If you are a small business owner, chances are good that you will need a credit card at some point. As a small business owner, I use my business credit card for at least half my purchases, primarily because many of them are made online or where it is inconvenient to use a business check. Aside from the normal consumer protections credit card provide, many of them also offer a solid rewards program, which makes using them a good idea if you pay them in full each month.
If you have a small business with established credit and need a credit card, then take a look at the CitiBusiness ThankYou® Card, which is a new card from Citi. This card offers a standard rewards program based on Citi’s ThankYou® Points. It pays one ThankYou Point for standard purchases, and three ThankYou Points in rotating eligible business categories.
CitiBusiness ThankYou(SM) Card – Small Business Rewards
$150 Cash Bonus. For a limited time, new cardholders can earn a $150 cash bonus when they spend $3,000 within the first three months of card ownership. The bonus is paid in the form of 15,000 bonus ThankYou Points, which can be redeemed for gift cards, cash, or a statement credit.
Rewards program. The CitiBusiness ThankYou(SM) Card features an excellent rewards program. For example, you can earn 3 ThankYou® Points for every dollar spent on eligible purchases in rotating business categories. Here is the 2012 rewards schedule:
- January – March: Office supply merchants, advertising services and professional services
- April – June: Computer equipment merchants, software merchants and telecommunications merchants
- July – September: Airlines, hotels and car rental merchants
- October – December: Restaurants and entertainment
Unlike many other rotating rewards programs, you will automatically be enrolled, so you don’t have to worry about missing out on the additional rewards points (one of my other credit cards requires a quarterly enrollment, which can be a hassle to remember). See the application form for more details on the bonus rewards points.
Earn Additional Points for Loyalty. The CitiBusiness ThankYou(SM) Card has a unique feature not seen on many other cards – the Anniversary Bonus – which is a loyalty bonus that rewards you with additional ThankYou Points for each year you are a member, up to 3% of the amount you spend. The bonus is based on the following schedule:
- Membership Year 0-1: 1% anniversary bonus
- Membership Year 1-2: 2% anniversary bonus
- Membership Years 2 and after: 3% anniversary bonus
A couple notes about the Anniversary Bonus: Your membership year begins the date you open your card, and your bonus is calculated on the amount of money you spent during your membership year. The bonus is calculated on the amount spent, not the number of ThankYou Points you earned. So purchases in the bonus categories would only count for 1 ThankYou Point for your Anniversary Bonus. You should see your bonus within 1-3 billing statements at the end of your membership year.
No Points Limits. There are no limitations on the number of points you can earn, and your points never expire.
Redeem Points. You can redeem your ThankYou Points for cash, gift cards, business supplies, merchandise, travel, and other goods.
Add employee cards – and maintain control of spending. You can add employee cards at no cost and set spending and cash limits on the cards. And you also earn the ThankYou Points from purchases made on employee cards.
CitiBusiness ThankYou(SM) Card Highlights:
- Designed for businesses with an established credit history
- Earn 15,000 bonus ThankYou(R) points after you make $3000 in purchases within 3 months of cardmembership – enough for $150 in gift cards
- 0% intro APR on Purchases for 6 months. After that, 13.24% variable.
- Earn 3 ThankYou(R) points for every dollar you spend on eligible purchases in rotating business categories.
- Redeem points on things for your business or for yourself like business supplies, merchandise, gift cards, travel or even cash.
- No limit to the amount of points you can earn on purchases and points don’t expire.
- No annual fee*
Who will benefit from this card: This is a great business rewards credit card for small businesses with established credit and general expenses. It offers a good general rewards program across the board, with the bonus categories every quarter. The lack of an annual fee makes this card an even better deal.