Best Rewards or CashBack card for domain related expenses.

[Steve Andersen]

Would be interested in hearing what people find to be the best rewards cards for domain related expenses from acquisition expense to renewal fees.

 

[bmugford]

Would be interested in hearing what people find to be the best rewards cards for domain related expenses from acquisition expense to renewal fees.

My Chase Ink card classifies GoDaddy purchases under the "office supply" category that pays 5% rewards, up to the first $25K spent.

https://creditcards.chase.com/a1/ink-business/universal/cash

EARN 5% CASH BACK​

on the first $25,000 spent in combined purchases each account anniversary year

• At office supply stores
• On internet, cable and phone services

 

[Eric Lyon]

My Chase Ink card classifies GoDaddy purchases under the "office supply" category that pays 5% rewards, up to the first $25K spent.

https://creditcards.chase.com/a1/ink-business/universal/cash

EARN 5% CASH BACK​

on the first $25,000 spent in combined purchases each account anniversary year

• At office supply stores
• On internet, cable and phone services

^That's an excellent choice for domain investors with an assumed name and DBA.

Note: Chase generally sticks to a 5/24 rule - Meaning you can't have more than 5 hard pulls (inquiries for credit/loans) in the last 2 years on your credit report, or they will decline your application. (Not always the case, but 97% of the time)

For domain investors looking for a personal cash back for their hobby (Not business) they may want to look into some flat % on everything (No category or cap) type cards, such as, but not limited to:

Very good to Excellent credit (Fico8 - 750 to 850)
Wells Fargo Active Cash Visa Signature @ 2% everything
AOD Credit Union Visa Signature @ 3% everything
Synchrony MasterCard @ 2% everything
Comenity MasterCard @ 2% everything

Fair to Good credit (Fico8 - 650 to 749)
Capital One Quick Silver Visa @ 1.5% everything
Mission Lane Visa - @ 1.5% everything

 

[iAdam]

Maybe not the best but I use PayPal Cashback Mastercard 2% back on everything.

 

[marijuanadomain]

my BFA platinum credit card gives me 3% on all purchases and sometimes 5% on promo days.
Being with BFA for 20+ yrs
I pay everything and gets back about 4K$ every year.

 

[Eric Lyon]

my BFA platinum credit card gives me 3% on all purchases and sometimes 5% on promo days.
Being with BFA for 20+ yrs
I pay everything and gets back about 4K$ every year.

Do you mean BofA (Bank of America)? They have a 3% category choice for online shopping.

^^Very good to Excellent credit (Fico8 - 750 to 850)

 

[marijuanadomain]

Do you mean BofA (Bank of America)? They have a 3% category choice for online shopping.

^^Very good to Excellent credit (Fico8 - 750 to 850)

Yuppers
I have 803 credit score

They have bonus rebates too

 

[Steve Andersen]

Yuppers
I have 803 credit score

They have bonus rebates too

Thanks I’ll have to check that out, I use Capital One Venture currently, and get 2 points per $ spent, This would be way better.

 

[marijuanadomain]

I used Amazon Chase too and they have 5% back too.......

If you like to shop at amazon, that the best card to use.
5 percent back on Amazon and at Whole Foods, 2 percent back at restaurants, gas stations and qualifying drug stores, 1 percent on all other purchases.

 

[marijuanadomain]

I used Amazon Chase too and they have 5% back too.......

If you like to shop at amazon, that the best card to use.
5 percent back on Amazon and at Whole Foods, 2 percent back at restaurants, gas stations and qualifying drug stores, 1 percent on all other purchases.

I paid my truck with my credit card and got back $4K...go figure!!!

here a good one
google the news

Billionaire earns first-class travel for life by putting Modigliani nude on Amex​

Liu Yiqian and his family can now fly free all over the world after he used his credit card, which earns points, to buy a $170m painting

 

[Eric Lyon]

If you're going to be traveling to domain industry events, you may also want to pair a combination of cards that cover your bases like this set:

SamsClub MC
5% cash back on gas anywhere. And 3% off dining out. (Great for gas)

American express BlueCash Pref.
6% cash back on groceries anywhere, 6% cb on streaming services, 3% cb on transit (plane, taxi. Etc.), 3% cb on gas, 1% everything else. (Great for misc. Travel expenses)

Walgreens MC
10% cash back on all Walgreens brand items, medicine, etc., 5% cb on all namebrand items. Medicine, etc., 3% cb on health products purchased anywhere else. (Great for your first aid or emergency kits)

All three require Very good to Excellent credit (Fico8 - 750 to 850)

Those are my top choices anyways. Everyones different.

 

[Eric Lyon]

Disclaimer: it should be noted that one should not open credit lines to invest into domains just starting out. It's too easy at first to make mistakes that may destroy your credit if they never cash out.

Only use credit for purchases you already make to benefit from cash back rewards programs. Over spending = debt building.

Maybe once you master a domain niche and fully understand the investment, how to market it, and can afford to still pay for a loss if it falls through, should you consider credit cards as a micro loan to invest in domains with.

That's just my opinion though. Everyones different.

 

[Eric Lyon]

Added note: The only way cash back saves people money is to only spend what you normally would and paying the card off in full every month. If you don't, the interest will eat all your cash back Savings.

Even at 5% cash back, if your interest (apy) is 19% to 24%, you're losing money, not saving it, by carrying a balance.

What some choose to do to avoid added loses is to go with a low credit union platinum apy interest card.

There's no cash back, but for those that may be carrying high balances over a few months to pay it off for a premium asset acquisition, a credit union platinum card makes sense.

