Eight thousand bucks to charge this month -- what to apply for?

[pizzadude]

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@BronzeTrader wrote:

So if, as a small business owner, you set up your own health and dental insurance plans.  If you see you'll have large dental expense, you set up a very good plan.  You pay like $500 or $1,000 for it.  This dental insurance premium is business deductible.  And it has very low deductible.  Say $1,000 deductible.  I just make up all those numbers.

For the $8,000 dental expense, with that dental plan, $7,000 will be covered with the business dental plan.  $1,000 will be personal dedutible.  Clearly the $7,000 is related to the small business dental health insurance plan.  That can be clearly explained.

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This is not relevant at all to the situation that OP described.  They're looking for a way to pay their $8K out of pocket expenses for a dental procedure. 

[BronzeTrader]

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@pizzadude wrote:

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@BronzeTrader wrote:

So if, as a small business owner, you set up your own health and dental insurance plans.  If you see you'll have large dental expense, you set up a very good plan.  You pay like $500 or $1,000 for it.  This dental insurance premium is business deductible.  And it has very low deductible.  Say $1,000 deductible.  I just make up all those numbers.

For the $8,000 dental expense, with that dental plan, $7,000 will be covered with the business dental plan.  $1,000 will be personal dedutible.  Clearly the $7,000 is related to the small business dental health insurance plan.  That can be clearly explained.

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This is not relevant at all to the situation that OP described.  They're looking for a way to pay their $8K out of pocket expenses for a dental procedure. 

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We have been talking about the statement, that dental expenses can't be charged to small business credit card.  To me, that is not clear cut.

The boundary is blur, or it is a grey area where what charges can be charged to small biz CCs.  If I use AmEx Biz Plat card to purchase Dell equipment.  Then later decide that I want to keep one monitor for personal use.  AmEx has no problem with that and it cares less.  Sure how we file tax is another thing.

The same thing that I use a biz card to buy all the gas.  Then I decide how much is business expense that enters biz tax filing.  

[James3]

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@805orbust wrote:

I'll guarantee you one thing... you're getting approved for whatever you apply for.  An NFCU Platinum or US Bank Platinum will give you 0% and a low BT fee. I believe the Chase FF will come with 0% on purchases as well. Citi Premier works also. Pretty much I would just review the rewards structure and go for whatever sounds best. The way I'm thinking is that it's pretty much up to you as I'm not seeing you getting a denial or even a limit below say, 10k, even from Chase.

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I didn't consider this option at all. Zero percent APR for 18 months with the US Bank Platinum would allow me to divert my cash other places. If this dental bill wasn't planned this is the option I would choose.

[James3]

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@SouthJamaica wrote:

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@James3 wrote:

Here's some additional details about my credit profile:

- Always PIF

- About 8k student loan debt

- No lates/black marks of any kind
- No Chase cards. I had a checking/savings account with them 15 years ago and closed both on good terms.
- All cards other than GM Card and Bilt have limits ranging from 13 - 24k

- No Discover card

All my cards are currently cash back cards, other than the Bilt and GM card:

(2002) FNBO Evergreen

(2003) Wells Fargo Signature

(2004) Marcus GM Card

(2016) BOA Custom Cash Rewards

(2020) Citi Double Cash (will likely product change to custom cash)

(2022) Wells Fargo Bilt

I don't apply for cards often and only recently started using my credit to take advantage of rewards/cash back/etc. The above list represents all cards I've ever applied for, aside from a Discover I closed when I was 19 for reasons I can't remember. I see a World of Hyatt card in my future, but I'd get a generic Chase card before that. I think Wells Fargo allows a Bilt card to be linked with a checking account so that amounts in excess of the credit limit can be debited and rewards can still be received.

I probably will not open a card just to sock drawer it, though the Citi premier. I'm on the conservative side with financial decisions and probably will not YOLO anything. The Citi Premier looks like a good option that I will need to research further. 

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I don't think it's wise to use a business card to pay a personal expense. The Ink is a business card.

It looks to me like you don't need any more cards.  But the Citi Premier is indeed an excellent card, and it goes well with the Double Cash. You can move your TYP's from the DC into the pool of TYP's of the Premier. And you can just convert your TYP's into cash if you like.

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I agree that I won't be using a business card in this case. You are correct that I don't need any additional cards right now, though opening the Citi Premier for the 80k sign up bonus is tempting

I will likely pay cash for the 5% discount or use my existing Bilt card for the points. I'm leaning strongly toward paying cash in this case. I appreciate the discussion and the additional ideas from everyone.

[pizzadude]

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@BronzeTrader wrote:

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@pizzadude wrote:

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@BronzeTrader wrote:

So if, as a small business owner, you set up your own health and dental insurance plans.  If you see you'll have large dental expense, you set up a very good plan.  You pay like $500 or $1,000 for it.  This dental insurance premium is business deductible.  And it has very low deductible.  Say $1,000 deductible.  I just make up all those numbers.

For the $8,000 dental expense, with that dental plan, $7,000 will be covered with the business dental plan.  $1,000 will be personal dedutible.  Clearly the $7,000 is related to the small business dental health insurance plan.  That can be clearly explained.

---

This is not relevant at all to the situation that OP described.  They're looking for a way to pay their $8K out of pocket expenses for a dental procedure. 

---

We have been talking about the statement, that dental expenses can't be charged to small business credit card.  To me, that is not clear cut.

The boundary is blur, or it is a grey area where what charges can be charged to small biz CCs.  If I use AmEx Biz Plat card to purchase Dell equipment.  Then later decide that I want to keep one monitor for personal use.  AmEx has no problem with that and it cares less.  Sure how we file tax is another thing.

The same thing that I use a biz card to buy all the gas.  Then I decide how much is business expense that enters biz tax filing.  

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You're still oversimplifying and making irrelevant comparisons, purchasing office equipment / gas / assets / etc.. is not the same as a dental procedure.   There has to be justification for any business purchase which would be written off as an expense. 

OP has responded with their intention so locking this thread as it has run it course.