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Review of Chase's Business Credit Card Options
June 13, 2018
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Review of Chase's Business Credit Card Options

June 13, 2018
Chase Bank, a subsidiary of JP Morgan Chase, offers many business credit card options. JP Morgan Chase is America’s largest bank, with assets totaling $2.53 trillion, and is a preferred credit card provider for many small businesses. Their highly reputable credit cards come with rewards and bonuses, and feature reasonable interest rates.

When selecting your Chase small business credit card, pay special attention to the points and cash back programs, and determine which one will provide you with the most benefits. In this post, we’ll review three of Chase’s most popular business credit cards.

1. Chase Ink Business Cash Credit Card

The Chase Ink Business Cash card is an excellent all-around credit card for small business owners. The card offers low APR rates, a generous rewards program, and has no annual fee. Other Chase cards offer more generous reward programs, or likewise lack annual fees, but in terms of combining rewards with value, none top the Chase Ink Business Cash.

Chase Ink Business Cash Points Highlights:

  • 5 percent cash back on office supplies, Internet bills, and other select business expenses.
  • 2 percent cash back at restaurants and gas stations.
  • Unlimited 1 percent cash back on all other purchases.
  • 3 percent foreign transaction fee.
  • Variable APR of 14.74–20.74 percent.

Sign Up Bonuses:

  • Zero percent APR for the first 12 months.
  • $500 cash back if you spend $3,000 in the first three months.

Other Benefits:

  • Purchase Protection: Protection on up to $10,000 per purchase and $50,000 per account within 120 days of purchase.
  • Auto Rental Collision Damage Waivers: Use your card to rent your car and waive the collision insurance.
  • Extended Warranties Program: Receive one additional year of warranty protection for eligible warranties of less than three years.
  • Travel and Emergency Assistance: Access to a phone number providing roadside assistance.

2. Chase Ink Business Unlimited Credit Card

The Ink Business Unlimited credit card is quite similar to the Chase Ink Business Cash card. Both feature no annual fees, generous bonus programs, and identical interest rates. In addition, both cards offer a $500 cash back bonus after you spend $3,000 within the first three months, and 12 months 0 percent introductory APR.

Other Features:

  • 3 percent foreign transaction fee.
  • Zero percent APR for the first 12 months.
  • Purchase protection, auto rental collision damage waivers, roadside dispatch, extended warranties program, and travel and emergency assistance are available.
  • Ability to issue employee cards for free.

The Key Difference Comes Down to Cash Back:

The biggest difference between the Ink Cash and Ink Unlimited is the bonus program. While the Ink Cash offers differing cash back amounts of between 1 to5 percent, the Ink Unlimited offers a flat 1.5 percent cash back for all purchases.

3. Chase Ink Business Preferred Credit Card

The Chase Ink Business Preferred card is an excellent credit card for travelers because of the lack of foreign transaction fees and generous travel points. Chase will also issue employee credit cards at no additional cost, and even offers a cell phone protection plan (on phones worth up to $600) when you pay your cell phone bill with your Chase Ink Business card.

Chase Business Ink Points Highlights:

  • 3X points on certain business purchases, such as social media advertising, travel, and Internet bills (up to $150,000).
  • Unlimited 1X points on all purchases.
  • 25 percent bonus on points redeemed through Chase Ultimate Rewards.
  • 1:1-point transfer to other leading points programs.
  • Unlimited 1 percent cash back on all other purchases.

Chase Business Ink Terms Highlights:

  • Variable APR of 17.49 – 22.49 percent.
  • $95 annual transaction fee.
  • No foreign transaction fees.

Applying for Chase Ink Credit Cards

You can apply for all three Chase Ink credit cards by going to the Chase’s Small Business Credit Card website and visiting the individual pages for each card. You’ll need to fill out paperwork with your personal details including your social security number, address, and gross income. In addition, you’ll also have to provide your information about your business, including your business’s industry and annual gross revenues.

Keep in mind that applying for multiple credit cards can negatively impact your credit score.

Conclusion: Chase Ink Cards Are Great Options for Small Businesses

No matter which Chase Ink business card you chose, you’ll likely benefit from having this resource. Ask yourself which benefits and bonuses you’ll most likely benefit from, as that will help you make the best decision for your company.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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