Credit unions generally give much lower apy than standard banks or fintechs.

For example:

• MCCU - geofenced to South East Texas = 6.75% apy
• NFCU - Nation wide = 5.99% apy
• Penfed CU - Nation wide = 13.49% apy

 

[marijuanadomain]

Some people I know they play the transfer their balance to another new CC and gets the rewards and then transfer and transfer...

bottom line----is --no debt!!!-stress free, and your life will be good.

As they say---Money is the root of all evils but actually

Having NO MONEY is the root of all evils!!

 

[Eric Lyon]

Some people I know they play the transfer their balance to another new CC and gets the rewards and then transfer and transfer...

bottom line----is --no debt!!!-stress free, and your life will be good.

As they say---Money is the root of all evils but actually

Having NO MONEY is the root of all evils!!

Lots of 0% apy for the first 6 to 12 month intro offers. Also, lots of new sign up spend bonuses (e.g. $250 cash back if you spend $2k in first 90 days).

So yes, that's definitely a balance transfer game some play.

 

[Steve Andersen]

Lots of 0% apy for the first 6 to 12 month intro offers. Also, lots of new sign up spend bonuses (e.g. $250 cash back if you spend $2k in first 90 days).

So yes, that's definitely a balance transfer game some play.

I would never play the move debt around game, plus most cards now days charge around 3% balance transfer fee even if the APR is 0% for an introductory offer, so it’s not really zero. My way is everything has to be paid off by the monthly due date.

Another bad thing about credit cards, while most have a 25 day grace period to pay after the statement date as soon as that date goes by and balance not paid in full, you now will get interest charged on every thing starting from the moment of the charge. No more grace period. To make it worst’s some card companies compound interest daily and some even multiple times per day.

Life, can always throw you curve balls, and in todays political, covid, and the geo political world of events occurring brings a lot of short term uncertainty and being buried in debt is a risky proposition. I especially wouldn’t recommend borrowing money for domains and paying interest.

Now why I have not done it, if I did see a name I really wanted, primarily to develop or as a long term investment, I would consider 0 interest payment plan to make acquisition provided it was a lease to own with ability to walk away if need be.

 

[Eric Lyon]

I would never play the move debt around game, plus most cards now days charge around 3% balance transfer fee even if the APR is 0% for an introductory offer, so it’s not really zero. My way is everything has to be paid off by the monthly due date.

Another bad thing about credit cards, while most have a 25 day grace period to pay after the statement date as soon as that date goes by and balance not paid in full, you now will get interest charged on every thing starting from the moment of the charge. No more grace period. To make it worst’s some card companies compound interest daily and some even multiple times per day.

Life, can always throw you curve balls, and in todays political, covid, and the geo political world of events occurring brings a lot of short term uncertainty and being buried in debt is a risky proposition. I especially wouldn’t recommend borrowing money for domains and paying interest.

Now why I have not done it, if I did see a name I really wanted, primarily to develop or as a long term investment, I would consider 0 interest payment plan to make acquisition provided it was a lease to own with ability to walk away if need be.

Ya, I don't do the balance transfer game either. But I do keep a platinum with bt option and low apy in my wallet for emergencies. Especially in uncertain times.

Unfortunately, it can be hard to get a balance transfer platinum with low apy once someone's credit is already stretched/maxed. So it's best to get one while you don't need it. (E.g. better to have and not need than need and not have) "just in case planning".

 

[Eric Lyon]

Here's another to add to the list for cash back options for domain related online spend.

Alliant cashback Visa Signature

• Earn up to 2.5% cash back with no categories to track on up to $10,000 in purchases each billing cycle with qualifying accounts. All other purchases earn 1.5% after that.

Requires very good to Excellent credit (Fico8 - 750 to 850)

 

[marijuanadomain]

balance transfer game will literally ruin your credit score and you gonna pay more interest and maybe denied from any credit cards...

 

[Eric Lyon]

balance transfer game will literally ruin your credit score and you gonna pay more interest and maybe denied from any credit cards...

Right, because the same amount is reporting regardless what card you move it to.

The key points to balance transfers are:

• Consolidation to help lower the overall apy you're paying now on balances that are already taking longer than 1 billing cycle to pay off. Interest adds up fast, so the lower you can get it, the better when looking to get out of debt faster.
• Unexpected big expenses with a lower apr would benefit more than a cash back that's Capped with a max limit lower than your Unexpected spend.

One should not play the transfer game to keep prolonging debt and building more, but to get the debt under control enough they can see the light at the end of the tunnel.

In short, It's an emergency consolidation and Unexpected events option in my opinion.

One must be disciplined to manage it and not keep spending.

 

[Eric Lyon]

Just saw that PayPal updated their Mastercard cash back program by adding 3%cb on pp purchases and 2%cb on everything else.

That 3%cb bump could be beneficial to some. Unfortunately it's not available yet and there's a waiting list.

Here's the details:https://www.paypal.com/us/digital-wallet/manage-money/paypal-cashback-mastercard/waitlist

Requires a good credit score of 670 or higher.

 

[Eric Lyon]

Just FYI, the PayPal Business version Mastercard backed by Webank, just updated that instead of just being a 2% cash back everything card, it's now also a 3% cash back online category card if you pay an invoice through PayPal or use an instore QR code and select the card for paymentinstead of balance.

That used to just be for personal accounts (as seen in my previous post from last year), but has recently been extended to business accounts.

More details: https://www.paypal.com/us/business/financial-services/credit-card

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