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business credit card and points

Discussion in 'Other Asset Classes' started by sunnyskies, 15th Oct, 2016.

  1. sunnyskies

    sunnyskies Active Member

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    melbourne
    I have about 500k in expenses a year and am thinking of getting a credit card with points and paying the expenses and then transferring the money before end of month.

    anyone care to share their recommendation for this? lots of options out there
     
    Chabs likes this.
  2. kamchatsky

    kamchatsky Well-Known Member

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    @sunnyskies, if you run your own company the best and most flexible card would be American Express Platinum Business Charge Card.

    Right now it has a promo of 150000 bonus American Express Membership Rewards points (see link below) for signing up and spend $5000 within 1st 2 months. The annual fee is high ($1500 per year) BUT it has a lot of benefits including earning points on many different partners, automatic Virgin Australia lounge access, free Priority Pass worldwide lounge access, free companion card such as Platinum Reserve/Edge where you get a free domestic ticket, free Platinum Travel Insurance, Starwood Preferred Guest Gold, Marriott Rewards Gold, Club Carlson Gold Elite level etc.

    The American Express® Platinum Business Card

    The 150000 American Express Membership Reward points is worth a lot, especially you are transferring to 10 airlines at the following ratio:

    Qantas: 1:1
    Virgin Australia: 1:1
    Singapore Airlines: 1:1
    Cathay Pacific 1:1
    Etihad 1:1
    Malaysia Airlines 1:1
    Thai Airways 1:1
    Emirates 4:3
    Virgin Atlantic 1:1
    Air New Zealand 100:1

    So for something like Singapore Airlines, 150000 points is like almost a return Business Class ticket from Australia to Europe for free (requires just over 160000 points + taxes etc).

    Another thing, it has the following benefits for housekeeping purposes:

    Control your paperwork and expenses with monthly statements. Where available, the GST payable amount for transactions is provided and meets the ATO’s requirements for GST reporting7. This will assist you when completing your BAS and managing your business expenses at tax
     
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  3. Chabs

    Chabs Well-Known Member

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    For someone who has never had a credit card before and is easing into it, what would you suggest? Few things:

    • would rather start with Master or Visa as they are more universally accepted
    • Looking to avoid high fees, e.g. $1500 first year
    • Expenses are probably about the $100-500k per year, but would need multiple different cards for the different employees who would need it.
    • Projecting expenses to jump to 500k+ a year if I go into a new venture.
     
  4. radson

    radson Well-Known Member

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    This is what I use but not sure I would sign up the next year without the points.
     
  5. ErYan

    ErYan Well-Known Member

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    NAB platinum 80000 points spending 2.5k in 90 days.
     
  6. Cactus

    Cactus Well-Known Member

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    I have just applied for in business.
    Nab Platinum Rewards Visa 80,000 points minspend $15k in 90 days.

    I also am applying for
    Nab platinum Rewards (personal) 350,000points with a new home loan.

    I also have
    Nab velocity (non platinum)
    Amex platinum credit card
    Amex green charge
    AnZ black Rewards (this one will go soon)
     
  7. Mac Fields

    Mac Fields Well-Known Member

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    NSW
    Wow!

    Did you receive the letter in the past few weeks - month from ANZ that they are cancelling the AMEX cards from August? They have also advised that you get fewer FF points per $ spent. Might need to look into the NAB cards you've mentioned (although won't be able to move home loan :()
     
  8. Marg4000

    Marg4000 Well-Known Member

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    Just watch that you are not charged a surchage for using AMEX - many places charge up to 4% which can make a dent in benefits.
    Marg
     
  9. Cactus

    Cactus Well-Known Member

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    Yep ditching anz as a result. Fees are too high for the rewards now.

    Edit: plus I like to churn every so often withsign on bonuses anyway.
     
  10. Cactus

    Cactus Well-Known Member

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    Yes, you need to understand your redemption value per point and therefore know wether it's worth a surcharge or not.
     
  11. ErYan

    ErYan Well-Known Member

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    Sydney
    Is it $15k or $2.5k?

    NAB Rewards Platinum Credit Card
     
  12. Cactus

    Cactus Well-Known Member

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  13. Mac Fields

    Mac Fields Well-Known Member

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    Great comments, cheers. This wouldn't affect your credit checks? (I assume the churn isn't too often).
    Just need to get used to the CC being with another bank outside my regular banking (and therefore additional steps/websites to check balance, repay monthly charges etc...)
     
  14. Cactus

    Cactus Well-Known Member

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    Definitely affects it, but two a year seems to be ok. Where you can go wrong is applying for ones you won't get. Multiple hits in a short period of time.

    I have stuff with westpac anz cba and nab anyway so doesn't bother me.
     
    Mac Fields likes this.