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do you need a credit card for dropshipping

Published on: January 28 2023 by pipiads


[Music]. if you're not using credit cards for your e-commerce business or any other business that you need to spend money on, then you're essentially paying two percent extra per year in taxes, and what i mean by this is essentially using and leveraging the power of credit cards. you can essentially make more money and, at the same time, lower your risk. and how do you exactly lower your risk with credit cards, you may ask. isn't credit cards risky? you're borrowing money. you could go into debt. well, the truth is that i'm currently 18 and in just nine months time, i managed to get myself six credit cards and over 20 debit cards to use for my business. now, obviously, all those debit cards aren't really necessary. it's mainly to try them out for youtube videos and whatnot- but regardless they are. the credit cards and some debit cards are a major part of my business and how i run my business to this date, and i'm going to be teaching you how you can leverage credit cards and or debit cards to maximize points, rewards and other factors to essentially travel the world for free, make more money or lower your risk in general by borrowing money and not using debit. now, if you run a business like a drop shipping business, like what this channel is mainly about, then you already know that drop shipping businesses require a ton of spending. there are marketing costs, which is usually facebook ads, google ads, snapchat, tik tac ads. there are a ton of advertising platforms. whatever you choose, you're gonna spend money regardless. the other costs include product cost. this is what the merchandise costs to ship to your customer. this cost you can definitely not neglect, because when you are drop shipping, you definitely need to be actually shipping the product to the customer. next, you're going to have employees. this is usually virtual assistants. now, if you need help hiring virtual assistants, i made an excellent video on how you can scale this 10k plus per day using virtual assistants in your shopify drop shipping store. i'll leave a link in the description if you want to check out that video, or just, um, go back a few videos, um, whenever you're watching this and you should find it there. next is software cost. when you're running a shopify drop shipping store, there are definitely software costs, like a shopify plan, which is starting at 29, and there are a lot of other apps i recommend you use, like luke's reviews, uh, keep cart and many other apps like oberlo, and even apps that that help track your profits like pure profit um. there are a lot of apps that make your life a lot more convenient, but the cost do add up. so right, right about now i'm averaging like a hundred dollars a monthly uh cost in terms of apps um in in my shopify store. so it does add up very, very fast. so do plan um to spend money on ad and marketing cost, product cost, employees and many other factors. as what i just covered. the big advantage of having a drop shipping business is the spend. you're gonna spend a ton of money and this money you're gonna spend anyway, so might as well put it through a credit card now. i have a selection of credit cards here here. i have about six um, there are one. there's actually one more coming surprisingly. i'm actually not a surprise because my addiction has gone me this far, not into debt. so, with that being said, why should you use a credit card now? the biggest reason why you should use a credit card for your drop shipping business or any other business, is rewards. if you're gonna purchase something like a product, a product for your dropshipping business to ship to the customer, you're gonna purchase that anyways. if you're gonna purchase it via debit card, then most debit cards are gonna have zero percent rewards. if they have rewards, then, um, i do. i didn't actually make a video on the top debit cards to use, which really maxes out at around 1.25. and then there are actually a few other debit cards i can show you that i use. these are the three rewards debit cards i use for my drop shipping business. this is the kryptocom card, this is the coinbase card and then we have the fold plus card. these are all rewards card, all earning crypto. now, if you're new to crypto or if you don't even know what crypto is, then that is completely fine. then ignore these three cards for my recommendations for debit cards for your business. so those are the debit cards that you should definitely use. now onto credit cards. now, before we go into credit cards, we need to determine what you're after. um, for most debit cards, they're gonna be usually cash back or some sort of reward to get you money back. now, that is fine for most people and this will actually what i use and recommend, but for some people that do want to travel, then feel free to look for a alternative. the cars that i am currently using are all cash back, and the reason why i chose cash back over something like points, rewards and travel is because cashback gives you directly money back. this is essentially getting you two percent or one percent back on your total cost. so let's say you spend a hundred thousand a year, which is relatively low- inside the drop shipping space especially, you know what you're doing. one percent of a hundred thousand is around a thousand dollars, right? so you're gonna get a thousand dollars