I need to open up a new credit card for a new business. What is the best one?

[ghurty]

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

[Naftuli19]

Ink preferred 80k for 5k spend.

[ghurty]

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

[chbochur]

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)

[ghurty]

Can I convert the Preferred into the unlimited after I get the bonus points?

[chbochur]

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.

[Naftuli19]

Can I convert the Preferred into the unlimited after I get the bonus points?

recommended after a year.

[ghurty]

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

[chbochur]

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

[ib3]

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

[ghurty]

What is the benefit of going with the Plat for over $5k?

[chbochur]

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

[US]

What is the benefit of going with the Plat for over $5k?

for transactions over 5k you get 1.5

[chbochur]

for transactions over 5k you get 1.5

Yes, and with the ink unlimited you always get 1.5

[Naftuli19]

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

[chbochur]

You will need another chase card like the preferred to make worth of the 1.5

To make the points 1.5 cents per point yes but to get 1.5 points per dollar I don't think so (but can be can wrong so verify)

[Naftuli19]

To make the points 1.5 cents per point yes but to get 1.5 points per dollar I don't think so (but can be can wrong so verify)

correct u get 1.5 per $ spend but in order to transfer to airline/hotels u need the preferred ( like freedom unlimited and sapphire)

[ari3]

correct u get 1.5 per $ spend but in order to transfer to airline/hotels u need the preferred ( like freedom unlimited and sapphire)

OP did state he has saphirre preffered

[ib3]

Correct, but op also indicated that he only wants to open 1 card.
We're trying to figure out how he can get the biggest SUB, and get the most points for spend.
80k sub  for ink preferred and use that card for all smaller spend
1.5  for all spend above 5k on amex plat.
The other choice would be to sign up for an ink unlimited, but only get a 50k SUB.
Are there any buss cards that give 2 ppd or 2% on all spend?

[Naftuli19]

Correct, but op also indicated that he only wants to open 1 card.
We're trying to figure out how he can get the biggest SUB, and get the most points for spend.
80k sub  for ink preferred and use that card for all smaller spend
1.5  for all spend above 5k on amex plat.
The other choice would be to sign up for an ink unlimited, but only get a 50k SUB.
Are there any buss cards that give 2 ppd or 2% on all spend?

Capital one spark