Question
I serve as treasurer for three different companies, and am looking at the credit card choices at each right now..
One has a Business Amex with Membership Rewards. I'm likely to upgrade it to the Platinum Amex, but tightly control its distribution. I will need a Visa/MC that allows for setting inidividual spending limits as well.
The second one has two different Mastercards -- one from a bank that offers no rewards but charges a fee, and an AA MasterCard with a low limit (and despite perfect credit and millions in cash, they won't increase the limit). I'd like to consolidate with just one card, but can't use the AA MC b/c of the low limit.
The third has the UA Visa.
There have been threads on the best card for small business before, but really the question hasn't been answered.
See, for instance:
Best Airline Miles Card for Small Business (http://www.flyertalk.com/forum/Forum112/HTML/000372.html)
Best Business Card? (http://www.flyertalk.com/forum/Forum112/HTML/000295.html)
Best Visa/Mastercard Offer for Small Business (http://www.flyertalk.com/forum/Forum112/HTML/000369.html)
So it isn't as though I'm ignoring the search engine.
I'm interested in--
a) signup bonuses and rewards
b) customer service
c) individual spending limits
d) decent credit line (given good credit and plenty of $)
Any thoughts, especially other than the AA Mastercard and UA Visa -- or any suggestions on how to get decent credit lines?
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View from the Wing (http://www.webflyer.com/blog): A blog about Free Miles and Free Markets
Answer
I've never seen anyone mention it here before but MBNA has a card that gives you 2% into a child or grandchild's education account
http://personal.fidelity.com/products/checking/content/mcplatplus.shtml
With the devaluation of miles and bankruptcy of airlines it is worth looking at. I don't think it is the exact answer to your question but if you are tierd of worthless CO miles or scared of bankrupt or near bankrupt AA, US and UA miles or part of the delta rebellion it may be time to get your rewards in hard cash.
P.S. studies show people spend 15% more using credit than cash and 25% more using the company plastic.
Answer
bump
Answer
the MBNA card looks really good with the 2% thing. is there any catches? is there a yearly limit? do you actually have the card? I hope they don't cancel the program after just a year, so I get stuck with a small balance in 529 account.
Answer
my company uses Advanta Business cashback card at www.advanta.com, (http://www.advanta.com,) reasons:
1. no annual fee.
2. no cap
3. cash, cash, cash.
there is currently a double cash back promo till 11/03. so it is up to 4% cach back. we just started using it, so can't tell you if there is any problems. I am not sure if Advanta is a reputable company. the catch is you have to be a big spender. We are. the MBNA 2% back card looks good, I will probably apply for it also.
regular cash back table is:
How are my cash back rewards calculated?
Every year (through your fifth program enrollment anniversary), you will earn incrementally higher cash back rewards based on a percentage of your annual level of account purchases. Your account must be active and in good standing to be eligible. Cash back rewards will accrue in accordance with the following schedule:
Year 1
0.25% on the first $5,000 in purchases; 0.50% on purchases between $5,001 and $10,000; 0.75% on purchases between $10,001 and $15,000; 1.00% on purchases between $15,001 and $25,000; 1.50% on purchases between $25,001 and $50,000; and 2.00% on purchases over $50,000.
Year 2
0.30% on the first $5,000 in purchases; 0.60% on purchases between $5,001 and $10,000; 0.90% on purchases between $10,001 and $15,000; 1.20% on purchases between $15,001 and $25,000; 1.75% on purchases between $25,001 and $50,000; and 2.25% on purchases over $50,000.
Year 3
0.35% on the first $5,000 in purchases; 0.70% on purchases between $5,001 and $10,000; 1.05% on purchases between $10,001 and $15,000; 1.40% on purchases between $15,001 and $25,000; 2.00% on purchases between $25,001 and $50,000; and 2.50% on purchases over $50,000.
Year 4
0.40% on the first $5,000 in purchases; 0.80% on purchases between $5,001 and $10,000; 1.20% on purchases between $10,001 and $15,000; 1.60% on purchases between $15,001 and $25,000; 2.25% on purchases between $25,001 and $50,000; and 2.75% on purchases over $50,000.
Year 5 and Beyond
0.45% on the first $5,000 in purchases; 0.90% on purchases between $5,001 and $10,000; 1.40% on purchases between $10,001 and $15,000; 1.80% on purchases between $15,001 and $25,000; 2.50% on purchases between $25,001 and $50,000; and 3.00% on purchases over $50,000