Does anyone use the new age business cards for example from Bento[1] or Dash[2] (I have no affiliation)?
Ask HN: What credit card does your US startup use?
71–80 of 111 posts
Re: Ask HN: What credit card does your US startup use?
#72Earlier quoted context omitted.
Why? I can't stand that and can't fathom the purpose.
Uh, for the same reasons parent mentioned: if the guy owning the account leaves (or steps under a bus), you're screwed.
I have never seen that be an issue. Ever.
Add: It seems to me an extremely remote possibility and trivially resolved.
Re: Ask HN: What credit card does your US startup use?
#73Earlier quoted context omitted.
Uh, for the same reasons parent mentioned: if the guy owning the account leaves (or steps under a bus), you're screwed.
I have never seen that be an issue. Ever. Add: It seems to me an extremely remote possibility and trivially resolved.
Clearly others have. I guess you can consider yourself lucky. It's a matter of mitigating risk.
Re: Ask HN: What credit card does your US startup use?
#74My advice would be to make sure you have more than 1 card. There will be a fraudulent purchase at some point leading to a card re-issue. You don't want to be dead in the water for a few days while that happens!
Or just get a credit card through your local bank (or anything with a nearby physical branch). I've had corporate cards replaced and reprinted for me same-day.
Re: Ask HN: What credit card does your US startup use?
#75Not card advice but operational advice: From being at startups where people tend to move fast and often move on, tell your staff that they can use the services they need BUT you will only reimburse them for 3 months. After that, it must be on the corp card. I've seen too many times where AWS, Mailchimp, etc, etc are on someone's personal card and once they leave, everything blows up after a couple months. It's even w…
I would never use any service under an employee's personal card. If someone needs something, it takes 10 minutes get someone with a company card to save it as a payment method and add it to a google spreadsheet. This also ensures that we know exactly how much we are spending and on what.
In the past, I've worked at a company where each team managed their own expenses. This led to situations like one team using a certain transaction email provider, and another team using a different one, rather than saving thousands of dollars by going entirely with one or the other. Costs should be managed at a corporate level, not at the level of the individual employee who is tasked with setting up transactional emails.
Re: Ask HN: What credit card does your US startup use?
#76Earlier quoted context omitted.
Uh, for the same reasons parent mentioned: if the guy owning the account leaves (or steps under a bus), you're screwed.
I have never seen that be an issue. Ever. Add: It seems to me an extremely remote possibility and trivially resolved.
"I have never had a car accident, therefore it's fine for me to drive like a maniac."
Re: Ask HN: What credit card does your US startup use?
#77Earlier quoted context omitted.
this 2%. nerdwallet for help. I have yet to see anyone beat the 2% back other than bonus signons - but those are 1 time and on a 2-3 year horizon go with 2%. Fidelity has a 2% one as well that deposits cash into a fidelity investment account vs CapOne where you have to apply points to other transactions to utilize the full 2% back (and CapOne redemption only applies to certain Merchant Category Codes... FYI Timeshare…
The CapOne 2% business card is called Spark Cash and doesn't have the redemption restrictions that you're describing (I think you may be thinking of their Venture card or another personal travel card). The only two downsides to the Spark card (in comparison to the Fidelity cashback card or Citi double cash) are that applying for it likely dings you in all 3 major credit reports (as opposed to just one like most cards…
My startup has a spark card and being able to get the amazon gift cards as the 2% bonus was great, but unfortunately for some reason amazon gift cards are no longer available as one of the gift card options. Had to start getting home depot and target cards instead :/.
Re: Ask HN: What credit card does your US startup use?
#78American Express Plum card used to have one of the best bonuses for quick repayment. It originally was 2% with no cap, if you paid it within 10 days. Or you could pay your minimum and defer the payment a month with no penalty. I think it is 1.5% now, which is still pretty good considering there's no cap. I got it when I was doing a lot of affiliate marketing (no rebills, I swear), which is sort of like being a founde…
Capital One Spark Business Visa currently has 2% unlimited cash back and a $59 annual fee. When I signed up it was 1.5% cash back, no annual fee, and no minimum cash back rewards redemption amount.
+1 on Capital One Spark. 2% back on all transactions with no limit and $500 bonus when you spend $4,500 within first three months.
Re: Ask HN: What credit card does your US startup use?
#79Not card advice but operational advice: From being at startups where people tend to move fast and often move on, tell your staff that they can use the services they need BUT you will only reimburse them for 3 months. After that, it must be on the corp card. I've seen too many times where AWS, Mailchimp, etc, etc are on someone's personal card and once they leave, everything blows up after a couple months. It's even w…
Whoa, I think OP is talking about which corporate credit card to use.
Using a personal credit card of an employee sounds like an absolute nightmare. I know startups are strapped for cash, but damn.
Re: Ask HN: What credit card does your US startup use?
#80Just keep in mind when applying that you might have personal joint liability for your business card's balance. We have a Chase Ink Business Cash card that I applied for as a representative of our company and had to provide my SSN on the application. The card was approved no problem but looking at Chase's offerings enticed me to apply for the Sapphire card for myself. I got denied a Sapphire card despite a damn near perfect credit score and qualifying income. When I called in to dispute being denied arguing that my personal card shouldn't be impacted by a business card, this is how I learned that I was jointly liable for my business card payments as well. Chase auto-denied me due to "multiple consecutive applications" since they don't consider business and personal to be separate if the SSN used is the same.
Point is, make sure you read the fine print before you apply - joint liability may not be standard on all cards. Our bank issued us their business Visa with a very generous line and it is only connected to our business account with no joint personal liability.