extra in income per year just by using a um one percent credit card. and some of the one percent credit cards i could recommend you guys use is a, the apple card, which is only one percent. when you enter in the numbers, um, i can show you the back. there's actually no numbers. so, um, the apple car earns one percent back in terms of when you're using the apple car at checkout. now that this card does actually earn two percent when you use apple pay. but limited suppliers and vendors actually support apple pay. so for the most part, i'm actually usually only getting one percent via the apple card, which is not the greatest. but there's also other one percent cards, like the tomo card, which i did a review many, many months ago, which is a excellent, excellent credit card to start out with. if you have absolutely no credit, another good option is the discover it card. now, the discover 8 card actually is around 2 for the first year, but after that it is gonna be one percent, so we're gonna count this at as one percent. um for now. but, realistikally, if you're going to use this, use it for the first year, try and max out the credit every single time and get the double rewards from the discovery card. now, this card usually doesn't give you a big credit limit, which is a big problem when you're using personal cards with your drop shipping store. um, now, why would i not use business credit cards? the reason is, when your business is new and when you're especially very young and you are first exposed to credit, you're gonna have a hard time getting access to these credit cards. um, so the very first car that i ever got was the capital one, platinum. now, this card on um, on top of the fidelity card right here, is the very first card i got, and the reason is is because i got. i kept getting rejected for the discover it card. now this, this, this over it card i actually did not apply for. this is a card that i'm an author, a user of, to build with my credit history at the beginning. now i don't really mind if i'm added or not, but it did help in the beginning to get access to many other cards, like the tomokart apple card, and what actually is my go-to credit card now is actually the fidelity card. now, the reason why i use the fidelity card is a it's very, very simple to use two percent back cashback. two is because it can be directly deposited the cashback into a fidelity account like a roth ira. and now this is absolutely perfect, as when you're using this card for your business, um, you roughly need to spend around 300 000 per year to max out your raw fire rate just using the cash back with this card. so you kind of kill two birds with one stone: you fun, you have your business, running it funds your retirement for your personal self, which is absolutely amazing.


hey, what's up guys, Anton here from dropship lifestyle and I apologize, it's been a couple weeks since the last video was posted to this channel. that's because I've been kind of experimenting with audio a little bit and I'm actually trying to start a podcast. so if you want to check that out, go to Anton Crowley comm. but with that being said, videos will keep coming here, and today the reason I wanted to make one is to tok about this now, through the years at dropship lifestyle, like one of the biggest- I guess you can call it like- roadblocks in people's minds is: can I actually do this if I don't have credit? right, and maybe you screwed your credit, you know, and overspent and didn't pay your bills. maybe you are just young and you've never had a credit card. maybe you're older and you've never had a credit card and you know you're wondering, like: can I actually get into this industry if I don't have credit? now, listen, the answer is 100%. but with that being said, I want to like: take that a step back and don't. I don't want to say like, yes, you can still do it. I want to show you why and how. so let me change the color here. now, when you're applying with suppliers using the dropship lifestyle model. they're going to give you two options of how to pay. this will literally be on the dealer application form, and one of them will be credit terms and the other will be to prepay. and they might not be worded exactly this way, but that's what they're gonna offer you. now, with credit terms, that's typically when you hear things like net fifteen, net thirty, net sixty. what that means is that you'll have to pay your bill in either 15 days, 30 days, 60 days, whatever it is. you know it's different with everyone. now a lot of people think like, oh, that's cool, because I kind of free up cash and could pay later. well, while that's true, there's not many other benefits than that, and in fact, I'll show you why prepay is always better, even if you have, you know, 850 credit scores. so, right off the bat, you're not going to apply for credit terms when suppliers ask if you want to. and if you did want to, that's when you have to submit bank statements. you have to submit personal references, business references, your credit report, your DMV score if you've been in business for a long time. so it's a whole different process and it's typically because you know suppliers are putting a lot of- uh, I guess some- money on the line. they're extending credit to you, basically. but again, even if you have credit, you don't want to do that. you always want to go with this option. okay, you want to prepay for orders and what that means is that once an order gets placed on your website