LZ HMI
Newbie
- Joined
- Jul 26, 2011
- Posts
- 7
I would like to seek advice from any of you with experience of using credit cards in a business with several owners. I am one of 4 partners, and we operate our business as a Trust. We could easily put $500k through a credit card per year, and being a points-junkie I see an opportunity! I think all the partners would want to redeem for FF points, but each on a different programme. We would pay off the balance every month.
I have read widely and searched the forum, but most credit cards are aimed at individuals or businesses with one owner. I would ideally like something like a CitiBusiness Gold card with the name of our business on it, but Citibank have made clear that the card would need to be held by an individual. This means that reward points are accrued by the individual, and cannot therefore be shared amongst the partners as I would ideally like.
Amex have given me similar information. The Plat business charge card could be issued with supplementary card holders, but all points would accrue in the primary account holder's name, and as above this would have to be an individual person. Amex corporate cards would not be appropriate, either, I am told, but I am slightly unclear on the reason for this (?because it's a trust, and likely too expensive for us anyway, or is it that points still can't be pooled in this system?).
We are currently with NAB, and they have offered us a card with just our business name on it. Apparently we can send points (at only 0.66 per dollar spent) to any QFF account, and we could change the account periodically to share the points around. I am not interested in QF points myself ;-) and the card is not appropriate in other ways either, particularly its low credit limit.
I am sure there is a way to work around this, and I wonder if any of you have made this work, or know of similar situations? Are there corporate cards out there, perhaps not advertised so well, that would do the job? Our set-up is not uncommon, and I am surprised so far at how hard it is to find information.
I am thinking that each of the 4 partners/owners would need to take out a card, and that the business could take it in turns to use each of our cards to pay for expenses. This will require a bit of work by the office to check that all 4 cards are being used in equal turns, and it might risk annoying our suppliers by using different payment cards each time. At least, though, we would each be able to choose which card we would best suit us. I already hold citibusiness gold and amex plat personally (thanks AFF!) and am educating my partners....
Many thanks for any comments. If not the right place to post, please let me know.
Alastair.
Ex-lurker.
I have read widely and searched the forum, but most credit cards are aimed at individuals or businesses with one owner. I would ideally like something like a CitiBusiness Gold card with the name of our business on it, but Citibank have made clear that the card would need to be held by an individual. This means that reward points are accrued by the individual, and cannot therefore be shared amongst the partners as I would ideally like.
Amex have given me similar information. The Plat business charge card could be issued with supplementary card holders, but all points would accrue in the primary account holder's name, and as above this would have to be an individual person. Amex corporate cards would not be appropriate, either, I am told, but I am slightly unclear on the reason for this (?because it's a trust, and likely too expensive for us anyway, or is it that points still can't be pooled in this system?).
We are currently with NAB, and they have offered us a card with just our business name on it. Apparently we can send points (at only 0.66 per dollar spent) to any QFF account, and we could change the account periodically to share the points around. I am not interested in QF points myself ;-) and the card is not appropriate in other ways either, particularly its low credit limit.
I am sure there is a way to work around this, and I wonder if any of you have made this work, or know of similar situations? Are there corporate cards out there, perhaps not advertised so well, that would do the job? Our set-up is not uncommon, and I am surprised so far at how hard it is to find information.
I am thinking that each of the 4 partners/owners would need to take out a card, and that the business could take it in turns to use each of our cards to pay for expenses. This will require a bit of work by the office to check that all 4 cards are being used in equal turns, and it might risk annoying our suppliers by using different payment cards each time. At least, though, we would each be able to choose which card we would best suit us. I already hold citibusiness gold and amex plat personally (thanks AFF!) and am educating my partners....
Many thanks for any comments. If not the right place to post, please let me know.
Alastair.
Ex-lurker.
