Part 2: Save Money with Business Credit Cards

Thursday, March 10 at 07:35 AM
Category: Business Banking

This is part two of a two-part series on saving money with business credit cards. Part one looked at why a business would want to use a business credit card and how credit cards can help a business manage its finances. Article courtesy of Visa Business.* 

Step Three: Take Advantage of Purchase Rewards

Rewards Points
Some business credit cards allow you to rack up points for items and services you buy every day. Earn points towards great rewards for all qualifying purchases you make with an eligible business credit card  big or small. You can redeem points to save even more money on business-related expenses!

Look through the list below and determine which types of rewards points would be most helpful for your small business:
  • Airline miles
  • Hotel stays
  • Car rentals
  • Appliances
  • Electronics
  • Office supplies
  • Dining 
  • Gift certificates
  • Cash back
Automatic Discounts
Additionally, certain credit cards can give you automatic benefits for purchases with partner merchants. For example, by enrolling your existing Visa Business card in Visa SavingsEdge,* your business can earn automatic discounts of up to 15 percent for goods and services you buy in-store (and online) from participating merchants. The savings appear as credits on your statements.

Visa SavingsEdge can help you save on the following purchases:
  • Electronics (e.g., and
  • Business appliances (e.g., Sears PartsDirect)
  • Hotel stays (e.g., LaQuinta Inns & Suites) 
  • Car rentals (e.g., Alamo and National Car Rental) 
  • Gas and travel (e.g., Chevron)
  • Security (e.g., ADT)
  • Data storage and hosting (e.g., and Hyper Office)
  • Business support (e.g., Standard Legal and HealthAdvocate)
  • Marketing services (e.g., iContact and Swiftpage)
  • Newspaper subscriptions (e.g., USA Today) 
  • Gifts (e.g., and Godiva)
Step Four: Calculate Your Savings

Now that you know the many ways a business credit card can help you run an efficient small business, it’s time to calculate how much you can save.
Once you have a list of specific business expenses from the past 6 months, you can use the average discount provided for each category to calculate how much you might have saved on each item with benefits from business credit cards. Keep in mind that the discount percentages are based on discount rates found on Visa SavingsEdge, and may vary depending on the card or program you choose to use for your business.
  • Travel: Average discount for travel expenses (airline, hotel, car rental, gas): 3 percent
  • Equipment: Average discount for equipment (office supplies, electronics, appliances): 2 percent
  • Business Services: Average discount for business services (data storage, tech support, credit reports): 10 percent
  • Perks: Average discount for client and employee perks (floral delivery, cruises, gift certificates): 8 percent
Comparing your expenses with and without the discount will show you how much you would save across every category.

Additionally, you can also use the Visa SavingsEdge calculator* to help you calculate your savings potential with a business credit card.
Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

Tags: Arvest Biz, Business Banking, Credit Cards
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