Sharing Credit Card Perks with Biz Partners?
 

We run a pretty high Amex bill each month and rack up some pretty good points... Which brings up, who gets them?

So, few questions...

You own 40%, not the president and not tied to anything finically, are you entilted to 40% of the perks?

Or..

You own 40% and the card is based on your personal credit, and 100% financially tied to everything the business has... Are they yours?

Kind of an odd situation, but trying to find the "happy medium" between three people.

I had the same situation years ago, and the same went for sponsor rewards too. We kept a spreadsheet (google doc) and tried to keep things as even as we could. It makes sense to me at least, that the rewards belong to the company, so they should be split the same as earnings.

It's not as easy as splitting revenue, but could be seen as such.

Problems come up with the one who manages budgets and bills, including the CC in their name. Are the entitled because they are more at risk as the card is in their name?

I had a friend go through something a few years ago which ended up ruining the business. There was 4 partners in the company and the one setup a card and took over 1mm points for him and his family to go on vacation.

IMO, if everyone is willing to share the "risk" then it should be fair game, but if one or more members doesn't want to be financially tied, then they shouldn't be able to receive the "point" perks.

It's a tough call regardless, but definitely one of those things you touch upon up front. We all "agreed" to a point, but now that it's racking up some are saying, it's becoming a question as to who is eligible and who is not.

Plus with the cards themselves, Platinum (we don't travel, no point in Centurion unless the fee is out of your pocket) vs Green has HUGE differences.

Point being, trying to avoid an argument is best within any company and partners, but money will always cause issues :2 cents:

If the business is making use of my card and my credit. Those rewards are mine. There's no debate.

Agreed. If you don't want to give all the rewards to one person, get a company card.