I love credit cards so much!

[Alexle2007]

Question SW experts! I met my $3k minimum spend on my SW biz card in the first month, with a tuition bill putting me over the top in the last few days before my statement closed. To be more specific, the charge was made on 1/7, was processing for two days, and then my statement closed on 1/9. The charge is definitely on my statement, and I've made the min. spend. This is also taking into account the annual fee (total stmt balance was $3,130, AF is $99). However, only the 3k points have been posted to my RR account, not the 60k bonus. I also have a previous SM from Chase verifying that I qualify for the 60k points and the date I need to meet the spend by. Any ideas as to why I didn't receive the 60k points? I was thinking I'd SM Chase and ask, any reason not to? I'm hoping to book some flights soon with the points. Thanks!

Did you look at your actual Chase statement to see if they posted on there? For my Plus and Premier, I can see on the statement that I should be receiving them.

 

[SBWB48]

Question SW experts! I met my $3k minimum spend on my SW biz card in the first month, with a tuition bill putting me over the top in the last few days before my statement closed. To be more specific, the charge was made on 1/7, was processing for two days, and then my statement closed on 1/9. The charge is definitely on my statement, and I've made the min. spend. This is also taking into account the annual fee (total stmt balance was $3,130, AF is $99). However, only the 3k points have been posted to my RR account, not the 60k bonus. I also have a previous SM from Chase verifying that I qualify for the 60k points and the date I need to meet the spend by. Any ideas as to why I didn't receive the 60k points? I was thinking I'd SM Chase and ask, any reason not to? I'm hoping to book some flights soon with the points. Thanks!

You typically need to meet the spend about a week before the statement closes to have the bonus credit on the same statement. Unfortunately your 60k points are likely going to wait a month now. Sorry to be the bearer of bad news

It's frustrating, but with the SW Biz cards, you have to meet the spend well over a week, especially given how Chase handles pending charges and posting them. When we went for CP, a charge on the biz card nearly a week out didn't even make the cut while a charge on the personal Plus just 3 days prior to closing made the cut. No rhyme or reason other than the same rule that applies for all min spend...don't cut it close and make sure you meet the spend well in advance lol. In this case, it's the extreme

 

[mistyinca]

Yes.

Top tip: since Disney Resort hotel bills code as travel anything you can charge to your room will code as travel. This is nice because merchandise (and some food stands I think) code as merchandise so charging them to the room means I get them coded as travel and get 3% back on my CSR instead of the 1% they would code at if I had paid the shops direct in the park.

Great tip! Thank you!

 

[DisneyMandC]

Thanks for doing that survey, @SouthFayetteFan ! I know I marked down for using one of the outside referrals. I had a friend post on FB that she had gotten CSP and to contact her if anyone wanted a referral link. I knew enough about CSP to know I was interested and used her link, and that was before I had really gotten into this board. DH and I have been trying to look at when some of our major purchases will take place this year in order to pick out a good time for him to get CIP, and I'll use another referral off Reddit when we do

 

[trenty]

Question for those of you applying for business cards. Maybe I am overthinking this, but if an individual has a "business" credit card linked to a SS number, wouldn't the IRS want that income reported? I would be worried about an audit of my personal taxes and the business card somehow linking to that....

(Not judging those of you who have successfully obtained a business card. Just trying to think this all through in case I go that route.)

 

[Psychodisney]

Also on the topic of business cards, does anyone have more than one Chase business card for the same business? I'd like to try for the CIP again (was denied last year...still insulted on that) but I also will want to go for SW CP in 2019. I'm 4/24 in February and will be down to 2/24 in October. I know I need to be under 5/24 to apply for a Chase business card. I'm also under the impression that if approved, the business card doesn't count towards x/24, correct?

 

[jhoannam]

Question for those of you applying for business cards. Maybe I am overthinking this, but if an individual has a "business" credit card linked to a SS number, wouldn't the IRS want that income reported? I would be worried about an audit of my personal taxes and the business card somehow linking to that....

(Not judging those of you who have successfully obtained a business card. Just trying to think this all through in case I go that route.)

I don't think credit card companies report that information to the IRS, it's not their responsibility.

 

[amalone1013]

Last night at dinner DH was talking about how his friend is going to be in these races in Vegas, and how he wants DH to come. This is something DH would really be into. But DH is saying, I can't do tbat because I'd have to take days off work and I don't have PTO time (true) so I could drive there , and I don't even know if I'd get there in time to see anything on Friday. I told him why don't you fly? It's expensive. I was like, we have points!!

 

[trenty]

I don't think credit card companies report that information to the IRS, it's not their responsibility.

But...if you are providing a SS# can't the IRS find it?

 

[miztressuz]

But...if you are providing a SS# can't the IRS find it?

Just using your SSN doesn't immediately report back to SSA or IRS or anywhere that it was used. My college used to use everyone's SSN as their student ID Pretty sure the government doesn't know what my GPA was or my tuition bill.

As long as you are paying your taxes and reporting income, and it matches what does actually get sent to the IRS (or more), then they seem to be content.

 

[wendow]

Also on the topic of business cards, does anyone have more than one Chase business card for the same business? I'd like to try for the CIP again (was denied last year...still insulted on that) but I also will want to go for SW CP in 2019. I'm 4/24 in February and will be down to 2/24 in October. I know I need to be under 5/24 to apply for a Chase business card. I'm also under the impression that if approved, the business card doesn't count towards x/24, correct?

