I spend a lot on my Chase business credit card. For that reason, I wanted to make sure I had been set up with a pretty good deal when it came to reward points. What I ended up choosing in the end was not a cash back program or something where you could pick from different prizes when you accumulated so many points.
Although my card actually gives you the option to use your points for actual goods rather than just travel points, I primarily use it to get the airline travel miles because of the way I use the points. In the end, I get to go out and see family for nothing as opposed to paying out the nose for an airline ticket since they are so expensive these days.
My card, which is a Chase card for United and Continental miles (they are combined now into one program, which is nice), offers me the options to do other things with my points. For example, I’ve purchased Restaurant.com gift certificates with the points I have rather than accumulating them to a ticket.
This is nice because it you just happen to have a ridiculous amount of points like I did at one point, you can use little bits and pieces of those points to get the fun stuff if you don’t happen to need to use them for travel at that time.
My husband and I ended up getting some great times out for half the cost they would normally be. We also used some of the points on a hotel stay once. That, I wouldn’t recommend because you really don’t get much for the the points you have to give up. If I had to do it allover again, I would have just paid for the three nights we stayed at our hotel instead of use the massive quantity of our travel points that we had to use.
It took me almost a whole year to reaccumulate those points! So needless to say, unless we are doing a lower end hotel next time that takes much less points, we will only be using the points for other things.
I think it’s crucial to choose a business credit card that allows you do what you want to do with your points, rather than pigeon holing you into doing one of two specific things. That way, if you happen to need something else with those points, you have the options to spend them any way you like with minimal “penalty”.
Even for those stay at home vacations that are so popular these days, you can use your versatile card for whatever you’d like.