Originally Posted by
markcrobinson1955
GREAT Information.
Thank you.
The biz card seems like the way to go.
My business runs about 200k/mo through an Amex Gold card-- the first few 100k goes to the double and triple points programs.
I think I need to learn more about "opportunity cost."
The purpose of the miles is so I can travel internationally first class. I typically transfer the Amex miles to Asia Miles (1 to 1) and fly to Hong Kong on Cathay Pacific for 85k miles for business ($5,000) or 125k for first ($12,000). That's about $0.10 /mile.
Also JFK to Istanbul business on Turkish Airlines through Air Canada for 92k miles ($8,700) about $.09 /mile.
Is there a better way to do things?
Also, you said
" If you're chasing SUBs, the opportunity cost is probably closer to $40K."
Can you elaborate?
What's a SUB? What's AFAIK?
Thanks again for the response!
Hi Mark. No problem. SUB = sign-up bonus (the welcome offer you get from the card). AFAIK = As far as I know. Opportunity cost = what you could be earning from your card otherwise.
Would you like to roughly break down your general spending categories? For 200K monthly business spend, chasing SUBs is very difficult. I don't recommend it. However, there are definitely ways to optimize your business spend for the long-run. We have a business with credit card spend also in the 7 digits annually (though not as predictable on a month-to-month basis). Happy to discuss via private message, if you would like. There are many resources online for business owners here.