Is there a Credit Card company that caters rewards programs to photograpy businesses?

[gawyn21]

I finally started setting up the framework for my photography business. Do you have an suggestions on a Credit Card

that offers reward programs with retail/online companies that a photographer would find interesting, i.e Adorama, b&h

photo etc.

 

I've checked with a site that compares Credit Card reward programs, but I wanted to get some feedback from people

that are happy or dissattisfied with thier CC program. I am aware that a higher % rate will negate potential rewards.

What is working for you and your business as a photographer?

 

Thanks

 

John

[tana_d.]

We have an Amazon credit card. After you spend so much (I think about $2500) , you get a $25 credit (or whatever they call it), to spend on whatever you want at Amazon. I bought my 85mm 1.8 this way.

[maurycy]

I have a Capital One business card that gives me 1% cash back with no limits on spending. So far the program works well. I also have a personal card (Citi Dividents) that gives me 2% back at the gas station, pharmacy and supermarkets and 1% for everything else. This card has max. $300 reward dollars per year so it wouldn't be good for business purchases. Citi I have for years and this program also works well though it used to be 5% in the three categories and now it is down to 2%.

 

I think cash rewards are the best. You get a check when you accumulate certain amount and you can spend it for whatever you want. I also subscribe to one of the airline mileage programs but even I do fly at least once a year, I am not really able to use the points because of some restrictions or ticket price is too high or something.

[kelly_flanigan1]

What a "rewards card" means to a retailer you buy from is less cash from the transaction. Thus a 100 dollar bill is worth more to B&H or my store than 100 on a credit card; the "reward cards" give us less cash; the extra is the kick back to you for your reward. the "library" of cards types is ALOT. "Reward cards, a corporate card; a foreign card are the one we get the least from; ie the pits. Thus the game goes that that 1000 dollar lens cor cash might be like 1035 to 1050 for a rewards card or corporate card'; maybe 1050 to 1080 for a foreign card.; and only 1014 for a secure swiped card from a lady from Plainsville. Thus part of the game we play is to see what card is going to be used while haggling over prices; the loss often can equal the profit margin on a tight item. The "reward" card just means each vendor gets paid less; sort of like paying for 4.00 gas for 3.88 . To support these "lossy" cards with kickbacks vendors just raise prices on all items. With a gas station with a small transaction the lossy card might be the profit; there is little when a rewards card is used.

[rogerjporter]

Kelly, that's part of the cost of doing business, the alternative is to switch to cash only, and how many of your customers

are realistically going to wait until they have 1000 dollars cash to buy that lens? How long do you think your business doors

would be open if you only took cash? American society as we know it is built upon credit purchasing, and it's terrifying to

think that with the economy going the way it is, more people may have to switch to cash only and cut back dramatically on

credit spending. That will ultimately hurt small businesses that rely on credit purchases... camera stores and other luxury

item retailers are going to be hit hard. Keep in mind too just as you have expenses to keep your business running (utilities,

rent, etc) credit banks are not exempt from that too. It costs money to upkeep the computers that allow your merchant

service machinery to talk to the banks to process the transactions, there are salaries to pay the employees to make it all

run, answer phone calls, and send out bills (ok, that last one is mechanized, but someone had to build and maintain that

system). A better way to look at is is that that extra 1 or 2 percent you pay to accept rewards credit cards is coming out of

your "advertising" budget and is actually driving customers in to your store to purchase more. And yes, i do work in a bank.