The Ultimate Comparison of Credit Cards for Fix and Flip Real Estate Investors
Are you a real estate investor looking for a credit card to fund your fix and flip projects? With so many credit cards available, it can be challenging to find the right one to meet your specific needs. But don’t worry, we’ve got you covered.
In this article, we will provide you with the ultimate comparison of credit cards for fix and flip real estate investors. We have analyzed the features and benefits of the top credit cards in the market to help you make an informed decision.
By the end of this article, you will have a better understanding of the credit cards available for fix and flip real estate investors and the features that matter most. So, let’s get started and find the perfect credit card to help fund your real estate investments.
Credit Cards for Fix and Flip Real Estate Investors
There are many credit cards available that can be used to finance fix and flip projects. However, we have identified the top three options based on their rewards programs, introductory offers, annual fees, APR, credit limits, and other benefits.
Chase Ink Business Cash Credit Card
The Chase Ink Business Cash Credit Card is an excellent option for fix and flip real estate investors who want to earn cashback on their purchases. This card offers 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year. It also provides 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, and 1% cash back on all other purchases.
In addition to its cashback rewards program, the Chase Ink Business Cash Credit Card has a 0% introductory APR for the first 12 months. After that, the APR ranges from 13.24% – 19.24%, depending on your creditworthiness. There is no annual fee, and the credit limit ranges from $3,000 to $50,000.
Other benefits of the Chase Ink Business Cash Credit Card include fraud protection, purchase protection, extended warranty protection, and an auto rental collision damage waiver.
American Express Blue Business Plus Credit Card
The American Express Blue Business Plus Credit Card is a great choice for fix and flip investors who want to earn rewards points on their purchases. This card offers 2x Membership Rewards points on the first $50,000 spent each year, and 1x points thereafter. There is no annual fee, and the card has a 0% introductory APR for 12 months.
The APR ranges from 13.24% – 19.24%, depending on your creditworthiness, after the introductory period ends. The credit limit ranges from $5,000 to $50,000.
Other benefits of the American Express Blue Business Plus Credit Card include purchase protection, extended warranty protection, car rental loss and damage insurance, and travel accident insurance.
Capital One Spark Cash for Business Credit Card
The Capital One Spark Cash for Business Credit Card is an excellent option for fix and flip investors who want a simple cashback rewards program. This card offers a flat 2% cash back on all purchases, with no limit on rewards. It also has a $0 annual fee for the first year, and $95 thereafter. Additionally, there is a $500 cash bonus when you spend $4,500 in the first 3 months of opening the account.
The APR ranges from 17.24% – 25.24%, depending on your creditworthiness. The credit limit ranges from $2,000 to $50,000.
Other benefits of the Capital One Spark Cash for Business Credit Card include travel and emergency assistance services, extended warranty protection, purchase protection, and an auto rental collision damage waiver.
Features Evaluated
When evaluating credit cards for fix and flip real estate investors, several factors should be considered. Here are the features we analyzed:
Rewards
Rewards programs are a critical factor when choosing a credit card. The Chase Ink Business Cash Credit Card and the Capital One Spark Cash for Business Credit Card both offer cashback rewards programs, while the American Express Blue Business Plus Credit Card provides rewards points.
Introductory Offers
Introductory offers can provide significant savings in the first few months of using a credit card. The Chase Ink Business Cash Credit Card and the American Express Blue Business Plus Credit Card both offer 0% introductory APRs for a limited time, while the Capital One Spark Cash for Business Credit Card offers a $500 cash bonus for meeting spending requirements in the first few months of opening the account.
Annual Fees
Annual fees can add up over time and eat into your rewards or savings. The Chase Ink Business Cash Credit Card and the American Express Blue Business Plus Credit Card both have no annual fee, while the Capital One Spark Cash for Business Credit Card has a $0 fee for the first year, and $95 thereafter.
APR
APR, or annual percentage rate, is the interest rate charged on your credit card balance. The APR can vary depending on your creditworthiness and the credit card you choose. The Chase Ink Business Cash Credit Card and the American Express Blue Business Plus Credit Card both offer competitive APRs, while the Capital One Spark Cash for Business Credit Card has a higher APR range.
