Best Cash Back Credit Cards for Landlords

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Best Cash Back Credit Cards for Landlords

Noelle Quinn
Member since 2020 · 1 post · 0 votes

Hi All,

I have been trying researching the best cash back credit cards to pay my property expenses instead of using my personal credit card and bank accounts. My brother and I share a couple of small investment properties (3 two family homes) that we spend about 50,000-100,000 per year on. Currently we set up recurring payments through our business bank accounts or I use my personal credit cards and just pay myself back through the business account. (Using my own credit card can get a little confusing to keep track of and I am sure I have lost some of my own money over the years.) However we would like to share a business credit card and try to earn cash back so we can put that toward appliances or other expenses that come up for the properties. 

The typical categories that cards seem to offer bonus points on would not be typical for us to spend on our business so I don't see any benefit in a card with categories. The types of bills we pay are as follows (I do understand only some except credit cards as a payment option): Home Insurance/Property Tax/Water/(Gas/Electric can pay with a credit card fee)/Appliances/Home Depot/Maintenance fees, plumbers, electricians etc....

I am finding that a lot of business credit cards offer rewards for more personal expenses like gas/groceries/travel/car rental insurance, again would not apply to our business and I want a separate card to keep my personal expenses separate from my business expenses. 

Has anyone found a good card for these type of business expenses?

Thanks in advance for any advice!

Noelle

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Wesley W.
Rental Property Investor · The Vampire State · Member since 2013 · 2k+ posts · 2k+ votes
4y

I use the "Citi Double Cash" Mastercard; it's a flat 2% for all purchases and I have used it for years.  (For what it's worth, I had a horrible experience for the brief time I had the Wells Fargo Active Cash card earlier this year.)

Another "pro tip" - Join the National Apartment Association.  They have an affiliate program with Lowe's that gives you a special "contract price", which in my experience averages around 12%.  There is no minimum purchase required.  The only catch is you can only make purchases online through "Lowe's for Pros" (but your discount is much more robust compared to the "regular" pros).  So, what I typically do is place an order online for pickup at the store.  I use this program and pay with my Double Cash on the website for stacking discounts.  They usually have my order ready within an hour or so, but I always try and plan ahead the previous day if I am able.  I place between 3 and 4 orders per week this way.  They send me an email saying it's ready, I waltz in to the customer service desk, and it is all picked and ready for me to take.  If it's smaller items, they put it in a locker in the vestibule that I can open with a bar code in the email.

This has saved me TONS of time and money over the last few years.  

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  • Greg M.
    Rental Property Investor · Los Angeles, CA · Member since 2017 · 2k+ posts · 5k+ votes
    4y

    Card 1: Generic card that gives you 1%-1.5% back on all purchases.

    Card 2: Lowes (maybe also HD) card that gives you 5% off the purchase price.

    And after vendors who take credit cards quote you a price, ask if they can do better if you pay by check. The savings can be much better than the card rewards.

    0Reply
  • Joel Case
    Rental Property Investor · Ocean Springs, MS · Member since 2022 · 349 posts · 301 votes
    4y

    Wells Fargo Active Cash has 2% back on all categories. Instead of trying to switch between cards with rotating categories I just use this as my go to. For Lowes/Home Depot I use a military discount which never stacks with the 5%. 

    0Reply
  • Garfield M.
    Chicago · Member since 2022 · 37 posts · 46 votes
    4y
    Quote from @Noelle Quinn:

    Hi All,

    I have been trying researching the best cash back credit cards to pay my property expenses instead of using my personal credit card and bank accounts. My brother and I share a couple of small investment properties (3 two family homes) that we spend about 50,000-100,000 per year on. Currently we set up recurring payments through our business bank accounts or I use my personal credit cards and just pay myself back through the business account. (Using my own credit card can get a little confusing to keep track of and I am sure I have lost some of my own money over the years.) However we would like to share a business credit card and try to earn cash back so we can put that toward appliances or other expenses that come up for the properties. 

    The typical categories that cards seem to offer bonus points on would not be typical for us to spend on our business so I don't see any benefit in a card with categories. The types of bills we pay are as follows (I do understand only some except credit cards as a payment option): Home Insurance/Property Tax/Water/(Gas/Electric can pay with a credit card fee)/Appliances/Home Depot/Maintenance fees, plumbers, electricians etc....

    I am finding that a lot of business credit cards offer rewards for more personal expenses like gas/groceries/travel/car rental insurance, again would not apply to our business and I want a separate card to keep my personal expenses separate from my business expenses. 

    Has anyone found a good card for these type of business expenses?

    Thanks in advance for any advice!

    Noelle


     I usually use this site when trying to find useful credit cards, you might be able to find something there that works for you

    https://www.doctorofcredit.com...

    0Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    4y

    Go to travelfreely.com and sign up for a free account. It's completely free. They have a simple training program that teaches you how to use rewards programs and maximize points. I signed up a few years ago, barely put any effort into it, yet I've purchased almost 20 flights for free and still have almost 700,000 points saved up. Once you get your account set up, they point you to the best reward cards and tell you how they will help you meet your goals.

    The DIY Landlord Book4.7243 Reviews
    WebsiteView Page
    0Reply
  • Wesley W.
    Rental Property Investor · The Vampire State · Member since 2013 · 2k+ posts · 2k+ votes
    4y

    I use the "Citi Double Cash" Mastercard; it's a flat 2% for all purchases and I have used it for years.  (For what it's worth, I had a horrible experience for the brief time I had the Wells Fargo Active Cash card earlier this year.)

    Another "pro tip" - Join the National Apartment Association.  They have an affiliate program with Lowe's that gives you a special "contract price", which in my experience averages around 12%.  There is no minimum purchase required.  The only catch is you can only make purchases online through "Lowe's for Pros" (but your discount is much more robust compared to the "regular" pros).  So, what I typically do is place an order online for pickup at the store.  I use this program and pay with my Double Cash on the website for stacking discounts.  They usually have my order ready within an hour or so, but I always try and plan ahead the previous day if I am able.  I place between 3 and 4 orders per week this way.  They send me an email saying it's ready, I waltz in to the customer service desk, and it is all picked and ready for me to take.  If it's smaller items, they put it in a locker in the vestibule that I can open with a bar code in the email.

    This has saved me TONS of time and money over the last few years.  

    1Reply
  • Jeff Costa
    Member since 2021 · 166 posts · 113 votes
    4y

    Upvote for the Wells Fargo Cash credit card. The 2% goes right back into your Wells checking account, and helps offset property expenses. Completely hands-off with no manual effort each month. 

    0Reply
  • Jason B.
    Wheaton, IL · Member since 2015 · 42 posts · 21 votes
    4y

    I'm going to throw a vote in for AOD credit union. 3% for all purchases, automatically applied to your statement balance every month. Takes a bit of work to start up, but worth it!

    0Reply
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