THE 3 BEST CREDIT CARDS FOR SMALL BUSINESS

what's up you guys jason wardrop here and in today's video i want to break down the three best small business credit cards at least in my opinion the way my business is set up and structured and obviously everyone's business depending on what your expenses are the best credit card for you might be a little bit different but the reason why i want to share this with you is because when i first got started in my own business six years ago i had a traditional wells fargo credit card which literally gave me zero benefits i didn't know about all the benefits all the credit card reward points all this cool stuff and so i did a little bit of research talked with some friends i have friends that literally travel the world and i personally have also been able to go to italy mexico hawaii all expenses 100 paid for with these credit card reward points so let's just break down the top three and then i'll throw in a bonus fourth credit card depending on how much you guys spend in your businesses i spend a lot in certain categories and so it made sense to have a few different credit cards for different reasons so i'll first share with you my very first credit card that i got after that wells fargo credit card and then i'll wrap up with my favorite credit card that i highly recommend if you're spending any money on travel on paid ads so google ads facebook ads highly recommend this credit card so the first credit card that i got was this capital one spark business credit card now you've probably seen some commercials on tv about it and some things that you want to know about this is yes there is a 95 annual fee with this credit card however the rewards the return that you can get with this card more than outweigh that 95 annual fee and if the 95 annual fee is keeping you from getting started the best part is the very first year you don't have any fee whatsoever it's zero dollars the first year and then just 95 after that but the great thing and the bonuses and benefits about this card is you get two percent cash back on all purchases okay it doesn't matter if you're putting that towards paid ads towards travel hotels like whatever it is paying off contractors you will get two dollars back for every 100 spent now the great thing about this guys is this is just free money that you can have at your disposal whereas if you're using a traditional business card like from a wells fargo or any of these other big banks and they're not giving you any rewards and returns then that is money in essence that you are just throwing down the drain so go google it check it out is the capital one spark business card and yes i know i could get some reward points for going through and referring you but i want to make a completely unbiased video so you guys can know the best cards out there and i'm not just shooting this video so i can go get more bonus points the great thing is with all these cards you have sign up bonuses so if you go through sign up for the card brand new and you spend a certain amount of money usually it's anywhere between five thousand and fifteen thousand dollars in the first three months then you get this massive bonus points sometimes you can get as many as 80 000 bonus points by just signing up now this card the cool thing is in the first three months if you just spend 4 500 which most businesses are going to spend 4 500 in a three month period you get 500 cash back just as an incentive for signing up for this card so anyway go check it out it's capital one spark business card it's this green card looks just like this and let's move on to the next card here all right so this next card is not my favorite it's coming here in a second but it is the american express business gold card so just like the capital one card if you spend a certain amount in the first three months you get all these bonus points so it's 5 dollars in the first three months you're going to get 35 000 reward points now i believe when i first signed up this is a few years back it was up at 50 000 they've since lowered that however they have several other bonuses for you with your business when you put these expenses on your gold card so i know they have travel is four times the reward point so if you spend one dollars you get four points back and then also paid ads and they've got a long list of all of the other bonuses so you should go through check out the american express business gold card now i always like to have an american express card they kind of got that next level tier of support and anytime if i'm buying something online that might seem sketchy and i'm like man if i need to go through and dispute this charges back or anything like that american express has got your back they are extremely loyal to their customers so anyway go check this one out but let's jump into my favorite card and then i'll throw out one other bonus card because if you if you're spending a lot and you take advantage of all these bonuses a lot of these bonuses they have maximum so if you'll go through and you spend a certain amount well after that certain amount it's kind of nice to have another credit card to go through and maximize those bonuses and so you're just spreading the wealth and you're having all this cash back reward points for travel for shopping for other purchases as well all right so the third one right here is my favorite is the chase inc business preferred card and i love it so much that i actually created another business just so i can go through and open up a second card reason being is because they