Are you utilizing credit cards to your advantage? Did you know that you can earn points and rewards that can benefit you and your business? If not, you should! And I am linking some of my favorites below for you to check out.
In this episode:
- Credit cards for each business
- Using credit cards to your advantage
- Points and Rewards.
Andrea’s Recommended Credit Cards:
✚ American Express, learn more here.
✚ Chase Ink – Earn 100,000 bonus points with the Ink Business Preferred® card or $750 bonus cash back with the Ink Business Unlimited® card or Ink Business Cash® card.
I can be rewarded too, learn more here.
The Dream Bigger Conference Tickets are now 50% off for all tickets! Get your tickets here!
Legalpreneur App is LIVE! Now is a great time to join the Legalpreneur Membership!
Do you need help creating protections for your podcast? Send me an email at [email protected] for more information.
The Legalpreneur Podcast is advertising/marketing material. It is not legal advice. Please consult with your attorney on these topics. Copyright Legalpreneur Inc 2022
Episode 208: All About Credit Card Rewards Transcript
Andrea: [00:00:03] Welcome to the Legalprenuer Podcast. I’m your host, Andrea Sager, founder and CEO of Legalpreneur, Inc. As a serial entrepreneur and someone that works exclusively with small business owners legally protecting their business, I’m dedicated to covering common legal issues faced by business owners, providing you with the business knowledge you need to catapult your businesses growth and showing you just how some of the world’s most elite entrepreneurs have handled these legal and business issues themselves in true attorney fashion. The information in this episode is not legal advice. This is for informational purposes only, and you should always consult with your attorney before implementing any of the information in the show. In case you missed it, our flash sale for Dream Bigger is now over. That crazy good deal that you’ll never see again. It’s gone, however. Tickets are actually now 50% off. General VIP. Whatever you want. 50% off. Get them now because this event is going to sell out. I don’t know when, however, it will sell out. We are so excited for this. We have Ali Webb, Danielle Canty, Pauleanna Reid. We have Chris Harder. Lorie Harder. So many more big names that are going to be announced soon. So stay tuned. But for now, go get your ticket 50% off and get those rooms booked as well. I cannot wait to see you in Phoenix October 5th thru 7th.
Andrea: [00:01:38] Hey there. Welcome back to another episode of the Legalpreneur podcast. Today’s episode, I’m covering credit cards, specifically business credit cards. And I, I didn’t realize how many people didn’t use credit cards. And I completely understand if you do not use them. However, I want to talk about how I use them for my benefit because you guys, number one, I have not paid for a flight and I don’t know how long and I since COVID. So I would say since at least for the past year, I haven’t flown anything other than first class. And I don’t say that to brag. I say that I haven’t paid for a first class flight either. It’s all been done with credit card points. So I want to make sure that you guys are using this to your advantage. And I actually and I’m also going to mention all of my personal credit cards because money mindset has money stuff has been on the brain lately for me. And so I want to just chat about this with you guys and hopefully it helps. So depending on how many businesses you have, you can have a credit card, multiple credit cards for every business, and you can also have personal credit cards, hopefully. I mean, you all should know this. So I’m just going to run through like the credit cards that I have. Number one, like I just said, I don’t even pay for flights anymore.
Andrea: [00:03:13] And I’ve been flying first class for almost two years now and. I have talked about this briefly on the podcast. I think I don’t know if I really talked about it in detail, but in December, this past December, I went on my first solo vacation, my first solo trip. And when I say solo, I travel alone all the time, but it’s always for business. And last year I had a phone call with Emily Williams. She’s incredible. She’s the CEO of iHeart. My Life, if you don’t follow her, if you’ve never heard of her, like seriously, you need her in your life. Well, I had been wanting a. Money mindset call with her. And so I finally had one and it was we were going into funding like starting to raise our round and just all the things I was like, I really want this done now. So we have this call and before the call she asked this question, Hey, or the question on the intake form was, what’s your ultimate goal? And my ultimate goal is to have a net worth of like $100 million. And so she comes to the club and she’s like, Well, that person who has that net worth, that version of Andrea that has that $100 million net worth, what would she be doing this week? And my kids had just left to Kentucky for the Christmas break with their dad.
