Unlocking Rewards: How to Maximize Business Credit Cards for Travel and More
In the world of credit card rewards, there are many avenues to explore in order to unlock valuable perks, whether it be “free” flights, hotel stays, or cash back rewards. While many people are familiar with using personal credit cards to earn rewards, business credit cards are often overlooked as a powerful tool for maximizing rewards. In this article, we will delve into the world of business credit cards, exploring how they can benefit both business owners and individuals with side hustles. We will also discuss the best strategies for earning and using rewards from business credit cards.
Understanding Business Credit Cards
First and foremost, it’s important to clarify that you do not need to own a large, formal business to be eligible for a business credit card. Whether you are running a full-fledged business or simply have a side hustle, you may still qualify for a business credit card. In fact, credit card issuers often allow freelancers and entrepreneurs to apply for business credit cards using their Social Security number as a sole proprietor.
While having a federal employer identification number (EIN) and a history of revenue can strengthen your application and potentially secure a higher credit limit, they are not always necessary. Many individuals have successfully been approved for business credit cards without an EIN, making these cards accessible to a wider range of applicants.
Benefits of Business Credit Cards
There are several reasons why obtaining a business credit card can be advantageous, even for those without a formal business structure. One key benefit is the ability to separate personal and business expenses, making it easier to track spending and manage finances. Additionally, business credit cards often come with perks and bonuses that are tailored to business-related expenses, such as travel rewards, cash back on office supplies, or discounts on business services.
Maximizing Rewards from Business Credit Cards
To make the most of your business credit card rewards, it’s important to choose the right card for your specific needs. There are a variety of business credit cards available on the market, each offering different rewards structures and benefits. Some of the best business credit cards include:
– Chase Ink Business Preferred Credit Card: This card offers generous rewards on business expenses, including travel, shipping, and advertising. Cardholders can earn valuable Ultimate Rewards points that can be redeemed for travel or transferred to airline and hotel partners.
– American Express Business Platinum Card: With this card, you can earn Membership Rewards points on all your business purchases. The card also comes with premium travel benefits, such as airport lounge access and travel credits.
– Capital One Spark Cash for Business: This card offers unlimited 2% cash back on all purchases, making it a great option for businesses looking to earn cash back rewards on their spending.
In addition to choosing the right card, there are several strategies you can employ to maximize your rewards from business credit cards. Some tips for maximizing rewards include:
– Taking advantage of sign-up bonuses: Many business credit cards offer generous sign-up bonuses for new cardholders. By meeting the spending requirements to earn these bonuses, you can quickly accumulate a large number of rewards points or cash back.
– Using bonus categories: Some business credit cards offer bonus rewards on specific categories of spending, such as travel, dining, or office supplies. By strategically using your card for these categories, you can earn more rewards on your everyday expenses.
– Redeeming rewards wisely: Once you’ve earned rewards from your business credit card, it’s important to redeem them in a way that maximizes their value. Whether you choose to use your rewards for travel, cash back, or gift cards, be sure to take advantage of any bonus redemption options that may offer additional value.
Join Our Free Webinar
To learn more about how to earn and maximize rewards from business credit cards, consider joining our free webinar on Thursday, February 29th at 4 p.m. Eastern time. During the webinar, our experts, including Ashley Onadele, a TPG freelancer and family travel expert, and Ed Pizzarello, chief operating officer of RMR Capital and longtime award pro and business traveler, will discuss topics such as:
– What are some of the best business credit cards?
– Who is eligible for business credit cards?
– How do you maximize rewards earned from business credit cards?
Even if you don’t have a formal business, this session can still provide valuable insights for maximizing rewards from business credit cards. If you’re interested in attending the webinar, be sure to register in advance to secure your spot. Registration will close shortly before the webinar starts, so don’t miss out on this valuable opportunity to learn from experts in the field of business credit cards.
In conclusion, business credit cards can be a powerful tool for unlocking valuable rewards and benefits, whether you are a business owner or an individual with a side hustle. By understanding how to leverage business credit cards effectively and choosing the right card for your needs, you can maximize your rewards and enjoy a range of perks tailored to business expenses. Don’t miss out on the opportunity to learn more about earning and using rewards from business credit cards by joining our free webinar.