![]() That’s a great way to earn miles and help meet a spend threshold. My local natural gas company allows me to prepay up to $1,000 on a credit card for a $1.65 flat fee. The points and signup bonus will far outweigh that cost. If you overpay your taxes you can request a refund or apply it to your next year’s taxes. You can pay your federal taxes for a 1.87% fee. You’ll need to spend $5K on this card within 3 months for the 70K bonus and $25K within 6 months for the full 100K bonus. 3 points per dollar on Southwest purchases.2 points per dollar on social media and search engine advertising, Internet, cable, and phone services.That also means if you close the card, it won’t have an effect on your credit score. Additionally it’s good to have the statement close with a couple dollars to show the card is active and being paid every month. On an business cards from banks like AMEX and Chase it’s just not reported, so you can wait until the money is due without it having a negative effect on your score. ![]() You can pay off your card bill before your statement is generated to avoid that, but that takes effort and laying out money well before you have to. A whopping 30% of your credit score is based on credit utilization. That means that applying for these cards won’t “hurt” your 5/24 count.Īnother benefit of the card not reporting on your personal credit report is that when you spend money on personal cards your credit score will be hurt even if you pay your bill on time. That’s because business cards from most banks don’t show up on your personal credit report and the 5/24 count is based off of your personal credit report. However, it’s important to note that business cards from most banks, including Chase business cards, do not get added to your 5/24 count of recently opened cards. You can check your credit report for free at the federally authorized to check how many accounts are shows as being open in the past 24 months. Note that the Chase system automatically counts cards like authorized user cards and store cards as cards that count towards 5/24, but if you explain to Chase that those cards are merely authorized user cards or store cards they can manually approve you for a new card. If you’re like me and you run more than one business, you can signup for multiple of the same card for each business to manage each businesses expenses separately.Īll Chase cards appear to be subject to 5/24 restrictions, meaning that you are not likely to be approved if you have been approved for 5 or more consumer credit cards in the past 24 months. You can then send in bills in your own name for verification. Otherwise, it’s critical to just write your own name as the business name if you are just applying for your own small business as a Sole Proprietorship that doesn’t have any business paperwork. If you have business paperwork you can apply under your business name. Just be sure to select “Sole Proprietorship” as the business type and just use your social security number in the Tax Identification Number field. You don’t need to file any messy government paperwork to be allowed to do that. For example if your name is Joe Smith and you sell items online, or if you have any other side business and want a credit card to better keep track of business expenditures you can open a business credit card for “Joe Smith” as the business. This is a business card, but you may already have a business that needs a card to keep track of expenses. You can get the bonus as long as you don’t have an active Chase Southwest Performance Business Credit Card or have received a bonus on the Chase Southwest Performance Business Credit Card in the past 24 months. ![]() You can open and get the bonus on this card even if you have other Southwest consumer and business cards. There is a $199 annual fee, though the points and benefits are worth far more than that. Read about Southwest’s amazing companion pass in this section of the post.ĭon’t fly? You can also redeem points for gift cards! If you’ll redeem points for an average of 1.65 cents each the 100K signup bonus will be worth $1,650.īut it can actually be worth $3,300 as you will earn a companion pass after meeting the $25K spend threshold due to earning 125K points in a calendar year! You’ll be able to bring a free companion with you on all Southwest flights until the 12/31/21! That means you’ll earn at least 75K points for spending $5K in 3 months or 125K points for spending $25K in 6 months. Plus you will earn an additional 30,000 bonus Southwest points when you spend an additional $20,000 in 6 months. You can now earn 70,000 bonus Southwest points when you signup for the Chase Southwest Performance Business Credit Card and spend $5,000 in 3 months.
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