How to Stretch Your Business’ Budget Using a Cashback Rewards Credit Card
When looking to stretch a dollar, it’s easy to think up penny-pinching strategies, but have you ever thought of using your credit card to make your business’ budget go further? With a cash back rewards credit card, like Evergreen® by FNBO Business Edition® Credit Card you can. Here is how it works.
Get Cash Back on Everyday Business Purchases
When you make everyday purchases with the Evergreen Rewards Mastercard®, you get two percent1 of the purchase back in cash. It’s that simple. If you buy office supplies and spend $30, you get 60 cents back. As you continue to make purchases, your cash back rewards add up.
For example, if you spend $200 per week on gas for company vehicles, and you pay using your rewards card, each week you’re earning $4. By the end of the month, you’ve earned $16. Over the course of the year, that’s nearly $200 you could use on other business expenses such as supplies or marketing.
Most businesses spend 81 percent or more of their annual sales on business expenses each year. Using this number, we can say that if your business makes $100,000 a year, annual expenses will amount to $81,000. If you charge just half of your expenses to the Evergreen Rewards Card, you will receive $810 cash back at the end of the year. If your business were to charge all the company’s expenses to the card, you could double those cash back earnings and see $1,620 cash back by year’s end.
While we don’t recommend making purchases simply to earn cash back, using your rewards card to pay for things you would normally buy is a nice way to stretch a dollar, provided you can continue to pay off your card monthly and don’t carry balances.
If you’re planning to purchase new furniture, make repairs, or travel for business, paying for these expenses with your Evergreen Rewards Card can stretch your budget a little further, netting you a return on your investment that will help offset some of the initial cost. Plus, the Evergreen Business Credit Card gives you the opportunity to earn 10,000 bonus points every anniversary with $10,000 annual spend.1 That’s equivalent to $100 in your pocket.
Add Multiple Users to Your Account to Earn More Cash Back
By adding your business partners or employees to your account, you can earn even more cash back. With Evergreen, add up to 5 employees to your account and manage your account settings including users, card limits and expenditures in one easy to use portal. It’s also an opportunity to shift away from the risk of using petty cash toward a more secure way of financing everyday business expenses as well as a way to manage cash flow.
Choose a Card with No Category Restrictions
The nice thing about the Evergreen Rewards Card is that there are no category restrictions. That means you earn 2 percent cash back on every purchase, every time you use the card.1 Many other cards offer high returns only on certain types of purchase, such as travel, and lower rebates or nothing at all on purchases made in other categories.
Choose a Card with a 0% Introductory Rate2 on Purchases
When it comes to making larger purchases choose the card that offers zero percent financing2 for the first 6 billing cycles after the account is opened. Simply make a purchase using your card and pay it off over time.
How to Redeem Your Cash Back Rewards
Once you’ve earned cash back, you can use it nearly any way you choose. You can apply a statement credit to reduce the amount you owe out of pocket on your bill or have it deposited to a checking or savings account and use it for something your business needs, like marketing expenses, new equipment, or office furniture. Did we mention that with the Evergreen® by FNBO | Business Edition® Credit Card your points don’t expire?1 Redeem your cashback when you’re ready and enjoy no-worry pointssm from FNBO.
Additional Advantages of the Evergreen Cash Back Rewards Credit Card
In addition to cash rebates on purchases, the Evergreen Rewards Card offers a number of useful services and amenities, such as fraud and identity theft protection.3 We’ll help you recognize when someone may be using your identity without your knowledge.
Get free access to your FICO credit score, something you should check regularly to help deter fraud and manage your credit rating. Receive 24-hour roadside assistance and enjoy automatic discounts from a broad range of companies, such as Microsoft and Stamps.com, allowing you to further stretch your funds by saving money up front on purchases.
This strategy can really help you stretch a dollar, and in many respects is better than a loan. Taking this approach, you’ll avoid paying interest2 for the first 6 billing cycles after the account is opened and earn cash back1 rewards on what you buy. This can be particularly advantageous for business owners who often need to borrow money to pay for larger company expenditures.
With 2 percent cash back1 on purchases and a host of money-saving amenities, using the Evergreen Rewards Credit Card is a simple way to stretch your budget and save money for the things your business needs even faster.
Please see the Summary of Credit Terms for important information on rates, fees, costs, conditions and limitations. Minimum monthly payments required.
You must pay your entire statement balance (including all promotional purchase and balance transfer balances) by the due date each month to avoid being charged interest on new purchases from the date those purchases are made unless your new purchases are subject to a 0% interest rate.
1 See the Rewards Terms and Conditions in the Summary of Credit Terms for details, including earning, redemption, expiration or forfeiture. Your % back rewards are earned as points.
2 For additional information about Annual Percentage Rates (APRs), fees and other costs, please see the Summary of Credit Terms.
3 Complete program details including restrictions, limitations, and exclusions will be available when you become a Cardmember.
Maximum Credit Limit is $50,000. Cards are issued by First National Bank of Omaha (FNBO®), pursuant to a license from Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
The articles in this blog are for informational purposes only and not intended to provide specific advice or recommendations. When making decisions about your financial situation, consult a financial professional for advice. Articles are not regularly updated, and information may become outdated.