Best Credit Card for STR's?

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Best Credit Card for STR's?

John Crimmins
Investor · Richmond, VA · Member since 2012 · 59 posts · 40 votes

Hey all, wondering what the best business or personal credit card would be for STR. I saw Lowe's gives 3% cash back on their purchases, I already have an Amazon card with 5% back on amazon stuff, wondering if there's anything out there that makes the most sense for STR's.

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Andrew SteffensBusiness Member
Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
3y
Quote from @Nathan Gesner:
Quote from @Andrew Steffens:

Do you have an extra zero in there? 430,000 points is normally worth $4,300.

 No I used 430,000 points ($4,300 value if valued at 1c a piece) to secure a $70,000 trip

[email protected]813-563-0877
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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    3y
    Quote from @John Crimmins:

    Hey all, wondering what the best business or personal credit card would be for STR. I saw Lowe's gives 3% cash back on their purchases, I already have an Amazon card with 5% back on amazon stuff, wondering if there's anything out there that makes the most sense for STR's.


     I use my Home Depot card a lot and they have their own perks.

    I use a Capital One Spark business card that pays 2% back on everything.

    I need that Amazon card!

    0Reply
  • Leslie Anne Morris
    Real Estate Agent · Smoky Mountains, TN · Member since 2022 · 1k+ posts · 984 votes
    3y

    I use Amazon for Amazon, Barclays Travel for personal portfolio and US Bank Cash Rewards for my property management. 

    1Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    3y

    Tell me about the Barclays Travel. I'm buying 5 tickets to Hawaii in May.

    1Reply
  • Nicole Heasley Beitenman
    Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
    3y
    Quote from @John Underwood:
    Quote from @John Crimmins:

    Hey all, wondering what the best business or personal credit card would be for STR. I saw Lowe's gives 3% cash back on their purchases, I already have an Amazon card with 5% back on amazon stuff, wondering if there's anything out there that makes the most sense for STR's.


     I use my Home Depot card a lot and they have their own perks.

    I use a Capital One Spark business card that pays 2% back on everything.

    I need that Amazon card!

    Citi Double Cash also gives 2% on all purchases!
    0Reply
  • Andrew SteffensBusiness Member
    Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
    3y
    Quote from @John Crimmins:

    Hey all, wondering what the best business or personal credit card would be for STR. I saw Lowe's gives 3% cash back on their purchases, I already have an Amazon card with 5% back on amazon stuff, wondering if there's anything out there that makes the most sense for STR's.


     I just returned from a trip that went from Orlando - Chicago - Vienna (First Class on Austrian) - Dubai - Orlando (First Class on Emirates).  All flights and stays at Hilton in each city covered by points minus taxes and fees of about $1,700 total.  $70,000 trip if paid in cash, 430,000 points burned.  I use American Express Business Platinum and spend around $1M a year on it.  If I were receiving 2% cash back I would have gotten about $20,000 back, but I spent less than half my points and received $70,000 in value.  If you like to travel, Amex, Chase, Cap 1 have great programs (in that order in my opinion).  If you want the cash back then get a cash back card, I think Spark is good at 2%.

    [email protected]813-563-0877
    Vacation Rentals of Florida53 Reviews
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  • Joel Case
    Rental Property Investor · Ocean Springs, MS · Member since 2022 · 349 posts · 301 votes
    3y

    Wells Fargo Active Cash does 2% cash back on everything as well, It's what I use daily. 

    0Reply
  • Moises Diaz
    Member since 2020 · 12 posts · 2 votes
    3y

    Chase Sapphire Reserve. They start you off with 60K points for travel or you cash redeem it for cash for $750. 3 points for every $ spent on food, or travel. 

    They give you $300 travel credit per year, roadside assistance, it is awesome since I travel a lot to check on all my STR's.

    1Reply
  • Ryan MoyerBusiness Member
    Property Manager · Orlando Kissimmee Davenport Salt Lake City, Park City · Member since 2019 · 996 posts · 1k+ votes
    3y

    Amex Blue Business Preferred is 2 MR points per dollar spent on everything, and Amex MR points are among the most valuable out there for redemption, so you're really getting 3-4% back on every purchase.

