Who doesn’t want an empire of their own?
It’s also incredibly difficult.
You’ve got to juggle sending invoices to clients, processing orders, responding to questions, and actually completing the work your customers want. Oh, and if this is really a side business you still have a day job to manage as well. It’s hectic, often by the seat of your pants, and glorious. You’re the boss and you get to make all of the decisions.
However, there’s one problem with growing a side businesses: it is very easy to get so busy that you forget to do other important tasks like eating, laundry, taking a shower, and paying your bills.
One way that many people handle their bills is to set them up to be automatically paid every month. This is beneficial because it takes the thought out of having to open the envelope, pull out the bill, write the check… and so on. But when you automate your finances there is always the risk of an incorrect charge slipping by you (not as common) or worse yet missing out on deals or potential discounts from your suppliers (definitely more common). You instinctively delete the emails from the cable company offering you $10 off per month for 12 months if you renew today because you assume it is just marketing spam. You’re busy, you don’t have time to read marketing messages. Back to building your empire.
Instead of worrying about tracking down the best deal or the next coupon, wouldn’t it be nice to simply be rewarded for being a regular customer that pays on time? If you could find this great deal you wouldn’t have to constantly by on the lookout for the best deal and instead focus your energy on growing your small business or freelance practice. Most megacorporation service companies don’t work this way, but there’s still a way you can get an extra bonus for being a regular customer.
Get Rewarded for Business Expenses
There are certain credit cards available to business owners that target their rewards on specific business expense categories. The Chase InkSM Classic Business credit card does just that. Instead of giving you bonus miles for all the flights you never take, the Ink Classic Business card rewards you on categories that you probably use every month: telecommunications services like cell phones, cable TV, internet, and landline phones. You’ll also be rewarded for purchases at office supply stores, gas, and lodging for when you put together a great presentation for a client in another city that you travel to.
Chase Ink Classic Business Credit Card Rewards
Here is how the rewards program for this small biz credit card works:
- 5 points on every dollar spent on office supplies, cell phone service, landline, and cable services (up to $25,000 spent in this category each year)
- 2 points on every dollar spent on fuel and lodging (up to $25,000 spent in this category each year)
- 1 point per dollar on all other spending with no cap or limit on how many points you can earn
How to Maximize Your Rewards
Get 25,000 Bonus Points Worth $250
Wouldn’t a free $250 be a nice perk for spending money you would have spent regardless of whether or not you had this credit card? Chase will give you 10,000 bonus points after your very first purchase worth $100. You’ll also get an additional 15,000 bonus points worth $150 when you spend $5,000 on the card in the first three months of having the account. Those 25,000 points can be converted into statement credits, cash, gift cards, travel, and even merchandise. (The smart entrepreneur gets a statement credit or check and uses the money to continue to grow their business.)
On top of that, the $5,000 you spend to get the $250 bonus will also earn points based on the normal rewards program. If your $5,000 spending was all in the 1 point per dollar category you would earn another 5,000 points worth $50 in rewards. That would bring the total rewards up to $300 for the card.
On the other hand if you were able to get all of your $5,000 into the 5 points per dollar categories (that’s a lot of office supplies!) you would earn another 25,000 points in rewards. That would double your total reward points to 50,000 worth $500 in rewards.
No Annual Fee and 0% Interest Offer
On top of this business-oriented rewards program Chase’s InkSM Classic Business credit card can provide you 6 months of 0% APR on both purchases and balance transfers. If you needed to buy some capital equipment and spread the payments out over 6 months, this credit card will let you do that without paying a dime in interest.
Is there a catch? Aside from the bonus categories maxing out at $25,000 in spending each, not really. You will not pay an annual fee for this entrepreneur targeted credit card. Plus if you really start to grow and you hire employees, you can get them free authorized user credit cards so they’ll start earning rewards for you when you send them out to get supplies next month.