The Chase Ink credit card is one of the best business credit cards in the US for your small business needs. Since there are two types of Chase Ink cards available, and both the Ink Cash and Ink Plus offer generous signing bonuses, I've decided to do an overview of these Chase business cards so that you can have a better idea of which one exactly will suit your business needs.
I'll start off with a highlight of the benefits found in both of the Chase Ink cards:
Rewards. Chase is offering all new sign-ups bonuses ranging from $200 bonus cash back to 70,000 points (equal to $875 when redeemed). You will have to make a certain amount of purchases to get these points.
Earn at least 1% cash back or 1 point per dollar on all purchases. Whatever you spend on, you're sure to get rewarded just for using your card.
Redeem for cash back. All cards give you the option to redeem your rewards in the form of cash back, which is cold hard cash which you can earn to offset your business expenses. All cards, except Ink Cash, let you redeem your points through the Ultimate Rewards program for a wide variety of rewards including travel without blackout dates or restrictions, merchandise, gift cards, cash or VIP experiences.
No limit to the amount of cash back or points you can earn. The more business expenses you put on your card, the more cash back or points you'll earn, without any maximum cap.
Free monthly statements and quarterly management reports. Your expenses are itemized and categorized to make it easier for you to track your business’ spending.
Zero Liability Protection. If there are any unauthorized purchases made with your Ink business card, you need not pay a single cent.
Benefits like travel accident insurance, auto rental insurance, roadside dispatch, baggage delay refund, 24/7 real-person customer service, purchase protection, extended warranty, fraud early warning service, etc.
Brief overview of each Chase Ink card:
Ink Cash® Business Credit Card: No annual fee, and $200 bonus cash back after spending $3,000 in the first 3 months after account opening– one of the largest amounts ever offered for a business credit card. It gives you 5% cash rebate on office supplies, cable services, and telecom services on the first $25,000 dollars spent annually, 2% cash rebate on the first $25,000 spent each account anniversary year on gas and dining expenses, and 1% rebate on all other things. Rewards are earned as points and 1 point equals 1% or $0.01 cash back. So if you have 5,000 points, they can be redeemed for a $50 check. Offers a 0% intro APR on purchases and balance transfers for 12 months (13.24% variable APR thereafter). I personally prefer Ink Cash to the other Ink cards because you get cold hard cash back, with which you can do whatever you want. Because of its generous cash rebates, Ink Cash won a spot in our Ink Cash® Business Credit Card for 2015.
Ink Plus® Business Credit Card. You will receive 50,000 bonus points after spending $5,000 on purchases within the first 3 months of account opening. If you redeem through Ultimate Rewards those 50,000 bonus points are worth $625 towards travel. This business card gives you 5 points per dollar on up to $50,000 spent in combined office supplies, internet, telephone, cable TV and cellular phone expense purchases each account anniversary year. You will also earn 2 points per dollar on the first $50,000 spent in combined purchases at gas stations and on hotel accommodation purchased directly with the hotel each account anniversary year. You will earn 1 point for every dollar you spend on other purchases. No foreign transaction fees. The benefits of this card will be maximized to the fullest if you spend between $25,000 - $50,000 annually on internet/phone/cable, office supplies, gas and hotel accommodation. This card has a $0 intro annual fee for the first year, then $95.