Business Owners Options For Using Rebate Cards For Purchases
If you are a business owner it may be worth your time to look into rebate cards that offer you a special perk in exchange for using their cards. You are probably already familiar with these types of credit cards as a regular consumer given the fact that many top credit companies offer incentive programs or cash back programs. However, it may not have occurred to you that you can also take advantage of these types of deals as a business owner. If you are going to open a line of credit or make major purchases for your business you might as well be rewarded for it.
Most of the major credit card companies including Visa, Discover, MasterCard, and American Express offer their business users special deals. These special deals usually include rebates or incentives for spending certain amounts of money. The deals are tiered to make using a larger credit line more rewarding, and as a business owner so long as you stay on top of your balance this will work to your advantage as you can reach larger tiers and see larger cash back or larger rewards for doing so.
For example, some credit lines for small or large businesses come with a .5% cash back rate. Obviously, the more you spend the more you will get back. Therefore, it is worth it to monthly place all of your business purchases onto your credit line so that the end of the month you get a large amount of cash from your card. Spend $10,000 and you will receive $50.00 back, spend $20,000 and you will receive $100.00 back. This may not seem like much at first, but consider the rebate amount at the end of the year would respectively be $600 and $12,000 and it is easy to see how the benefits add up.
Keep in mind that this is money you would spend anyhow, therefore, finding a way to get a reward back while spending is only logical. The trick is to make sure that you stay on top of your credit line while accepting the large rewards. It is easy to let a balance roll over but then the interest will roll over as well and any potential rewards or cash that you would have earned will be canceled out by the high interest rate that is now attached to your spending. Therefore, it is vital that you only spend what you can pay off every month or before interest kicks in or the rewards are not going to be as great as they sound.
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