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Chase Ink Business Unlimited review: A basic cash-back card for small business owners

Chase Ink Business Unlimited Credit Card review·Yahoo Personal Finance
Updated 7 min read

If you own a small business, a business credit card can help you track your finances and earn extra rewards. While some business credit cards can have expensive annual fees, the Ink Business Unlimited? Credit Card has no annual fee at all, making it a good choice for freelancers and other small business owners with tight budgets.

Plus, the Chase Ink Business Unlimited Card has added benefits, like promotional APR offers on new purchases and a flat cash-back rate on your purchases.

  • Annual fee: $0

  • Welcome offer: Earn $750 cash back when you spend at least $6,000 on purchases within three months of opening an account

  • Rewards: Unlimited 1.5% cash back on every business purchase

  • Recommended credit score: Good to Excellent

Unlike some other major business credit cards, the Chase Ink Business Unlimited card doesn't have an annual fee, so there's no cost to sign up and hold the card. You can also get additional cards for your employees without paying an extra fee.

With the Chase Ink Business Unlimited Card, new cardmembers can earn a $750 bonus by spending $6,000 or more on new purchases or services within three months of account opening. Once you meet the spending requirement, the bonus will be disbursed to your account within six to eight weeks.

The Chase Ink Business Unlimited Card has an introductory APR offer for new purchases; you can take advantage of 0% APR for 12 months from your account opening date; after that, the regular purchase variable APR of 18.49% to 24.49% applies. The promotional APR allows you to finance major business purchases — such as buying a new office chair, laptop, or copier — and have a full year to pay it down without interest.

Although some cards have complex rewards structures, the Chase Ink Business Unlimited Card is a simple 1.5% cash back on all business purchases

The Chase Ink Business Unlimited Card is a great choice for business owners who don't want to worry about keeping track of changing bonus categories or different cash-back rates. You'll earn a flat 1.5% cash back on every purchase, so you can use it to purchase office supplies and electronics, pay for your internet service, and earn cash-back rewards.

You can redeem your cash-back rewards in the following ways:

  • Cash: Redeem your points rewards for statement credits or direct deposits to your checking or savings account.

  • Gift cards: Redeem points for gift cards to major restaurant and retail chains.

  • Travel: Use your points to book airline tickets, hotel accommodations and cruises through the Chase Travel portal.

  • Pay with points: Select retailers allow you to use your points at checkout to cover some or all of your purchase.

When you redeem your points for cash, gift cards or travel, each point is worth one cent each. But if you use your points to pay for items at checkout, they may be worth less.

Despite having no annual fee, the Chase Ink Business Unlimited Card offers some valuable benefits:

  • Auto rental collision damage waiver: If you turn down the rental car company's coverage and pay for the rental with your card, you'll get free auto rental collision damage insurance.

  • Extended warranty protection: On qualifying purchases with warranties of three years or less, Chase will automatically extend the warranty by one year.

  • Purchase protection: New purchases are protected against damages or losses from theft for 120 days from the purchase date, up to a maximum of $10,000 per claim and $50,000 per account.

  • Roadside assistance: The Chase Ink Business Unlimited Card gives you access to roadside assistance without a membership fee. This service can help if your car breaks down and you need a tow or a spare tire.

  • Travel and emergency assistance: If you're traveling and need help with legal referrals or medical attention, you can contact Chase's travel and emergency assistance hotline for recommendations.

The Chase Ink Business Unlimited Card is a good fit for freelancers, independent contractors, and small business owners who want a basic rewards card without an annual fee. You'll earn a simple cash-back rate on all purchases, and you can redeem your rewards for cash, travel, or gift cards. The card also has added benefits, like car rental insurance and roadside assistance.

Business owners who tend to spend significant amounts in certain categories, such as dining out with clients or business travel, may be better off with a rewards card that offers higher rewards rates in those categories.

  • No annual fee: The Chase Ink Business Unlimited card doesn't have an annual fee, so you don't have to pay a fee just to have the card in your wallet.

  • Simple rewards: Some cards can be confusing, with complex rewards and point redemption programs. The Chase Ink Business Unlimited Card is simpler, with easy redemption options.

  • Added travel benefits: The card has surprisingly robust benefits for a card without an annual fee, including car rental insurance, extended warranty protection and purchase protection.

  • Charges foreign transaction fees: If you travel to other countries for work, be aware that this card charges a 3% foreign transaction fee.

  • High spend requirement for new cardmember offer: To qualify for the new cardmember sign-up bonus, you must spend at least $6,000 on new purchases in three months. For freelancers and microbusiness owners, that spending requirement may be difficult to meet.

  • No promotional APR for balance transfers: Although the Ink Business Unlimited Card offers a promotional APR on purchases, it doesn't offer a 0% APR on balance transfers.

You can make a payment online, through the Chase mobile app, by calling customer support or by sending a check in the mail:

Cardmember Services

P.O. Box 6294

Carol Stream, IL 60197-6294

If the Chase Ink Business Unlimited Card isn't a good fit for you or you business, consider these alternatives:

Ink Business Cash? Credit Card

Why we like it: Similar to the Ink Business Unlimited Card, the Chase Ink Business Cash Credit Card has no annual fee. But it has a tiered rewards structure, making it a better option for those who spend more money on office supplies, internet or cable service, gas and restaurant meals.

Recommended credit score: Good to Excellent

The Blue Business? Plus Credit Card from American Express

Why we like it: With no annual fee, the Blue Business Plus card is an appealing option with an easier-to-earn new cardmember offer; you can earn 15,000 Membership Rewards Points if you spend at least $3,000 on purchases or services within three months of account opening. Plus, you'll earn two points per $1 spent on the first $50,000 of purchases, and one point per $1 spent after that (see rates and fees; terms apply).

Recommended credit score: Good to Excellent

Southwest Rapid Rewards? Performance Business Credit Card

Why we like it: If you're willing to pay its $199 annual fee, the Southwest Rapid Rewards Performance Business Card is a useful option for frequent travelers. You can earn a higher rewards rate on Southwest Airlines purchases, hotel stays and car rentals from Chase partners, social media and advertising, and transit and rideshare services. It also has extra benefits that the Chase Ink Business Unlimited Card doesn't offer, such as a TSA PreCheck or Global Entry fee credit and lost luggage reimbursement.

Recommended credit score: Good to Excellent

This article was edited by Rebecca McCracken

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