Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Personal Finance
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago, 05/12/2022

User Stats

4
Posts
2
Votes
Adam Beaumont
2
Votes |
4
Posts

Separate business credit card and personal credit card?

Adam Beaumont
Posted

I only have one rental property, and I use my personal credit card to purchase whatever I need for the property.  Any thoughts on exclusively using separate credit cards for business and personal expenses?  My main concern is the headache of separating the charges come tax season.  I rarely use my credit card for either business or personal expenses, however.  But nonetheless, should I have two separate cards?

User Stats

332
Posts
248
Votes
Logan McKay Zylstra
  • Realtor
  • Salt Lake City, UT
248
Votes |
332
Posts
Logan McKay Zylstra
  • Realtor
  • Salt Lake City, UT
Replied

I do and would, it makes it easier in the long run. Especially as you accumulate more properties.

User Stats

11,460
Posts
13,217
Votes
Bruce Woodruff
Pro Member
#5 All Forums Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
13,217
Votes |
11,460
Posts
Bruce Woodruff
Pro Member
#5 All Forums Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
Replied

Definitely separate them...you'll have a nightmare come tax time! I used to have two cards for the business - one to get cash rewards and one for miles....just make sure to pay them off every month.

BiggerPockets logo
Join Our Private Community for Passive Investors
|
BiggerPockets
Get first-hand insights and real sponsor reviews from other investors

User Stats

2,932
Posts
3,029
Votes
Corby Goade
Property Manager
Agent
  • Investor
  • Boise, ID
3,029
Votes |
2,932
Posts
Corby Goade
Property Manager
Agent
  • Investor
  • Boise, ID
Replied

There are a lot of moving parts here to consider, you've only scratched the surface. Assuming with one property, your income from the rental passes through to you personally- in that case, there is no danger of comingling and it won't affect your taxes at all. 

Now- the second part is liability. If you are trying to separate your personal assets from your business- and within reason, you should, then comingling funds like this is a no-no. There's more to it than just that, but it's a start.

  • Corby Goade