Chase Ink Business Unlimited® Credit Card Review

As a financial expert with years of experience in the personal finance and credit card industry, I have had the opportunity to review countless credit cards tailored to both personal and business needs. Today, I will be diving into a detailed review of the Chase Ink Business Unlimited® Credit Card, one of the most popular business credit cards on the market. This card offers a compelling cashback reward structure, a generous sign-up bonus, and a variety of additional perks that make it a strong contender for any business owner looking to optimize their finances.

Chase Ink Business Unlimited® Credit Card Review

The Chase Ink Business Unlimited® Credit Card is specifically designed to meet the needs of business owners by providing straightforward, unlimited cashback rewards on every purchase. This card is an excellent option for businesses that have varied spending categories and prefer the simplicity of a flat-rate rewards structure. Let’s delve into the specifics.

Key Features

– Cashback Rewards: Earn 1.5% cash back on every purchase made for your business.
– Sign-Up Bonus: Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
– Introductory APR: Enjoy a 0% Intro APR on purchases for the first 12 months that your account is open. After that, a variable APR of 18.49% – 24.49% applies.
– Annual Fee: $0
– Travel and Emergency Assistance: Includes Auto Rental Collision Damage Waiver, Travel and Emergency Assistance Services, and Roadside Dispatch.

Chase Ink Business Unlimited® Key Takeaways

The Chase Ink Business Unlimited® Credit Card stands out for several reasons. Here are the key takeaways:
– Uncomplicated Cash Back: The card offers a flat rate of 1.5% cash back on all purchases, making it simple to earn rewards without the need to track spending categories.
– Generous Sign-Up Bonus: The $750 bonus cash back after spending $6,000 in the first three months is a significant incentive for new cardholders.
– No Annual Fee: The absence of an annual fee makes this card a low-cost option for businesses of all sizes.
– Introductory APR: The 0% Intro APR for the first 12 months on purchases can help businesses manage cash flow and finance larger expenses without incurring interest charges.
– Travel Benefits: The card includes valuable travel-related perks, such as Auto Rental Collision Damage Waiver and Travel and Emergency Assistance Services.

Chase Ink Business Unlimited® Pros and Cons

Pros

1. No Annual Fee: One of the standout features of the Chase Ink Business Unlimited® Credit Card is that it has no annual fee. This makes it an attractive option for small businesses and startups looking to minimize expenses.
2. Flat-Rate Cash Back: The 1.5% cash back on every purchase is straightforward and easy to understand. Unlike other business credit cards that offer higher rewards in specific categories, this card keeps it simple by offering a consistent rewards rate.
3. Generous Sign-Up Bonus: The $750 bonus cash back after spending $6,000 in the first three months is a substantial reward that can provide a significant return on initial spending.
4. Introductory APR: The 0% Intro APR on purchases for the first 12 months is a valuable feature for businesses that may need to make large purchases and want to spread out payments without incurring interest.
5. Travel and Emergency Assistance: The card offers several travel-related benefits, including Auto Rental Collision Damage Waiver and Travel and Emergency Assistance Services, which can be valuable for business travelers.

Cons

1. Foreign Transaction Fee: One downside of the Chase Ink Business Unlimited® Credit Card is the foreign transaction fee. This can be a drawback for businesses that frequently make purchases outside of the United States.
2. Balance Transfer Fee: The card charges a fee for balance transfers, which can be either $5 or 5% of the amount of each transfer, whichever is greater. This can add up if you plan to transfer a large balance.
3. Cash Advance APR: The APR for cash advances is quite high at 29.99% variable. This makes cash advances an expensive option and should generally be avoided.
4. Limited High-Tier Rewards: While the 1.5% flat-rate cash back is straightforward, some businesses may benefit more from cards that offer higher rewards in specific categories such as office supplies, travel, or dining.

