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Small Business credit cards are a bit of a special animal in the credit card world. Unlike what we call “personal” cards, some cards like the new Chase Ink Business Unlimited that are tagged as “business” cards do require you to have a business to apply. You’ll be asked for business identifier (SSN or EIN), business income, years in business and other things about your business on your Chase Ink Business Unlimited application. I’m lucky to have a couple of businesses, but you might have a business too, even if you don’t think you do.
Chase Ink Business Unlimited review
(Key Link: Compare the Chase Ink Business Unlimited with other cards here)
Chase Ultimate Rewards are one of the best types of miles and points currencies out there – because it’s a transferrable currency, it’s able to be transferred to a variety of miles and points partners, which helps insulate it from devaluations.
Plus it’s easier than others to get a lot of – including the Chase Sapphire Preferred, Sapphire Reserve, Ink Plus, Ink Cash, Freedom, Freedom Unlimited (see a comparison of Chase cards here). And now Chase has introduced the Chase Ink Business Unlimited
The Chase Ink Business Unlimited has 3 things going for it
- First, a welcome offer of 50,000 Ultimate Rewards after spending $3000 in the first 3 months
- 1.5 Ultimate Rewards per dollar spent
- No annual fee
And that’s…. pretty much it. No frills, no category bonuses. Just a solid welcome offer, a solid earn for your everyday spend, and no annual fee. This is very similar to the Chase Freedom Unlimited card, but with a much bigger welcome offer. It’s not clear if this card falls under the Chase 5/24 rule, but I would imagine yes.
Combining Chase Ultimate Rewards from your Chase Ink Business Unlimited
Since the Chase Ink Business Unlimited card is not considered a “premium” card, its points are only worth 1 cent when considered by themselves. However, if you already HAVE a premium card (like the Sapphire Preferred or Ink Plus for example), then you are able to (at least for now!) combine all your Chase Ultimate Rewards into one account.
So your 1.5x for every dollar spent, if transferred to an account with the Sapphire Reserve (where you can REDEEM for 1.5 times), would give you 2.25% back on purchases through the Chase Ultimate Rewards portal. And of course if you transfer them to travel partners, you can often get even MORE value.
Is the Ink Business Unlimited the best business card out there?
I think the new Chase Ink Business Unlimited card has a case for the best business card out there. Here’s a quick look at some of the other contenders
- Chase Ink Preferred – higher welcome offer ( 80,000 Ultimate Rewards), 3x category bonuses but only 1x on every day spend and a $95 fee (compare the Ink Preferred to other business cards here)
- Chase Ink Cash – same welcome offer of 50,000 Ultimate Rewards, but only 1x on everyday spend and 5x on certain categories and no annual fee. Comparing the Ink Cash to the Ink Business Unlimited will depend on how much of your regular spend is in these bonus categories (compare the Ink Cash to other business cards here)
- American Express Blue Business Card – no annual fee, 2x Membership Rewards on every purchase and a 10,000 Membership Rewards bonus (compare the American Express Blue Business card to other cards here)
- American Express Business Platinum card – this card has a $450 annual fee but comes with a variety of premium benefits (but only 1x on everyday spend, though there are bonuses in some categories and for large purchases). There is currently a signup bonus of 100,000 Membership Rewards (find out more details on this card here)
What do you think? Where does the new Chase Ink Business Unlimited card fall in the list of best business cards out there? Leave your thoughts in the comments