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What is the best credit card to use for utilities?
Basically the answer is you should use the card you use for everyday purchases.


Author Topic: best business credit card to use for utilities  (Read 15313 times)

Offline yj

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best business credit card to use for utilities
« on: December 02, 2009, 02:19:11 PM »
Dan, what card will earn me more than 1% cashback, on utility bills? Our company spend about $1,000,000 on utilities per year.

Offline Dan

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Re: best business credit card to use for utilities
« Reply #1 on: December 02, 2009, 02:49:25 PM »
I'd go with the Starwood AMEX if you can pay by AMEX.
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Offline steve2

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Re: best business credit card to use for utilities
« Reply #2 on: December 02, 2009, 03:12:13 PM »
Dan, what card will earn me more than 1% cashback, on utility bills? Our company spend about $1,000,000 on utilities per year.

 I believe a Schwarb CC is 2% back on everything , but check it out to be sure
Cap1 is 1% plus a another 1/4% at the end of the yr

 I think Amex has a CC that gives back 5% dont know if its a sliding scale or not, I think its their Blue CC, but not all Utilities will take Amex some wont even take MC or Visa

 then again with $1M in bills means youd need a CC with an extremely high Credit Limit to be able to keep using the same 1

Offline Dan

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Re: best business credit card to use for utilities
« Reply #3 on: December 02, 2009, 03:26:09 PM »
You may still be able to get a Chase Freedom card with a Chase bank account and get 3% for your highest spending categories.
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Offline yj

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Re: best business credit card to use for utilities
« Reply #4 on: December 02, 2009, 03:40:22 PM »
I appreciate that.  we are looking for cashback specifically.   I will check out schwab.  By the way Dan I moved to cleveland recently....

Offline steve2

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Re: best business credit card to use for utilities
« Reply #5 on: December 02, 2009, 03:46:50 PM »
I appreciate that.  we are looking for cashback specifically.   I will check out schwab.  By the way Dan I moved to cleveland recently....

 heres a link to FT where they discuss the Schwab CC; http://www.flyertalk.com/forum/other-credit-card-programs/895629-schwab-invest-visa-2-cash-back-everything.html

 Dan I dont know if linking like this is OK within your T&Cs if Not I apologize ahead of time and Im sure you will dully notify me if I wronged and Rightly so

Offline mancunian

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Re: best business credit card to use for utilities
« Reply #6 on: December 02, 2009, 05:00:58 PM »
You may still be able to get a Chase Freedom card with a Chase bank account and get 3% for your highest spending categories.

I'll add you as an authorized user on mine :)
& its 3.75% if you calculate the $50 bonus

I appreciate that.  we are looking for cashback specifically.   I will check out schwab.  By the way Dan I moved to cleveland recently....

I looked for it recently and couldnt find it anywhere, not on their website, links dont work, google search - nothing.
maybe they dont offer it anymore?

fidelity has the same 2% thing btw

if your just looking for more than 1% theres a lot (i think) - the amex plum card gives 1.5% for early for full payments or something like that and its a business card

Offline steve2

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Re: best business credit card to use for utilities
« Reply #7 on: December 02, 2009, 05:32:16 PM »
I'll add you as an authorized user on mine :)
& its 3.75% if you calculate the $50 bonus

I looked for it recently and couldnt find it anywhere, not on their website, links dont work, google search - nothing.
maybe they dont offer it anymore?

fidelity has the same 2% thing btw

if your just looking for more than 1% theres a lot (i think) - the amex plum card gives 1.5% for early for full payments or something like that and its a business card

 had you looked at the last pgs of the link from FT I posted above you would have found this 1; http://www.flyertalk.com/forum/12566965-post302.html

 which would given you the link to what you were looking for: http://www.schwab.com/public/schwab/nn/customer_service/gaoservice.html?cmsid=P-3093846&lvl1=nn&lvl2=customer_service&&application_type=CC&SRC=WWW

 come on guys you have to do some of the Homework for yourselves going forward, I did after all post the link 2 posts above to the whole FT thread which is probably worth reading to get the jest of things and you would have had all  the answers and links needed. Most likely any question you will come up with was already asked on that FT thread even thou its 2 yrs old the info is there especially with the last post being 11/30/09 !

Offline mancunian

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Re: best business credit card to use for utilities
« Reply #8 on: December 03, 2009, 11:31:09 AM »
got me there - i really looked around a lot though

Offline SuperFlyer

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Re: best business credit card to use for utilities
« Reply #9 on: December 03, 2009, 11:38:48 AM »
One way to get around the credit limit problem, I guess, is, paying to your card upfront, meaning, being in credit by your credit card.