I'm pretty sure you can. Just like you can hold multiple personal cards for your same personal spending. I have the CIP and will be going for the Marriott biz *hopefully* this year using my same 'business'.

You are correct! The Chase biz cards do not count against your 5/24 but you must be under 5/24 to be approved.

 

[jhoannam]

But...if you are providing a SS# can't the IRS find it?

Nope, they only reported what they are required to report. It is the business's responsibility to report their revenue to the IRS.

 

[Lain]

Question for those of you applying for business cards. Maybe I am overthinking this, but if an individual has a "business" credit card linked to a SS number, wouldn't the IRS want that income reported? I would be worried about an audit of my personal taxes and the business card somehow linking to that....

(Not judging those of you who have successfully obtained a business card. Just trying to think this all through in case I go that route.)

But...if you are providing a SS# can't the IRS find it?

Do not take the following as legal advice.

Credit card issuers do not report personal or business credit card accounts -- and certainly not the information you provide on an application for them -- to the IRS.

I would like to think that if you're applying for a business credit card for a "business" to get the points, and you're financially responsible enough to pay your credit card bills on time (because not doing so means paying interest that negates bonuses), then you're also paying the taxes you owe when you owe them.

In the event of an audit, they could conceivably obtain your credit report, and request production of documents for all your bank and credit accounts to see if you're hiding any taxable income from the government. Since your concern is most churners are applying as a sole proprietor, the question is whether there's other business income that's not being reported as personal income. The IRS gets this information independently from a number of sources, like 1099-MISC and 1099-K forms, and can compare that with your returns. When they actually examine your statements, hopefully you didn't not report any large payments that would've already been reported to the IRS, and what they'll likely find is you're paying your business card with personal assets, and worst case scenario you're using a business card for personal expenses.

 

[gottalovepluto]

But...if you are providing a SS# can't the IRS find it?

The IRS doesn't give one whit* about your business credit card apps & here's 1 reason why: Told the bank you make 1K in revenue? Fine. After expenses your business could be 10K in the red on your taxes. No income to report there. *Unless you're hiding something from the IRS and that would be bad

Practically for you even a full IRS audit won't come across your business credit card application where you told the bank what you made. Now, if you actually make a lot of money you'll have to report & need a tax advisor. If you are like most with a "business" there just aren't tax consequences to opening a biz credit card. The IRS is going to fine you for not making money and for not reporting the money you never made? That's not a thing.

-If you're too uncomfortable about the IRS & business credit cards just skip the biz cards. There's nothing wrong with that & your peace of mind isn't worth a credit card bonus!

-The IRS doesn't have access to a document just because you put your SS# on it. There isn't some cloud database out there where all docs with SS#s are stored where the IRS just takes what they want without a warrant.

 

[Albort]

Question for those of you applying for business cards. Maybe I am overthinking this, but if an individual has a "business" credit card linked to a SS number, wouldn't the IRS want that income reported? I would be worried about an audit of my personal taxes and the business card somehow linking to that....

(Not judging those of you who have successfully obtained a business card. Just trying to think this all through in case I go that route.)

im not too sure where your asking here. when you apply for a business card, u report your business income to the card issuer. This is something you should be truthful. heck, people here report $200 income and still got a card.
Then it comes to using your business card, that shouldnt be considered an "income." its more of an "expense." so i dont think the IRS would want to see your expense unless you are claiming deductable from the business credit cards. Even so, that comes in the form of a receipt instead of your credit card statement.

 

[CyndiLouWho]

Question for those of you applying for business cards. Maybe I am overthinking this, but if an individual has a "business" credit card linked to a SS number, wouldn't the IRS want that income reported? I would be worried about an audit of my personal taxes and the business card somehow linking to that....

(Not judging those of you who have successfully obtained a business card. Just trying to think this all through in case I go that route.)

My business is reported on my personal taxes (rental house) but I don't think CC companies report that a person has a business to IRS. They would report income, but CC points aren't income.

 

[Albort]

https://www.reddit.com/r/churning/comments/7q4fwi/churning_for_disney_walt_disney_world_megathread/

heh, our thread is mentioned in this... :O

 

[pillow]

im not too sure where your asking here. when you apply for a business card, u report your business income to the card issuer. This is something you should be truthful. heck, people here report $200 income and still got a card.
Then it comes to using your business card, that shouldnt be considered an "income." its more of an "expense." so i dont think the IRS would want to see your expense unless you are claiming deductable from the business credit cards. Even so, that comes in the form of a receipt instead of your credit card statement.

I think the only relevance credit card charges would have in case of an audit would be when there are very large charges that aren't supported by reported income. In other words, a mismatch in spend versus income reported. This would be a red flag to the IRS that there may be unreported income. This is not really what the PP was asking though and wouldn't come into play unless audited.

 

[SouthFayetteFan]

https://www.reddit.com/r/churning/comments/7q4fwi/churning_for_disney_walt_disney_world_megathread/

heh, our thread is mentioned in this... :O

I've had some discussion with u/nuhertz on reddit. Interestingly enough, he is not active on the DISboards. That post is great though!

 

[Albort]

I've had some discussion with u/nuhertz on reddit. Interestingly enough, he is not active on the DISboards. That post is great though!

good stuff, was thinking about posting our chat on using disney D on UR since i think thats a pretty big revolution. but i dont think thats my power to do so haha.
i think they they should link it to the actual disney gift card thread though, not here.