give you three times the points on paid advertising and if you guys been following my channel here for a while now you guys know that i spend a lot on paid ads so i've had months i've spent a hundred thousand dollars on paid advertising and so they give you the three times the points on the first 150 000 in paid advertising so once you've capped that out then you know if you spend another dollar then you just get one point per dollar which is still a huge benefit and then the nice thing with that too is those points will go farther for travel so basically if you have one point it's going to go one and a half times farther than if you use it on just like getting cash back or other shopping purchases now this card right here just like the capital one spark business card also has a 95 annual fee however when you sign up for this card and you spend fifteen thousand dollars in the first three months which if you're running paid ads if you're going through you have a real business going through and having these expenses you're gonna definitely spend fifteen thousand dollars in three months then you are going to get 100 000 points as a sign up bonus and those 100 000 points is equivalent to 1 250 of travel reward points now obviously you can go through take that out as cash for a thousand dollars which is awesome but if you go through and put it towards travel you have twelve hundred and fifty dollars towards your next travel whether it's a hotel an airline or whatever it might be now let's say that you are not big into paid advertising like myself on google ads facebook ads or any of those different platforms well let's say you travel a lot or your cable bill is super high or internet bill well all of those different purchases also get three times the reward points okay so if you're one that you're like are always traveling for meetings and different things like that well guess what just put on this card and you will also get three times the reward points on the first 150 000 that you spend on this card and so if you look at that when you go through and sign up for this card spend 15 dollars in the first three months then you're going to get that hundred thousand points as a bonus and then if you spend a hundred and fifty thousand dollars in one of those categories that you get the three times the points then you'll have 450 000 additional points for a total of 550 000 points that you can go through and use towards travel now you can pull out 5500 straight cash but if you use it towards airlines hotels things like that it actually goes a whole lot farther so this is my favorite guys chase inc business preferred so if you have a business i highly recommend going through and getting this credit card but make sure you're not just putting expenses on a credit card that you can't afford right i don't ever put any money on a credit card unless i know i can pay it off that month and honestly i pay off all my credit cards every single week just so i can know how much money i actually have in the bank on a weekly basis and so i'm not getting into deep debt and getting in deep trouble now one last card i'll throw in here and it's because i live in phoenix arizona as you guys know which is a hub for southwest airlines so it is the chase southwest rapid rewards and this really i don't use too much but what i've done is i've used it enough so i can get a companion pass so the way the companion pass works with southwest is once you go through and you spend a certain amount on this credit card or if you travel enough which i don't really travel a lot so i just go through and i spend the money on this card but now if i want to go let's say to mexico to florida to california wherever i want to go i get a companion pass for whoever is flying with me so typically i'm going to be taking my wife which means she flies for free and honestly i think it's like five dollars that you have to pay for some taxes or some slight expense but i get a free ticket so it's basically flying two for one just by going through and putting some expenses on this credit card it saves you massive amount of expenses when you're going through and traveling as well anyway guys i hope this video was helpful because when i first started my business six years ago i had no idea about this whole credit card world and how all the rewards worked which i know has become a little bit more popular since then but when i first started my business i just had the traditional wells fargo credit card for the first two years okay which if i would have had one of these cards that would have been worth tens or even 20 000 in just cash back or towards travel which would have been a nice perk to running your business so anyway guys thank you so much for watching if you found this video helpful go ahead give it a thumbs up also drop a comment down below i like to read every single one of the comments respond to them help you guys out best way possible and with that said i will see you in the next video

Channel: Jason Wardrop

Views: 16,207

Keywords: credit cards, small business credit cards, investing, investing for beginners, investing in your 20s, how to invest, how to invest in stocks, stock market investing, stock market investing for beginners, how to be a millionaire, credit score, credit score explained, credit card, credit cards for beginners, how to build wealth, how to build wealth in your 20s, best credit card, best credit card 2020, american express, chase sapphire, amex gold, discover it

Id: EeofttTvZfc

Length: 9min 36sec (576 seconds)

Published: Fri Nov 13 2020