Ask HN: Best Business Credit Card

https://news.ycombinator.com/item?id=1766327

by bcx • 16 years ago

12 11 16 years ago

news.ycombinator.com

Hi there, I am looking for a business credit card to put thousands of dollars of expenses on. I was wondering what card you guys recommend and why?

Right now I am considering CapitalOne NoHassle, but I've seen a lot of companies using various AmEx cards.

davidedicillo• 16 years ago

I like American Express especially for the customer services and some protection policies they have.

For example I remember when I bought the first iPhone for $600, after Apple reduced the price by $200 and refunded $100 with a gift card, Amex refunded (even if the iPhone wasn't covered by their policy) everyone by the $100 to make up for the difference.

smysore• 16 years ago

I second American Express -- awesome customer support.

tbriscoe• 16 years ago

Yep American Express - Plum card rocks!

brk2• 16 years ago

Are you looking for a credit card or a charge card? There are important differences, and its not clear from your question which you really mean.

Amex has credit cards, but they are mostly (IME) associated with charge card accounts.

bcx3• 16 years ago

What's the key difference between a charge card and a credit card?

bcx3• 16 years ago

http://en.wikipedia.org/wiki/Charge_card

"A charge card is a plastic card that provides an alternative payment to cash when making purchases in which the issuer and the cardholder enter into an agreement that the debt incurred on the charge account will be paid in full and by due date (usually every thirty days) or be subject to severe late fees and restrictions on card use"

brk2• 16 years ago

A charge card you pay in full each month. A credit card lets you spread payments over time.

So, you tend to optimize for different things (features, rebates, discounts vs. Interest rates and payback optiins (generally))

bcx3• 16 years ago

What are the advantages / disadvantages of credit card verses charge card?

brudgers• 16 years ago

A charge card must be paid off each month. The advantage is that it is not cash or a check and can be used online.

A credit card allows you to float debt, and therefore can improve cash flow at the expense of interest.

CyberFonic• 16 years ago

From my experience, I would describe the differences as:

Charge card: you pay an annual membership fee and then if you pay off the balance in full each month then there is nothing more to pay.

Credit card: you pay at least the minimum amount when the statement comes and you get charged interest on the balance. There may also be transaction fees for cash advances, etc.

Both the annual fee and the interest rates are highly variable so it pays to shop around. Personally, I think charge cards cost less in the long run.

Another option is a Debit Card, which uses funds in an account. There are some account charges. From a fraud resistance point of view, as long as you don't have much money in the linked account, the debit card poses the lowest financial risk, but can be a hassle to keep transferring money between accounts.

Ask HN: Best Business Credit Card

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