and you paste, place it with the supplier, they will not ship it until you pay them because your pre paying, you're paying them before they ship it. that just doesn't mean you're gonna have inventory. it doesn't mean you're laying out cash in advance. it means you're simply paying before they ship it, basically on demand. now, even with this option, there's a few sub options. if you want to call that, okay, you can pay with a credit card and in this scenario, the supplier will have your credit card on file and when you place an order, they'll just go ahead, charge it, ship it out. the next option- and this does vary from supplier, supplier, but it's pretty, you know, industry-wide, I would say- just a debit card, you know, any: Visa, Mastercard, Amex, whatever. you can also pay with PayPal to suppliers that accept that. some suppliers will even accept Dwolla and you can also send a check. now a lot of the old-school suppliers that are like these huge, established brands will want you to pay with cheque. I always try to avoid that because there's, honestly, there's just no upside in it, right? like what's the benefit of paying with a check? like you're not gonna get any rewards, it's gonna take longer, you're gonna have to write a check and mail it to them most of the time. so if they ask for that, don't do it. if they say they won't take a credit card or a debit card or PayPal, Dwolla is a good alternative because it's actually free. it doesn't call- well, now, it does think it's like 25 cents to send money. so that's like your second choice. PayPal I'm not a fan of- yes, we use it in our businesses. I'd rather not. so I'm gonna kind of tell you to stay away from that. and then that leaves you with two options. right, you could pay with a credit card and you can pay with a debit card. now, if you have credit, you want to pay with a credit card. right, if you do have it, this is a hundred percent. you know your first choice, right? this is. this is where you're gonna really like actually get a bonus advantage, an extra advantage of being in a high-tiket drop shipping business, because, with our credit cards, we spend insane amounts of money- like multiple six figures- a month- and the reason we do that is because we're processing a lot of orders. these orders are expensive, we're paying a lot of shipping costs, we're paying for ads, and we run all of those charges through credit cards. now, yes, that requires credit, but what it does is allow us to build so many points I I posted on Instagram a couple days ago like just which card I use and kind of what I recommend and how I'm able to travel for free. I'll link to that below this if you want to check that out, but if you don't, so this is always number one, right? this is always the number one option: pay with credit card. but this video is for people that probably don't have credit right now. so what do you do? my advice is: one hundred percent, pay with a debit card and, as you start to build up some, some savings, if you don't have any yet, get yourself a secured credit card. now. the secured credit cards aren't gonna give you many rewards. basically, the way they work is you have to give the bank money, because it's kind of like they have, like a liquor reserve, it's almost like they all. it is like I have a CD, a certificate of deposit, to hold money. so start your business by using debit cards or paying with Dwolla. then, as you start to make money from your drop shipping business, contact a bank, but I'm not sure. I think Capital One has a good program for it. but get yourself basically like a secured credit card. so in an example, you can give them maybe five K and the bank- Capital One in this case- will take $5,000 and they'll put it into an investment, into your certificate of deposit. has super low interest, but that means you could start using a credit card for up to five thousand dollars. max that thing out every day, pay it off every single night and what's gonna happen is your credit score is gonna go up and up and up very, very quickly, because, again, this isn't like a normal person spending money- right, this is a business owner spending money. so you're gonna max it out, you're gonna pay it off over and, over and over and in a very short amount of time you're gonna see your credit score go through the roof and as soon as that happens, then you're gonna apply for one of these rewards cards, then you're going to have credit. then you're going to be able to get these amazing bonuses like traveling literally around the world for free, getting cash back if you want that, just getting points to spend on whatever it is you want, but eventually you'll get there. but again, if you're not there yet, if you're new and you don't have money and you don't have credit, pay with debit card, pay with Dwolla, get some cash out of your business, get a secured credit card and, as your credit goes up, then go ahead and actually start getting that extra bonus of dropshipping, which is those points. but again, if you're not there yet, you don't have credit, you're blowing money. don't worry, you could still definitely get started and is only gonna help to increase your credit. so that's my advice. hope you found that helpful. I'm gonna send this video to everyone that emails it now and ask about credit. so any questions, guys, go ahead and post them below. if you got value, definitely give this video a thumbs up or a like and let me know in the comments. if you didn't, you can g.

