Advertising on Facebook Ads is amazing because you get real active users interacting with your ads. But all the goodies should also come at an affordable price and not empty your bank account. For that, you should understand the payment methods on Facebook when you’re paying for ads, and know which methods will have the most fees or which ones will make you end up spending more on the ads.
In this article, we have gathered a full guide on the existing payment methods on Facebook, and how each one will work out, how much cashback you can get by using each, and how you can save up.
How Billing Works on Facebook Ads
On Facebook, you have the option to choose how to get billed for your running ads. There are generally two types: automatic and manual.
In the manual way, you can pay as you go, meaning you will be billed after every day that your ads are running. So by the end of each day, the ads running price will be calculated and you can get billed.
In the automatic way, Facebook will bill you only either when the threshold of your billing is reached, or when it’s the end of the month. This means that you could be billed after a single limit of spending is met, or you could be billed at the end of the month if it’s not met.
Usually, the threshold of these billings is as low as $25 when you start, but then the threshold is increased every once in a while, when you actually start to pay Facebook.
This threshold for every country could be different, but usually with a debit or credit card or PayPal, the threshold could reach up to $750.
That’s not all. If you think you’d be spending too much, you can also specify a limit for spending. You can simply go on your settings and by checking the “Account Spending Limit” section, set a limit. When that limit of spending is reached, your ads will be paused. That is how you can prevent spending too much.
With all of this in mind, you can ensure a safe way of spending, and continue to the next section where we will discuss the payment methods to Facebook Ads.
Payment Methods on Facebook Ads
When you are in your Facebook Ads Manager, you can simply go to settings and see the payment methods or add one. Usually, there are two main payment methods: credit/debit card and PayPal.
In the following sections, we will go through each of these payment methods and suggest credit/debit cards with the best benefits for spending on Facebook ads.
PayPal
PayPal usually has no fees and will charge your account only for the amount spent on Ads. This is mostly the case unless the currency that you want to pay with is different from the currency on your PayPal account. In that case, you will have to bear the exchange fees.
Credit/Debit Сards
Credit or Debit cards each have their own conditions, but mostly you will be charged only for the amount that you are spending. However, if you want to choose the best Credit card for spending on Facebook, you will want to dig deeper, as there are some credit cards that provide you with a large amount of cashback and bonuses. It’s a good practice to know these cards especially as a businesses just starting out. That is why in the next section we will go through some of the best credit cards for spending on Facebook ads.
Do you want to use PayPal or Credit/Debit cards for Facebook Ad payments?
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Best Credit Cards for Facebook Ads
In this section, we will go through some of the best credit cards with the best bonuses to spend on Facebook Ads.
American Express® Business Gold Card
If you use this card for spending on Facebook Ads, first of all, you will earn 70 000 bonus points, equal to $1 400, right on the first purchase of $10 000. With this card, every single dollar that you spend on ads, you can get 4 points. So, let’s say you spend $100 on Facebook ads, you will get 400 points. You could be spending up to $150 000 a year and you can still get 4 points a dollar.
These points can be interpreted as chances to get free travel and services from airlines, etc. You can even get 25% of the points back if you book a flight with your points accumulated at the end of each year. This is a good shot for you if you are starting out small but plan to spend a lot on ads.
The annual fee for this card is $295, which might seem like a lot, but really, it’s just the money that they’re giving back to you.
Ink Business Preferred® Credit Card
Using the Ink Businesses card to pay for Facebook ads will get you 100 000 points right off the top. If in the first three months of getting this card you spend $15,000 on ads, you can get those bonuses. This basically means $1 000 of cashback or $1 250 if you want to spend on a travel opportunity through Chase Ultimate Rewards.
However, that’s not all, and you can get 3 points per dollar for every to spend up to $150 000 a calendar year. This basically means that you will get $9 000 or 6% of your money back at the end of the year and spend the amount mentioned.
The annual fee for keeping this card is also pretty low, only $95, which is better than the AMEX Business Gold Card.
American Express Blue Business Cash™ Card
The next best card on this list is the AMEX Blue Business Cash card, which give you a $250 bonus credit after spending $3 000 in the first three months from getting the card. After that, you can get 2% cashback on the first $50 000 purchases on Facebook ads (or essentially any other Ad platform like Google Ads). After that, you will get 1% cashback on all your purchases.
Getting 2% cashback for $50 000 a year basically means $1 000 back, which could be a nice trip or more budget into your business, really.
The great thing about this card is that you can actually spend more than your credit limit, which can be granted to you if you have a good credit history.
Fortunately, for maintaining this card, you won’t have to pay a single dime, and it’s completely free. So, if you’re a small business or marketer that wouldn’t spend more than $50 000 a year on ads, consider getting this card.
Southwest® Rapid Rewards® Performance Business Credit Card
The last card on this list is definitely not any less than other cards here. When you first get the card, you can get 80 000 bonuses for spending only $5 000 on Facebook ads or other platforms, which equals $1 200. How amazing is that?
Besides that, you can get 2 points per every dollar that you spend specifically on social media and ads on platforms like Facebook. There are no other specific limits, and you can always enjoy getting free flights and credits for other services.
The annual fee for this card is only $199 so if you want a simple solution for your business, definitely consider this card.
Using Multiple Payment Methods
By default, you can only pay with one payment method on Facebook, however, if you’d like to use the benefit of several of these credit cards, you can always apply for a Business Manager on Facebook. This allows you to choose different payment methods for different ad campaigns on Facebook, so you can benefit from different bonuses based on the criteria and budget of each of your campaigns. For a Business Manager on Facebook, you can visit the Meta Business Suite, and then create a business manager right on the first page.
Conclusion
Nowadays, Facebook is one of the leading platforms when it comes to advertising, and spending money on ads has always been one of the main concerns of businesses and advertisers. Now that you know the criteria of using each payment method, you can go ahead and either choose to start small and use a simple credit card to fund your ad spending on Facebook ads, or you can go big and use the credit card with the highest amount of cashbacks and bonuses so you can ensure a longer run on your ads.
Whatever you choose to go with, make sure that you set your budget and spend limit on Facebook Ads so you won’t ever be surprised with how much Facebook charged you on your bank statement. Happy advertising.
