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Chase Ink business credit cards continue to change frequently. The Ink Bold, Ink Plus, and Ink Classic cards have all been discontinued, but Chase has been adding new Ink cards to take their place.
Chase has now launched the no annual fee Ink Business Unlimited Card with a limited time $500 or 50,000 point signup bonus for spending $3,000 in 3 months.
Cash back or points?
This card is marketed as a cash back card, which is why it says it has a $500 signup bonus. Don’t be fooled by that, in fact it earns Chase Ultimate Rewards points that can be cashed out for 1 cent each and you will receive 50,000 points for signing up.
Besides for not having an annual fee and an awesome signup bonus, the Chase Ink Business Unlimited Card can be used in place of the Freedom Unlimited card as part of my Chase Quadfecta and is highly recommended for anyone trying to maximize their spending.
That’s because similar to the consumer Chase Freedom Unlimited card, the Chase Ink Business Unlimited Card will earn 1.5 points per dollar everywhere.
Both the Chase Ink Business Unlimited Card and the Chase Freedom Unlimited card are marketed as cash back cards, but they actually earn Chase Ultimate Rewards points that can be cashed out for 1 cent each. Don’t do that. While this card can’t transfer points into miles, Chase allows you to transfer points to cards where they can be transferred into miles or redeemed for a greater value.
My goal is to receive a value of 2 cents per point via transfers to miles and that makes spending on this card worth 3% back. If you have a Sapphire Reserve card the minimum value you can receive for your points is 1.5 cents each, which makes spending on this card worth a minimum of 2.25% back. That makes the 50K signup bonus worth between $750-$1,000.
There are several major advantages of the Ink Business Unlimited card over the Freedom Unlimited card:
- The Freedom Unlimited card offers a $150 or 15K signup bonus versus the $500 or 50K signup bonus on the Ink Business Unlimited Card.
- The Ink Business Unlimited card offers 0% APR on purchases and balance transfers for 12 months and carrying a balance on this card won’t hurt your personal credit score, as described in the next section.
- The Ink Business Unlimited card has all of the major advantages of a business card, as described in the next section.
- This card is also eligible for additional cash back via Visa Savings Edge. That means you can get points plus cash back at Chevron, Sheetz, AutoZone, Texaco, Boost Mobilem Alamo, National, MGM hotels, Lenovo, Wyndham hotels etc.
Business card information, benefits, and 5/24:
This is a business card, but you may already have a business that needs a card to keep track of expenses. For example if your name is Joe Smith and you sell items online, or if you have any other side business and want a credit card to better keep track of business expenditures you can open a business credit card for “Joe Smith” as the business. You don’t need to file any messy government paperwork to be allowed to do that. Just be sure to select “Sole Proprietorship” as the business type and just use your social security number in the Tax Identification Number field.
It’s important to just write your own name as the business name if you are just applying for your own small business as a Sole Proprietorship that doesn’t have any business paperwork.
If you’re like me and you run more than one business you can signup for multiple of the same card for each business to manage each businesses expenses separately.
All Chase cards that earn Ultimate Rewards are subject to 5/24 restrictions, read more about that here.
However, it’s important to note that business cards from most banks, including Chase business cards, do not get added to your 5/24 count of recently opened cards. That’s because business cards from most banks don’t show up on your personal credit report and the 5/24 count is based off of your personal credit report.
Another benefit of this card not reporting on your personal credit report is that when you spend money on personal cards your credit score will be hurt even if you pay your bill on time. A whopping 30% of your credit score is based on credit utilization. You can pay off your card bill before your statement is generated to avoid that, but that takes effort and laying out money well before you have to. Additionally it’s good to have the statement close with a couple dollars to show the card is active and being paid every month.
On business cards from banks like AMEX and Chase it’s just not reported, so you can wait until the money is due without it having a negative effect on your score. That also means if you close the card, it won’t have an effect on your credit score.
If you or anyone in your household has one of the following cards, you can transfer your points into miles:
Ultimate Rewards points can be combined between all of the Chase cards that you, your spouse, or additional users have.
Cards that allow all of your Chase points to be transferred into airline miles and hotel points include:
- Chase Sapphire Reserve (Earn $500 or 50K points for spending $4K in 3 months. $450 annual fee, less $300 annual free travel spend=$150 net annual fee. Allows all points to be used at a value of 1.5 cents each towards travel).
- Chase Sapphire Preferred (Earn 50K points for spending $4K in 3 months. $95 annual fee waived for first year).
- Chase Ink Business Preferred (Earn 80K points for spending $5K in 3 months. $95 annual fee).
Other no annual fee Chase cards that also earn Ultimate Rewards points include:
- Chase Freedom
- Chase Freedom Unlimited
- Chase Ink Cash
Why I prefer miles over cash back: Chase Ultimate Rewards are highly versatile and valuable:
- If I want to stay in a 5 star Park Hyatt in the Maldives, Melbourne, NYC, Paris, Sydney, or Tokyo that would cost over $1,000/night, I can instantly transfer 25-30K points to Hyatt to do that, a value of up to 6 cents per point.
- If I need a last minute flight from Cleveland (or Chicago, Detroit, Miami, Montreal, Orlando, Pittsburgh, Toronto, etc) to NYC that can cost $500 each way, I can instantly transfer 7.5K points to British Airways to book a short-haul on American with no last minute booking fees. Or if American doesn’t have availability I can instantly transfer 10K points to United for their short-haul award. That’s a value of up to 7 cents per point.
- If I want to stay in a non-chain hotel that costs $300/night and don’t want to pay cash, I can redeem 20K points for the room thanks to my Sapphire Reserve card’s minimum redemption value of 1.5 cents per point.
- If I want to fly in a $25,000 ANA First Class Suite round-trip from the US to Tokyo, I can instantly transfer 110K or 120K points to Virgin Atlantic. That’s a value of up to 23 cents per point.
- If I want to book a $2,285 business class ticket on Air Canada to Tel Aviv I can redeem 152K points for the flight thanks to my Sapphire Reserve card’s minimum redemption value of 1.5 cents per point. Plus I’ll earn 25K United miles as it’s considered a paid flight.
- If I want to fly in a $11,000 Korean first class suite one-way from the US to South Korean, I can instantly transfer 80K points to Korean and take advantage of their amazing award availability. That’s a value of up to 14 cents per point.
- And thousands of other possibilities from Singapore couples suites to booking Southwest awards with 2 free bags and free cancellations, to stealing 2nd base in middle of an MLB game.
Will you be signing up for an Ink Business Unlimited card?