If you own a small business, whether it’s your full-time job or a side project you’re working to get off the ground, you could benefit from opening a business credit card.
It can help you keep your business and personal expenses separate and maintain organized financial records. It may also be easier to qualify for a business credit card than a traditional loan, and these Chase credit cards for business typically provide a higher spending limit than a personal credit card.
One compelling option for small business owners, especially those who are just starting out, is the Chase Ink Business Unlimited credit card. It offers an impressive sign-up bonus, 1.5% cash back on all purchases, and numerous other benefits — all with no annual fee.
You’ll be eligible if you operate any kind of small business, from teaching piano lessons to running an online resale shop. You’ll need to give Chase some information about your business, including your annual revenue, the number of employees in your company, and your tax identification number. Chase will gather credit bureau reports when considering your application. There’s no magic formula for getting approved, but if you have good credit, it could be worth applying.
7 valuable Chase Ink Unlimited benefits
1. There’s no annual fee
While many business credit cards have annual fees, the Chase Ink Business Unlimited Credit Card is free to open and use. This makes it an especially appealing option for business owners who are just starting out.
2. New cardmembers can get a $500 bonus
You’ll have the chance to earn 100,000 points after spending $15,000 in the first 3 months. These can be redeemed either for $500 cash back or potentially something more valuable if used for rewards.
You should allow 6 to 8 weeks after qualifying for the bonus points to post to your account and to be able to redeem them. Note that some transactions don’t count as a purchase, such as gambling transactions, balance transfers, and annual fees.
3. There’s a 0% intro APR for 12 months
Cardholders pay zero interest on purchases in the first year of using the card. This can be helpful if you need to finance some large purchases to get your business up and running. However, you should have a plan to pay down your balance before the introductory period ends because the variable APR after that is 13.24% to 19.24% (variable).
4. You’ll get 1.5% cash back on every purchase
That means you’ll get 1.5 points for every dollar you spend on products and services. Every 100 points translates to $1 in cash. So if you spend $3,000 on your new card to qualify for the bonus offer, you’ll also earn 4,500 points, which is equal to $45 in cash back.
Your points won’t expire as long as your account is open, so you can stock up on points and redeem them for travel or other rewards later on.
5. You’ll also have plenty of other options for redemption
For example, you can redeem your points for travel or gift cards or use them to shop at Amazon or Apple. And if you already have a Chase premium Ultimate Rewards card, like the Chase Sapphire Reserve, you can move your points over to that card to make them more valuable. Using a premium card, you’ll be able to transfer your points to Chase’s airline and hotel transfer partners.
6. You can get employee cards at no added cost
You’ll be able to set spending limits on employee cards, and when your employees use their cards to make business-related purchases, you’ll rack up rewards points in your account. This is also a great way to keep track of all your business expenses — even purchases you don’t make yourself.
7. You’ll be covered if you rent a car for business purposes
While many credit cards offer secondary insurance coverage when you rent a vehicle, it’s less common for primary coverage to be provided. With the Chase Ink Business Unlimited, you can decline the rental company’s coverage options when you put the rental on your card, which will save you money. Your card allows you to be reimbursed in an amount up to the cash value of the car you rent for damage from collision or theft.
You’ll also get an array of additional perks when you open a Chase Ink Business Unlimited credit card.
- Purchase protection. This protects you against damage or theft of new purchases within 120 days. You’ll be eligible to receive up to $10,000 per claim.
- Extended warranty protection. Eligible manufacturers’ warranties under three years will be extended an additional year.
- Emergency and travel assistance. If you need legal or medical help or have an emergency while traveling, you can call the Benefit Administrator for assistance. Note that you’ll be responsible for any costs associated with services you receive.
- Roadside dispatch. If you get locked out or need a tire changed, you can get help right away by calling the roadside emergency line, but your card will be charged for any applicable service fees.
If your goal is to keep track of your business expenses while earning rewards for purchases and without worrying about an annual fee, the Chase Ink Business Unlimited credit card could be a good choice for you. Just know that when you start to make progress and have more business expenses, it might be worth looking into a premium business credit card with an annual fee, as you’ll get much more value out of your rewards points.
That said, it’s not necessarily an either/or situation. The Chase Ink Business Unlimited benefits make it one of the best business credit cards to use for everyday business purchases that fall outside bonus categories offered on other cards.
For example, the Chase Ink Business Preferred offers three points per dollar on select business categories, but only one point per dollar on everything else. So it could be worth putting those other purchases on your Chase Ink Business Unlimited card to get the 1.5% cash back.
Using this card in conjunction with a Chase premium card will help you maximize the value of your rewards. And, if you decide that the Chase Ink Business Unlimited credit card is not the right choice for you, there are other top business credit cards you can consider.
Unlimited Cash Back
1.5% cash back
- New Offer: $750 cash back sign-up offer
- Unlimited 1.5% cash back on all spending
- 0% APR for 12 months on purchases
- No annual fee
- Has foreign transaction fee
- No lucrative rewards categories
- Earn $750 bonus cash back after spending $7,500 in the first 3 months
- 1.5% cash back on all spending
- Intro purchase 0% offer: 0% for 12 months then 13.24% to 19.24% (variable)