Much to the delight of frequent travelers, Chase keeps releasing Ultimate Rewards credit cards. And the bank has unveiled a new addition to the lineup of options for small-business owners—the Chase Ink Business Unlimited credit card.
If you’re familiar with the Chase Freedom Unlimited credit card for consumers, then you already know the rewards structure on the Ink Unlimited card for small businesses. With this card, you’ll pay no annual fees and earn 1.5 percent cash back on all purchases.
Chase Ink Business Unlimited Credit Card
- 1.5% Cash Back on All Purchases
- $500 bonus cash back after you spend $3,000 on purchases in the first 3 months
- 3% foreign transaction fee
It doesn’t matter what the spending category is. There are no caps or limits on your rewards. This credit card is a good option for those business owners whose spending falls into multiple categories.
Once you spend $3,000 on the card in the first three months, you’ll earn a $500 cash reward that you can use for a statement credit or travel (more on this later).
Other Chase Ink Business Cards
Ink Business Preferred℠credit card
- 3x Points on Travel, Shipping, Internet, Cable and Phone services, and Advertising
- 1x Points on Dining
- 1x Points on Gas
- 1x Points on All Other Purchases
- 80,000 bonus points after you spend $5,000 in the first 3 months
- Employee cards at no additional cost
- No Foreign Transaction Fee
- % 25% more in travel redemption
The Ink Preferred is a travel credit card. It earns 3X Ultimate Rewards points per dollar spent on travel, shipping, online advertising and cell phone, internet and cable bills. You can earn triple rewards on up to $150,000 in combined spending per year.
The points earned with this card can be used toward travel purchased through the Chase Travel Portal with a 25 percent bonus. You can also transfer them to Chase travel partners, like the personal Chase Sapphire Preferred and Reserve cards.
Ink Business Cash℠сredit card
- % 5% on the first $25,000 spent at office supply stores, on internet, cable and phone services
- % 2% on the first $25,000 spent at gas stations and restaurants
- % 1% on Travel
- % 1% on All Other Purchases
- $500 bonus cash back after you spend $3,000 in the first 3 months
- 3% foreign transaction fee
As for the Ink Cash card, it is a cashback business credit card that earns 5 percent back in at office-supply stores as well as for cable, internet and mobile services. You also earn 2 percent back at restaurants and gas stations. The bonus is limited to the first $25,000 spent in combined purchases annually.
Why You Should Get the Ink Unlimited Card
What sets the Ink Business Unlimited card apart is the unlimited rewards. Yes, you get a lower earning rate, but your rewards are not capped and the earning structure is quite simple. Every purchase earns a bonus.
However, it is important to note that the card is a better match for some who already holds another Ultimate Rewards card that allows you to transfer points to travel partners.
Does This Chase Business Card Earn Cash Back or Ultimate Rewards?
The Chase Ink Business Unlimited card earns cash back, which can be redeemed for gift cards, travel or statement credits at a rate of one cent per point. However, if you pair this card with a premium Chase card, such as the Sapphire Reserve, Sapphire Preferred or the Ink Business Preferred, your earning potential increases dramatically.
You can turn your cash back into Ultimate Rewards and use them for travel at a rate of 1.25 to 1.5 cents per point through the UR travel portal. Or you could transfer those points to partners and increase the value of your return even further.
Your $500 sign-up bonus can turn into 50,000 UR points, which can be worth as much as $750 when used to book travel (in conjunction with the Chase Sapphire Reserve card). They could be worth even more if you transfer them to hotel and airline partners, such as Hyatt, United Airlines and Southwest Airlines.
Watch Out for the 5/24 Rule
If you’ve been collecting points and miles for awhile, you know that your Chase application will be denied if you’ve opened five or more credit cards in the last two years.
That’s because of Chase’s infamous 5/24 rule. It states that you can’t open more than 5 card accounts in the past 24 months.
Unfortunately, this holds true for the Ink Unlimited card, too. Your application will not be approved if you are over five new cards in the last 24 months.
What If You’re Not a Business Owner?
As far as owning a small business, it’s easier to qualify than you think. Do you sell on eBay or Etsy? That’ll work. Do you have a weekend photography business or offer some accounting services on the side? That counts too. Even part-time gigs and freelancing makes you a business owner.
You don’t need an Employer Identification Number and can use your Social Security number on the application instead. Just make sure to be honest and provide information to the best of your knowledge.
Don’t Miss Out!
Any time a new credit card is released, it creates more opportunities for more rewards. While the Ink Business Unlimited card is good as a stand-alone card, it is great when combined with another Chase Ultimate Rewards card. You’ll have more ways to earn points, and your points will be worth a lot more.
The no annual fee and simple earning structure that offers a bonus on all purchases means that this card is a great supplement to your other cards. Just use this card whenever you won’t earn a bonus on another card and you’ll maximize your earnings.