6 Reasons We Like the Chase Ink Business Unlimited Credit Card
This new card is a compelling option for small business owners! With no annual fee, the Ink Business Unlimited has a terrific sign-up bonus and a simple 1.5% cash back (1.5 Chase Ultimate Rewards points per $1) earning structure.
With so many options available to small business owners, here are 6 reasons we love the Ink Business Unlimited and why you should consider applying, too!
Why We Like The Ink Business Unlimited
Apply Here: Chase Ink Business Unlimited Card
1. The Sign-Up Bonus
The Ink Business Unlimited is currently offering a sign-up bonus of $500 (50,000 Chase Ultimate Rewards points) after spending $3,000 on purchases in the first 3 months of account opening. We typically don’t see a bonus this high for a no-annual-fee card!
2. 1.5% Cash Back (1.5X Chase Ultimate Rewards Points) on All Purchases
Some cash back cards have a base earning rate of 1% cash back on all purchases, sometimes paired with bonus categories that earn ~2% to 6%. However, the Ink Business Unlimited offers 1.5% cash back (1.5X Chase Ultimate Rewards points per $1) on ALL purchases, making this a great choice for folks who don’t want to keep track of where to earn the highest return on purchases.
3. Points Transfer Potential
While a $500 sign-up bonus and 1.5% cash back on all purchases can alone make this card worth considering, there is actually potential for this to be worth much more!
The Ink Business Unlimited is marketed as a cash back card, and on its own this is truly how the card is designed. However, if you also have an annual-fee Chase Ultimate Rewards earning card, your points can be worth up to 1.5X more!
The 1.5% cash back earned on the card is actually 1.5 Chase Ultimate Rewards points per $1, and each point is worth 1 cent each when you redeem them for cash back or travel through the Chase Ultimate Rewards portal. However, if you have the Chase Sapphire Preferred, Chase Sapphire Reserve, Chase Ink Business Preferred, Chase Ink Bold (no longer available), or Chase Ink Plus (no longer available), those points can be worth even more!
Chase allows you to pool your points together from each of these Ultimate Rewards earning cards. So if you have one of the below cards, the points are worth even more when you combine them and use them to book travel through the Chase Ultimate Rewards portal.
- Chase Sapphire Preferred: Points are worth 1.25 cents each, making the sign-up bonus worth $625
- Chase Sapphire Reserve: Points are worth 1.5 cents, making the sign-up bonus worth $750
- Chase Ink Business Preferred: Points are worth 1.25 cents each, making the sign-up bonus worth $625
- Chase Ink Bold (no longer available to new applicants): Points are worth 1.25 cents each, making the sign-up bonus worth $625
- Chase Ink Plus (no longer available to new applicants): Points are worth 1.25 cents each, making the sign-up bonus worth $625
In addition to potential for more earnings with annual-fee Chase cards, many folks find even greater value by transferring their points to one of Chase’s many travel partners like United Airlines or Hyatt. The process to transfer Chase Ultimate Rewards points to travel partners is actually quite simple to do online.
Even if you don’t have one of these “premium” cards with an annual fee, the $500 sign-up bonus and solid earning on all purchases make this card worth considering!
4. No Annual Fee
There is no annual fee for the Ink Business Unlimited, making this a great option for those who don’t want to pay a fee to take advantage of a card’s rewards and benefits.
5. Doesn’t Count Towards Chase’s “5/24” rule
If you have opened 5 or more credit cards in the past 24 months (not including business cards from American Express, Bank of America, and others) Chase is unlikely to approve you for most of their cards. This makes many folks cautious of signing-up for new cards because they want to have options from Chase available in the future.
However, Chase does not count this product toward that limit because it’s one of their business cards. So applying for this card alone should not prevent eligibility for future Chase credit cards!
It is important to note that this card is IMPACTED by the “5/24” rule, so if you have opened 5 or more credit cards in the past 24 months (with business card exceptions noted above), it is unlikely you would be approved for this card.
6. Primary Rental Car Insurance
The Ink Business Unlimited offers primary car insurance when you use your card to pay for the rental and decline the rental car company’s collision coverage. The rental must be for business purposes and it only includes coverage on your rental vehicle, NOT damage to other vehicles or injuries.
Should You Apply For the Ink Business Unlimited Card?
The Ink Business Unlimited is a business card, so you must have some type of business to apply. However, you don’t need a large corporation to be eligible for a business card. Even things like providing paid child care, selling on eBay, or doing property maintenance could make you eligible!
If you don’t qualify for a business card, the Chase Freedom Unlimited is a very similar card but designed for personal purchases. The card also earns 1.5% cash back on purchases and the ability to transfer points to a “premium” Chase Ultimate Rewards card, however the sign-up bonus is only $150 vs. $500 with the Ink Business Unlimited. I have the Chase Freedom Unlimited and find this to be a great option for purchases that aren’t part of a bonus category on other cards.
If you prefer cash back and don’t have the ability to transfer to one of Chase’s premium cards, there could be better options for you. The Capital One® Spark® Cash for Business earns 2% cash back on all purchases making the return slightly higher.
Keep in mind, the Ink Business Unlimited charges foreign transaction fees, so this is NOT a good option for international purchases.
With a sign-up bonus of $500 (50,000 Chase Ultimate Rewards points) after meeting minimum spending requirements, no annual fee, 1.5% cash back on ALL purchases, and potential to transfer points to an annual-fee Chase card for even more value, the Ink Business Unlimited card is an enticing offer.
The welcome bonus is excellent for a no annual fee card, and the simple earning structure makes this worth hanging onto.
If you are eligible for a business card, this card is definitely worth considering. Remember, you don’t need a multi-million dollar corporation to qualify!