The 5 BEST Credit Cards for Beginner Dropshippers (2020)

these are the five best credit cards to use if you are a drop shipper in order to maximize your cashback or reward points what's up Paul here from dropshipping Titans comm where I teach regular people just like you how to start successful dropshipping businesses on eBay and Amazon one of the cool things about dropshipping is that we put a lot of money through our credit cards which means that we can really rack up our cash back or reward points so if you like cashback if you like rewards make sure to smash the like button and also pay attention to the five best credit cards that I found for dropshipping I'll throw a bonus one there as well now before we get started I do want to tell

you about what you're going to look for in a credit card so first thing I look for is what are the rewards I'm going to get credit cards will sometimes give you an upfront bonus usually right when you sign up or if you spend a certain amount of money within the first couple of months but they also give you an ongoing bonus as well ongoing rewards so a card might say hey will give you $100 if you spend $100 in the first month and after that you get 1% back well that's not worth it to me I would rather receive no money up front and get at least 2% cash back for the card because over the long run that's going to be worth a lot more now the second thing I look for is if there is any caps on the rewards sometimes they'll say you can receive up to $1,000 cash back for the year but that's it and sometimes they say you can only receive cash back in certain categories the other thing I look for is what bank is issuing the credit card because some banks are better than others and I'm also going to see how hard how difficult it will be to get approved for the card based on my credit score so I'll give you more examples of those but let's look at the first card right here which is the Amazon Prime Rewards Visa signature card this one is hands-down the best card to use if you are drop shipping from amazon on to any other website because it gives you 5% cash back on all your purchases it's actually a credit back to your Amazon account for 5% that is a huge amount 2% is usually the highest cashback you'll see this is 5% back and this card is issued through chase which is an excellent Bank now there's no caps on this either there's no upfront signup bonus but there's no cap on the 5% that you get back now the

other thing I forgot to mention towards the start of the video is that I also look to see if there's an annual fee for the credit cards that I sign up for this one doesn't have an annual fee but you do have to be an Amazon Prime member in order to get that 5% back but if you're an Amazon Prime member anyway then it basically is free now the credit approval process because this is a store card store cards are usually easier to get approved for than more traditional credit cards and when I applied for it I didn't have any problem at all so hands down if you are drop shipping from Amazon this is the best credit card to get now the second card that should be in your arsenal is the Walmart rewards credit card this is a brand new card and we are super excited by it because just like the Amazon card this one gives you 5% back on all the purchases that you make on Walmart so there's no upfront kind of bonus that you get but on going with no caps 5% back on all your Walmart purchases now as for a fee there's no fee for this one as well and you don't need to sign up for some sort of special account like a prime account so it really is $0 annual fee the other awesome thing about this card is that is issued by Capital One Bank which is one of the best banks for credit cards a lot of these store credit cards will be issued by a bank called synchronicity or synchrony I'm not really sure how to say it and I found that bank to be terrible a really terrible credit card and finally because it is a store credit card it should be a little bit easier to get approved for this one for other cards now the third credit

