How to Leverage a Credit Card and Rack Up Massive Points | Ep. 45

Hey, Digital Family! My name is John D. Saunders and in today’s Digital Block I want to talk about how you can use your credit card to pay for items on your business to rack up points and travel for free. Let’s do this!

Hope all is well. I’m going to get right to it. Today I want to talk about how to leverage credit cards. I think they have a bad rap. A lot of people think you can rack up this credit card debt, end up paying interest forever, and can never pull yourself out of debt.

In reality, as a business owner, you can leverage credit cards to pay for items you’re already paying for, like your monthly fees for services and difference things related to your business to cover those expenses and be able to rack up points so you can travel and use those points for eating, restaurants, and other things.

Let’s go ahead and dive in. I’m going to do a presentation for you, show you my card, my system, and what I do to rack up points and travel the world for free.

Let’s talk about the misconceptions of credit cards first. One is high interest. Yes, a lot of credit cards have high interest. Some over them can be up to 24% APR, however, using the method of only spending what you have and paying that off immediately every month means you never really have to worry about that interest.

Next up, a lot of credit cards do not have bonuses. Yes, that’s true. However, in most cases a lot of these credit cards have great incentives like rewards, flights, and tons of other things. It really depends on your preference and we’ll go through that a little later as well.

Another one is forever in debt. If you have school loans, you probably are wary of using a credit card. You think you’re forever going to be in debt. You’ll never be able to pay it off.

But if you follow a strict method of only spending what you have and paying that off immediately, you’ll never have to think about it. Also, there is such a thing as good debt. Keep that in mind.

Lastly, burden on credit. This isn’t true. This is only true if you open a ton of cards. One factor in your credit is the lifetime longevity of a credit card. If you have a credit card for ten years and open another, that’s going to shorten that lifespan.

However, if you have five cards and are opening on every few years and stager that out properly you won’t have to worry about it effecting your credit much.

Next one is cancelling your credit card will help your credit. That’s not true. A lot of times if you have a credit card and don’t necessarily use it, get it down to zero and leave it open. It’s not going to hurt you in any way. As long as you keep up with your credit, you’ll be fine and good to go. Keep that in mind as we move through this.

Why should you use a credit card for your business expenses? I want you to think about a business credit card. You don’t want to use a personal credit card for your business expenses. You want to have a card strictly for your business.

The main reason being you can centralize all your spending. For us, we have a lot of services and different things we offer. We have hardware, software that we pay for every month. It makes it so much easier when we can use our credit card to centralize all that spending because now all of that is in one place.

Also, you can redeem massive points. I learned this from my mentor and boss. I was at a marketing agency in Ft. Lauderdale. I have an amazing boss. His name is Chris, and he was a proponent of using the card for a lot of business expenses, racking up points, and spending them on furnishing the office.

We have flat screens, new furniture. It was amazing. He used his points to pay for all of that because he was using the credit card to cover the cost and paying it off immediately every month to rack up those points a massive amount.

Also, you’re able to monitor employee card use. We have one employee with a card as well and he’s able to use that and we can see all the expenses that he’s tracking within one central account.

It makes it really easy to organize your expenses without having to think about it. Then, you have to think about welcome bonuses. With my card, I have the AmEx Gold Business card, you get 50,000 points just for spending $5,000 in the first three months. Boom! 50,000 points.

That can allocate to about $500 or $600 in cash. The card is free for the first year and then $195, I think, per year. Within that three months the card has already paid for itself.

Here is how I use my credit card. This is actually a look at mine. If you look here, here are some of the options that you can use your card to cover. Here is my points balance as of yesterday.

I did book a flight for my dad to come down for Thanksgiving, so I’m super stoked about that. We book about three or four flights a year using this account and we don’t have to pay for any. We’ve flown to California, New York, and abroad as well just using points.

It’s an amazing feeling when you can just login here, book a trip, and not have to pay anything for it.

I have the AmEx Gold and then the Platinum for my personal. I actually have those combined so I’m able to maximize my points even more. Both my personal and business spending all go into one point allocation.

That’s a little advanced tactic, but again, just to reiterate, this is how I rack up points and travel for free. Some of the bonuses with my card car I get 3x points. This is huge as a business owner.

There are a lot of cards that offer this as well like the Chase Ink and other options. Any U.S. purchases for advertising and select media like Facebook ads, Google AdWords, gas stations, shipping, computer hardware, software, cloud computing, all of that is wrapped up and you get 3x points. If you spend $1, you get three points.

That’s huge, especially as a business owner. You also get a $200 airline credit. That is actually for the Platinum card, but you can always move from the Gold to the Platinum and use that for checked bags, in-flight refreshments, and food.

As you can see, I still have a pretty big balance here, $165 for the rest of the year, and we’ll probably use that on our flights more so around Thanksgiving and Christmas.

You also get Global Entry and TSA Pre-Check. That’s also set in there, but also a $15 Uber credit. You get a ton of different bonuses with this card alone. Again, the Uber credit and the Global Entry are for Platinum, however, the 3x points are on the Business Gold card. That’s crucial for anyone trying to build up their points and organize their spending.

Here is a look at my process to rack up points. First, you want to calculate your monthly spending. Look at what you’re spending money on. Are you taking clients out? Using it for transportation? Merchandise? Business services? Organize that! Here is an example for a few weeks ago of some of our expenses.

Then use your credit card to pay everything. If you use your credit card for all that, you’re able to organize everything into one spot. You can login to AmEx and see all of your expenses in your account. Also, and I’m going to backtrack to one, remember to pay off the complete balance monthly.