    I was using that but recently switched to a cash back debit card so the money leaves my bank account more in line with the time I spend it, rather than a month later, which makes bookkeeping much easier.

    Cosmic Vacations4.9174 Reviews
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  • Shawn McCormickPro Member
    Realtor · Central Florida-Orlando · Member since 2014 · 1k+ posts · 892 votes
    3y

    If your local REIA is part of the National, you get Home Depot rebates when you spend $2,000+/year. But that really only works if you are rehabbing properties regularly. Lowes has good perks ($20 delivery fee for anything, veterans discounts etc)

    Check out the Points Guy website, they review and recommend what is right based on your usage and desired rewards and the risks (points expiring, blackouts etc). You can sign up for alerts and travel perks too. 

    1Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y
    Quote from @Andrew Steffens:

    Do you have an extra zero in there? 430,000 points is normally worth $4,300.
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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y
    Quote from @John Crimmins:

    Hey all, wondering what the best business or personal credit card would be for STR. I saw Lowe's gives 3% cash back on their purchases, I already have an Amazon card with 5% back on amazon stuff, wondering if there's anything out there that makes the most sense for STR's.


    Look up the website for travelfreely.com and join. 100% free. They have an easy training program that teaches you how to maximize points and earn free travel or other rewards. I've purchased almost 30 tickets in the last four years, all with points, and I still have around 500,000 points remaining.

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  • Kerry Noble JrPro Member
    Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
    3y

    ...check the cards that have rotating 5% categories like discover and chase freedom etc....

    1Reply
  • Andrew SteffensBusiness Member
    Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
    3y
    Quote from @Nathan Gesner:
    Quote from @Andrew Steffens:

    Do you have an extra zero in there? 430,000 points is normally worth $4,300.

     No I used 430,000 points ($4,300 value if valued at 1c a piece) to secure a $70,000 trip

    [email protected]813-563-0877
    Vacation Rentals of Florida53 Reviews
    WebsiteView Page
    3Reply
  • John Crimmins
    OP
    Investor · Richmond, VA · Member since 2012 · 59 posts · 40 votes
    3y

    A lot of goodies in here. Summarizing for others new to the thread. Thanks for everyone's replies!

    Top contenders:
    Amex Blue Business Preferred - 2pts/1 dollar on everything, roughly 3-4% back on every purchase. Good for travel it sounds like?
    Sapphire Reserve - great for travel

    Citi Double Cash - 2% back on everything

    Amazon - 5% back at Amazon

    Home Depot - 3% back at Home Depot 

    Barclays Travel - personal portfolio

    US Bank Cash Rewards - property mgmt

    Capital One Spark business  - 2% back on everything

    4Reply
  • Easton Hill
    Phoenix Arizona · Member since 2017 · 65 posts · 70 votes
    3y

    @John Crimmins

    I recommend you get a business card. Business cards often have lower APR (12-15%) and come with awesome incentives for a business like 12 months at 0%

    I personally use the Chase Business Ink Card, American Express Blue, and Capital One Spark. 

    They all have interest-free periods that I've used to fund furnishing and other start-up costs when launching a STR.

    3Reply
  • Ryan MoyerBusiness Member
    Property Manager · Orlando Kissimmee Davenport Salt Lake City, Park City · Member since 2019 · 996 posts · 1k+ votes
    3y
    Quote from @Nathan Gesner:
    Quote from @Andrew Steffens:

    Do you have an extra zero in there? 430,000 points is normally worth $4,300.

     That's exactly his and my point regarding points vs. cash.  Points are often much more valuable than cash back, and can often be redeemed at much higher valuations than 1c per point like you get with cash back.

