Is Ink Business Unlimited worth it?

Do you want a business credit card that offers unlimited fixed cash rewards on every purchase? Are you interested in business benefits such as rental car insurance, purchase protection and signup bonus that you can use to grow your business? The Ink Business Unlimited® Credit Card may be just what your small business is looking for.

Ink Business Unlimited is a Chase credit card designed for small business owners looking for a business credit card with low operating costs and high rewards. Because Ink Business Unlimited earns 1.5 percent on every purchase, you can spend less time thinking about rewards and more time using your card to take your business to the next level. We called the Chase Ink Business Unlimited “set it and forget it” credit card and stick with it. But that doesn’t mean you shouldn’t take the time to learn about everything Ink Business Unlimited has to offer.

Should I buy an Ink Business Unlimited card? We think so, but here’s what you need to know to make your own decision.

When is Ink Business Unlimited worth it?

Do you prefer a flat cashback rate?

Small business owners who want a flat rate cashback have many reasons to apply for Chase Ink Business Unlimited. With an unlimited 1.5 percent cashback on every purchase, you can use your Ink Business Unlimited to make business purchases across all possible spending categories without worrying about spending limits, bonus categories, or a cash-back maximizing strategy.

You want to use the $900 welcome bonus to grow your business

The Chase Ink Business Unlimited signup bonus gives a $900 back bonus to cardholders who spend $6,000 within the first three months of card ownership. This is the highest welcome bonus offered by an Ink Business Unlimited card and also one of the best signup bonuses available on a business credit card with no annual fee. If you are a small business owner, you can probably think of many ways to use that extra $900 to grow your business.

You want to earn Chase Ultimate Rewards points

When you refund to your Chase Ink Business Unlimited card, your rewards accumulate in the form of Chase Ultimate Rewards points. This gives you plenty of flexibility in terms of redemption options, whether you’re exchanging your rewards for statement credits, depositing them into a company checking account, or using Chase Ink Business Unlimited cashback for Apple purchases.

You can also transfer your Ultimate Rewards points to another Chase card to increase the value of your rewards. For example, if you have a Chase Sapphire Preferred Card, you can convert your Ink Business Unlimited Rewards to a Sapphire Preferred Card and increase the value of those rewards by 25 percent when you use them to book travel through Chase Ultimate Rewards.

You are looking for a business credit card with a 0% annual interest rate.

Your Chase Ink Business Unlimited benefits include 12 months of 0 percent starting APR on purchases (then regular variable APR from 16.24 to 22.24 percent) to grow your business without interest. You must pay off your balance before the initial annual turnover expires to avoid interest charges, but most small business owners should be able to create budget and cash flow projections that get the job done.

Do you want a credit card with no annual fee?

Want another reason to consider Chase Ink Business Unlimited? Unlike other popular business credit cards, Ink Business Unlimited does not charge an annual fee. This gives you even more opportunities to save money or put money you may have spent on an annual fee into growing your business.

When is Ink Business Unlimited not worth it?

You don’t have a credit score to qualify

The Chase Ink Business Unlimited card is best for people with good or excellent credit history. This means that your FICO credit score must be at least 640 before you apply, and if you can get your FICO credit score up to 740, that’s even better. Once your credit score exceeds 740, you will move into the “very good” category and be more likely to be approved for the Chase Ink Business Unlimited card.

You have already opened too many credit cards

Chase is known for its 5/24 rule, which means that credit card applications that have opened more than five new credit cards in the past 24 months are likely to be rejected. The 5/24 rule applies to all credit cards, not just Chase cards, so if you’ve recently opened a lot of new credit cards, you may want to delay applying for Chase Ink Business Unlimited.

You can get more rewards with another Ink Business card.

Ink Business Unlimited isn’t the only business credit card Chase offers. Small business owners should take the time to review Chase’s Ink Business credit cards before deciding which option is best for them.

The Ink Business Cash® credit card, for example, is an annual fee-free card that offers a 5 percent cash back on office supplies, cable TV, Internet, and phone services for the first $25,000 spent in a year and a 2 percent cash back money for gas and food. on the first $25,000 spent per year. All other purchases earn unlimited 1% cashback – and you still have the opportunity to earn that $900 signup bonus if you spend $6,000 within the first three months of card ownership.

Should I buy Ink Business Unlimited?

If you’re looking for the best business credit card that offers unlimited cash back of 1.5% on every purchase, a decent zero interest rate on purchases, and no annual fee, this is worth considering. This card is easy to use and has a constant value.

You can also consider other fixed rate business credit cards such as Capital One Spark Cash Plus. Spark Cash Plus offers a 2 percent cash back on every purchase and a 5 percent cash back on hotels and car rentals booked through Capital One Travel. It also gives you the opportunity to earn a $1,000 cash bonus ($500 if you spend $5,000 in the first three months, plus an additional $500 if you spend $50,000 in the first six months), but you will pay $150 per year. . privilege.

Do the math to determine which card might be the best choice for your business. Will you make enough money with Capital One Spark Cash Plus to justify the $150 annual fee? Or are you better off using plain Ink Business Unlimited?

bottom line

Is Ink Business Unlimited worth it? For many small business owners, the answer is yes. After evaluating all the benefits of the Chase Ink Business Unlimited credit card, you will understand if it is right for your business and learn exactly how you can use Ink Business Unlimited to help your business. business is growing.

Nicole Dicker is a freelance writer specializing in personal finance and habit formation. She spent five years as a writer and editor on The Billfold, a personal finance site where people talk candidly about money, and she regularly teaches classes on how to increase your income as a freelancer.