Andrea: [00:04:35] And I was like, oh, she’d be like lying on a beach in Mexico somewhere, something just like lounging by the beach. She’s like, Well, go do that. And I was like, Oh, but I can’t like coming up with all these reasons. And of course, I was using money as a reason, which I didn’t like. I was trying to save as much money as possible because going through this transition, like I’m not as flush, let’s just say as I was a year and a half ago, two years ago. So money has been very much on the mind and not wanting to splurge too much. So she was telling me like, Hey, come up with all the ways you could pay for it. And basically by the end of the call I was like, You know what? I think I have enough credit card points and I look literally an all inclusive resort, plus a first class roundtrip flight. Done paid for all the credit card points. And so at that point, you still had to have a COVID test to travel. And I went to the place that I go to for my COVID test, and normally they charge for travel. Or when I went to Italy, I did have to pay for a travel COVID test. And they were like, No, you have insurance that’s covered. And I was like, What? I literally didn’t have to pay a dime for the entire trip.
Andrea: [00:05:48] Like, obviously I paid money. Like I tip drivers. There were some things that I paid for, but the entire hotel, it was an all inclusive resort, first class flights, everything paid for, all the credit card points. And so that’s why I want to make sure that you all know credit card points use them. And the thing is, especially even if you have a business credit card, even though you’re racking them up for the business, you can use them personally. So that’s my thing. I use my business credit cards for all my business expenses and then I use them for personal things, personal travel. So it’s a benefit to myself. And so I’m actually going to my goal is to make it an annual tradition to go somewhere like the week before Christmas on my own. And that’s like my solo vacation. I plan on doing it again this year and I have way more than enough points. So the credit cards that I have. So Andrea Sager law, the law firm has the Chase Inc credit card and I do have links in the show notes. These are all referral links. So giving the notice like, Hey, I will make something if you use these and get approved, you’ll also get a bonus as well. So Chase Business Inc is the law firm credit card. This is where I put most of my expenses, and that is the main card that I used for my trip last year.
Andrea: [00:07:20] So the link is there in the show notes. I love this credit card just because I mean, it’s not as I mean, it’s not as high as it could be with American Express. So I do have one American Express I’m going to chat about in a second. But this one, my current limit is 42,000. That should be enough for most businesses. Other businesses may need a higher limit, but I know it just depends on what your annual revenue is and these business credit cards do. At first, you get approved based on your personal credit score. So make sure that your personal credit score is up to snuff and high enough to get approved for these business cards. And eventually you can get to the point where they don’t have to run your personal credit, but when you’re just getting started building business credit, they do have to run your personal credit. So for Andrea Sager Law Chase Business Inc link is there in the show notes for Andrea Sager, LLC. This is for basically the entity that I use for affiliate stuff, influencer sponsorship stuff that is all run through. Andrea Sager, LLC. I have the American Express Business Card and of course there is a link in the show notes that American Express, they are incredible because of the transfer partners that they have.
Andrea: [00:08:41] I have tried to do the transfer partner stuff with Chase. It just isn’t as great as American Express. I don’t have an American Express for Legalpreneur or the law firm. I am just I’m afraid, like I’m like, oh my gosh, all these credit cards. And here I am talking about having all these credit cards, but I’m still, like, afraid to go. I’m like, Oh, I already have the Chase Business Inc. I already have these other credit cards, but with all the points I know, I need to really double down and take advantage of them for every business. But for the American Express card, this special referral offer that I put in the link that basically it’s normally 15,000 points that you can get. However, right now it’s 25,000, so. Use the link. Get approved. Webcam. You got it. And of course, with both of these, there are special offers. In Chase and the American Express website. You can go in and look at all of the special offers that you have. So there’s like four. I’m looking specifically right now at the American Express offers. There’s Amazon, Marriott, FedEx, Best Buy, $120 back on wireless. So if your cell phone is that, you basically would pay for your cell phone. And there’s a ton of other ones, but those are the main ones that pop up. Now, the other credit card that I have is Brex.