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all right, this video is gonna be all about credit cards and drop shipping. we're gonna tok about why even a think you need a credit card in the first place, how I use the credit cards that I have, why I have the cards that I have and why I believe that it set up. I'm going with this kind of be ideal setup. I'm gonna tell you how I fly for free pretty much everywhere that I go. then I'm gonna tok about how I actually got to this point when I had zero credit history, because when I was first starting out, I pretty much had zero credit history and it can be tough to get credit cards. and I kind of want to tell you about what I did and kind of give you some tips and advice if you're young and in that same situation I was. and then, finally, some what related to credit cards. I'm gonna tell you about an accounting mistake that I made who, kind of, with different accounts and different credit cards I was using, that ended up costing me over three thousand dollars. I think this is probably gonna be one of my most informative and practikal videos yet. by no means- and I am expert on credit or anything of the like, but you know I'm not really trying to sell you a credit course. I'm kind of sketched out by a lot of these guys that I see branding themselves as, like credit guys. they seem a little bit sketchy. so I just want to give you my take and tell you what I've done and kind of give you some recommendations based off my experience so you can go out and amend this stuff for yourself, all right. first off, why do you even need credit cards when you're drop shipping? so I will say you don't like need them. they're not a hundred and ten percent necessary, but in my opinion it's really the best way to be doing things and it's kind of dumb not to be using the way I say. there's really two main reasons to be using credit cards when you're drop shipping. the first reason is a business reason and the reason to use credit cards is because they can help alleviate short-term cash flow issues. when you're drop shipping, you're receiving payments from shop, flight payments and PayPal, for example. those payments don't tend to hit immediately right when you get them. they tend to take at least one business day and sometimes they can take longer, especially if you're in a position where you have a hold on your account. obviously, that can present some problems when you're trying to scale. if the money's not hitting your account soon enough then you're not going to be able to have it to be able to spend on Facebook ads. so credit cards really useful there because you don't have to pay them off right away. you don't to put the money up upfront. you have, like you know, 30 days a month or so, whatever, to pay it off. it's really helpful for that. the second reason, and the more kind of like lifestyle reason, is it's basically just free money when you use them right. as I mentioned, I get to fly for free pretty much everywhere I go and that's the result of using these credit cards. you don't really care about traveling. then this reason probably doesn't matter to you. it's really only relevant- my opinion kind of- for the lifestyle aspect, for traveling. but if you like traveling, then you definitely want to be using credit cards in your dropship, alright, so I'm gonna tell you which credit cards I specifically have here in a second, but first I want to tell you about how I use them. pretty simple here. I mean, basically I use my credit cards for just about any expenses that I can. I have a couple different business and really I use these cards for just about everything: ad spend, cost of goods, sold, software, pretty much anything that I'm paying for. I'm putting on these credit cards whenever possible. I paid them off in full multiple times a month just to make sure that doesn't affect my credit. I don't get interested, I don't get charged extra, anything like that, and that is pretty much how I use. so which credit cards do I have and why do I think it's the ideal set? all right. so I've kind of in some funny and I have like blanked out the private information on my cards cuz I don't really like my private information being shown on YouTube. but these are the three main business credit cards I have. I have the Amex business gold, I have the Amex platinum and I'd be Amex business gold. rewards not shown in this is my personal credit card, which is kind of beside the point because I don't use that for anything business-related. that's literally just what I use for my own personal expenses. these are the three main cards that I use. so, as you'll notike, all three of these credit cards are American Express and there's a good reason for that. there's a couple good reasons, actually. the first reason I use American Express is because it was the first one to approve me- pretty obvious reason, kind of surprising, honestly. the second reason Amex is really great is because they do not have hard limits. most credit cards they will have a hard limit- say, you know, $10,000, $20,000. they have a hard limit where once you reach that amount and spend, you cannot spend any more before you pay that back. with Amex it's a little bit different. basically, based on their algorithms kind of how I understand it, they have, you know, different algorithms, stuff that keep track of how you spend and how you pay it back and everything like that, and then, based on that, the limit changes and it will go up over time as you kind of pay more off, as you spend more money, as you pay it off quicker, etc. etc. that I think is one of the biggest benefits of American Express cards because, especially when you're trying to scale, if you have to call the bank and try to get them to raise your limits- which you know- that in itself isn't that big of a hassle, but if they deny you, if they won't let you raise your limit, then you might be out of luck. now I want to make it clear that it's not like unlimited. it's people I see people say like they're, you know, No Limit core. that's not the case. there's always a limit that just will say that. can I say that? dumb, very dumb. that's the second reason I use Amex. I think the third reason is probably their point system. their point system is really really solid. we're gonna go over that here. in a second I'm gonna explain to you exactly kind of how the point system works and why I use this one as opposed to other cards. Amex, and specifically the business gold card, get some really really, really good rewards back on ad spend. so that's mainly what I use it for. that's my biggest expense, so that's really really solved. that's another great reason I use these cards. and then a fourth reason I use Amex is their customer service is honestly just fantastik. any time you have an issue, anytime you call them, they're always super, super helpful. I love their customer service. it's come in handy multiple, multiple times. so that is another reason why evx alright. so now I want to break down kind of why I use different cars, because there's different benefits to each one, and I'm going to tell you why I use each one, for which type of thing and how I kind of maximize the points that I get by doing so. this card right here. this is actually the first American Express credit card that I got. this is the American Express business platinum card. the main reason I use this card isn't really for the points aspect. in fact, the the points on this card are not even that great in my opinion. I think I get like maybe 1.5 x points back or something like that. this is not the card that I use for ads, but in fact I rarely even use this card for very many things at all. instead, the main reason I have this card is because of the perks that brings, and really the main perks are gonna be access to airport lounges and things like that, and really I would categorize the Platinum Card is kind of the travel card. this is what I use when I'm traveling. it's kind of how I booked my flights. generally speaking, the customer service through that card is gonna be a little bit better than the gold, because I get to, you know, one tier up from the gold card. it's been reall.

