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Ask HN: What credit card does your US startup use?

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Re: Ask HN: What credit card does your US startup use?

#41

Post by masukomi »

caseysoftware wrote: post #35
yeukhon wrote: post #15

Earlier quoted context omitted.

I would say save the hassles and just stick to the corps credit card. I experienced the AWS under a personal credit card issue, but AWS was quick to resolve the issue with us anyway. Though it is needless to say, also make sure you have a vendor email address to manage vendors. We have had vendor account signed up using work email but after the person left the company, we lose the account control and have to ping acc…

But if you make them stick to the corp card that means everyone has the # and you lose control and insight. That's dangerous at any stage but even worse when you're early stage and every dollar feels like $20. +1 to a vendors@ or similar email account.

so, you're arguing that it is acceptable to have the core services your company relies on be tied to a person who could quit or be fired at any time?!

Re: Ask HN: What credit card does your US startup use?

#42

Post by pickettd »

jenamety wrote: post #34
jliptzin wrote: post #32

Get a 2% cash back card. I think capital one has them. If you're running an ecommerce business for example with low margins but high spend (on google adwords or whatever), getting that 2% cash back really can be a huge boost to your profitability.

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) and also that it carries a $59 annual fee after the 1st year.

Re: Ask HN: What credit card does your US startup use?

#46

Post by caseysoftware »

masukomi wrote: post #41
caseysoftware wrote: post #35

Earlier quoted context omitted.

But if you make them stick to the corp card that means everyone has the # and you lose control and insight. That's dangerous at any stage but even worse when you're early stage and every dollar feels like $20. +1 to a vendors@ or similar email account.

so, you're arguing that it is acceptable to have the core services your company relies on be tied to a person who could quit or be fired at any time?!

Yes, obviously.

Re: Ask HN: What credit card does your US startup use?

#47

Post by LeifCarrotson »

yeukhon wrote: post #15
caseysoftware wrote: post #7

Not 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 say save the hassles and just stick to the corps credit card. I experienced the AWS under a personal credit card issue, but AWS was quick to resolve the issue with us anyway. Though it is needless to say, also make sure you have a vendor email address to manage vendors. We have had vendor account signed up using work email but after the person left the company, we lose the account control and have to ping acc…

Rather than a vendors@ email address for vendors, alias their old.employee@ address to someone else still with the company in a similar role (their replacement, if they have one).

That way you ​won't miss sales queries, service notifications, or other stuff they used their email for. Update the accounts as necessary and it slows to a trickle quickly.

Re: Ask HN: What credit card does your US startup use?

#48

Post by throwaway2016a »

I know a lot of companies where the executive puts the expenses on their own card and then files an expense report at the end of each week.

In fact, even as a non-executive I'd have no problem putting SaaS on my points earning personal card if I trusted that my expenses would be reimbursed in a timely manner.

I've gotten multiple free flights and hotel rooms this way.

I might get down voted a bit because people could argue that the company should reap the rewards from any points but I don't personally see an issue with it.

Re: Ask HN: What credit card does your US startup use?

#49

Post by sedachv »

strictnein wrote: post #29
sedachv wrote: post #24

Earlier quoted context omitted.

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.

Interesting. The Plum has a $199 fee after the first year. The one advantage for it would still be the ability to defer interest and payments for a month, but the Spark card may be a better option now, overall.

American Express SimplyCash Business Platinum has the standard one statement month-long interest deferral, 3% cash back on telecom bills and 3% cash back in a category you choose (shipping expenses, advertising, travel, some other ones I forget), no annual fee, and no minimum redemption amount. If you get both the SimplyCash card and the Spark card you can use each accordingly to maximize the cash back percentage, and get all the cash back accrued as statement credits every month. It is a small improvement to cash flow that adds up.
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