Protecting Your Business & Your Wallet: Legal Services and Rewards
As a small business owner, you know that legal protection isn't a luxury – it's a necessity. From forming your LLC to reviewing contracts, legal services are vital. But legal fees can add up quickly. RewardSmart is here to help you minimize those costs by maximizing your credit card rewards on these essential expenses.
Which Cards Offer the Best Legal Rewards?
Before signing up for any legal service, take a look at your credit card portfolio. Do you have a card that offers bonus rewards on business services? Some cards specifically categorize legal services under "professional services" or "business expenses," potentially earning you 2x, 3x, or even 5x points/miles/cash back.
Consider cards like the Ink Business Preferred® Credit Card (offering 3x points on select business categories) or the American Express® Business Gold Card (offering 4x points on your top two spending categories each month, up to $150,000 in purchases per calendar year). Review your card's terms and conditions carefully to confirm the specific bonus categories. If you're using a general rewards card, prioritize one with a high flat-rate rewards structure, like 2% cash back on everything.
Maximizing Rewards with Online Legal Platforms
Many small businesses are turning to online legal platforms for cost-effective solutions. These platforms often accept credit cards, creating an opportunity to rack up rewards. Platforms like LegalZoom or Rocket Lawyer usually allow monthly subscriptions. Set up auto-pay with your rewards card and consistently earn points.
Pro Tip: Check if the platform offers any discounts for annual subscriptions. If so, and you plan to use the service long-term, paying annually can save money and allow you to earn a larger lump sum of rewards points at once.
Strategic Spending for Big Legal Bills
Sometimes, you'll face a significant legal expense, like defending a lawsuit or drafting complex contracts. These situations call for a strategic approach. If you have a new credit card with a minimum spending requirement to earn a welcome bonus, consider using it to pay the legal bill. Just make sure you can pay off the balance on time to avoid interest charges, which would negate the value of your rewards.
Another strategy is to use a credit card with a 0% introductory APR on purchases. This allows you to spread the cost of the legal bill over several months without incurring interest, while still earning rewards. However, be sure to pay off the balance before the 0% APR period ends.
Don't Forget About Statement Credits and Offers
Periodically check your credit card accounts for statement credits or special offers that can be used towards legal services. Some cards offer credits for specific business services, or even general statement credits that can be applied to any purchase. These offers can provide significant savings on your legal expenses.
The Bottom Line
Legal protection is a crucial investment for any small business. By strategically using your credit cards, you can earn valuable rewards on these necessary expenses, effectively offsetting some of the costs. Take the time to analyze your spending and choose the right card to maximize your returns. Regularly review your credit card rewards strategy to ensure you're always getting the best value.