Author Topic: I need to open up a new credit card for a new business. What is the best one?  (Read 1206 times)

Offline ghurty

  • Dansdeals Silver Elite
  • **
  • Join Date: Sep 2009
  • Posts: 54
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
I need to open up a new credit card for a new business. What is the best one for me to go with? My other cards are currently: Ink Bold, Amex Plat, Amex SPG (business and personal), Saphire Preferred and JP Morgan Reserve.

Re the recommended card, is there any good sign up bonus for it currently? Or should I wait a bit.

Thank you

Offline Naftuli19

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jun 2018
  • Posts: 1357
  • Total likes: 73
  • DansDeals.com Hat Tips 0
  • Gender: Male
    • View Profile
  • Location: NYC
  • Programs: I wish all...
Ink preferred 80k for 5k spend.
Sometimes You Will Never Know the True Value of A Moment Until Its Become A Memory...

Offline ghurty

  • Dansdeals Silver Elite
  • **
  • Join Date: Sep 2009
  • Posts: 54
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Thank you. I can get that even though I have an Ink business plus on my other business name?  The new credit card is being used for construction purposes and then long term for minor business expenses. So I am expecting it to spend about $250k over the next few months and then $5 - $10k per year.

Is the Ink preferred good just because of the signup bonus or is it good for long term use as well? Thank you

Offline chbochur

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: May 2015
  • Posts: 533
  • Total likes: 25
  • DansDeals.com Hat Tips 0
    • View Profile
Thank you. I can get that even though I have an Ink business plus on my other business name?  The new credit card is being used for construction purposes and then long term for minor business expenses. So I am expecting it to spend about $250k over the next few months and then $5 - $10k per year.

Is the Ink preferred good just because of the signup bonus or is it good for long term use as well? Thank you
In this case I'd go with the ink preferred for the sign up and the ink unlimited for the 250k spending. the unlimited will give you an extra .5 points per dollar spent (unless there's a specific category of spend which that might change things).
Unless you just want cash back as opposed to points in which case I'd suggest the capital one Sparks cash card which will give you 2 percent cash back (value comes out to be slightly less then the chase cards after points)

Offline ghurty

  • Dansdeals Silver Elite
  • **
  • Join Date: Sep 2009
  • Posts: 54
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
Can I convert the Preferred into the unlimited after I get the bonus points?

Offline chbochur

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: May 2015
  • Posts: 533
  • Total likes: 25
  • DansDeals.com Hat Tips 0
    • View Profile
Can I convert the Preferred into the unlimited after I get the bonus points?
I believe so but then you'll lose out on the sign up bonus on the unlimited. You can transfer the credit line after if needed.

Offline Naftuli19

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jun 2018
  • Posts: 1357
  • Total likes: 73
  • DansDeals.com Hat Tips 0
  • Gender: Male
    • View Profile
  • Location: NYC
  • Programs: I wish all...
Can I convert the Preferred into the unlimited after I get the bonus points?
recommended after a year.
Sometimes You Will Never Know the True Value of A Moment Until Its Become A Memory...

Offline ghurty

  • Dansdeals Silver Elite
  • **
  • Join Date: Sep 2009
  • Posts: 54
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
So if the $250k in purchases will be done within the first year, and I do not want to open a credit card just for the sign up bonus and a second one for the purchases. What would be the best way to do it?

Thank you

Offline chbochur

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: May 2015
  • Posts: 533
  • Total likes: 25
  • DansDeals.com Hat Tips 0
    • View Profile
So if the $250k in purchases will be done within the first year, and I do not want to open a credit card just for the sign up bonus and a second one for the purchases. What would be the best way to do it?

Thank you
Well I'd have to go with the ink unlimited which the sign up is 50,000 (as opposed to the preferred which is 80,000) but you'll make it back in the spending very quickly

Offline ib3

  • Dansdeals Gold Elite
  • ***
  • Join Date: Apr 2017
  • Posts: 140
  • Total likes: 5
  • DansDeals.com Hat Tips 0
    • View Profile


My other cards are currently: Ink Bold, Amex Plat, Amex SPG (business and personal), Saphire Preferred and JP Morgan Reserve.




Well I'd have to go with the ink unlimited which the sign up is 50,000 (as opposed to the preferred which is 80,000) but you'll make it back in the spending very quickly

With a spend of 250k, I assume there will be many purchases above 5k, so may be worthwhile going for the higher sub, and using the amex plat for purchases above 5k

Offline ghurty

  • Dansdeals Silver Elite
  • **
  • Join Date: Sep 2009
  • Posts: 54
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
What is the benefit of going with the Plat for over $5k?

Offline chbochur

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: May 2015
  • Posts: 533
  • Total likes: 25
  • DansDeals.com Hat Tips 0
    • View Profile



With a spend of 250k, I assume there will be many purchases above 5k, so may be worthwhile going for the higher sub, and using the amex plat for purchases above 5k
Good point. Although if he plans on using it himself Chase will probably still be better

Offline US

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Aug 2017
  • Posts: 953
  • Total likes: 24
  • DansDeals.com Hat Tips 1
    • View Profile
What is the benefit of going with the Plat for over $5k?
for transactions over 5k you get 1.5

Offline chbochur

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: May 2015
  • Posts: 533
  • Total likes: 25
  • DansDeals.com Hat Tips 0
    • View Profile
for transactions over 5k you get 1.5
Yes, and with the ink unlimited you always get 1.5

Offline Naftuli19

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jun 2018
  • Posts: 1357
  • Total likes: 73
  • DansDeals.com Hat Tips 0
  • Gender: Male
    • View Profile
  • Location: NYC
  • Programs: I wish all...
Yes, and with the ink unlimited you always get 1.5
You will need another chase card like the preferred to make worth of the 1.5
Sometimes You Will Never Know the True Value of A Moment Until Its Become A Memory...