The Great Benefits of Business Credit Cards

In addition to personal credit cards, there’s a large category of business credit cards perfect for Travel Hackers. Why business credit cards? You might ask. Read on to learn about some of the great benefits of business credit cards.

Some of the Benefits of Business Credit Cards

For starters, when you open a business credit card, the information is usually not reported to the three credit agencies. This means that this type of card does not show up on your personal credit report. Travel Hackers open up a fair amount of credit cards. With so many credit cards, it’s great to have some cards that don’t effect your credit score. You can also cancel these cards without any impact on your credit score. You may want to hold onto these cards long term to continue to benefit form all the perks of the cards.

Sign Up Bonuses

Business credit cards often have higher sign up bonuses than personal credit cards. Some have annual fees and others are fee-free. Most banks offer both a personal and business card in their co-branded Airline and Hotel cards and you can open up both business and personal cards and benefit from each sign up bonus.

Business Hotel Credit Cards

In the case of some hotel credit cards, there are additional benefits such as a free weekend night on the card anniversary each year as well as upgraded status with the hotel chain which can get you onto the concierge/executive level of hotels as well as free breakfast and some other goodies. Another perk of having upgraded hotel status is that you’re more likely to get a room upgrade if available when you ask.

Chase Ink Business Preferred Credit Card

My second credit card sign up after the American Airlines credit card was the Chase Ink Business Preferred Card. At the time, it had no annual fee the first year and a sign up bonus of 80,000 Ultimate Rewards Points after meeting the $5,000 minimum spend. Additional perks included 3 x Chase Ultimate Rewards points per dollar spent on travel, shipping purchase, internet, cable, phone and social media advertising. There are no foreign transaction fees charges when the card is used abroad. All other spending earns 1 x Chase Point per dollar spent. It’s been a great card for me and I love to recommend this card.

Chase Ink Business Preferred Credit Card. One of the Credit Cards I recommend. The Great Benefits                            of Business Credit Cards
Chase Ink Business Preferred Credit Card

Note that this card currently has a $95 annual fee starting in the first year.

Chase 5/24 Rule

One of the factors that impacts your credit score is the number of credit instruments you’ve opened recently. The Chase 5/24 Rule that makes you ineligible to apply for and receive Chase credit cards if you’ve opened more than 5 new credit cards from any bank in the last 24 months. So, the fact that business credit cards don’t show on your credit report leaves spots open for other new Chase cards.

I love Chase cards and always recommend opening up Chase cards before any other cards in most situations. Contact me if you already have any Chase credit cards in your wallet. We can work on a strategy for the card(s) that make the most sense to apply for next.

Chase Ink Business Cash Credit Card (a different Chase business Credit Card than the one mentioned above) offers 5 x Chase Ultimate Rewards Points per dollar spent on cable, phone, internet and office supply stores. I also earn 2 x Chase Ultimate Rewards points per dollar spent at restaurants and gas stations. All other spending earns 1 x Chase Point per dollar spent.

Those points can add up quite quickly and can easily be combined with the Ultimate Rewards Points from the Chase Sapphire Preferred. Oh, and did I mention that this card has no annual fee and offers a 50,000 point sign up bonus after a $3,000 minimum spend in the first three months after approval?

What Qualifies as a Business

What if you don’t have a business? You might be surprised at what counts as a business for the purpose of applying for business credit cards. Have you ever sold something on Etsy, eBay or Amazon? How about a little side gig playing or teaching music? Do you board or walk dogs? What about babysitting and tutoring students? Do you own a rental property or rent out a room on Airbnb? How about selling tickets on StubHub? Maybe you drive occasionally for Lyft, Uber, Door Dash or GrubHub… There are lots of business activities that qualify you for a business credit card.

Business vs Household Income

What if your business income is low or you’re just starting out? Most business credit card applications qualify you on your total household income. This might include a spouse, partner or parent living under the same roof. Your household income is generally higher than your business income alone.

You can also qualify for a business credit card if you are about to start a business even if you don’t have any income yet. It usually takes a bit of back and forth to explain your situation to the credit card company. However, it’s certainly worth the time to be approved for business credit cards.

The bottom line is that if you have the opportunity to apply for business credit cards, do it! Business credit cards are a great asset to your travel hacking credit card portfolio. And there you have it; the great benefits of business credit cards.

Please scroll down and comment below with your takeaways and or questions about business credit cards and I’ll devote another post to this great avenue for Travel Hackers in the near future.

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Published by Lisa Joy Phillips

I have a passion for Travel Hacking using Points and Miles to Travel for Pennies on the Dollar.

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  1. Hi Lisa, this information are very helpful and I am thinking to consider your advice as an opportunity to us. As you know we have a kind of business selling our Art and we never had a business card. I will discuss with my husband, Domenico and see what we decide. I am thankful to your advices.

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