Author Topic: Strategy for contractors  (Read 1572 times)

Offline ShtarkButRelatable

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Strategy for contractors
« on: January 17, 2024, 04:15:16 PM »
I'm trying to figure out what is the best credit card strategy for myself. I have a business where for each project I'm easily spending 3-10k in material alone from home depot or a different supply house. First off what would be the best card to maximize the points for buying the material. Right now doing it all on an ink business unlimited.

Whats the maximum amount of ink cards you can open in a year, as i understand theyre not subject to 5/24...


Offline sillypainter

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Re: Strategy for contractors
« Reply #1 on: January 17, 2024, 04:36:25 PM »
I'm trying to figure out what is the best credit card strategy for myself. I have a business where for each project I'm easily spending 3-10k in material alone from home depot or a different supply house. First off what would be the best card to maximize the points for buying the material. Right now doing it all on an ink business unlimited.

Whats the maximum amount of ink cards you can open in a year, as i understand theyre not subject to 5/24...

If you're into a GM family vehicles, get yourself a personal GM Marcus card. You earn 4 percent. I have it, took almost a year to get to a 39K limit, but I'm using it now and it works well for me. You can pay your lease or finance payments.

Offline Spoon

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Re: Strategy for contractors
« Reply #2 on: January 17, 2024, 10:22:14 PM »
If you're into a GM family vehicles, get yourself a personal GM Marcus card. You earn 4 percent. I have it, took almost a year to get to a 39K limit, but I'm using it now and it works well for me. You can pay your lease or finance payments.


Pure speculation but there may be changes coming to the card. Goldman is looking to sell the GM portfolio.

Offline yungermanchik

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Re: Strategy for contractors
« Reply #3 on: January 17, 2024, 10:34:42 PM »
See here
Small people talk about other people.
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BIG PEOPLE TALK ABOUT IDEAS.

Online baron

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Re: Strategy for contractors
« Reply #4 on: January 21, 2024, 12:23:26 AM »
See here
Can you actually do ink cash GC on a large scale? Is there absolutely no risk there?

Offline yelped

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Re: Strategy for contractors
« Reply #5 on: January 21, 2024, 11:20:56 AM »
Can you actually do ink cash GC on a large scale? Is there absolutely no risk there?
Up to $25k a year for 5%.

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Re: Strategy for contractors
« Reply #6 on: January 21, 2024, 11:29:48 AM »
Up to $25k a year for 5%.
Not what I meant. Was asking about the risk of shutdown etc involved if done on a large scale. Or do they have no info or interest as to what was purchased.

Offline yungermanchik

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Re: Strategy for contractors
« Reply #7 on: January 21, 2024, 02:54:28 PM »
Can you actually do ink cash GC on a large scale? Is there absolutely no risk there?
I don't have personal experience with it. I do have the Lowe's card and we can both gain if you open one. But you may do better with gift cards either purchased with ink at office supply stores or freedom at quarterly categories, or cash here or here.
Small people talk about other people.
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Offline Definitions2

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Re: Strategy for contractors
« Reply #8 on: January 23, 2024, 10:03:21 AM »
I think you can purchase discount coupons for home Depot that likely will give you more than 5% back.
My brother used to do that.

Offline ShtarkButRelatable

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Re: Strategy for contractors
« Reply #9 on: January 23, 2024, 02:51:27 PM »
I think you can purchase discount coupons for home Depot that likely will give you more than 5% back.
My brother used to do that.
Where do you buy these?

Offline Definitions2

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Re: Strategy for contractors
« Reply #10 on: January 23, 2024, 07:02:11 PM »
Where do you buy these?
I'm not sure. I just checked eBay and saw a few but it looks like it has to be with a home Depot cc

Offline Jkhein

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Re: Strategy for contractors
« Reply #11 on: February 26, 2024, 12:54:37 AM »
Are there any business cards that are able to list a description on the statement transactions, like the PO etc so it can be easily allocated to the correct job or site, when reconciling the monthly statement? Quite important for a contractor that spends lots of money for different jobs

Offline Definitions2

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Re: Strategy for contractors
« Reply #12 on: February 27, 2024, 12:41:36 AM »
Are there any business cards that are able to list a description on the statement transactions, like the PO etc so it can be easily allocated to the correct job or site, when reconciling the monthly statement? Quite important for a contractor that spends lots of money for different jobs
On chase business cards you can add a memo to each transaction. Not sure if that's good enough