A quality laptop can last many years — but there will come a time when it will need to be replaced. I purchased my previous laptop in 2015 and used it regularly for nine years. While it still functions, it started showing more signs of wear. Since I’m a self-employed writer, this year felt like a good time to invest in a newer device for my business needs.
I decided to buy a new model to get more done without tech-related slowdowns. But buying tech, such as a desktop computer or laptop, isn’t cheap. I’m also a long-time Apple fan, so I knew the model I wanted would cost a lot of money. Find out how I made this business purchase more affordable without draining my business bank account or going into debt.
I funded my purchase using a 0% APR credit card
I do my best to keep extra cash in the bank for emergencies, but I found another way to fund my laptop purchase. The last thing I wanted to deal with was credit card debt, so I avoided using my existing business credit card. Instead, I applied for a new credit card to finance my purchase.
Several business credit cards have 0% APR promotional offers. With a 0% APR credit card, you can avoid interest charges for a set time as long as you pay off your debt before the promotional period ends. But keep in mind that if you don’t pay the balance off before the no-interest period ends, you’ll be charged interest.
Some 0% APR offers are for purchases, while others are for balance transfers. I got a credit card with a 0% APR offer on purchases and then charged my credit card when buying my new laptop. This afforded me more time to pay it off without incurring credit card interest charges.
I make monthly payments on the card as I chip away at the debt, and I fully intend to pay the entire purchase off before the promotional period ends so I don’t pay interest fees. Because of this, I won’t have to worry about credit card debt or have to dig into my savings.
Why a Business Credit Card Could Transform Your Small Business
These business credit cards that offer a convenient and efficient way to separate personal and business expenses, simplifying accounting and tax reporting.
Additionally, business cards can provide valuable perks such as rewards points, cashback, and expense tracking tools, enhancing financial management and the potential to help save money in the long run.
Ink Business Unlimited® Credit Card |
Earn $750 bonus cash back Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening. |
Earn unlimited 1.5% cash back on every purchase Earn unlimited 1.5% cash back on every purchase made for your business |
Purchases: 0% Intro APR on Purchases, 12 months Balance Transfers: N/A
Regular: |
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Ink Business Cash® Credit Card |
Earn up to $750 bonus cash back Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening. |
Earn 5% cash back in select business categories Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn. |
Purchases: 0% Intro APR on Purchases, 12 months Balance Transfers: N/A
Regular: |
If you need to buy new tech for your small business or have other business purchases you plan to make, you should explore this payment solution. Check out our list of the best small business credit cards to learn more about each card’s features.
Another way I saved money on this purchase
In addition to thinking about the best way to finance this purchase to stay out of debt, I also looked for other ways to maximize my savings. I waited to buy my laptop during a big electronics sale. I was able to get a $500 discount by timing my purchase. I also earned rewards because the credit card I used to pay for it was a rewards credit card.
Look for ways to save money and earn rewards without racking up debt
Do you need to buy new technology for your company? Comparing prices and shopping around for the best deals could offer significant savings. Every dollar you save adds up and can be a win for your business.
Earning credit card rewards is yet another way to maximize your savings when you pay for expenses. Using one of the best cash back business credit cards can help you earn cash back rewards when paying for essential items for your small business.
