@kremonis wrote:
@Citylights18 wrote:
3% isn't great rewards for a business debit card. I have a business bank account where they are offering 4% but you need 15 transactions a month. I am just not expensing my business bank account like that. I'm using the business bank account to pay off my business credit cards as revenues flow in. I have currently four 0% APR business cards open which I need to pay off.
@Citylights18
Do you mind revealing the name of this bank with the 4% cash back business debit card?
Actually its 3.5% with Signature Credit Union and this is not debit rewards but CB on your business checking account.
https://www.signaturefcu.org/Products/Accounts/Business-Accounts.aspx
It requires a minimum of 1,000 and direct deposit which for many wouldn't be a problem however you need to make 15 debit card purchase from your business account a month. Given that I use business credit cards for expenses and float it doesn't really fit my model. I guess it could be done if I wanted to run all my bills online through the debit card.
Bottom line I don't think these high APY rates are here to stay as the Feds Funds rate is unsustainable due to having to service payments on a 31 trillion debt. Ultimately we could be looking at a trip back down to 0% rates, possibly even by the end of 2023 so I don't know if I would waste time hopping banks for yield.
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