Andrea: [00:10:11] This is this won’t apply to most of you. It is for startups. This is for Legalpreneur. It’s a MasterCard that is specifically the card that I have for Legalpreneur. Brex talking really quickly about Brex. It’s specifically for startups. They were working with small businesses, but they did cater. They did transition back to really just working with startups. I am looking for a specifically a small business bank or small business credit card that is really beneficial for small businesses. I will report back once I find that so. Also what I want to touch on is personal credit cards, because I think this is really important. I remember growing up so I we all have like these money stories that stick with us. And one thing that always stuck with me was growing up, my uncle, who seemed like he always had plenty of money, he was trying to buy a house and couldn’t because he didn’t have enough credit. And I remember it was like this big, gorgeous house, like he had the money. Like the money wasn’t the issue. It was the fact that he did not have credit. And so this I think this happened when I was in middle school. So middle school going to high school, I think this is when it happened. He he eventually did get the house. Something happened. I don’t remember. I mean, so long ago, but that has always stayed with me.
Andrea: [00:11:41] So I remember I’m like, I’m not going to let that happen to me. And so I’m going to open a credit card as soon as I turn 18. So the first credit card I got was Capital One. I still have that to day. The limit there is, I think like 45. It’s less than 5000. Super low limit. I actually think it was like 1000 or 2000 for a long time. So it’s slowly gone up over time. It’s not something that I put a lot of charges on. I’ve just had it since I was 18 and so I will never, ever close it. It’s just something I’m like, This is how I started my credit journey and I want to make sure that I always have good credit. So Capital One personal credit card, less than 5000 limit. The other personal credit card that I have that I actually don’t have a physical card for right now is the Chase Sapphire card. That’s my purse and my main personal card that I use. Now, I think that limit right now is like 12,000. That is what I mainly use for personal stuff, only because the points are better than the capital one. So the capital Capital One card that I have, it’s 1% and then I just use it for cash back. Like I just apply it to the statement, whatever it is. And so I try to maximize these points as much as possible because, hey, if it’s free, it’s for me.
Andrea: [00:13:05] And why not? So that’s my little spiel about credit cards. Don’t be afraid to use them. I sometimes I would catch myself like, Oh, I don’t. You heard me. I’m like, I’m scared and. It’s just. Searching for things at a later date. So some people have credit card trauma. I don’t think I have credit card trauma. I’m just like, oh, I’m scared that it’ll get out of hand if I have too many credit cards. So I have one for each entity right now. And then I have my Capital One card that I started when I was 18. And then my chase, sapphire or Chase Sapphire, that one is my main personal credit card. So that is my credit situation. Let me know if you have questions. I have linked the business credit cards in the show notes. Again, if you apply and get approved, we’ll both get a bonus. So. Yeah, don’t be afraid to use credit cards. Also, I mean, don’t go crazy with them. Don’t let it get out of hand. I understand that that’s a real issue for some people. But yeah, use those points like there’s so many other things you can use them for. I mean, I got an entire all inclusive round trip trip paid for. So. Use those points. All right, guys, I’ll see you next time.
Andrea: [00:14:31] And let me know if you have any questions. Here at Legalpreneur, we’re committed to providing a supportive legal community for all business owners. I know how scary the legal stuff can be. If you found this information helpful, I would be so grateful if you could share it with the fellow business owner. And quite frankly, it doesn’t cost anything to rate, review or subscribe to the show. Your support helps me reach more listeners, which allows me to support more business owners in their entrepreneurial journey. Have any questions or comments about the show? Feel free to drop me a line on Instagram, I promise. I read all of the messages and comments and if you want to be a guest on the show or know someone that would make a great guest, simply fill out our application form and a team member will reach out if we think it’s a good fit. I’ll see you in the next episode.