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The Best Credit Cards For Shopify Dropshipping & E commerce

so these are the credit cards and charge cards that i'm personally using myself for my e-commerce and drop shipping businesses. hey guys, welcome to the e-commerce mentoring channel. my name is camilla sattar and in today's video, i'm gonna be showing you guys exactly which credit cards and charge cards i'm personally using in my everyday life of running my e-commerce and drop shipping businesses, and you can see some of them right here, and i'm going to be going over every single one of them in today's video in terms of how i strategically use them to maximize the rewards and to basically get rid of any risk involved with any parts of my e-commerce journey. now, if you're currently not using a credit card or charge card for your business, you are missing out on number one, preventing yourself from any risk involved, because with credit cards and charge cards, you get- you do get- purchase protection. number two, you're missing out on lots of rewards. and, number three, you're missing out on cash flow management, which are the main three things that you want to make sure you're doing in your business. so what i'm going to be doing in today's video is i'm going to be showing you the two different credit cards and charge cards that i use and showing you in a third additional card, for those are lucky enough to be in the us, and i'm going to be comparing them and showing you which ones are used at certain times of my business. now, if you're new to the e-commerce mentoring channel, make sure you smash the like button and you hit the subscribe and you turn all notifications on. now, ecommerce mentoring is an online teaching program where we do one-to-one training with e-commerce and dropshipping business owners. now, if you want to book a free call with one of the mentors to see if you're a good fit for the mentorship program, make sure you click the link in the description below: [Music]. so the first credit card i actually use for my company is called capital on tap. now, something i do want to say quickly, though, is all the cards i'm toking about in today's video are business cards, not personal, and i recommend that anybody that's involved with e-commerce or dropshipping has business cards, not personal cards, because they have better benefits, less risk involved and more cash flow that you can use within them, and you always want to be separating your business costs to your personal costs when it comes to doing your taxes and your expenses. it just makes life a lot more easier. so if you haven't already, make sure you either go and set up an ltt or an llc, because these are all business cards now. the first one, like i said, was capsule on top, and this is actually an underrated card, and this is actually currently in these three different countries right here: the uk, spain and the us. so these are the three countries that you can actually have this uh credit card in the business credit card. now you've got something called a credit card and you've got something called a charge card. now this is a business credit card. now what a credit card is? for example, here you can access up to 1 000 to 5- 50 000- sorry, uh dollars, uh- per per credit card. so that's your allowance. if you get given 20 000 on that card, that is all you can use within that billing period. so do bear that in mind. now, with a charge card, it tiknically has an unlimited spend and it's based on your purchasing power. so you don't really have a credit limit. you have basically purchase and power. so let's say, your purchasing power is 10 000 per transaction. that means you can transact 10 000 per transaction and the more you spend, the more you pay back with a charge card, the more you can have, and charge cards are tiknically better because you tiknically have more to spend, but it takes longer to build that up. now, with capital on tap, the maximum you can get is 50 000. sometimes it'll give you more, but that's all on, basically your, your standards and stuff like that, but then the max normally is around about 50 000 per billing period. now i currently use this credit card for purely um, basically, if i can't use the other card that we're toking about today, i use this one, and because american express you can't always use it, so i always use capital on top as an alternative if i can't use it, and i like to basically mix the cash flow spend across these two different cards. now, something that i do want to quickly say is i've got a link to all the different credit cards i'm toking about today in the description, and if you use my link, you will get a sign up bonus or you will get extra points on your card. so please take advantage of that, because you're missing out on completely free money. so for, for example, here you've got two different credit cards, you've got the regular awards and you've got the founder awards. now this one is the one that i'm personally going to be toking about today, because this is the founder. this is basically you using the card, so what you're going to be able to get is two percent cash back for every one dollar spent. now you gotta remember when you're spending on facebook ads, guys, do the math how much money you can potentially make off doing this. and that's the thing, guys. you always wanna make sure that you're maximizing your spend and you're getting what you need. so, again, like i