Chase Ink Business Credit Cards: The Truth Revealed
The Chase Ink business cards have earned quite a following and they're some of the best business cards available right now. There are actually three types of business cards, each suited to a different type of business spending. Wondering if these cards really live up to the hype and which is best for your business? Here's what you need to know.
Here Are The Benefits of All Chase Ink Cards
Regardless of which card you choose for your business, all include the following benefits:
Cash back bonus ranging from 20,000 to 50,000, or the equivalent of $200 to $500 cash back once you make the minimum purchase.
A minimum of 1% cash back or 1 point/dollar on all purchases.
Redeem for cash back to offset business expenses. Redeem points through Ultimate Rewards (except with the Ink Cash) to redeem points for everything from cash and travel to merchandise and gift cards.
No limit to cash back or points you can earn.
Free cards for employees with the ability to set spending limits.
Free quarterly management reports and monthly statements with itemized expenses.
Zero liability protection for unauthorized purchases.
Cardholder benefits including 24/7 customer service, Purchase Protection, Extended Warranty, Roadside Dispatch, auto rental insurance and travel accident insurance.
Chances are there's an Ink card that'll work well for your business, but which one is best? Let's go over what each card has to offer.
Chase Ink Cash - $200 Cash Bonus
This is the most popular of the three with no annual fee. It's probably the best no-fee cash back card for businesses on the market now with up to 5% cash back.
Signup bonus of 20,000 points (or $200) after spending $3,000 during your first 3 months.
5% back on office supplies and telecom/cable services on the first $25,000 each year
2% back on gasoline and dining on the first $25,000 each year
1% unlimited cash back on everything else
0% 6 month introductory APR on balance transfers and purchases
With its generous sign-up bonus and no annual fee, and ability to earn great rewards on meals with clients, office supplies and everything else, this card is a good option for most business owners.
Chase Ink Plus - 50,000 Bonus Points
If you do a lot of traveling, if might be worth it to upgrade to the Chase Ink, which comes with a bigger sign-up bonus and great travel perks. This card has a $95 annual fee that's waived the first year -- definitely worth it to get the discount on travel redemptions and boosted rewards.
Sign-up bonus of 50,000 points ($500 cash back or $625 in travel rewards) after spending $5,000 during your first 3 months.
5% back on office supplies and bundled telecom/cable services on the first $50,000 each year.
2% back on gasoline and lodging on the first $50,000 each year.
1% unlimited cash back on everything else
No foreign transaction fees
Access to more than 350 airport lounges with Lounge Club, plus 2 free passes and discounted access for the remainder of the year
Transfer miles 1:1 to major programs like Marriott or United airlines.
Get 20% off all travel redemptions if you book through Ultimate Rewards with no restrictions or blackout dates
While the annual fee of $95 may seem a bit high, you'll more than make up for it if you travel even a couple of times each year or spend a great deal on gasoline, lodging and office supplies.
Chase Ink Bold - 50,000 Bonus Points
The Ink Bold card is the same as the Ink Plus but it's a charge card so it's only recommended for business owners who can pay off their balance in full each month and spend at least $100k on business expenses each year.
Which Card is Best for You?
Most business owners will do well with the Ink Plus with no annual fee and generous rewards, although there's a huge difference in sign-up bonuses. The Ink Plus becomes a better option when your travel spending grows or you want access to airport lounges and discounted travel redemption.
One thing to keep in mind before you apply: with the sign-up bonus, the annual fee for the Ink Plus or Ink Bold would be paid for for over 3 years so you might want to give one of these cards a try in the beginning.