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Recommended professional credit cards

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  • Recommended professional credit cards

    I'm starting an S corp soon for private practice (beginning 2022). Will have many business related expenses soon: website name/domain, business cards, scrubs, incorporation fees, etc. I spoke with accountant today who noted banks often won't authorize a new business credit card until a couple years into practice. In the meantime he recommended getting a separate personal credit card for business only activity. Then he can set the corporation to pay cc dues.

    So I'm asking the hive mind what do you use - those of you in private practice. Which credit card do you have/like for your business? Any recs would be greatly appreciated.

    Thanks!

  • #2
    I think it's just a matter of what perks you want the new card to offer. It would be hard to go wrong with a 2% cash-back card (with the cash going back into the business, of course). Citi Double Cash might work well for that.

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    • #3
      Originally posted by artemis View Post
      I think it's just a matter of what perks you want the new card to offer. It would be hard to go wrong with a 2% cash-back card (with the cash going back into the business, of course). Citi Double Cash might work well for that.
      Yes that's exactly the card I was looking at -- the Citi double cash (2% back on all purchases). I'd prefer easy without much fuss.

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      • #4
        You should use this card only for business expenses. Also, because they are business expenses. The IRS has ruled any cash back or other direct benefits reduces the deduction for those expenses.

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        • #5
          It doesn't get any easier than cash back. And putting the cash back into the business coffers makes for a clean set of books, too. There's no question about whether you're appropriating a business asset for personal use (as there could be when it comes to flexible bank points, hotel points, or airline miles).

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          • #6
            if you qualify, USAA's 2.5% cash back card is great

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            • #7
              Depends on what you want in terms of rewards. You can go with straight cash back, flexible points, specific travel rewards, etc...

              The Chase Ink Business cards have great welcome bonuses worth $750 to $1,250+ when you meet the minimum spend. Pair with a personal Chase Sapphire Reserve, and the Ink Business Unlimited essentially gives you 2.25% back on everything.

              The Capital One Spark Cash or Miles cards are 2% back on everything cards.

              Details on these and many others: https://www.physicianonfire.com/best...-credit-cards/
              Small business owners should take advantage of rewards and cash back offers exclusive to them. The best business credit cards for small business owners in 2021.

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