card I want to talk about is if you are drop shipping from Lowe's now Lowe's has a few different credit cards available but none of them have an annual fee they all give you 5% off if you use the cards and there's no cap on that either and at least one of the cars is issued by American Express which is a really excellent bank to get credit cards from as well so here are all three of the cards right here but really the only card that I suggest is the American Express one because you'll receive the 5% back and you also get a card from American Express which like I said is an excellent place to get a credit card from now if you are only going to do shopping on Lowe's for pros calm now this is what many people don't know is that there is a Lowe's calm and there's a Lowe's for proz. com they're very similar websites with some differences but they essentially have the same items in them so if you're only going to be shopping on lows for proz. com then you might as well just get this card which is called the pro services preload card this is a prepaid card so no credit check is required and you can only use it on Lowe's for pros calm and you get the 5 percent statement credit when you use it otherwise if you're using Lowe's than I would get the American Express version now unfortunately I have found this one's actually more difficult to get approved for probably because it's an American Express card and even if you are approved they kind of start out with a low limit which is really frustrating but just a reality of what it is so those three cars we just covered are specific for specific stores but what if you're not drop shipping on those stores or maybe you only want one credit card to work with that would work with all of these stores if that's the case then hands-down the best all-around credit card you can get for a business is one of the Capital One's spark business credit cards it's actually three of them to choose from so the first one is the spark 2% cash back card this is the one I use hands down my favorite credit card I've gotten so much in cash back using this card they give you a one-time $500 cash bonus once you spend forty five hundred dollars in the first three months which is pretty easy for us as dropshippers and you get 2% back on all your purchases out after that with no minimums no expiration date no caps on that as well now there is an annual fee of $95 but I found I can make that $95 in just a very short period of time so it's definitely worth it now if you're looking to rack up reward points so that you can travel for free then a really good alternative is the spark 2 X miles credit card you'll get 50,000 miles once you spend 4500 dollars in the first three months and you can transfer those you can get $100 credit for TSA PreCheck or Global Entry and you get unlimited 2x miles on every purchase with no minimums no expiration date and no caps on that one's also $95 a year but if you use it as much as I do you'll definitely make it worth that price both of those cards are issued obviously by Capital One which is a great bank but they do require excellent levels of credit I actually found it a little bit difficult to get this card at first and what helped a lot was to open an account with Capital One they saw my banking history they saw me putting money in it and that helped me get the credit card on the left here but if you're looking to travel the blue one the 2x miles is obviously the better choice for you now a third choice here is the SPARC 1. 5% cash select it's kind of like the one that I have but not as good you get $200 cash bonus once you spend $3,000 in the first three months and then 1. 5% cash back after that now the benefit of this card is that there's a zero Doppler annual fee for this one like I said I really prefer the 2% cashback one because that $95 is really not that much compared to how much I actually receive in cash back by the way that cash back you can either receive it in the form of statement credit a check or gift cards as well so those are really good choices for all-around drop shipping now those require excellent credit but if you don't have excellent credit a good alternative for you is the city credit card it's a city double cash card this has a 0% annual fee it gives you 1% when you buy and 1% when you pay off the purchase I personally don't have this card but it has some of the best reviews out there this is not a business credit card but if you're a small business a solo entrepreneur you could potentially use this for your business you might just have lower limits on it overall those this is a really excellent card from everything that I read now my bow is one for you here is let's say you're getting

started and you have no credit history and no one's approving you for a credit card then what I would do is sign up for an account with Wells Fargo and sign up for the Wells Fargo business secured credit card this one doesn't have an annual fee it doesn't have any signup bonus but you get 1. 5% cash back on all your purchases now the way a secured credit card works is that you give the bank a set amount of money as collateral anywhere between $500 and $25,000 so let's say you give them $2,000 they put that into a separate account that you don't touch and the bank doesn't touch either then you spend your credit card on something you get the bill you paid off as you would with a normal credit card and let's say you default let's say you don't pay off that credit card then the bank will take the money out of that collateral that's set aside and use that to pay off the credit card but once you close this credit card assuming you're all paid up then they release that money to you this is actually what I did when I started my business because I didn't have the greatest credit to be honest I didn't have great credit history and my business certainly had zero credit so we signed up for one of these we started using him and we were getting 1. 5% cash back on all our purchases once this card closed we got all of that collateral back into our bank so this is the best choice for someone who's just starting out so there you go guys those are the top five credit cards actually I think we cover like five six seven eight like eight or nine credit cards in this but basically five or six credit cards here that I think are great for new dropshippers whether that's on eBay or Amazon so if you got any value I this video make sure to smash a like button down below leave me a comment letting me know what your favorite credit card is and also let me know whether you have any problems getting these cards whether you want reviews of different cards for dropshipping and I'll do those reviews as well otherwise guys thanks so much for watching make sure to subscribe to the channel and I'll see you next time