Author Topic: best business credit card to use for utilities (Read 15429 times)

Smirk · « **Reply #20 on:** December 03, 2009, 12:35:24 PM »

Quote from: Dan 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.

yes i only spend what i prepay i make sure to never even dip into my 2k credit

mancunian · « **Reply #21 on:** December 03, 2009, 12:42:01 PM »

K - if any of these posts were regarding my q's - forget it - missed the point - next time

Dan · « **Reply #22 on:** December 03, 2009, 12:45:31 PM »

Quote from: mancunian on December 03, 2009, 12:42:01 PM

K - if any of these posts were regarding my q's - forget it - missed the point - next time

We got your point, and the answer is that the 50% rule of thumb is that on any given day in a statement period your total outstanding balance (as can be seen on amex's website) should be under 50% of your credit limit.

SuperFlyer · « **Reply #23 on:** December 03, 2009, 12:57:21 PM »

Quote from: Dan on December 03, 2009, 12:45:31 PM

We got your point, and the answer is that the 50% rule of thumb is that on any given day in a statement period your total outstanding balance (as can be seen on amex's website) should be under 50% of your credit limit.

I never knew this 50% rule, I always scratched the limit of my credit, and my credit limit did increase...

However, with the crisis now, they suddenly called me to inform me that my credit has been lowered to 37k, until I bring proof that I earn bla bla bla....

mancunian · « **Reply #24 on:** December 03, 2009, 12:57:51 PM »

Quote from: Dan on December 03, 2009, 12:45:31 PM

We got your point, and the answer is that the 50% rule of thumb is that on any given day in a statement period your total outstanding balance (as can be seen on amex's website) should be under 50% of your credit limit.

ok, thanks, and i would assume the same w/ other banks too, just not as strict, ya?

and is it positive, however, if your looking for them to raise your credit limit, so keep it around 49% or nothing to do?

b/c its long been the rumor that if cc companies see you spend they raise your limits...

SuperFlyer · « **Reply #25 on:** December 03, 2009, 01:06:16 PM »

What I do, is, that when speaking the credit card company, and I have a decent (=ambitious) guy on the line, I mention just by the way:"...ashame that I have such a low credit limit, and need make most of my spending on XXX"

XXX = a concurrenting card, but choose a top one, if calling MC, say amex plat, and so on.

Dan · « **Reply #26 on:** December 03, 2009, 01:06:27 PM »

Quote from: mancunian on December 03, 2009, 12:57:51 PM

b/c its long been the rumor that if cc companies see you spend they raise your limits...

That was the old rule, nowadays if you use your limits that means you're in financial trouble and will get your cards closed by issuer!

mancunian · « **Reply #27 on:** December 03, 2009, 01:07:42 PM »

what about 49% as opposed to 10%?

any issuer? even not when the statement closes? thats good to know!

SuperFlyer · « **Reply #28 on:** December 03, 2009, 01:14:58 PM »

Mancunian, I guess we can wish each other mazel tov, we've been promoted to Gold Elite Status here on the forum.

Apparently they will ban us here, if we buy regular (non award tix), especially full-fare ones, are a big no no.

So be careful.

mancunian · « **Reply #29 on:** December 03, 2009, 01:17:14 PM »

mancunian · « **Reply #30 on:** December 03, 2009, 01:40:51 PM »

just found this - perfect timing

https://www.chase.com/index.jsp?pg_name=ccpmapp/smallbusiness/business_banking/page/mp_chase_freedom_credit_card

same (it seems) - the categories however include the ones that used to be the only ones offered on the bus. card - airlines, rental cars, office stores, something else maybe

too bad i got declined for the old bus. freedom a month ago. they said i need a 6-8 year credit history to be approved for a bus. card.

Dan · « **Reply #31 on:** December 03, 2009, 01:48:49 PM »

Quote from: mancunian on December 03, 2009, 01:40:51 PM

just found this - perfect timing

https://www.chase.com/index.jsp?pg_name=ccpmapp/smallbusiness/business_banking/page/mp_chase_freedom_credit_card

same (it seems) - the categories however include the ones that used to be the only ones offered on the bus. card - airlines, rental cars, office stores, something else maybe

too bad i got declined for the old bus. freedom a month ago. they said i need a 6-8 year credit history to be approved for a bus. card.

"Maximum bonus rebate accumulation on Net Purchases earning a 2% bonus rebate is $40 per billing cycle, which equates to $2,000 in Net Purchases"

mancunian · « **Reply #32 on:** December 03, 2009, 01:57:22 PM »

mancunian · « **Reply #33 on:** December 08, 2009, 01:39:38 AM »

in my search for a replacement for the balance on my freedom card i discovered a that the sams club discover card gives 2% cash back and is available as a business card.

the 2% is on purchases between $10,000 and $1,000,000 with a $100 sams club membership (but its worth it b/c they have lifetime returns on digital cameras)

Smirk · « **Reply #34 on:** December 08, 2009, 11:24:30 AM »

Check this one out, You get 1 point for every $1 up to 1k and 2 points over 1k, unlimited amount and its a visa, points are redeemable from Capital One at 1c per point
http://www.capitalone.com/creditcards/products/details/?sol=11000&tc=4&credit=0&external_id=GAN_ZZ10401026_USCGAN_j26921173k125408_0-19539175

mancunian · « **Reply #35 on:** December 08, 2009, 02:52:09 PM »

1. thats $1k/billing period, the discover is annual

2. we hate capitol one here (

b/c they dont report your limit

Smirk · « **Reply #36 on:** December 08, 2009, 03:01:39 PM »

Quote from: mancunian on December 08, 2009, 02:52:09 PM

1. thats $1k/billing period, the discover is annual

2. we hate capitol one here ( b/c they dont report your limit

1. he said he's spending 1mill a year, so he shouldn't have a prob with that

2. if this is what gets him an extra 10k a year (and additional 1%) it might be worth it

3. i would guess more companies take visa over discover (could be wrong, don't really know)

mancunian · « **Reply #37 on:** December 08, 2009, 05:42:40 PM »

Quote from: AS on December 08, 2009, 03:01:39 PM

1. he said he's spending 1mill a year, so he shouldn't have a prob with that

2. if this is what gets him an extra 10k a year (and additional 1%) it might be worth it

3. i would guess more companies take visa over discover (could be wrong, don't really know)

1. prob w/ what - the first $1k or the spending limit? Why would that solve the prob w/ the spending limit? About the first $1k, that would come out to $12k a year @ 1%, which youre right is not much, but either way the discover is only $10k. Its a diff. of $40.

2. not so sure, maybe. but theres at lease (in this post) 3 other options for that.

3. you're right - pretty sure discover is the least accepted card - but the schwabb is a visa too and the fidelity is amex branded, if you're going with personal cards, and the discover is a business card. With all the options in this thread i dont see any reason to go with capitol one.

Smirk · « **Reply #38 on:** December 14, 2009, 04:49:35 PM »

YJ, Which card di you end up getting?

yj · « **Reply #39 on:** December 16, 2009, 12:59:07 PM »

Avi thanks for all your help i'm getting the amex plum and a visa ... I will let you know which one.

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Author Topic: best business credit card to use for utilities (Read 15429 times)