We’ve mentioned other business credit cards in the past, but nothing is like the all-new Chase Ink Plus Business credit card. We’ve found that this card holds an extreme amount of credibility through our research and usage and offers a lot of flexibility. Between security measures taken and rewards for each dollar you spend, there’s no reason why you wouldn’t be excited to use this card as a business owner.
When you sign up, there is a $0 annual fee for the first year. Every year afterward, it is $95.
Traveling to a vacation destination on your time off? Thankfully, there is no foreign transaction fee. This is huge for business people who travel often.
The rewards aspect of this card is delightful. With Chase, your points are worth 25% more when deciding to book your trip through Chase. You may be asking yourself about the sign-up bonus as well: they have many of them! If you’re about to purchase equipment or repairs at the cost of $5,000 or more, you will immediately earn 50,000 bonus points. You may be asking yourself if those points are even worth anything. Let’s say that 50,000 points are almost $650 towards your next trip!
If you’re purchasing a new cell phone with a contract, getting within the company snack room, or simply making a supply store run, you’ll earn 5x as many points for each dollar that you spend within these areas each year.
Con: You can only do this until you reach the yearly limit of $50,000. Afterward, you have to wait until your year is up to get 5x as many points on another $50,000.
There is also the option of earning 2x points for every dollar you spend while getting gas or booking a hotel – especially when you book directly to the hotel and use your business credit card.
Con: Like the 5x option, you can only do this until you reach $50,000. After you’ve reached this limit, you must wait until your year is up (the 1st anniversary of the date you signed up) to start getting these reward points again.
If you don’t use your card much, you may not want this card. However, for every other purchase you make, you can still earn points! With every dollar you spend elsewhere using your Ink from Chase business credit card, you’re able to earn one point.
Con: There is NO con to this option! You don’t have to wait any amount of time before earning more of these rewards.
When you present this card, there’s a huge chance you can get 20% off of purchases like airfare, car rentals, hotel accommodations, and even select cruises. But it’s best to note that these discounts only work when you book through the Ultimate Rewards program.
When you book with this card, you’re automatically covered if your business trip (or trip in general) is interrupted or canceled by any means.
When you use this insurance, you can be reimbursed upwards of $5,000, depending on how much you spent on the trip itself.
A lot of times, business owners will make their decision based on the APR rates. So we’re laying them out on the table for you.
These rates will allow you to decide if this is the best for you. If you’re known to pay not on time, this card may not be right for you. If you’re known to take out cash advances, and you’ve shopped around, this may be the lowest one you’ve come across.
Con: There is no special APR for signing on. What you see is what you get.
It’s important to know if you’re signing up for the best of the best, so we’ve found other new business credit cards to compare to.
While this card is also by the chase, these two cards are designed for both types of businesses: large businesses and small businesses that don’t spend as much. The regular Ink plus credit card is great for larger companies that meet the spending minimums, whereas the Ink Cash is designed for a smaller business’s budget and finances.
While both credit cards are great and have the same goal in mind: to keep businesses running with reward incentives and credit, there are definitely cards that outshine one another. The Ink Plus Business credit card seems great on paper, but the actual test of this great card is how stable your business is and how much you spend or make. It’s important not to blindly apply for this card and use it as you can ruin your credit and your business’ credit. Make sure you shop around and see which option works best for your large or small business.