Making the Most of Visa Platinum
Use your platinum Visa business card to your business' advantage
A Visa platinum charge card can be a major lifeline, especially to new and small businesses that need the credit. It only works, however, for those who use it well. You can't rack up debt with the card that your business can't handle.Most platinum cards offer multiple rewards and bonuses for extensive use. Making the most of Visa platinum cards means taking every advantage of these rewards to benefit your business. This includes:
1. Knowing the business Visa card high limit rewards that fit your business needs
2. Tallying frequent flyer miles to use on business travel
3. Using a debit card if you prefer avoiding credit debt
Choose the rewards of your Visa platinum credit card that benefit your particular business need
When you apply for Visa platinum credit card for your business, look for a card that meets a particular need for your business. Perhaps you or your employees travel often and need auto, airline or hotel rewards to help save on travel expenses. Or, you want to motivate your employees with incentives using reward programs offered by a particular card, rather than pulling it directly from cash flow. Most cards provide similar bonuses, but Visa platinum credit card issuers can offer their own specials, depending on the financial institution that backs the card.
Try: The Chase Bank Flexible Rewards Platinum Visa starts at a 0 percent APR, and its point rewards include gift cards and cash like $25 for every 3,500 points. With a credit limit of up to $25,000, State Farm's Platinum Rewards Visa Card earns points on every purchase and includes travel accident insurance and free insurance on rental cars. Compare various Visa platinum cards and rewards at CreditCard321.com.
Build and use frequent flyer miles from your Visa platinum business credit card
If your business involves airline travel, choose a Visa platinum card that awards frequent flyer miles. Many cards allow you to rack up miles for many purchases. Using these cards not only leads to free business flights over time but other business travel rewards, too.
Try: Congressional Federal Credit Union offers a Visa Platinum With Rewards card that accumulates points for use on any airline-1 mile for each dollar. New York Life's platinum card, offered through Chase (formerly First USA) offers Flexible Rewards travel benefits of up to 8,000 miles a month and 60,000 miles a year. WorldPerks Visa Platinum includes a variety of reward benefits including 10,000 enrollment bonus miles, no limit on miles earned and award tickets with all the SkyTeam member airlines (including Delta and Northwest).
Choose a Visa platinum debit card over a credit card
A debit card may work better for small businesses with limited budgets. You'll be forced to exclusively use only the money you currently have instead of putting your business in debt. See if your financial institution provides such cards.
Try: The California-based USE Credit Union offers the Platinum Visa Xpress check card with their premier checking accounts, including purchase protection since the money comes straight from your business account. The United Federal Credit Union has branches across the Midwest and Great Plains. Its Platinum Plus card earns interest on accounts, offers many CardPerks like gift cards and travel discounts rewards and is backed by the Verified by Visa program. Review InfoMerchant's site which explains many of the advantages of the debit card over a credit card.
- Consider a Visa platinum account for multiple cardholders, especially if your business is a joint venture. Put your most important executives on the account to simplify your expense accounting.
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