The Ink Business Unlimited® Credit Card from Chase is amongst the more well-known business credit cards in the market. As the name suggests, this credit card offers its benefits in the form of cashback which can be redeemed through multiple avenues.
The rewards program on this credit card is basic and straight forward. One can earn a 1.5% cashback on all purchases, regardless of the categories. So, let’s say if you spend an average of $5,000 per month on your business expenses on this credit card, your yearly expense will total to $60,000. Then your total earned cashback could be up to $900.
You also get a welcome bonus of $750 when you spend $6,000 within the first 3 months of your account opening. So, if we calculate the potential cashback earned at the end of first year using the above example, you could have a total $1,650 in cashback value. This is useful because this card doesn't have an annual fee and also has a promotion of 0% APR on purchases for the first 12 months followed by a variable APR of 17.49% - 23.49%(Rates and Fees). That means there won't be any additional expenses at least for the first 12 months, which could offset the rewards earned. As long as the account stays open and in healthy condition, the rewards won’t expire. Therefore, from a rewards earning perspective, this card certainly is competitive in the market.
This credit card will serve you well if this is your first business credit card, but it certainly has limitations if your business operates in certain areas.
So, who is it good for?
If you have good credit scores and already have Chase business checking account, this credit card would be a good addition. You would have a relatively easy chance to get approved as well as earn fair rewards even if this would your first business credit card.
If your business requires you to put large expenses on the card, then a 1.5% cashback can certainly add-up to a significant value.
If you are looking for a high welcome bonus, then this card is a good option. This is because $750 value cashback with purchases of just $6,000 in 3 months is certainly competitive with the other players in the market.
Who is it not good for?
If your business requires you to travel very often, especially internationally, this may not be the best choice. That is because, you would incur 3% foreign transaction fee (Rates and Fees) on each transaction. Also, while you can redeem your points through Chase TravelSM, it is not as efficient as you may have it for many other business travel cards in the market.
If your business expenses focus on categories and are not that high, then there might be better cards that you can aim for to maximize your rewards.
If you have an established business credit card wallet and are looking category specific rewards, then this card may not be the best option, as there are other cards in the market where the earning potential is higher.
All information about Ink Business Unlimited® credit card has been collected independently by Credit Ready. This credit card is no longer available through Credit Ready.