Credit Limit
Credit limits can determine how much you can borrow with your credit card. The credit limits for the three cards we reviewed range from $2,000 to $50,000. Your credit limit may vary depending on your creditworthiness and other factors.
Other Benefits
Other benefits, such as fraud protection, purchase protection, extended warranty protection, and car rental insurance, can provide added value to your credit card. Each of the three cards we reviewed offers a range of benefits, so consider which ones are most important to you.
Side-by-Side Comparison
Here is a side-by-side comparison of the three credit cards for fix and flip real estate investors:
| Card Name | Rewards | Introductory Offers | Annual Fees | APR | Credit Limit | Other Benefits |
|---|---|---|---|---|---|---|
| Chase Ink Business Cash Credit Card | 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year, 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, and 1% cash back on all other purchases | 0% introductory APR for the first 12 months, then a variable APR of 13.24% – 19.24% | $0 | 13.24% – 19.24% | $3,000 – $50,000 | Fraud protection, purchase protection, extended warranty protection, auto rental collision damage waiver |
| American Express Blue Business Plus Credit Card | 2x Membership Rewards points on the first $50,000 spent each year, and 1x points thereafter | 0% introductory APR for the first 12 months, then a variable APR of 13.24% – 19.24% | $0 | 13.24% – 19.24% | $5,000 – $50,000 | Purchase protection, extended warranty protection, car rental loss and damage insurance, travel accident insurance |
| Capital One Spark Cash for Business Credit Card | A flat 2% cash back on all purchases | $500 cash bonus when you spend $4,500 in the first 3 months of opening the account | $0 for the first year, then $95 | 17.24% – 25.24% variable APR | $2,000 – $50,000 | Travel and emergency assistance services, extended warranty protection, purchase protection, auto rental collision damage waiver |
Examples
Let’s take a look at how fix and flip real estate investors can use credit cards to maximize their rewards and savings.
Using the Chase Ink Business Cash Credit Card
Suppose you are a fix and flip real estate investor who spends $10,000 a year on office supplies and internet, cable, and phone services. With the Chase Ink Business Cash Credit Card, you would earn $500 in cash back rewards for those purchases alone. Additionally, if you spend $10,000 a year on gas and restaurants, you would earn another $200 in cash back rewards.
Over the course of a year, you could potentially earn $700 in cash back rewards, which can be used to reinvest in your fix and flip projects or to cover other expenses.
Using the American Express Blue Business Plus Credit Card
Suppose you are a fix and flip real estate investor who spends $25,000 a year on business expenses. With the American Express Blue Business Plus Credit Card, you would earn 50,000 Membership Rewards points for those purchases, which can be redeemed for travel, merchandise, or other rewards.
In addition to the rewards points, the American Express Blue Business Plus Credit Card offers purchase protection, extended warranty protection, car rental loss and damage insurance, and travel accident insurance. These benefits can help you save money and protect your investments.
Using the Capital One Spark Cash for Business Credit Card
Suppose you are a fix and flip real estate investor who spends $50,000 a year on business expenses. With the Capital One Spark Cash for Business Credit Card, you would earn $1,000 in cash back rewards for those purchases. Additionally, if you spend $4,500 in the first 3 months of opening the account, you would earn a $500 cash bonus.
Over the course of a year, you could potentially earn $1,500 in cash back rewards and bonuses, which can be used to fund your fix and flip projects or cover other expenses.
Final Thoughts
Choosing the right credit card can provide significant benefits for fix and flip real estate investors. Whether you want to earn cash back, rewards points, or other benefits, there is a credit card that can meet your needs. Consider the features and benefits of each card, as well as your spending habits and goals, to determine which card is the best fit for your business.
Remember to use your credit card responsibly and pay your balance in full each month to avoid interest charges and fees. By using credit cards strategically and wisely, you can maximize your rewards, save money, and achieve your fix and flip real estate investment goals.