Chase Ink Business Unlimited® Benefits

The Chase Ink Business Unlimited® Credit Card offers a range of benefits beyond its cashback rewards and sign-up bonus. These benefits can add significant value to the card, making it a well-rounded option for business owners.

Rewards Program

The primary benefit of the Chase Ink Business Unlimited® Credit Card is its rewards program. Cardholders earn unlimited 1.5% cash back on every purchase made for their business. This simple and straightforward rewards structure is ideal for businesses with varied spending categories, as it eliminates the need to track specific categories to maximize rewards.

Sign-Up Bonus

New cardholders can earn a generous $750 bonus cash back after spending $6,000 on purchases in the first three months from account opening. This sign-up bonus is one of the most competitive in the market and can provide a significant return on initial spending.

Introductory APR

The card offers a 0% Intro APR on purchases for the first 12 months from account opening. This introductory APR can be particularly beneficial for businesses that need to make large purchases upfront and prefer to pay them off over time without incurring interest charges. After the introductory period, the APR will be a variable rate of 18.49% – 24.49%.

Travel Benefits

The Chase Ink Business Unlimited® Credit Card includes several travel-related benefits that can be valuable for business travelers:
– Auto Rental Collision Damage Waiver: Cardholders can decline the rental company’s collision insurance and charge the entire rental cost to their card. Coverage is primary when renting for business purposes and provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.
– Travel and Emergency Assistance Services: If you run into a problem away from home, you can call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance. This service can provide peace of mind and support during travel emergencies.
– Roadside Dispatch: In the event of a roadside emergency, cardholders can call 1-800-847-2869 anytime to dispatch the help they need. Services include towing, jumpstarts, tire changes, lockout service, winching, and gas delivery. Roadside service fees will be provided when you call and will be billed to your card.

Purchase Protection

The card offers several protections for purchases made with the card:
– Purchase Protection: Covers new purchases for 120 days against damage or theft, up to $10,000 per claim and $50,000 per account.
– Extended Warranty Protection: Extends the time period of the U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less.

Fraud Protection

Chase provides robust fraud protection for cardholders. This includes real-time fraud monitoring, zero liability protection for unauthorized charges, and 24/7 customer service support.

Payment Flexibility

The Chase Ink Business Unlimited® Credit Card offers flexible payment options, allowing businesses to manage their cash flow more effectively. Cardholders can choose to pay their balance in full each month to avoid interest charges or make minimum payments and carry a balance if needed.

Rates and Fees

Understanding the rates and fees associated with the Chase Ink Business Unlimited® Credit Card is crucial for managing your business finances effectively:
– Purchase Intro APR: 0% Intro APR for the first 12 months that your Account is open.
– Purchase APR: 18.49% – 24.49% Variable APR.
– Balance Transfer APR: 18.49% – 24.49% Variable.
– APR for Cash Advances: 29.99% Variable.
– Annual Fee: $0.
– Fees for Balance Transfers: Either $5 or 5% of the amount of each transfer, whichever is greater.
– Fees for Cash Advances: Either $15 or 5% of the amount of each transaction, whichever is greater.
– Penalty Fees: 29.99% for return payment and late payment fees of up to $40.

Conclusion

The Chase Ink Business Unlimited® Credit Card is an excellent option for business owners looking for a straightforward, no-annual-fee credit card with a competitive cashback rewards program. Its 1.5% cash back on all purchases, generous $750 sign-up bonus, and 0% Intro APR on purchases for the first 12 months make it an attractive choice for businesses of all sizes.
While the card does have a few drawbacks, such as the foreign transaction fee and high APR for cash advances, its benefits far outweigh these cons for most business owners. The travel-related perks, purchase protections, and robust fraud protection add significant value to the card, making it a well-rounded option for business finances.
If you are a business owner looking for a versatile and rewarding credit card, the Chase Ink Business Unlimited® Credit Card is definitely worth considering. Its combination of cashback rewards, a generous sign-up bonus, and valuable benefits make it a strong contender in the business credit card market.