Using your business credit cards to earn rewards is a smart strategy. There are a number of ways you can maximize the number of rewards you can earn. Then, when it's time to redeem them, you can offset other business expenses.
One of the most important perks of using a business card is the rewards program where you can redeem your points for gift cards, air travel, hotels and merchandise. So how do you earn more rewards points from your business card and maximize rewards?
Here are some top-of-mind ways you can use your card to earn more rewards and other ways you may not have thought of ...
- Fill up your car. You use your car to drive to the office, so it makes sense to purchase gasoline with your credit card.
- Purchase break room supplies. Toilet paper, paper towels, fruit, plastic spoons and forks, napkins, coffee, creamer … It’s likely all in your break room and when you use your credit card to stock these office necessities, you accumulate valuable reward points.
- Register for conferences. There are a number of reasons for you and your staff to take advantage of educational opportunities and using your credit card ensures you also get reward points.
- Other travel expenses. Use your card when you're away on business for hotels, restaurants and other necessary expenses.
- Pay professional membership fees or practice bills. Don’t send in a paper check, use your credit card and reap the rewards.
- Buy office technologies such as a printer, iPad or computer. The need to keep current with technology increases each year. If you have to invest in one or two pieces of equipment, why not earn reward points too?
Now that we have established there are many places you can use your business card to make essential purchases for your business, think about how you can use the reward points to save money.
You may choose to redeem points earned for airfare to continuing education conferences. With the right reward platform that offers gift cards, you could purchase office supplies and technologies online or from places like Staples or other department stores.
Do you have small office updates in mind? Gift cards from Home Depot or Lowe's may be an option to complete a project. Is there an exceptional employee or office manager you've been meaning to reward? Maybe it's time to use those points earned for merchandise or a night out using a restaurant gift card.
Equally important to offsetting business expenses is being smart about what business reward card you select from the start. Pick a card that does not put caps on the number of rewards you can earn in a given month. Be leery of special "double or triple point" promotions. Even though these may seem to good to pass up, it really depends on other factors like how much you spend, the number of points required to redeem rewards, whether there is annual fees, etc.
If you're contemplating which reward card is best for your business, be sure to consider Professional Solutions Financial Services' MilesAway MasterCard. With no annual fee, no monthly point earning caps and one of the richest reward programs around, you'll be glad you did.
Whatever your business card, reward yourself and redeem your points. You've earned it!