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You may not have the patience to be a landlord. But you may have the skills and cash to fix and flip homes for a profit in a short time. A house flipper can maximize their expenses using these rewards credit cards.
Because you will most likely be making large purchases, you might be able to qualify for the best limited-time credit card offers. It’s possible for house flippers to earn bonus points on home improvement and advertising purchases.
American Express Blue Business Cash Card
The American Express® Blue Business Cash Card might be the best business cash rewards credit card with no annual fee (See Rates & Fees). You earn 2% back on the first $50,000 in eligible annual purchases. All remaining purchases earn 1% back. Your rewards balance automatically redeems as a monthly statement credit.
Another option is the Blue Business® Plus Credit Card from American Express. It earns 2x Membership Rewards on the first $50,000 spent on eligible purchases (then 1x points). Your points are most valuable when redeeming for award flights or transferring to the Membership Rewards airline partners at a 1:1 ratio including Delta, Emirates, and Singapore Airlines.
Capital One Spark Cash for Business
If you want the satisfaction of earning unlimited 2% back on all purchases check out the Capital One® Spark® Cash for Business. Your rewards are redeemable in any amount for cash statement credits. The annual fee is $0 for the first year, then $95.
For a limited time, you can get a $2,000 cash signup bonus. Spend $5,000 in the first 3 months to get $500 bonus cash. Then spend $50,000 total in the first 6 months to get the remaining $1500 cash bonus.
There are several other versions of the Spark business credit cards. For instance, the Capital One® Spark® Miles for Business earns 2x miles. You can redeem your rewards for travel statement credits, future trips, or airline point transfers. You also get a TSA PreCheck or Global Entry fee credit. The annual fee is also $0 for the first year, then $95 every year after.
Also, for a limited time, you can get a 200,000 miles signup bonus. You’ll need to spend $5,000 in the first 3 months to get the 50,000 bonus miles. Then spend $50,000 total in the first 6 months to get the remaining 150,000 bonus miles.
Other Spark versions don’t charge an annual fee and earn up to 1.5% or 1.5 miles back on purchases. These cards might be easier to qualify for if you have a lower credit score.
Learn more: Capital One Spark Business Credit Cards Review
Ink Business Unlimited Credit Card
Your spending habits may not align well with a tiered rewards credit card. If you still want to earn Chase Ultimate Rewards, the Ink Business Unlimited℠ Credit Card earns 1.5% back (1.5 points per $1) on all purchases. You can redeem your points for cash, travel, and gift card rewards.
This card has no annual fee. The signup bonus is $500 bonus cash after spending $3,000 in the first 3 months. It is also one of the best Chase business credit cards available.
Ink Business Preferred Credit Card
The Ink Business Preferred℠ Credit Card gives you 3x Ultimate Rewards points on the first $150,000 in combined purchases for these expenses:
- Shipping purchases
- Internet, phone, and cable services
- Social media and search engine advertising
All non-bonus purchases earn 1 point per $1. The best bonus category can be advertising purchases. If you pay to feature your properties or services on search engines or social media, you get 3x points.
Your points are most valuable when redeeming for award travel. Each point is worth 25% more when booking award travel through Chase. You can also transfer your points at a 1:1 ratio to airline and hotel partners. Points are worth one cent each when redeemed for cash and gift cards.
If you own another Chase credit card that earns Ultimate Rewards, you can pool your points.
Cards like the Chase Sapphire Preferred® Card can be a great supplement if you are looking to earn travel rewards. Alternatively, the Capital One® Venture® Rewards Credit Card is also excellent for travel rewards.
Compare the Chase Sapphire Preferred vs Capital One Venture Rewards to find the better card for your wallet.
Lowe’s American Express Business Rewards
The information for the Lowe’s American Express Business Rewards has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
Your best card for Lowe’s purchases is the Lowe’s American Express Business Rewards. You get an instant 5% discount on Lowe’s purchases. You also earn rewards points on every credit card purchase:
- 3x points at restaurants and office supply stores (U.S. purchases)
- 2x points at Lowe’s
- 1x points on all non-bonus purchases
Your points are redeemable for Lowe’s or American Express gift cards.
Getting this card also enrolls you in Lowe’s ProServices. Benefits include discount delivery, exclusive sales, and bulk rate pricing. You can also get $100 cash back upon application approval.
