In social situations “it’s not personal, it’s just business” rarely signals a fortunate outcome. Fortunately, in practical situations netting you hundreds of thousands of points, it’s the best phrase that can possibly come to mind. You see, everyone runs a business whether they know it or not. Even if you’ve already applied for and received a sign up bonus for your favorite personal credit card, you can receive the business version of that or another card (and it’s often bigger bonus) just for being a living, breathing, eating human being.
There are big businesses and small businesses. If you don’t already have a business credit card, yours is likely a small or home business. Yes, running your home is a business and yes, treating it as such will open the door for double the bonus points. For years affluent families have created “sole proprietorship” businesses to channel their household expenses covering groceries, toiletries and handy work while simultaneously opening the door for personal cards AND business cards, even if it doesn’t feel like a business. In the US and similarly abroad, creating a “sole proprietorship” is as easy as registering for free online with the tax service, receiving an instant tax number and beginning to run your appropriate expenses through your newly formed mini company. These sole proprietorships constitute a business card and fortunately, your hard earned good personal credit will make the decision for approval, even though it’s now technically “business”.
In the United States the Delta American Express card currently comes with a 60,000 frequent flier point bonus and 15,000 “elite qualifying” miles after 2,000 in spending within three months. If I applied for the personal version of this card, was accepted, and then applied for the business version. I would come out with 30,000 elite qualifying miles which gives me Silver Medallion “elite status” with the airline without stepping on a plane. On top of that, just for spending money on every day needs and not spending an unnecessary dime out of pocket to meet the goal, I would end up with 125,000 Delta frequent flier miles. 125,000 miles happens to be the exact number needed for a round trip business class ticket from the US to Europe in any great partner like Virgin Atlantic, Air France, KLM, Alitalia and more.
I think we are very fortunate to live in a competitive world where one bonus can often take care of a one way ticket in style. Whatever cards you choose, adding the business element to “it’s not personal” enables you to turn a free one way into a round trip which would cost thousands out of pocket, just for living your life. Taking advantage could not be easier and also helps to create clarity in identifying what’s personal and what’s business, even if they end up being one in the same….
You should always speak to a certified financial planner about using personal and business accounts to your advantage and how best to apply them to your own daily life.
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