There are many costs to running a small business. Whether youâre restocking office supplies, paying for online marketing, buying new software or taking your biggest client out for dinner, thereâs likely no end in sight to your expenses. But if youâre going to spend, you might as well benefit from it. Here are some ways to turn everyday business expenses into travel rewards.
Put your expenses on one credit card
Using a business travel credit card for all your expenses is the best way to make sure every purchase helps you get where you need to go. Particularly if you have recurring costs in the form of monthly subscriptions or restocking the office kitchen, you could receive points or miles for any eligible purchases.
If youâre part of a larger team or you have employees, itâs helpful to have everyone use the same card or be authorized users so that you can track all that spending and pool those rewards. The more you spend on your card in your biggest rewards categories, such as hotel stays and client meals, the more points youâll have to put toward travel perks and rewards.
Decide which type of travel rewards works best for you
When choosing a business travel credit card, it can be helpful to figure out which types of travel rewards benefit your business the most. For example, if most of your clients are in one city, it may be useful to book with an airline with a direct route so that you donât have to deal with layovers and missed connections. See if thereâs a travel credit card that partners with that airline, or if not, one that lets you spend your rewards anywhere you want.
Similarly, if you have a preferred hotel chain, see if you can find a card that has the hotel as a partner to make the most of your rewards. If you spend a lot of time driving from client to client, look for a card that offers the highest number of points per dollar spent on gas, electric vehicle charging, car rentals, taxis and rideshares.
With a CIBC Aventura® Visa Card for Business, you could take advantage of the Rewards Center and online travel management tools for more seamless booking. And your points donât expire, so youâll be able to use them for your next big business trip or save them for future travel.
Make the most of the sign-up bonus, statement credits and cash back
If you have any large purchases or expensive travel looming, you might consider signing up for a new business travel credit card with a sizable welcome bonus. Youâll usually need to spend a minimum amount of money on the card in a specific period of time. Once you charge that amount of money to the card, youâll be rewarded with a significant number of points that you can put toward flights, hotels or other travel perks. You may even be able to redeem the points as a statement credit to pay down your credit card balance. Some cards also offer bonus points simply for making your first purchase.
You might also be eligible for statement credits if you stay at a hotel for a certain number of nights, which can lower your credit card bill, or receive cash back on gas station purchases, meaning youâll have extra cash on hand to put toward other travel expenses.
Look for opportunities to transfer points
If you arenât committed to using one airline or hotel group, you might want to look for a card that allows you to spend points across different brands. That way, as you earn points on your business expenses, you can use them to book with whichever airline or hotel makes the most sense for your next work trip.
Use your business expenses to boost your travel rewards
As a small business, it can feel like youâre constantly juggling expenses. While your day-to-day costs may feel overwhelming from time to time, the right credit card can reward you with perks and points. You can use your points to offset the cost of travel and maybe even score a seat upgrade or a more comfortable hotel room at a discounted rate.
Media Contact Information
Name: Sonakshi Murze
Job Title: Manager
Email:Â sonakshi.murze@iquanti.com