said, you get two percent cash back on all your card spend- it doesn't matter what it is, it's on every transaction. you get an additional 199 dollars when you spend 15 000 in your first three months, which isn't bad. um, and this is something else i want to tok about, guys, you only want to be using credit cards that you know you're going to get the bonus for now, because this is a free card, you don't actually have to pay for it. there's no actual annual fee, which is amazing. so do bear that in mind. there's zero annual fee. then you don't need to worry about this. if you can do it, you can do it. that's amazing. but some of the other credit cards- you- there is an annual fee. if you don't hit it, then sometimes these bonuses do not make any sense. so, as you guys can see, it says the limits range from one thousand to fifty thousand. you've got no fx fees. you've got no atm charges, which is absolutely amazing. you can go up to 20 cards for employees or yourself and you've got spending management tools for yourself and your employees and there's no interest occurred on the card if you pay your balance off in full every single month. now if you don't, you do a minimum spend or a minimum payment, you're going to incur interest. but what i will say about capital on top is they have the, in my opinion, one of the best lowest interest rates out there, and a lot of people shy away from interest and stuff like that. but if you know anything about business, that if you do occur any interest it's actually taxable, which is good sometimes. so it's- and this is the thing with credit cards- you've got to really know how to use them in a very effective way, because there's been times where i don't pay the card often for because, in my opinion, i'd rather use that cash flow somewhere else, but i might have to pay an extra 200 at the end of the month in fees, but that's taxable. i can take off my tax, so it tiknically doesn't really matter. but again, that's a little bit more tiknical. but what i'm trying to say is, with credit cards, you've got to really know the ins and outs of how to manage them and use them effectively, because in the wrong hands they can be quite dangerous. and none of this is financial advice. this is just personally how i'm using every single one of the cards that i'm showing you today. now you can actually get, you can actually get a decision made quite quickly with them, with a capsule on tap that let you know within within 24 to 48 hours. and if you go down here, you've got the key benefits right here, which is really really good. you can see here the interest rates from nine to 34 and you can make your monthly payment up to 15 business days of the billing period. so you get in. my opinion i get around about- i think it's aroun.

Top 10 BEST Credit Cards To Always Use (Shopify Drop-shipping)

your guys. what's up, welcome back to another video, and this video is actually gonna be essential for anybody that's in the e-commerce, online business space, no matter what it is you're doing online, if you're spending money on ads, if you're spending money on products and tiknology and services and software. this video is absolutely essential because I'm gonna literally teach you guys how to get credit card companies to pay you and how to get like free money from all these credit card companies, which you can do whatever you want. you could turn them into cash. you could literally redeem them and earn like 50% bonus points on traveling the whole world. you could travel the world for free, like upgrade to first class for free. you could stay in airport lounges, like with all the rich business people for free. so it's like there's a lot of benefits to credit cards in this video as a long-overdue, so I'm really excited to make it so. essentially, the order of the video is going to be me going over why credit cards are important and why you should absolutely use them right now, and then I'm going to go through a bunch of different cards- like 8 to 10 different cards- and their benefits, and then I'm gonna be going through the order that you should get these cards even if you have bad credit or no credit all the way to, if you have good credit and if you're looking to get cards in order for business and points and advertising and spending like that, or if you're just looking to get cards to travel the world and get benefits like that. and just to show you guys that I actually have a little bit of experience when it comes to credit cards, here's a stack of the credit cards I have currently. all of them are still active and this is about like 14 or 15 cards, not to mention the cards that I've recently shut down and thrown away. yeah, I've had about 20 credit cards that I'm only 21 years old. so there you go. on Amex, we've gotten like 399 thousand points, and that's not even updated, because we just paid the last month's credit card bill for the Amex, which is like the personal expenses and all that stuff, and that was like ten and a half thousand dollars. so that's gonna add a bunch of points. and then, as you can see, chase, we have two hundred and thirty six and a half thousand ish points right there, and that's because recently I switched over from Wells Fargo to chase. I don't have a screenshot of Wells Fargo, because I used to bank with Wells Fargo and do all my business with Wells Fargo. for like the first two years I did everything. I had about three hundred and twenty five thousand points stored up in Wells