    The highest value redemptions are usually on international trips.  International first class flights in particular.  It does require some shopping around and some luck, but you can find redemptions like Andrew was alluding to.  It's not nearly as simple as clicking a button and getting your money, and it requires some legwork find the best transfer partners, most valuable flights, etc.  But as Andrew showed, it can be worth the extra hassle.

    This was 10 or so years ago, but I remember redeeming 100k points for 2 round trip first class tickets to Europe that would have been about $17,000 to buy the tickets outright.  100k points is only worth $1,000 in cash.  So those points were redeemed at 17c per point.

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  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
    3y

    Home Depot

    [email protected]248-209-6824
    Logical Property Management4.9469 Reviews
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  • John Crimmins
    OP
    Investor · Richmond, VA · Member since 2012 · 59 posts · 40 votes
    3y
    Quote from @Easton Hill:

    @John Crimmins

    I recommend you get a business card. Business cards often have lower APR (12-15%) and come with awesome incentives for a business like 12 months at 0%

    I personally use the Chase Business Ink Card, American Express Blue, and Capital One Spark. 

    They all have interest-free periods that I've used to fund furnishing and other start-up costs when launching a STR.


     Yeah I use the ink as well, used to run an ad agency and the 3% back on adspend is amazing. AmEx Blue is next to research, sounds promising. 

    1Reply
  • John Crimmins
    OP
    Investor · Richmond, VA · Member since 2012 · 59 posts · 40 votes
    3y
    Quote from @Ryan Moyer:
    Quote from @Nathan Gesner:
    Quote from @Andrew Steffens:

    Do you have an extra zero in there? 430,000 points is normally worth $4,300.

     That's exactly his and my point regarding points vs. cash.  Points are often much more valuable than cash back, and can often be redeemed at much higher valuations than 1c per point like you get with cash back.

    The highest value redemptions are usually on international trips.  International first class flights in particular.  It does require some shopping around and some luck, but you can find redemptions like Andrew was alluding to.  It's not nearly as simple as clicking a button and getting your money, and it requires some legwork find the best transfer partners, most valuable flights, etc.  But as Andrew showed, it can be worth the extra hassle.

    This was 10 or so years ago, but I remember redeeming 100k points for 2 round trip first class tickets to Europe that would have been about $17,000 to buy the tickets outright.  100k points is only worth $1,000 in cash.  So those points were redeemed at 17c per point.


     This is actually amazing. I thought I was doing well getting 50% bonus with Chase Sapphire / Biz Ink... ha! Time to go AmEx. 

    1Reply
  • Pretty Khare
    Investor · Austin, TX · Member since 2021 · 83 posts · 80 votes
    3y
    Quote from @Ryan Moyer:
    Quote from @Nathan Gesner:
    Quote from @Andrew Steffens:

    Do you have an extra zero in there? 430,000 points is normally worth $4,300.

     That's exactly his and my point regarding points vs. cash.  Points are often much more valuable than cash back, and can often be redeemed at much higher valuations than 1c per point like you get with cash back.

    The highest value redemptions are usually on international trips.  International first class flights in particular.  It does require some shopping around and some luck, but you can find redemptions like Andrew was alluding to.  It's not nearly as simple as clicking a button and getting your money, and it requires some legwork find the best transfer partners, most valuable flights, etc.  But as Andrew showed, it can be worth the extra hassle.

    This was 10 or so years ago, but I remember redeeming 100k points for 2 round trip first class tickets to Europe that would have been about $17,000 to buy the tickets outright.  100k points is only worth $1,000 in cash.  So those points were redeemed at 17c per point.

    I have been at the points and miles game for 10 years now. What often does not go into these return calculations is the amount of time you spend trying to look for the right mileage ticket to book to give you that insane return on miles. In the last couple of years, most of the airlines and hotels have devalued their loyalty programs, making such insane award redemptions even more difficult. I would not peg the value of any miles you earn to be more than two cents per mile. I think the points guy valuation of miles is pretty accurate. Do check it out. If you have the tenacity and the discipline to use credit properly, I would suggest putting your spend on a few different cards to get all their new customer bonuses.

    1Reply
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