💼 I love the BBP!!! It's a shame they ruined the Business Gold. I used to use it for buying USPS shipping labels (I sell & ship about 100 items a week so that used to be 4% on $600ish weekly). That alone covered the old annual fee. Now it's just a shitty credit for like FedEx or something and a way higher AF. Cancelled as soon as I saw it announced. Probably going to switch to Chase because of that as you can get 3% back on shipping labels with the Ink Preferred, and the AF is only $95.
are there any downsides to cancelling business credit cards at all? (I know it doesn't impact personal credit scores, but wonder if there's anything else to watch out for)
It’s considered a bit more expected/common for businesses to open and cancel cards more often than individuals. That said, your business does have a credit profile just like your personal. So banks will see your history of opening and closing cards.
tyvm sebby.....my fave biz card is the ink biz preferred. i have 2 of them. we put about 25k each month in advertising. i would like to like the C1 Biz VX more, but it seems like a bit of a hybrid card between a personal and biz card, the way it still reports some things.
💼 I do my business setups a bit different. I do prefer cash back (currently BCP my favorite). I do have a question though, can you run though how personal and business credit is different? same pie chart as personal goes for business?
👜👛Sorry Sebby- that briefcase emoji isnt as cute at these🎒. PLUS :-( I didnt know you could go to pop up ⛓jail 🚨👮♀for business. I applied for Blue Business card last night and got pop up jail. I thought wtf? I have the schwab plat/green and gold. This would have been my first business card. ⛓👮♀🚨 But I did get the green w/50K SUB in April....maybe thats why
@@AskSebbyBusiness If you are in a high cost business like retail, you have a large outlay ..say $15K for a shipment of gear, which isnt really alot actually for products. It may take 60-90 to turn over the products, pay it and order more. But I can see if you are constantly stacking the card with purchases and arent paying often.
You don’t need a business card. Have plan from the beginning, but before have some money for emergencies . Stick to the plan for at least 2-3 years. Pay taxes and don’t go into debt. Keep saving for emergencies and you should be good if and only if you are green every month. Good luck
Currently the US Bank Altitude Business Connect is my favorite card until I hit the sign-up bonus 😂
💼 because you told me to lol. A few years ago I email you about credit cards and you suggested to get the ink buisness cash. Best card in my setup
My guess is that the knife is a Chris Reeves Small Inkosi with titanium and wood scales. Thanks for coming to my TED Talk
💼
I love the BBP!!!
It's a shame they ruined the Business Gold. I used to use it for buying USPS shipping labels (I sell & ship about 100 items a week so that used to be 4% on $600ish weekly). That alone covered the old annual fee. Now it's just a shitty credit for like FedEx or something and a way higher AF. Cancelled as soon as I saw it announced. Probably going to switch to Chase because of that as you can get 3% back on shipping labels with the Ink Preferred, and the AF is only $95.
Wyndham hotel business card is the most underrated.
Why is that? Sre these points transferable?
Thinking about the Plum Card for real estate 🤔
I like the plum just for the cute color🥰😍😘
@@JazzyMarineVet 😂
💼 Excellent way you explained it vs using personal credit Cards!
Amex Blue Business Cash
are there any downsides to cancelling business credit cards at all? (I know it doesn't impact personal credit scores, but wonder if there's anything else to watch out for)
It’s considered a bit more expected/common for businesses to open and cancel cards more often than individuals. That said, your business does have a credit profile just like your personal. So banks will see your history of opening and closing cards.
If Capital One business reports utilization, does it count against 5/24? 💼
Good thing Chase doesn’t report utilization. I’ve been putting the “no preset spending limit” feature to use lately. LOL!
I'll return later to watch in full squuuuuuuuuuad
tyvm sebby.....my fave biz card is the ink biz preferred. i have 2 of them. we put about 25k each month in advertising. i would like to like the C1 Biz VX more, but it seems like a bit of a hybrid card between a personal and biz card, the way it still reports some things.
We can have 2 IBP? Currently have one, and was wondering why Chase is still sending mailers peddling the IBP.
@@Love2Cruise since i have two, it would seem so. also got the sub on the second biz ink preferred, too.
Do you know if Line Of Credit counts toward 5/24, or only credit cards?
Only credit cards. Lines of credit code as installment loans. At least Amex’s does.
No, only credit cards.
💼 I do my business setups a bit different. I do prefer cash back (currently BCP my favorite). I do have a question though, can you run though how personal and business credit is different? same pie chart as personal goes for business?
Repost?
I don't think I've ever reposted anything. LOTS of similar ideas / videos though over 7 years. Especially since main channel has like 1,000+ videos.
@@AskSebbyBusiness Some people...
👜👛Sorry Sebby- that briefcase emoji isnt as cute at these🎒. PLUS :-( I didnt know you could go to pop up ⛓jail 🚨👮♀for business. I applied for Blue Business card last night and got pop up jail. I thought wtf? I have the schwab plat/green and gold. This would have been my first business card. ⛓👮♀🚨 But I did get the green w/50K SUB in April....maybe thats why
I don’t think so
💼
Utilization is such a weird thing. Here's a $30K limit, but if you use more than $3,000 your credit takes a hit.
I think the easiest parallel for me is alcohol. Here is a big bottle of whisky. Use a bit? Responsible! Finish off half the bottle? Red flag.
@@AskSebbyBusiness If you are in a high cost business like retail, you have a large outlay ..say $15K for a shipment of gear, which isnt really alot actually for products. It may take 60-90 to turn over the products, pay it and order more. But I can see if you are constantly stacking the card with purchases and arent paying often.
@@AskSebbyBusiness Good analogy, because 50% credit utilization you’ll need a half a bottle of whiskey to hide the pain 😂
Ink Cash Crew
You don’t need a business card. Have plan from the beginning, but before have some money for emergencies . Stick to the plan for at least 2-3 years. Pay taxes and don’t go into debt. Keep saving for emergencies and you should be good if and only if you are green every month. Good luck
In the black*
you do need business cards if you have a business
💼 heart please 🙏