How Many Credit Cards You Need As An Entrepreneur?

By Seki Hudson

June 7, 2023

Credit cards can be a great tool to help you to create wealth when used in the correct way, and I recommend using them every time when is possible, but the question I get a lot is how many credit cards you need as an entrepreneur.

7 reasons why you should pay using credit cards

How Many Credit Cards You Need As An Entrepreneur?

As an entrepreneur, you should have three credit cards, and below I am going to give you my opinion on which credit cards you should pick.

Credit Card #1 For daily use 

You should have a credit card that you will use for your daily use, this is the credit card you use to pay for your groceries, pay for the movies or going to the concert, pay when you take your family out, etc.

You use this card to pay for everything that you buy on a daily basis.

The main criterion for picking this card is the cash back, you need to pick the card with the highest cashback in your country.

You can just google the best credit cards with cashback in your country and pick the one with the highest return.

Cashback is the percentage of money that the bank will pay back to use when you buy the items using that credit card.

Usually, this varies from 0.5% to 10%, this is like an instant discount in our daily use.

For now, I leave in Mexico, I have Santander like you credit card that pays me 5% in entertainment and restaurant and 6% in pharmacy, that is the card I picked for my daily use.

Credit card #2: For business use

You are an entrepreneur, you have business expenses, and sometimes you have to buy courses, and software, to pay for tools like hosting and domain names.

All these expenses you need to pay in order to run your business need to have their own credit card, here you can apply for a business credit card or you can just get a personal credit card and use it to pay your business expenses.

The reason for this is that you need to separate your business expenses and your personal expenses, this will help you to better track your money, and also if you pay taxes like me, it will help you to have a deduction in your income tax.

The criteria you can use to pick this card is that it must be a travel card, you see it needs to be those cards that give you benefits related to travel, which can be hotels, car rentals, or air travel.

If you like to travel by air like me you can get a card that offers you travel miles, if you like to stay in good hotels, you can find a card that other your free nights or vacation destinations.

Depending on where you live you should be able to get get the best travel card in your country.

Card Number #3: American Express

The third and last card you should have is an American Express, if you make enough money I would recommend getting the American Express Platinum.

There is something special about having American Express, these cards attract wealthy people around the globe and just having one gives you a certain status in society.

I am not recommending you this card just to show off, that is not the point, but in my experience if you go to a business meeting with the customer and when you pay the bills with your American Express Platinum, people tend to trust you more, do not ask me why but this works all the time.

Another reason to have an American Express Platinum card is that it gives you access to the best dining services in the world, it gives you discounts on many airlines and they have the best concierge services in the globe.

All these things are very useful for use entrepreneurs, sometimes you need someone to find you the ticket for an exclusive event ( just call american express concierge and they will help you with that) if you need someone to help you to plan for your vacation, they can do that, it is like having a free assistant at your disposal.

I can write all day to explain the benefits of having American Express Platinum, but this is my advice, get one and you will thank yourself.

I know American Express cards have hefty annual fees, so if you are just starting out, or you do not have a credit history start with a basic card and when you build a credit history you can apply for this card.

I explain how to build your credit history here.


These credit cards will not help you if you do not use them correctly, you need to pay in full all the amount you owe each and every month before the payment due date this way you will never have to pay a single cent in interest.

Final word

For me, you need 3 credit cards, one for personal use, one for business use, and one for American Express for high-item purchases.

Always use your credit cards in a responsible way, pay your debt at the end of each month, and enjoy the benefits these credit cards bring.

If you want to learn more about how to use credit cards to create wealth, please watch this credit card masterclass.


Seki Hudson

About the author

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