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5 Ways in Which You Can Use Credit Cards to Make Incredible Rewards While Running a Business

EPF Last Update: May 21, 2020

There are many ways to get great cash-rewards cards in your business. However, it can be hard to get the most out of your business credit card rewards. If only you manage those rewards carefully, you put yourself in a position to reinforce your business. Make it a habit of transacting with credit cards and earn more points or cash rewards.

Let first discuss the things business owners can do with their business credit card rewards before we get into details of ways to use credit cards for excellent rewards.

  • Employee perks. You can use your business credit card rewards to present employees some offers such as compensated leave (maternity or paternity) and disability insurance. Also, you can use your cash back rewards to benefit your workers as a token of appreciation.
  • Working capital. As discussed before, one can build his business with credit cards rewards. Also, when it comes to working capital, you can still get significant cash to further your business with the cash back.
  • Free business flights. If you pay your vendor by credit card for the previous six months, you’ll be in a position to earn enough points to enable you to fly to your essential business occasions. Remember, the flight is always free.
  • Enhanced business travel perks. Business credit cards offer a considerable number of travel perks such as VIP lounges. Once you get rewarded, you can travel to your destination comfortably. Remember, all of your traveling expenses are covered; thus, you don’t have to worry.

Consider Your Employees to Make More Rewards

As a business owner, it can sound good to consider your workers by issuing them credit cards. Also, remember not to charge them for extra employee cards. Interestingly, if you accept to grant them credit cards, you’ll be in a position to boost your rewards earning rate. For instance; let assume you pay a monthly compensation fee of $2,000 for issuing credit cards to your employees. Get assured, as the year ends; you would have made enormous points to advance your production.

Prioritize Your Credit Card to Pay Business Bills

It’s not an easy job to convince your customers to purchase with their credit cards. Some may take it hard to accept this payment mode; others may be unwilling because of the card processing charge. But once your request succeeds incredible rewards will be yours. You can use the following habits to sway them.

  • First, show them how safe it is to purchase with a credit card rather than cash.
  • Tell vendors once they agree to the use of credit cards, you will offer to pay in a week time (seven days), instead of the usual term (30-60 day term).
  • Also, influence them that within 24-48 hours, credit card purchases are usually funded compared to checks.
  • Remember to point out that credit card payments take a shorter time to get processed compared to other modes of payment.

Use Digital Wallets to Earn Great Rewards

Use of digital wallets such as Google Pay, Apple Pay, and PayPal has improved our living above all to entrepreneurs. Though, some digital wallets such as American Express don’t award points. When you pay your bills with these digital wallets, you can be in a position to earn additional points or rewards. Is this not great good news? Remember, as a business owner; you can benefit a lot with these rewards by empowering it to a better level.

Earn Extra Points by Using Online Tools

Online tools such as Plastiq are incredible. The tools allow one to make payments with the credit card though, charged little. You can prefer using the Plastiq tool to pay all kind of bills such as insurance, goods, and rent bills. With all these payments, you can still earn rewards, air miles, and cash back which are offered by your business credit card. Remember, you can benefit more if you get additional savings from your credit card rewards. As said earlier, few dealers may fail to accept credit cards payments. Therefore, you can solve the matter by introducing them these available online tools.

Getting The Right Business Credit Cards

Business owners should know the importance of running their business with credit cards. However, the most critical part is to get the right credit card for their company. Also, they should note that numerous credit cards present rewards in a specific class for payments. That’s why it’s indispensable for employers to choose the right credit cards based on their business.

As we have seen, it can be fascinating to embrace credit card payments to earn more rewards. However, the number of points a business owner can get after making payments with credit cards depends on the number of bills. Meaning, the more business bills you pay, the higher the points. Remember, even the little you can get (rewards or points), you can still invest back into the business.

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