Ink Business Unlimited Credit Card Review for Small Business
The Chase Ink Business Unlimited is one example of a business credit card you may consider.
In this Ink Business Unlimited Card review, we’ll educate you on all you need to know about the Chase Ink Business Unlimited so you can make an informed decision for your business. Our review will cover:
- About the Chase Ink Business Unlimited.
- Benefits and rewards with the Ink Business Unlimited.
- Pros and cons of the Chase Ink Business Unlimited.
- Our verdict on who the Ink Business Unlimited is best for.
About the Ink Business Unlimited Credit Card
The Ink Business Unlimited Credit Card enables your business to earn 1.5% cash back on all purchases. It differs from other business credit cards because there’s no annual fee and you can earn unlimited rewards that won’t expire.
You can redeem your rewards as a statement credit on your next credit card bill, direct deposit into your bank account, or exchange for a gift card to a store or restaurant. Your points can also be applied to any travel purchases you make on the Chase travel portal.
If you want to earn cash back but aren’t interested in the hassle of bonus spending categories, the Chase Ink Business Unlimited Credit Card may be a viable option. Regardless of whether your small business is new, your main venture, or a side hustle, you can apply and will likely get approved if you meet the business credit card requirements.
In addition to 1.5% cash back rewards, the Ink Business Unlimited Credit Card’s $500 sign-up bonus, which you can enjoy if you spend $3,000 within the first 3 months is quite attractive, especially for a card that doesn’t charge an annual fee.
Benefits and Rewards with Ink Business Unlimited
With the Chase Ink Business Unlimited, you can enjoy the following benefits and rewards.
- 1.5% cash back on all purchases: You’ll get 1.5% cash back on every purchase you make and don’t have to worry about keeping track of bonus categories.
- Introductory APR: You can enjoy a 0% intro APR for 12 months on all of your purchases. Once the intro period is up, your APR will be 14.99% – 20.99%, depending on your business creditworthiness. It’s a good idea to build business credit and improve your business credit score before applying for this card.
- Generous sign-up bonus: After spending $3,000 in the first three months from account opening, you can earn a $500 cash bonus. This is a hefty bonus, especially when compared to the sign-up bonuses other business credit cards.
- Purchase protection: For your peace of mind, the Ink Business Unlimited covers new purchases for up to 120 days against theft or damage.
- Auto rental collision damage waiver: If you rent a car for a business purpose and use the Chase Ink Business Unlimited, you don’t have to dish out the extra cash for the rental car company’s collision insurance. In the event of theft or collision damage, you’ll be protected by the card up to the cash value of the vehicle.
- No additional cost for employee usage: If you permit other employees to use the Ink Business Unlimited, you can set them up as authorized users with their own individual spending limits without paying any extra fees.
Pros and Cons
Just like all business credit cards, the Chase Ink Business Unlimited comes with advantages and drawbacks so it’s important to understand both before deciding whether or not this card is a good option for your business.
Pros of the Ink Business Unlimited Credit Card
- No annual fee: It’s not uncommon for business credit cards to charge their cardholders with an annual fee. Fortunately, there is no annual fee with the Chase Ink Business Unlimited.
- Rewards for every purchase: Many business credit cards only reward you for making purchases in certain categories. The Ink Business Unlimited gives you the chance to earn cash back on everything.
- Unlimited rewards: You can earn as many rewards as you want with this card as there is no cap. Also, your rewards will never expire, as long as you keep your account open and in good standing.
Cons of the Ink Business Unlimited Credit Card
- Cash back rewards may be better: While 1.5% cash back is decent, you can earn higher rewards with other cards if your business spends a great deal of money on specific categories like office supplies or restaurants.
- Foreign transaction fee: If your business travels abroad frequently, the 3% foreign transaction fee for purchases made outside of the United States may be a significant downfall.
- Chase 5/24 policy: The Chase Ink Business Unlimited follows the Chase’s 5/24 policy, which states that if you’ve opened 5 or more cards in the past 24 months, Chase won’t approve you for certain cards.
Alternative Small Business Credit Cards
Not sure if the Chase Ink Business Unlimited is right for your business? Here are some alternative small business credit cards to consider.
- Capital One Spark Cash Select for Business: With the Capital One Spark Cash Select for Business, you can earn 1.5% cash back on all purchases. Once you spend $3,000 on purchase within opening the account, you can claim a $200 sign-up bonus.
- Blue Business Plus Credit Card from American Express: The Blue Business Plus Credit Card from American Express offers 2x membership rewards on all business purchases up to $50,000 annually. You can redeem these points for cash back, gift cards, Amazon purchases, and more.
If your business spends money on various goods and services, the Chase Business Ink Unlimited may be the way to go as you’ll earn a flat 1.5% reward on every purchase you make. In addition, the Ink Business Unlimited makes sense if you already have another Chase business card such as the Ink Cash or Ink Preferred, which only offers bonus points in certain categories.
Also, if you own a new business and have to make some large initial purchases or lack steady cash flow, you can benefit from this card.
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Frequently Asked Questions
How can I benefit from the Chase Ink Business Unlimited?
With the Chase Ink Business Unlimited, you can earn 1.5% cash back on all purchases. In addition, the card comes with other perks like a 0% intro APR for 12 months, earn $500 in bonus cash, purchase protection, and an auto collision damage waiver.
Are there limits to how many rewards I can earn?
No! Unlike other business credit cards, this card doesn’t put a cap on how much you can earn in rewards. Also, rewards never expire.
What are the drawbacks of the Chase Ink Business Unlimited?
Although the Ink Business Unlimited offers a number of noteworthy advantages, there are also a few cons to note. There’s a foreign transaction fee and you may be able to earn higher rewards if you spend heavily on certain categories.
Who is the Chase Ink Business Unlimited right for?
If you’re a new business looking for funding to make initial large purchases or spend money on a number of different categories for your business, the Ink Business Unlimited may be worthwhile. It may also be a good fit if you hold another Chase card like the Ink Cash or Ink Preferred.
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.