

I agree with Amex suggestions, and since you're already with them there's at least some familiarity with you.  That said, I had a fairly easy experience with getting USB and BoA Biz products too. Though I'm an existing customer with both of them as well. 






Message 8 of 8
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.