PSA: Personalized CC

8 Replies

PSA: I recently found out that my credit union offers personalization of your debit and credit cards. It's a free service for the accounts you have at the bank/credit union. I have made each of my rental properties a photo card so I can quickly and easily remember what card goes to what property. 

OMG I want one with my company logo on it! Currently, all of my rentals are in the same bank account, so I used our local city's college mascot to help me remember it was my rental property card. 

Originally posted by @Ned Carey :
@Laura Johnson why would you have a card for each property?

If you have each property in a separate LLC as some people advocate for, then you would need to keep each properties expenses separate from one another.

Personally I keep everything together.  I couldn't imagine filing and renewing that many times with the state each year, or going to home depot and needing to check out 5 different times because i'm buying items for different properties.

@Cheree Hill I could also ask why do you have one LLC for each property. If you do, then what you suggest makes sense. However I think one LLC for each property is overkill and an expensive way to go. I figure each LLC costs about $1,000 to maintain. One thousand dollars out of the income for one property is a pretty big hit. Spreading that expense over 4 or 5+ properties is not so bad.

There is no need for separate bank account or credit cards to separate expenses on properties within one LLC. That is easily done with accounting software. That software can be as basic as an Excel spreadsheet.

I would like a card with my company logo though !

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