The worst thing you can do is spend money that you don’t have. Only use your credit card for things you’re already going to pay for and pay that off every month, so you can get it back to zero and continue that cycle.

Number three, integrate with an accounting software. Whether QuickBooks, FreshBooks, Wave Accounting, you can combine your card or merge your card with that account. So anytime you make an expense or swipe that card, it’ll automatically push to your accounting software.

This is huge because it puts everything on autopilot. Again, you will have to go and adjust some of the categories, but otherwise all of your spending will drop in here and you don’t have to think about it. It’s all automatic.

Then review your spending and adjust accordingly. Make sure you’re always reviewing your accounting. I usually do mine at the end of the month. Only charge what you can afford.

Meaning if you have it in your debt account or business checking account to cover the cost of what you’re spending on the card, make sure you’re always under that. The worst thing you can do is be spending and spending, rack up credit card debt, and not be able to pay for it.

That’s when the interest and everything can eat you up and spit you out. Make sure you’re only charging what you can afford.

Lastly, here are some of my favorite business credit card options. One is the Chase Ink Business Preferred, an amazing card, awesome benefits. Also, the Business Platinum Card from American Express and the Business Gold Card from American Express are also.

I have the Gold for my business and the Platinum for personal. Again, you can merge those accounts and just get the points racking up. Last is the Southwest Rapid Rewards Premier Business credit card.

Again, a lot of these cards are affordable. They might be $99 to $200 per year, which is absolutely worth it if you use it right to leverage this and do a great job.

Thank you, thank you, thank you guys for checking out our content. As always, hit the like button, comment that you loved it, and hit that subscribe button. I will see you in the next video. Peace!

How to Analyze Your Online Competition for Free

Owning a Business is Hard Work.
Lets just be honest.  Brutally honest.

It’s a ton of late night’s, direct responsibility and difficult decisions.

However, the awards and opportunity are endless. Especially if you’re willing to work for it.

millennial-tech-1

I understand how entrepreneurs can’t dedicate a ton of time to certain aspects of their business.  So, we’re here to help.It’s easy to see, especially from a digital standpoint, what your competitors are doing. Now, you might not want to emulate them, but, you could be wondering how they’re performing in certain digital aspects like:

• Social Media Presence & Engagement

• Website Traffic Estimates

• Organic Keywords

• Overall Web Rankings


By uncovering these few items, you can get a solid grasp on the competition that’s performing better than you, and learn to utilize these tools to your advantage for future marketing endeavors.

With just a few FREE tools we’ve uncovered, you can setup a competitive report in a few minutes.   We know your time is limited.

Yes, it can be done over that morning coffee.

google-search

1. Find Your Big Competitors
The first thing you want to do is isolate your competition.  Choose 3-4 solid competitors as a benchmark of comparison.  Don’t be afraid to aim high.  Perform a Google Search for specific keywords related to your industry.  We’ll use the keyword “mens shaving subscriptions” as an example.

The three we highlighted above rank #1,2 & 3 in organic search out of about 2.2 million SERPs (Search Engine Result Pages).  This tells us that these competitors are powerhouses in the industry and receive tons of traffic daily.  So, you’re probably thinking: “As a small business owner, how can I even compete?”  Don’t worry.  When there’s a will, there’s a way to reverse engineer it.

SEM Rush

2. Collect Information About Your Competition’s Web Presence
Yeah, this is the fun part.  One very versatile tool is SEM Rush.  We’re going to uncover a plethora of information about your competition within seconds.  Keep in mind, this tool offers a free, limited version.  It will do just fine for a simple competitor audit, but for more in-depth analytical work, click the link above.  First, visit SEMRush.com.  This website provides competitive data for websites.

Once you type in your competitor URL, you’re taken to the Domain Overview.

Understand Competitors Estimated Traffic
• Find Out How Much They Spend on Adwords (PPC)
• Where Their Backlinks are Coming From
• Competitor Top Searched Keywords
• Competitor Top Paid Keywords
• Top 5 Competitors (Level of Competition)

3. Collect Info on Competitor Social Engagement
Now that you have a solid overview of your competition web presence and ad spend, it’s time to take it Social.  Using Facebook Insights we can collect information about your competitors in a simple, yet intuitive, dashboard.  As a Facebook Page owner, visit your Facebook Page.  Once there, hit INSIGHTS like below:

facebook-insights-posts-tab

Once on the overview page, scroll down to the bottom to the Pages to Watch area.  Facebook’s algorithm does a GREAT job at pulling in example competitors based on factors like similar engagement, services and targeted demographics.  This area  helps you compare the performance of your Page and posts with similar Pages on Facebook. Just click Add Pages to get started.

Once completed, take a look at the aggregated data provided by Facebook.

Here, you can see how you stack up against the competition.  For example, if their engagement was higher during the week, visit their Facebook Page, to see what messages and content they posted that leveraged their fanbase effectively.  Also, take a look at their post consistency and how their Total Page Likes stack up against yours.  By monitoring this data, especially those high level competitors that use Social to their advantage, you can start to understand and develop original content you know will perform well on social.

4. Leverage Your New Found Data Dominance
Now that you have a ton of useful data, it’s time to put it to use.

Download Our Quick Competitor Profile Doc HERE.  This will provide your team with a very useful stream of data to leverage for your company’s success.  This competitive analysis blueprint will help you maintain and improve your position by understanding and tactfully using your competition’s data.