If it has such a good scheme, it might be worth it.

Offline mancunian

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Re: best business credit card to use for utilities
« Reply #10 on: December 03, 2009, 11:43:50 AM »
for sure you can do that - i used to all the time. i heard some banks dont accept it though.

or you could just make payments every other day until they realize and increase your limit - think they would?

Offline SuperFlyer

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Re: best business credit card to use for utilities
« Reply #11 on: December 03, 2009, 11:51:19 AM »
for sure you can do that - i used to all the time. i heard some banks dont accept it though.

or you could just make payments every other day until they realize and increase your limit - think they would?

Depends the country and card.

I have one Amex, where I used to have a $70k limit, but if my payment made me more than some $1500 in credit, they would call up all excited, and telling me not to do that as it my be considered mney l@undéring  (don't want it to appear in search engines).

My master card actually encouraged me to do this.

About increasing the limit: Amex would probably, but my european MC, keeps it based on income....

Offline mancunian

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Re: best business credit card to use for utilities
« Reply #12 on: December 03, 2009, 11:54:18 AM »
so you think if i want amex to increase my limits its a good idea to spen 49% a month?

Offline SuperFlyer

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Re: best business credit card to use for utilities
« Reply #13 on: December 03, 2009, 12:02:05 PM »
49%, not sure I understand.

Say you have a 10k limit, and halfway the month you have spent 8k, pay them 5k so that you can have spent this particular month 15k without having touched your credit limit.

I think this would increase your limit.

If you have some spare time, buy expensive thing that have a full refund policy, and pay some money into your account, so when refunding, the computer will have registered a high spending + being in credit.

Offline Dan

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Re: best business credit card to use for utilities
« Reply #14 on: December 03, 2009, 12:02:53 PM »
You can pay off your AMEX as soon as you make the charge (you dont need to wait for the statement to close), just try not to prepay too much.
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Offline mancunian

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Re: best business credit card to use for utilities
« Reply #15 on: December 03, 2009, 12:10:08 PM »
You can pay off your AMEX as soon as you make the charge (you dont need to wait for the statement to close), just try not to prepay too much.

you can do that with any card - most of my cards are maxed until the day before my statement closes but i dont do that w/ amex cause im scared -  does it matter if you go over 50% on an amex throughout the month, other than the balance on your statement?

what i was reffering to before is that i would assume if you consistently using a nice portion of you credit line and making payments they would probably be quicker to give you a credit line increase, im not saying this based on anything other than my own assumptions, not experience. That was my question.

If you have some spare time, buy expensive thing that have a full refund policy, and pay some money into your account, so when refunding, the computer will have registered a high spending + being in credit.

who needs spare time, i do that anyways, all you need is a costco card :)

Offline SuperFlyer

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Re: best business credit card to use for utilities
« Reply #16 on: December 03, 2009, 12:13:35 PM »
what I meant is never going over your spending limit, as they wont like it, but rather in the middle of the moth (before you get an invoice) pay them, so that your general expense throughout the month pass way your credit limit, but you were not at any time over your credit limit.

understood?

Offline Smirk

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Re: best business credit card to use for utilities
« Reply #17 on: December 03, 2009, 12:17:33 PM »
on my spg amex with a 2k limit, so far this month i have prepaid and spent over 50k on it, and have been doing the same for months

Offline mancunian

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Re: best business credit card to use for utilities
« Reply #18 on: December 03, 2009, 12:22:47 PM »
nonono - you still misunderstood me.

i'll be more specific.

by maxing out i did not mean going over your credit limit - i'm not sure if thats what it usually refers to, i was talking about like 90% of the limit. And obviously that would not be beneficial, i dont assume they like it, but it doesnt seem to hurt.

however: i have refrained from doing that with my amex cards, b/c i've seed dans big read bold warnings about that (dont remember if that was for all cards or just amex, but whatever, w/ them its probably worse).
now my question was if that at all would be an issue A. With Amex and
B. (why not once it came up) With other banks.

and to reiterate, when the statement closes it always (or usually) below 50%.

and my earlier question was (not that im expecting answers necessarily, just want to clarify for the record): would it be beneficial to use just below, but not above, 50% on an amex in order to be granted an increase on your credit line; not that making payments during the month would allow you more spending on your card, but that they would eventually up your limit based on such a spending habit.

ya?

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Re: best business credit card to use for utilities
« Reply #19 on: December 03, 2009, 12:24:44 PM »
Payments take your outstanding balance down.

You can spend $5K in a month with a 2.5K limit without a problem.  Just always keep your spending under 50% of your credit line.
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