The Chase Ink Business Unlimited Credit Card is a straightforward cash-back credit card designed for small business owners who want to earn rewards without the hassle of tracking spending categories or bonus multipliers. With an unlimited 1.5% cash back on all purchases, a $0 annual fee, and a generous welcome bonus, this card is a solid choice for businesses looking for a no-frills approach to earning cash back.
Introduction
As a small business owner, you likely have a lot on your plate, from managing day-to-day operations to planning for growth and expansion. The last thing you need is a complicated credit card rewards program that requires you to keep track of rotating bonus categories or spending caps. Enter the Chase Ink Business Unlimited Credit Card – a straightforward cash-back card that rewards you with a flat 1.5% back on every purchase, no matter the category or amount spent.
In this comprehensive review, we’ll dive deep into the features, benefits, and drawbacks of the Chase Ink Business Unlimited Credit Card. We’ll explore its rewards structure, sign-up bonus, introductory APR offer, and other perks to help you determine if this card is the right fit for your small business needs.
Rewards Program
The Chase Ink Business Unlimited Credit Card keeps things simple with its rewards program. You’ll earn an unlimited 1.5% cash back on every purchase, regardless of the category or amount spent. This flat-rate structure means you don’t have to worry about activating bonus categories or tracking your spending in specific areas.
While 1.5% cash back may not seem like a lot, it can add up quickly, especially for businesses with high spending volumes. Additionally, the lack of spending caps or category restrictions means you’ll never miss out on earning rewards, no matter where your business expenses lie.
READ ALSO: Chase Ink Business Premier Card Review – A Premium Cash Back Card for Big Spenders
Sign-Up Bonus
One of the standout features of the Chase Ink Business Unlimited Credit Card is its generous sign-up bonus. New cardholders can earn $750 bonus cash back after spending $6,000 on purchases in the first 3 months from account opening. This bonus alone can offset a significant portion of your business expenses, making it an attractive offer for small business owners looking to maximize their rewards earnings.
Introductory APR Offer
In addition to the sign-up bonus, the Chase Ink Business Unlimited Credit Card also offers a 0% introductory APR on purchases for 12 months. This introductory offer can be incredibly valuable for businesses planning a large purchase or looking to finance expenses over a longer period without accruing interest charges.
After the introductory period ends, a variable APR of 18.49% – 24.49% will apply, which is in line with industry standards for business credit cards.
Additional Benefits
While the Chase Ink Business Unlimited Credit Card’s main selling point is its simplicity and straightforward cash-back rewards, it also comes with a few additional benefits that can be valuable for small business owners:
- Employee Cards: You can add employee cards to your account at no additional cost, making it easier to manage and track business expenses.
- Purchase Protection: Purchases made with the card are covered against damage or theft for up to 120 days, with a maximum coverage of $10,000 per claim and $50,000 per account.
- Extended Warranty Protection: Eligible purchases with a manufacturer’s warranty of three years or less will have their warranty extended by an additional year.
- Auto Rental Collision Damage Waiver: When you rent a car for business purposes and decline the rental company’s collision damage waiver, you’ll be covered for theft and collision damage.
- Roadside Dispatch: Access to pay-per-use roadside assistance services, such as towing, jump-starts, and lockout services.
Drawbacks
While the Chase Ink Business Unlimited Credit Card offers a solid value proposition for small businesses, it’s important to consider its potential drawbacks:
- No Bonus Categories: The flat 1.5% cash back rate can be less rewarding than cards that offer higher earnings in specific spending categories, such as office supplies or travel.
- Foreign Transaction Fees: The card charges a 3% foreign transaction fee, making it less ideal for businesses that frequently make purchases abroad or deal with international vendors.
- Limited Travel Benefits: Unlike some premium travel rewards cards, the Chase Ink Business Unlimited Credit Card does not offer benefits like airport lounge access, travel credits, or complimentary hotel stays.
Conclusion
The Chase Ink Business Unlimited Credit Card is an excellent choice for small business owners who value simplicity and want to earn cash back without the hassle of tracking bonus categories or spending caps. With its unlimited 1.5% cash back on all purchases, generous sign-up bonus, and introductory APR offer, this card can be a valuable addition to your business’s financial toolkit.
While it may not offer the highest rewards rates or the most comprehensive travel benefits, the Chase Ink Business Unlimited Credit Card excels in its straightforward approach to earning cash back, making it an ideal choice for businesses that prioritize convenience and flexibility.
Ultimately, whether the Chase Ink Business Unlimited Credit Card is the best fit for your small business will depend on your specific spending patterns, travel needs, and overall financial goals. By carefully evaluating your business’s expenses and priorities, you can determine if this card’s simplicity and rewards structure align with your unique requirements.
FAQs
Q: What credit score do I need to qualify for the Chase Ink Business Unlimited Credit Card?
A: While Chase does not disclose specific credit score requirements, you’ll generally need a good to excellent credit score (typically 690 or higher) to qualify for the Chase Ink Business Unlimited Credit Card.
Q: Can I apply for the Chase Ink Business Unlimited Credit Card if I don’t have a registered business?
A: Yes, you can apply for the Chase Ink Business Unlimited Credit Card as a sole proprietor or freelancer, even if you don’t have a registered business entity.
Q: How do I redeem my cash back rewards?
A: You can redeem your cash back rewards earned with the Chase Ink Business Unlimited Credit Card as a statement credit, direct deposit into a qualifying U.S. bank account, or for gift cards, travel, and more through the Chase Ultimate Rewards program.
Q: Can I transfer my Chase Ultimate Rewards points to travel partners?
A: While the Chase Ink Business Unlimited Credit Card earns cash back in the form of Ultimate Rewards points, these points cannot be transferred to travel partners. However, if you also hold a premium Chase card like the Chase Sapphire Preferred or Chase Sapphire Reserve, you can combine your Ultimate Rewards points and unlock the ability to transfer them to travel partners.
Q: What is the foreign transaction fee for the Chase Ink Business Unlimited Credit Card?
A: The Chase Ink Business Unlimited Credit Card charges a 3% foreign transaction fee on purchases made abroad or with international merchants.
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