Fargo and I just wanted to show you guys that I have actually have accumulated a lot of points and these points, if I were to cash out right now, would be worth about ten thousand dollars or more, and that's not even mentioning the first year I spent without a credit card or all the purchases I've done with debit cards I could have done on credit card. this information is as up-to-date as possible. I literally even called American Express to get like the most up-to-date information. hi, I just wanted to confirm that on the card you get Forex points on the top two categories every single month, so only four. card you get the bonus for advertising. okay, all right, thank you so much. let's start with number one. the first reason is cash flow, or we pay for something on a credit card. you- it's not coming directly out of your bank, right, and you're basically agreeing that you will pay off this card over time, or at the end of the month or whenever, but you're saying, okay, I'm not going to buy this with my own money, I'm going to buy it with a credit card. and then at the end of the month, I'm gonna have to make a minimum payment on that credit card. and the reason that this is good for online businesses? because of cash flow. so, for example, if you're running a drop shipping store and you're, you know, working with the budget and you're using a debit card, every single time Facebook bills you, it's going to pull directly out of your account. and what if you need to fulfill orders? or what if you need to pay for a Shopify charge? or what if you need to send a product back to a customer or something? some random charge comes up, but Facebook is continuously billing you? or if it's a rough time and the ads are not doing well, that could cut in to you and you could have to transfer more money into that account or, you know, you could even run negative. so what? the good thing about a credit card is? you could put a lot of these expenses on a credit card and it basically helps out your cash flow a lot, especially when you're doing like hire, like five to ten or fifteen K days or whatever. Facebook will consistently bill you like nine hundred dollars every few hours or whatever, however much you're spending. and then you know, once you get your shopify payouts, you can just pay that entire balance, and that's another thing. so I'm assuming that most people are gonna use, you know, Shopify payouts for their online business or they're gonna use PayPal. the thing is, merchants companies are gonna take a few days to pay you out. pretty much top-of-the-line merchants will pay you out the next day, but that doesn't even include weekends and you'll still be running ads on the weekends. so let's say you're spending like three K a day on ads. you know, even over the weekend you're gonna get billed six thousand dollars and if you're using a debit card, that's gonna all come out of your account and you might not get a payout until Monday. so another thing is, if you get a PayPal hole, imagine you get a rolling hold and like 25 percent of all your revenue gets trapped in PayPal and you know you, there's plenty ways to deal with that and fight that. but if you're not using a credit card, that could slowly start to kill your bank account balance because a lot of your money is getting held. but at least, if you have a credit card and you can put the ad spend and you know the charges from Shopify all on a credit card, you have more time to fight this and you have at least until the end of the month to make a payment or to continue making payments. you have a longer time to make payments while you deal with that PayPal hold or stripe hold or Amazon hold or whatever you get held on. having a credit card literally just gives you a cushion that also makes cash flow a lot easier and pays you all at the same time. now moving on to the second point I have is points and bonuses. credit cards will give you a bonus if you spend a certain amount of money on their credit card in like the first three to five months, and you'll see all that in a second. here, and for people with online businesses, this is super easy because we can easily easily spend a ton of money very fast. you know it's not like it's not like we're living lavishly or something. we're running a business and that's a lot of money is going to be flowing through the business. so the next thing on the list is: you're building credit this entire time, so you're setting yourself up for the future, because you're, you know, essentially building good credit, you're having good history and, just in the future, if you want to buy a house, also for, like, when you're buying cars, and, you know, if you want to buy a Lambo, you know, with all this econ money that you guys are gonna make, it's important to use credit cards because you can, you know, get a better credit score and not end up paying so much money on your Lambo. so come on, guys, like it's a no brainer, come on. and then, finally, the last point is you could literally treat this as more profit towards your store. so, for example, if you have a credit card that rewards you for exon advertising, which is one of the ones I will mention in this video, and you spend a hundred and fifty thousand dollars, that's 600 thousand points, which is equal to six thousand dollars. so if you spend one hundred fifty thousand dollars on your business to run it, you will literally get back six thousand dollars in pure profit that you can equat.

