Should I open a credit card for my new multi-family business?

[Harry Williams]

I am just starting out with a partner, and we plan to purchase a ~20 unit apartment building. We have a business checking account set up with checks and debit cards, but do not currently have much monthly expense outside of email provider and legal fees (one-time fee). I am hesitant to open a credit card as there is an annual membership fee. 

At what point do those with experience recommend opening a business credit card in addition to checks and debit cards?

[Paul Choi]

We open credit cards for our Mf properties (15+ units).  May not use it much but can accrue great signup points for business travel.  And build up more point if used for expenses such as rehab etc. But of course paid in full every month.

[Harry Williams]

Thanks @Paul Choi. Do you have a card of recommendation? Also, in your case, how are points used with partners etc?

[Paul Choi]

Originally posted by @Harry Williams:

Thanks @Paul Choi. Do you have a card of recommendation? Also, in your case, how are points used with partners etc?

 We have business checking accounts with Chase so we went with Chase Ink business credit card.  I think sign up bonus point was around 60k if you spend a certain amount within a few months.  

We have not used any points yet but we're pretty open - any business related expense like flights to other markets to view properties, etc, we can use points or just charge as a business expense.  Any of us can use as needed.