Business / Company Reward Cards - Large Monthly Payments

[perthtraveller]

Hi all

I am needing some expert advice.

Situation is:

• Company structure
• 4 equal shareholders
• ~$100-200k per month spend primarily from one wholesaler (i.e. not a low earn supplier like government, utility, telco)

Looking for:

• Rewards credit card with uncapped points earn

Questions:

1. Are there reward cards that allow for the account to be under the company's name?
2. If so, what is the best earning uncapped card in the market?
3. Are there any cards that segment points so that each of the 4 shareholders can use their points however they choose to?
4. If there are no such cards and we decide that one person gets a personal credit card and puts through the company expenses on that card, are there any tax ramifications for the company?

The main goal is to benefit from the large wholesaler payment each month. Some of the questions above are nice things to have but not essential.

Any help would be much appreciated!

Cheers

 

[cove]

Are you paying company tax, fringe benefits tax and or payroll tax and which States do you operate in? How often do you pay your company BAS? Is it monthly or 3 monthly?
What credit cards does the wholesaler accept and at what charge?
Is there a big 4 bank that all the partners use?
Then where would each partner be thinking about travel destinations ? Inside Australia mostly or international mostly? What class of travel?
Have you read the US Air Dividend Miles threads?

 

[perthtraveller]

Are you paying company tax, fringe benefits tax and or payroll tax and which States do you operate in? How often do you pay your company BAS? Is it monthly or 3 monthly?
What credit cards does the wholesaler accept and at what charge?
Is there a big 4 bank that all the partners use?
Then where would each partner be thinking about travel destinations ? Inside Australia mostly or international mostly? What class of travel?
Have you read the US Air Dividend Miles threads?

Thanks cove - I sent you a private message but I am not sure whether it went through (can't see it in my sent items).

Here's a bit for information which should hopefully assist:
- Wholesaler accepts any card via BPay (only method accepted by the supplier)
- Monthly BAS
- Yes to company, FBT and payroll tax
- Current bank is Bendigo
- There is no common big 5 bank that all shareholders use but can be if necessary
- Solely WA operations and all shareholders in WA
- Not fussed whether gift cards or FF points; feel that gift cards are more user friendly but would be bonus if could do both, i.e. convert to FF points
- If FF points, would be used for holiday locations (don't fly for business) so probably US or Europe
- Probably economy class travel... but I know business is much better value and probably feasibly considering the large spend on the card

Again, essentially trying to extract benefits out of c. $100-150k per month single supplier expense which may increase to $200k.

Hopefully this helps!

Thanks again cove!

 

[AdMEL]

Thanks cove - I sent you a private message but I am not sure whether it went through (can't see it in my sent items).

Here's a bit for information which should hopefully assist:
- Wholesaler accepts any card via BPay (only method accepted by the supplier)
- Monthly BAS
- Yes to company, FBT and payroll tax
- Current bank is Bendigo
- There is no common big 5 bank that all shareholders use but can be if necessary
- Solely WA operations and all shareholders in WA
- Not fussed whether gift cards or FF points; feel that gift cards are more user friendly but would be bonus if could do both, i.e. convert to FF points
- If FF points, would be used for holiday locations (don't fly for business) so probably US or Europe
- Probably economy class travel... but I know business is much better value and probably feasibly considering the large spend on the card

Again, essentially trying to extract benefits out of c. $100-150k per month single supplier expense which may increase to $200k.

Hopefully this helps!

Thanks again cove!

As far as I understand, most credit cards do not credit reward points for BPay.

 

[cove]

If you cannot do BPay and earn points off your credit cards you could ask the wholesaler about using Visa or MasterCard as to what fee if any they would charge you.
If they say 1% or less I would get a Citi Select (non Qantas one) and run up 1.33 points net per dollar spent on personal cards.
Citi does not work for Tax Office.

 

[robd]

We currently have NAB QF MC Business account. The reward points are only 2pts per $3 but it works for ATO payments. The monthly card fee is $12.00 and each of the cards on the account has it's own limit. The boss gets to nominate who the points go to, so they can all go to him/herself or to each individual card holder on the account.

 

[cove]

Robd that MasterCard system sounds ok but I pay more to handle non ATO expenses on Citi Select which gets you 1.33 miles per dollar spent on to SQ for pointy end flights.
It is convenient to have it under one system but the trade off is the lower points earning rate.
We chose to keep each partner with separate personal cards and each of the partners has booked Suites flights with SQ on Saver. My son is going to Los Angeles from Singapore on SQ suites for 90k miles so that was less than $70,000 spent for a one way.
Citibank Select has the $120,000 income qualification barrier and a $700 annual fee so it is not for everyone.

 

[robd]

Robd that MasterCard system sounds ok but I pay more to handle non ATO expenses on Citi Select which gets you 1.33 miles per dollar spent on to SQ for pointy end flights.
It is convenient to have it under one system but the trade off is the lower points earning rate.
We chose to keep each partner with separate personal cards and each of the partners has booked Suites flights with SQ on Saver. My son is going to Los Angeles from Singapore on SQ suites for 90k miles so that was less than $70,000 spent for a one way.
Citibank Select has the $120,000 income qualification barrier and a $700 annual fee so it is not for everyone.

The NAB cards were the boss's choice. Actually, originally we had non reward cards that were $7.50 or something a month card fee, but I convinced him to pay the extra $5 per month (per cc) for the reward cards. Baby steps

 

[perthtraveller]

Thanks cove and robd.

Do we know of any reward credit card that provides points for BPAY?

With such a large single bill I think an issue will be getting the credit limit up quickly...

 

[robd]

Thanks cove and robd.

Do we know of any reward credit card that provides points for BPAY?

With such a large single bill I think an issue will be getting the credit limit up quickly...

Just break the bill into part payments. Pay - reload - pay etc.