travel – The Easy Entrepreneur

One thing I like as much as traveling is getting a good deal. There are some great credit cards out there for business owners, and the Chase Sapphire Reserve and Chase Ink Business are my two favorites.

I have earned thousands of dollars of free travel through this combo, and taken free flights around the world!

I have also upgraded my travel experience with free TSA Pre, free Global Entry, free lounge access, and free restaurants at many airports.

Chase Sapphire Reserve

The Chase Sapphire Reserve has become my go-to credit card. Here are some of my favorite perks:

50,000 point bonus for signup. These are worth $750 in free travel! While the points can be redeemed for cash at a rate of $1 per 100 points, they can also be redeemed for travel at a rate of $1.50 per 100 points. You can also redeem points at a 1-1 rate for miles/points with different airlines and hotels, including Southwest, United, Jet Blue, Marriott, and Hyatt.
Free TSA Pre and free Global Entry ($100 value). This makes getting through the airport so much quicker, and I don’t need to get there as early.
Free Priority Pass lounge access, for you and up to two guests. This makes the whole flying experience so much better, as you get to wait in a quiet and calm place. They also have free food and free drinks, and I’ve had many meals courtesy of the lounges. While the quality varies in the US, there are some truly amazing international lounges.
Free airport restaurants, with up to $56 off the bill for you and a guest, at select restaurants through the Priority Pass program.
Earn 4.5% back on restaurants and travel, when you spend it on redeeming travel. This is because you earn 3 points per dollar in those categories, and can redeem the points for travel at 1.5x. You can’t beat that!
Earn 1.5% back on everything else. You earn 1 point per dollar, but these are redeemable at 1.5x on travel.

At the time of this writing, the Chase Sapphire Reserve comes with a hefty $450 annual fee, but it also comes with a $300 annual travel credit (which is automatically taken off your bill) so it’s really only $150. Unfortunately the annual fee on personal cards is not tax-deductible, or you’d get the $150 back off your taxes. However, it’s a no-brainer to pay $150 for $750 in free travel the first year, and you’ll make it back in earnings and lounge access other years.

Chase Ink Business Preferred

I like the Chase Ink Business Preferred because of its sign-on bonus and it’s earnings in several categories.

When linked with a Chase Sapphire Reserve, this card is even more valuable – because the Ink redeems points at a rate of 1.25% when spent on travel, but you can transfer the points to your Sapphire Reserve and redeem them for 1.5% on travel. It’s very easy to link the cards by calling Chase.

Here are my favorite perks, when linked with a Chase Sapphire Reserve:

80,000 points for signup! These are worth $1200 when transferred to the Sapphire Reserve and redeemed for travel, or $800 cash, or 80,000 miles/points with various airlines and hotels.
20,000 points referral bonus when you refer a fellow business owner to sign up (including yourself if you have more than one business).
4.5% back on business categories, such as travel, internet, phone, cable, shipping, social media ads, and web search ads. This is when you convert the points to the Sapphire and redeem them for travel; otherwise they are only worth 3% back.

The Chase Ink Business Preferred comes with a $95 annual fee, which is tax deductible.

The Perfect Pair

Together, these credit cards make the perfect pair for traveling entrepreneurs. Not only do you get $1950 in free travel as a sign-on bonus, but you get 4.5% back in a number of useful categories, free lounge access, free TSA Pre, and free Global Entry! They have totally changed my travel experience, and I’ve lost count of the number of free trips and hotels that I’ve gotten from the pair.

I’ve always loved to travel, and I’ve been able to take it to the next level as an entrepreneur. I typically take one big trip a month, along with lots of shorter trips. For example, I went to 7 states and 10 countries in one year (including visiting the Grand Canyon twice because I loved it so much!)

Here are a few fun observations about travel for the self-employed.

1. You Own Your Schedule

Rule #1: Always check with the boss before taking time off. Rule #2: You are the boss!

When you work for yourself, you can take off whenever you want. Monday has no special meaning, except that most of your friends are busy working at their jobs. Neither does Saturday or Sunday, except that your friends are more free to hang out, so I’ve found it’s a good practice to minimize work on those days. For travel, this means you can go whenever you want, or even just take a random weekday off for a day trip.

2. Work From Anywhere

For many kinds of business, you can get a lot of work done remotely. Even when I had a brick and mortar business with 25 employees, I structured the business so that I was not in a critical position where I had to be there every day. I got an email twice a day with a status update of the businesses key performance indicators and any important updates. With technology I can be reachable anywhere in the world, and my employees and clients don’t know the difference.

3. Maximize Productivity

My most productive time is the week before a vacation, because I’m highly motivated to get decisions made and work done before my trip. I also have a lot of energy to get things done, because I know I’m going to have a time to relax afterwards! When I do work on a trip, I’m often motivated to work quickly so that I can get back to enjoying the trip. So, taking vacations more makes me more energized and productive!

4. Get Inspired!

Sometimes distance can give you a better perspective on things. Many of your best ideas may come while you’re disconnected, such as on an airplane, hike, or exploring Machu Picchu. In fact, the idea for this article came to me when I was on an airplane, and I wrote most of it on the flight!

5. Get the Best Deals

Since you own your schedule, you aren’t restricted to travel during the most expensive times, like the holidays. If you go off season, you can find incredible deals, and often without planning too far ahead! I’ve seen spring and fall flight deals to Europe and Asia for a fraction of what they cost in the summer or holidays. You’d be surprised how many airlines have sales, once you start paying attention!

6. Business Expenses

Some activities during your travel may be a business expense and be tax deductible. For example, if you visit a competitor’s business while on vacation, that may count as market research. You can even plan a whole trip around a visit to a business partner and be able to deduct the whole trip! Consult your accountant on this and be sure to keep this reasonable and honest, or the tax auditor may come knocking.

As a final note, I would like to add that a good work / life balance don’t come automatically with being a business owner. Many owners end up overworked and feel like they can never get away. However, planning your business and your life right is what The Easy Entrepreneur is all about!

Tag: travel

The Best Credit Cards for Traveling Business Owners