Why business cards are an important part of traveling with points

And how you likely qualify even if you think you don't!

1. You probably qualify for business cards and don’t realize it.

What the banks/credit card lenders call a business and what you/the IRS may think of as a business are NOT the same thing. Full stop!

Why? Because there are regulations around how cards can be marketed and what the fine print can look like based on whether a card is personal or business. But their definition of what actually counts as a business is VERY BROAD!

2. Business cards can help you earn more points

The main reason I love business cards? Points. Points. Points! But also these things:

• Many have high bonuses and low fees. The best combo!

• Most business cards do not show up on your credit report. That means opening business cards won’t affect your credit long term. That’s a big deal!

• They don’t count against your 5/24 (the rule by a popular bank that says they won’t approve you for any cards if you’ve opened more than 5 personal cards in 24 months from any bank). That may sound like more cards than you want but they can add up fast (even if you are fairly conservative). And wait until you take a trip for free and then feel hooked! Don’t shoot yourself in the foot before you even get started.

• They increase the number of bonuses you can get. If you only open personal cards, you will max out on cards available to much more quickly AND miss out on valuable points in the meantime.

3. What makes you eligible for business cards?

• Selling things on Poshmark, Etsy, Facebook marketplace, Ebay, etc.

• Content creation/writing/blogging

• Having a Substack!

• Selling things on a ShopMy account or LTK (etc)

• Owning a rental property

• Consulting

• 1099 work

• Being a creative/musician/artist

• Freelancing

• Babysitting/dog sitting

• Uber/Lyft driving

• Handyman work

• Referring a credit card to a friend or family member (even just one!)

• Having an idea however broad for a business you may want to start someday (really).

The list is really long and broad and this list is not even finite!

Most people qualify for business cards. Like 99.9% of people!

4. Do I need an LLC or EIN to apply?

Nope!

You can apply as a Sole Proprietor with your name as your business name and use your social security number. If you come up with a clever name, your application will be denied. You just want to apply with your first and last name as your biz name if you are a Sole Proprietor!

5. Do I need to have business income to qualify?

Surprisingly, no! Many business don’t make any money for years and others make very little money. No one said your business has to be successful for it to be a business! Remember that!

6. Does having a business card affect my taxes?

Nope! Having a business card doesn’t change anything with your taxes. They are separate things.

7. Can I use the card for personal expenses?

The banks have no way to know (nor do they check) what is a personal or a business expense.

8. How to actually apply for a business card?

Here’s a quick FAQ on how to answer some common questions on card applications:

9. Is there such a thing as too many cards? Welcome bonuses make all the difference when you’re trying to accrue points. There are a lot of ways to stay organized (I will share some in another post soon!) so there is no reason to feel overwhelmed.

   Keep a spreadsheet with the card names, opening dates, annual fees and renewal dates and consider setting them all to the same due date (and set auto pays) to stay extra organized. Becoming comfortable with more cards, and seeing your credit score go UP will change the way your family travels. as it has mine!

10. Find the best offer!

Get a free Mini-Wallet Edit here to learn which card might be best for you. This is totally FREE! I’ll share my affiliate links for any cards I recommend so you’re able to support Brooklyn Family Travelers while earning points for yourself — at no cost to you!

Have questions? Need help figuring this card stuff out? Here for you!