Best 2020 credit card for rental property business

[Stephen Jones]

Hi BP family, 

I was curious, what are the best credit card options for my rental property business? Any suggestions would be great. Thanks!

[Kyle J.]

Assuming you're not going to carry a balance and the interest rate doesn't matter, it's hard to beat the Citi Double Cash Card in terms of cash back rewards.  It pays you 2% cash back on all your purchases.   There are some cards (and I have them) that pay 5% cash back on rotating categories each quarter (but a lower percentage on other spending).  However, I've done the math and the 2% on ALL your purchases works out to be a better deal (at least for me).  Usually because you can't spend enough in the 5% categories (they're almost always capped), whereas the 2% cashback is not capped.

Also, since you specifically mentioned cards for your "business", you might consider the Chase Ink business cards. For example, the Chase Ink Business Unlimited card pays 1.5% cash back on all your purchases. It's not as high of a percentage back as the Citi card, but one benefit of the Chase card is that it's a business card and doesn't report on your personal credit report (so if you have a high balance for a month it won't count against your DTI ratio). Just something to consider.

As you can see, I prefer the cash back cards over ones that earn other types of "perks" (points, travel, etc).  I figure with cash I can buy whatever I want, but if you like points or travel or whatever, there may be other good cards out there too.