Top Credit Cards to use for Dropshipping! (Plus Rewards)

today we're going over the top eight credit cards for drop shipping on ebay and facebook marketplace. that will really rack up a ton of points for you really fast. [Music]. as drop shippers, we move a lot of products for our customers, so we need a credit card that we could put a lot of money through and that will also give us a ton of cash backer points. so in this video, i'm going to show you and break down for you the best credit cards that you can use as a drop shipper. we're gonna go from a complete beginner with very little credit history all the way up to the most advanced best cards that you can get, including a brand new one that i'm really excited about. now. let's say you're brand new to drop shipping and you actually have never owned a credit card in the past, or you don't have a great credit score, for whatever reason. it's going to be really tough for you to get approved for a credit card that you can use to run your business, and that's where secured credit cards come in. this is a very good solution for anyone like that, who is brand new to credit or doesn't have good credit. this is how a secured credit card works. you will get a real credit card and usually they have no annual fee. but these are called secured credit cards, and that's because they are secured by a refundable security deposit. so in other words, you might put 500 down and that is your credit line. you get 500 that you can spend on that card. once that card is closed or is upgraded to an unsecured card, then you'll get your deposit of 500 back. it's designed specifically to help people build up their credit, so if you don't have much, this is the perfect avenue for you. now there are two that i'm going to recommend today. the first one is this one right here, the discover it secured credit card, and the cool thing about this is that, while most secured credit cards don't give you any sort of cash back or points or anything like that, this one actually does. it has no annual fee and the credit score that you need is very, very low. something like 99 of people are approved for this, and if you come down here to the points, you can get two percent cash back at gas stations and restaurants, which we don't really care about, but you get one percent cash back on everything else. plus, for the first year, you get cash back match, which is an unlimited dollar for dollar match. so it's basically like you're getting two percent cash back for the first year. so this is a very easy card to get approved for and you get awesome points with it. now the second secured card i want to tok about is actually the first credit card i ever had from my business, because i didn't have a lot of credit history when i got started and i wasn't getting approved for the cards that i wanted to. so i got this, a wells fargo business secured credit card. it is very similar to the other option: it's free and you get 1.5 cash back instead of the 2, but it's 1.5 forever unlimited. but the benefit of this one is that it's a business card. so the discover it card is a personal card, meaning it will be under your personal name. but if you're running your business as an llc and you want an actual business credit card, then this is the one that you want to go with the wells fargo business secured credit card. so if you have the collateral that you can put up for these cards and you're looking to build credit, these are excellent options for doing that. now, once you have some credit and you're ready to upgrade to the next level. i have some great cards available for you as well. the first one is the discover it unsecured credit card and basically, if you have the secured version of this, as soon as they see that you are credit worthy, they will automatikally- they should automatikally- update you to the unsecured version, which is this right here, or you can apply directly for it, and it's very, very similar. there's no annual fee for this one. you get the one percent cashback plus the unlimited cashback match for the first year, so it's effectively like you're getting two percent back. it's a really solid card. it's not too hard to get approved for it, so it's really good for beginners. the problem with this one is that after the first year, you're only getting that one percent cash back, which is really not ideal when it's literally half of what you can get with another card, such as the city double card. the city double card gives you two percent cashback on all of your purchases, no limit on that at all. it is slightly more difficult to get approved for it, but if you can get it, it is a much better choice than the discover it card, because it's literally double the cashback forever instead of just the first year. now there are some problems with these cards again. the big one is that these are personal cards. so if you have a business like an llc, you can't use these that way. you need a business card. but if you're running your business as an individual, then sure, get the city double card. it's a great car for you to get, although i would recommend that eventually you actually form an llc and get a business card. the other problem with these cards is that some of them like to discover it actually will give you more cash back, like five percent cash back in different places like amazoncom. but these are rotating categories, so it might give you five percent cash back at amazon for only three or four months of the year and they cap the amount of cash back that you can get. so wouldn't it be really really nice if you can get cash back, five percent cash back on amazon all year long? and that brings us to the amazon prime rewards credit card. this prime credit card gives you five percent back on amazon, unlimited, all year long. it is a fabulous card if you are drop shipping from amazon, because there's just no other way to get this much cash back consistently when buying from amazon. there are also some other perks, like gas station two percent back, one percent for other purchases, but really what we're looking at here is the five percent cash back at amazon, in addition to the fact that there is no credit card fee for this at all. this is a no-brainer. if you are drop shipping from amazon, you need this credit card, and if you are drop shipping from walmart, then they have one as well. this is the capital one walmart rewards card that also gives you five percent back for all of your purchases, unlimited on walmartcom, and you don't even need a walmart plus account for this and no annual fee for this one. so, again, if you are drop shipping from walmart, this one is a no-brainer. the problem with these cards is that this one, the walmart card, you need good to excellent credit, and the bigger problem is that these cards they tend not to give us really high limits for them, so it's hard to put a lot of money through these cards because they're just not giving us enough credit line on these cards, and that's why we need to really bring things to the next level. this is the capital one spark two percent cash plus card. this is a new card that i just found out about. i have the older version of this, but this one is so much better and is just insane. so the card that i have has an annual fee of 95 and gives me two percent cash back, flat, unlimited, on all purchases anywhere for an all-around card. it is amazing. it is perfect for me. but this one- their new one- has some additional benefits that i absolutely love. first, you're still getting the two percent unlimited cash back on every single purchase, no limits, no category restrictions or anything like that. but you're also getting a 1 000 cash bonus, or at least a possibility of getting that. you'll get 500 when you spend five grand in your first three months, which is definitely doable as a drop shipper, and another 500 if you spend 50 grand in the first six months, which is a lot of money to be putting through your credit card, but for a lot of high level drop shippers that is totally, totally doable. now the annual fee for this one has gone up. it's now 150 dollars, but you can get a 200 annual credit if you.