Home Depot Credit Cards
The information for the Home Depot Credit Cards has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
The Home Depot credit cards are not as exciting as the Lowe’s card. For instance, you won’t get an instant Home Depot purchase discount. But you can get special long-term financing for large purchases.
The precise terms depend on if you get a personal, commercial, or a revolving line of credit.
You also get Pro Xtra special discounts not available to regular Home Depot customers. And you can save on gas purchases at Shell stations. The Home Depot lineup doesn’t have an annual fee.
Amazon Business Prime Card from American Express
House flippers may also enjoy buying random items from Amazon when getting your home ready to sell. As a Business Prime member, you qualify for the Amazon Business Prime Card from American Express. Amazon benefits include 5% back on Amazon purchases or 90-day interest-free repayment terms.
You also get 2% back on U.S. purchases for restaurants, gas stations, and wireless telephone services. All non-bonus spending earns 1% back. Your points are redeemable for Amazon.com shopping points or recent purchase statement credits.
The welcome bonus is a $125 Amazon.com gift card upon approval. You can also earn a $100 statement credit by making $3,000 in 2% bonus category purchases in the first 3 months. It is also one of the best metal credit cards available.
Southwest Rapid Rewards Performance Business Credit Card
Some house flippers may like using their purchases to book award travel. If you live near a Southwest Airlines hub, the Southwest Rapid Rewards® Performance Business Credit Card is a good option. Every purchase (and the signup bonus) earns Rapid Rewards points that count toward getting the Southwest Companion Pass.
In 2020, the rules for the pass will change. You will need 125,000 points or 100 qualifying one-way flights instead of 110,000 points.
House flipping can require large purchases which makes it easy to earn the 70,000-point signup bonus after spending $5,000 in the first 3 months. You also earn 3x points on Southwest Airlines purchases, 2x points on social media or search engine advertising plus internet, phone or cable services. Non-bonus spending earns 1x points.
Related article: If you tend to fly United more than Southwest, the United℠ Explorer Business Card also has a nice signup bonus. New cardholders can earn up to 100,000 miles. They earn 50,000 miles after spending $5,000 in purchases in the first 3 months of account opening, then earn an additional 50,000 miles after spending $25,000 total in the first 6 months of account opening. Learn more: Best United Credit Cards
Southwest Airlines benefits include free in-flight WiFi credit, 4 Upgraded Bookings per year (when available), and a Global Entry or TSA PreCheck fee credit.
The annual fee is $199. You earn 9,000 bonus miles each card anniversary.
Learn more: Best Southwest Airlines Credit Card Bonus Offers
Costco Anywhere Visa Business Card by Citi
You might also purchase certain supplies from Costco. If you’re flipping a furnished home you might get appliances from Costco. Enjoy an annual Costco shopping credit with the Costco Anywhere Visa® Business Card by Citi. Your purchases earn up to 4% back:
- 4% on eligible gas station purchases (on the first $7,000 annually, then 1% back)
- 3% back on eligible travel and dining (includes CostcoTravel.com)
- 2% back at Costco and Costco.com
- 1% back on all remaining purchases
This card can also be worth it alone for the gas station rewards. Most credit cards only award up to 2% back at gas stations. As long as you are fine redeeming those awards as a Costco shopping credit (awarded in February) this is an easy way to double your spending power.
There is no annual fee but you must be Costco member to own this card. Costco membership costs $60 or $120 depending on which plan you select.
Summary of the Best Credit Cards for House Flippers
A house flipper has a lot of flexibility in picking the best credit card for their business. The hardest decision can be deciding between travel or cash rewards. Then, you can compare the bonus categories, signup/welcome bonus, and repayment promotions.
For rates and fees of the American Express® Blue Business Cash Card, please click here.
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- 1 American Express Blue Business Cash Card
- 2 Capital One Spark Cash for Business
- 3 Ink Business Unlimited Credit Card
- 4 Ink Business Preferred Credit Card
- 5 Lowe’s American Express Business Rewards
- 6 Home Depot Credit Cards
- 7 Amazon Business Prime Card from American Express
- 8 Southwest Rapid Rewards Performance Business Credit Card
- 9 Costco Anywhere Visa Business Card by Citi
- 10 Summary of the Best Credit Cards for House Flippers