CardWise Compass / A clearer path to free travel.
Hi {{first name | friend}}!
Hope you all are well! Last issue I said I'd change your mind if you think you don't qualify for a business card. Challenge accepted.
Estimated read time: 3 minutes
Today's Issue at a Glance:
Signal: A free way to search for unclaimed money in your name!
Strategy: A side hustle is enough to get a business card, even at $0 revenue so far
Scenario: What $2,000 a month of normal spending could turn into
Step: Think about your side hustle and a bonus worth $750 to $1,500
Signal
Did you know that your name could be attached to unclaimed money that is rightfully yours?
When a bank, employer, or insurance company holds money that it can't deliver to you, the law requires it to turn that money over to your state for safekeeping. Ex: bank accounts, insurance policies, and a former employer's unpaid wages.
MissingMoney.com searches the state programs for you. Enter your last name (and first name, to narrow it down), then pick a state or search all of them. If something matches, you file a claim. It's free, and the National Association of Unclaimed Property Administrators endorses this site (not an affiliate link, I’m just trying to put money back in your pocket!).
I found $140 in wages from a former job, and Becca found $180! (Your mileage may vary.)
No one site covers it all, so USA.gov's guide tells you where to check for more unclaimed property. If you have a business name, search that too. Please LMK if you get some free cash!
Strategy
If you remember one idea from this week's newsletter, let it be this:
A side hustle is enough to qualify for a business card, even at $0 revenue so far.
"Business" sounds like it needs a lobby and a receptionist. (Neither is on the application. I checked.) Banks ask for a business name, business type, industry, time in business, and expected revenue. "Sole proprietor" is a valid type, where you just apply using your own name and social security number. No LLC or tax ID required. Freelancing, consulting, occasionally selling items online, rideshare driving, dog walking, etc all count. My blog explains this more if you’re interested: Do you need an LLC to get a business credit card?
Scenario
Chase's Ink cards are the go-to business cards I recommend people start with, as they have some of the best sign-up offers. The Ink Business Preferred’s is 100,000 points after $8K spend in 3 months ($95 annual fee). The Ink Business Cash and Unlimited (no annual fee!) offer $750 after $6K spend in 3 months. The Cash or Unlimited’s sign-up bonus can be made more valuable if you have the Ink Business Preferred, or the Sapphire Preferred / Reserve, where they become Chase points, and not just cash back.
But here's a little secret that helped me a ton: the minimum spend doesn't have to met with your business spend. Your personal spend can help cover your minimum spend since your bank won’t ask what you bought. Groceries, gas, bills, (or anything else) all can help you hit the necessary threshold. Just keep business receipts separate for tax time.
If you freelance on the side but have no business expenses, just from putting $2K a month of personal spending on the Ink Unlimited, you’ll receive the $750 sign-up bonus. Pretty sweet!
Step
This week, think about any side hustle you have, or could start. If something comes to mind, a sign-up bonus quite easily worth $750 to $1,500 may be within reach.
Links: Ink Business Preferred, Ink Business Cash, and Ink Business Unlimited. These are my referral links, a free way to support my work. Unlike other blogs / sites, I always prioritize you getting the best offer, whether or not I benefit.
Not sure which card fits? Reply with your question, or book your free "Let Points Cover Your Next Trip" strategy call.
Next issue, we’ll dive into the power of transfer bonuses.
Blessings, and I hope to hear from you soon!
Ross
CardWiseTravel.com