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Just because you're the owner of a small business doesn't mean you need to feel small. The Ink Plus® Business Credit Card from Chase is proof that big credit card rewards are out there for small business owners.
With a reasonable interest rate, highly attractive sign-up bonus and rewards that can add up quickly, the Ink Plus® Business Credit Card might be the perfect fit for a small business, or even a start-up, looking to do business like one of the "big boys."
Where this card really shines is with its ongoing rewards program and generous sign-up offer. As a way of saying "thank you" for signing up, the Ink Plus® Business Credit Card offers 60,000 bonus points after you make $5,000 in purchases during your first three months as a card member. In terms of real dollars, those 60,000 points are worth, for example, $750 toward travel expenses if redeemed through Chase Ultimate Rewards®.
Beyond that, the rewards continue to add up quickly, with five points per dollar on the first $50,000 spent in combined purchases at office supply stores and on cellular, landline, internet and cable TV services; two points per dollar on the first $50,000 spent in combined purchases at gas stations and hotel accommodations booked directly with the hotel; and one point per dollar on all other purchases with no limit to the amount you can earn.
Points can be redeemed for a variety of products and services, including cash back. If you redeem for cash back or gift cards, each point is worth $.01, meaning that 10,000 points is worth $100. If you redeem for travel through the Chase Ultimate Rewards® portal, however, your points are worth $.0125 each, which means that 10,000 points is worth $125 in travel.
In other words, this could certainly be a good candidate as your "go-to" card for business-related expenses.
And, for companies that do business overseas, the Ink Plus® Business Credit Card offers an added benefit by charging no foreign transaction fees.
Do you spend a lot of your time on the move? You'll want to download and take full advantage of the Ink Mobile App. You receive instant purchase alerts, are able to file receipts and manage employee spending on-the-go. If your business is centered on sales, this app is gold.
The card does have a $95 annual fee, which is higher than some cards of its type. But the variable APR of 15.49-19.49 percent makes Ink Plus® Business Credit Card competitive when it comes to carrying a balance (which, let's face it, can happen from time to time). That same APR also applies to balance transfers.
You really can't say enough about the sign-up bonus and perks program offered by the Ink Plus® Business Credit Card. The 60,000 bonus points can literally pay for an entire business trip after just three months with the card. And the points structure, even with the $50,000 cap in the higher categories, could certainly be lucrative for a small business or a start-up trying to stretch every dollar and that spends frequently in the high-rewards categories.
This card is particularly helpful for the small business that does a bit of travel given that rewards are worth more when redeemed for travel through the Chase portal. Furthermore, even if your business takes you abroad, the Ink Plus® Business Credit Card is a good option since it doesn't charge foreign transaction fees.
When we say, "small business," we are including sole proprietorships. Ink Plus® Business Credit Card can rack up huge bonus points for the expenses that a "mom and pop" or a one-person operation have on a regular basis, including gas, internet, cell phone, office supplies, etc. But at the same time, Chase Ink Plus offers key perks for the growing business, such as those free cards for employees and no foreign transaction fees.
It's easy to love the remarkable flexibility of the Ink Plus® Business Credit Card rewards program when it comes to travel. Not only can you redeem your points directly through Chase Ultimate Rewards®, you can also transfer them, point for point, to a number of airline frequent flyer and hotel loyalty programs, including:
British Airways, Korean Air, Singapore Airlines, Southwest Airlines, United Airlines, Virgin Atlantic
Hyatt Gold Passport, IHG, Marriott Rewards, Ritz-Carlton Reward
A quality aspect of the Ink Plus® Business Credit Card that many consumers overlook when it comes to credit cards is insurance. The Ink Plus® Business Credit Card offers
If you are a large corporation, the $50,000 cap on the five-times and two-times points tiers might be reached very quickly and you could have several months of flat one-point-per-dollar spent usage each year. Sure, it's still earning you rewards, but not at the bonus levels.
Additionally, if your particular business isn't one that spends disproportionately in the bonus categories, this probably isn't the card for you as you might have trouble offsetting the $95 annual fee.
Lastly, there isn't an introductory zero-interest period offered with the Ink Plus® Business Credit Card, either for purchases or balance transfers. If you're looking to make a large purchase and enjoy several months of paying it off interest-free, or perhaps you need to consolidate some existing credit card business debt, this card won't help you.
Ink Plus® Business Credit Card vs. Capital One® Spark® Cash for Business
Capital One® Spark® Cash for Business has $0 annual fee for the first year and $59 per year after that, so you'll come out ahead based strictly on the annual fees. But the rewards programs are structured differently and your particular type of spending will likely be the decision-maker between these two.
Capital One® Spark® Cash for Business offers a cash-back rewards program that allows cardholders to earn 2 percent cash back across the board on all types of business expenses with no cap. Depending on where you do the bulk of your business spending, the Capital One® Spark® Cash for Business could offer a better reward return.
When it comes to sign-up offers, the Capital One® Spark® Cash for Business offers new cardholders a $500 cash bonus after you spend $4,500 on purchases within the first three months.
Ink Plus® Business Credit Card vs. Bank of America® Cash Rewards for Business MasterCard® credit card
The Bank of America® Cash Rewards for Business MasterCard® credit card has no annual fee and offers a tiered rewards program that features 3 percent cash back on gas and office supplies, 2 percent at restaurants and 1 percent on other purchases. In addition, it currently features the opportunity to earn a $200 statement credit after making $500 in purchases within 60 days of account opening.
If you're looking to make a large purchase and pay it off over time, the Bank of America® Cash Rewards for Business MasterCard® credit card's introductory 0 percent APR on purchases for the first nine billing cycles could certainly be a deciding factor. Ultimately, you'll want to look beyond the intro offers, however, to the reward structures and whether your particular spending habits align better with the Bank of America® Cash Rewards for Business MasterCard® credit card or the Ink Plus® Business Credit Card.
Ink Plus® Business Credit Card vs. U.S. Bank Business Edge™ Cash Rewards World Elite™ MasterCard®
The U.S. Bank Business Edge™ Cash Rewards World Elite™ MasterCard® has no annual fee, which is always attractive, and is another card that features a tiered rewards program. In this case, you'll earn 3 percent on gas, office supplies and cellular services and 1 percent on all other purchases. The big bonus here, however, is that cardholders are eligible for a 25 percent bonus annually, up to $250, based on the cash back you've earned throughout the year.
It offers a modest $150 cash back bonus after your first $500 in purchases within 90 days of opening your account but also includes a 0 percent APR on purchases for the first nine billing cycles. If you know you'll spend more in the bonus categories than the Ink Plus® Business Credit Card's $50,000 cap, you could stand to earn even more rewards with the 3 percent offered by this card.
If you spend a good deal of money on office supplies and telecommunications, Ink Plus® Business Credit Card is an excellent card for you due to its attractive rewards program.
Those who do business overseas or do a great deal of traveling on business will definitely want to add the Ink Plus® Business Credit Card to their wallet as the rewards points receive a healthy boost when redeemed for travel through Chase Ultimate Rewards®. Plus, points are transferable to loyalty programs of several airlines and hotel chains.
If you are a small business or even a start-up, looking to stretch your budget, the Ink Plus® Business Credit Card could be your go-to business credit card.