Geoff Whitmore is lead traveler/writer at NoobTraveler.com, a blog dedicated to educating its readers on reward travel, travel tips, and cost-saving travel techniques.
Having your own business can be a pain, but we all know there are a ton of positives such as: freedom, being your own boss, creative control, tax write-offs, and a big one for me…business rewards credit cards.
If you have your own business, you have expenses. Some businesses have more bills than others, but there are always costs or purchases being run through a business. Some businesses will have shipping, gas, and production costs, while others may spend their money on ads and Internet marketing. My business expenses include travel, ads, meals and entertainment. Yep, a lot of business lunches.
OK, you get that businesses spend money. So, here’s the deal: If you aren’t using a business rewards or cash back credit card, you are losing money. Maybe it’s money that you didn’t know existed, but there is true opportunity lost. My motto is “If I’m spending a dollar and I’m not earning a point, I’m not getting the full value out of my dollar.”
Extra bonuses are even built into these cards for specific purposes. For example, the The Business Gold Rewards Card(R) from American Express OPEN will get you 3x points per $1 on airfare and 2x points on advertising, gas, and shipping. On anything else, you will get 1 point per $1. The Chase Ink BoldSM with Ultimate Rewards will net 5x points per $1 on all office supplies, Internet/cable, and wireless communications–plus 2x points per $1 on gas. These extra bonus categories can really help to grow your rewards balances.
The points or miles you are earning aren’t just throw-away points. They are as good as currency, and the value is insane. I have used my miles and points to travel across the world for pennies. I have taken trips that I never would have been able to take without the help of miles and points. I have even been able to travel all classy in the front of the plane–and there isn’t anything special about me. I just use my rewards cards for all of my spending and watch the miles stack up.
Another great perk is that when you sign up for a rewards card, there is often a large bonus that comes along with the card. Signup bonuses can range from 25,000 to 100,000 miles. We are talking about hundreds, and in some cases thousands of dollars, just for signing up for the card. It’s up to us to take advantage of the sweet offers while they’re out there.
I have consulted many businesses and I’m always shocked when they have no rewards cards. Business owners are similarly shocked when they find out how much value they are losing. I consulted one business owner who was spending $20,000 per month on ads and wasn’t earning anything back besides what he paid. He is now raking in the miles and traveling like an Egyptian Princess.
The point is that no matter your business (S-corp, LLC, or even a Sole Proprietor), there is a rewards card out there that can meet your needs and maximize your hard-earned dollars. Whether you want a card that earns miles for travel, points for various gift cards or gadgets, or just a card that gives you cash back, the options are out there. So, why not take advantage? It just makes sense.
Geoff Whitmore curates the best rewards travel deals in his daily blog posts and articles on NoobTraveler.com. The site particularly focuses on new travelers (or as they like to call them, “Noobs”), and it teaches its readers how to save BIG. All the while, the site maintains a humorous writing style that is both fun and informative.