MB131174 wrote:Honestly, as a sole proprietor myself, I highly recommend having a business credit card vs using a personal credit card. My personal AmEx (Blue Cash Everyday) is used only for personal purchases, and my business AmEx (Business Simply Cash) is used only for business expenses. The fact they both show up under the same online account is very convenient. I have my business checking linked for the business card obviously for payments. If nothing else, when tax time comes around you'll have a much better record of what were business expenses and what were personal expenses. My accountant doesn't need to know what I'm spending my personal funds on; but as far as my business spending, snoop away. Keeping personal and business expenses, and payment cards, separate is by far more beneficial.
Keeping your expenses separate not only helps make accounting easier come tax time (and, god forbid, is more transparent if you are ever audited), but a lot of business credit cards (especially the Amex ones) have additional benefits that even their consumer counterparts don't have.
And, possibly the goliath benefit of them all - the credit limits, and your credit utilization, doesn't report on your personal credit score. So even if you ran up some major start-up purchases in getting your business off the ground running, they won't show up on your personal FICO, so there's no risk of it lowering your score.
AMEX: PRG Gold, Business Simply Cash, Business Costco, BCE.
Chase: United MileagePlus Club, Sapphire Preferred, Amazon Rewards
Barclaycard Arrival World Mastercard
HSBC Cash or Fly World Mastercard
USAA World Mastercard, USAA Platinum Mastercard
Wells Fargo Business Platinum
USC Credit Union Mastercard