Chase offers several credit cards that earn valuable Ultimate Rewards® points. One of the best rewards credit cards for everyday spending is the Ink Business Unlimited℠ Credit Card. It earns unlimited 1.5% cash back on every dollar that you spend. Here are some things you should know before getting this credit card.
Earn unlimited 1.5% cash back per dollar spent
When you use the Ink Business Unlimited℠ Credit Card, you’ll receive 1.5% cash back per dollar spent. There are no caps to the cash back you can earn. You do not have to register to earn these rewards and there are no bonus categories to remember.
On the flip side, there are no bonus categories for increased rewards. Many rewards credit cards offer additional miles or points for purchases of travel or at restaurants, office supply stores or gas stations, to name a few. That’s why some small-business owners have multiple rewards credit cards in order to maximize the rewards they earn.
Earn the sign-up bonus
New cardholders can earn the following sign-up bonus: Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening. Your bonus will post to your account as 50,000 Chase Ultimate Rewards® points.
This is not just a cash back card
Although the Ink Business Unlimited℠ Credit Card is advertised as a cash back card, the rewards are actually Ultimate Rewards® points. These points can be redeemed for statement credits, a deposit to your bank account, travel, gift cards or Apple purchases. The points are worth 1 cent each for cash back and travel. Value received for gift cards and Apple purchases may vary.
How to get more value from your points
Rewards earned from the Ink Business Unlimited℠ Credit Card can be transferred to other credit cards that earn Ultimate Rewards® points. Points can be transferred among these Chase credit cards on a 1:1 basis with no fees.
When you transfer points to the Chase Sapphire Preferred® Card and Ink Business Preferred® Credit Card, they are worth 1.25 cents toward travel through the Ultimate Rewards® portal. Points are worth 1.5 cents each when transferred to the Chase Sapphire Reserve®.
Points moved to any of these three credit cards can also be transferred to 13 hotel and airline partners on a 1:1 basis with no fees. Partners include World of Hyatt, Emirates Skywards and Singapore Airlines KrisFlyer.
Employee cards are free
Business owners can add employee credit cards at no additional charge. Each employee will have their own credit card number so you can easily track their purchases. Individual credit limits can be set for each employee to limit risk. All purchases made by employees earn rewards like the primary cardholder.
Introductory APR on purchases
This card offers an APR of 0% on Purchases for 12 months, and then the ongoing APR of 14.74% - 20.74% Variable APR. This means that you will not be charged interest on your purchases if you carry a balance during the first year. Once the introductory period expires, your rate will return to the standard rate based on your creditworthiness.
Travel and purchase benefits are included
When you use the Ink Business Unlimited℠ Credit Card for your purchases, it offers valuable complimentary protections. You’ll receive primary rental car protection against theft or damage when renting for business purposes. This rental car coverage is primary, so you won’t need to involve your personal insurance carrier in case of a claim.
Your purchases are also covered with purchase protection and an extended warranty. New purchases are covered for 120 days against damage or theft. The coverage is up to $10,000 per claim for a total of $50,000 per account. Eligible U.S. manufacturer warranties of three years or less are also extended by an additional year.
It charges foreign transaction fees
While there are many positive features of this credit card, this one is a negative. When you make an international purchase, you will be charged a 3% foreign transaction fee. These fees add extra expense to your transactions and can add up quickly. Keep this in mind if you are traveling internationally or making a purchase from a vendor in another country.
No annual fee
Many rewards credit cards with all of these features charge an annual fee, but the Ink Business Unlimited℠ Credit Card‘s annual fee is $0. As mentioned above, there is no charge to add employee cards either.
The bottom line
If you’re planning to apply for the Ink Business Unlimited℠ Credit Card, it pays to know what benefits it offers. There are many valuable benefits offered that are attractive to business owners, such as unlimited 1.5% rewards, sign-up bonus and free employee cards.
How to maximize your rewardsYou want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2020, including those best for:
- Airline miles and a large bonus: The Chase Sapphire Preferred® Card
- No annual fee: The Wells Fargo Propel American Express® card
- Flat-rate rewards with no annual fee: The Bank of America® Travel Rewards credit card
- Premium travel rewards: The Chase Sapphire Reserve®
- Luxury perks: The Platinum Card® from American Express
- Business travelers: The Ink Business Preferred® Credit Card
Planning a trip? Check out these articles for more inspiration and advice:
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5 things to do when you get the Chase Ink Business Preferred card