InkSM Classic Business - Card details and review

Expert's Rating:

Chase isn't shy about muscling in on the business expense market dominated by American Express. The company's offering enough bonus points on its "InkSM Classic Business" offer to cover at least $250 in cash rewards after your first purchase and you meet a minimum spending requirement. But you don't have to just settle for cash back on this business rewards credit card. The Ultimate Rewards program lets you trade points for the travel or merchandise your business needs. You'll improve your cash flow while earning cash back with this flexible, functional business credit card.

Bringing classic credit cards back to small business
Earlier versions of Chase Ink offered charge card functionality similar to that of the American Express green, gold and platinum cards. Chase recently revised its offering, leaving Ink Bold as a travel-oriented charge card and spinning Ink Classic and Ink Cash into more traditional rewards credit cards. Like Ink Cash, Ink Classic features a low introductory rate on balance transfers. The Ink cards transact on the Visa and MasterCard networks, though the bank doesn't reveal which platform your account will be on until after you apply.

Earning ultimate rewards fast with employee credit cards
You'll earn five points per dollar on your first $25,000 in annual expenses at office supply stores, and on cellular phone, landline, internet, and cable TV services. Gas and lodging expenses earn your team double points.

Tagging tools speed up expense reporting
Chase has launched a pair of innovative online services that you can use to streamline your company's accounting. Jot is a real-time smartphone app that gives your authorized cardholders the ability to tag and update expense reports from the field. Whenever an enrolled Ink Classic credit card makes a purchase, the linked user gets a prompt on their iPhone or Android device to add extra information about the transaction. From Chase's secure online website, you can download highly detailed reports that import directly into common accounting software.
Chase's companion web app, Blueprint, can help you break out certain purchase categories for immediate payment. You can even split up a statement, using Blueprint to calculate a repayment schedule for a larger company expense.

Credit Card Rate Information:

Purchase

Balance Transfer

Cash Advance

Index:

Prime

Margin:

6.99

15.99

APR:

10.24%

10.24% Variable

19.24% Variable

APR Floor:

N/A

Intro Rate:

0%

N/A

Intro Period:

12 months

N/A

Finance Calculation Method:

Daily balance method

Purchase Grace Period:

20 days

Default/Penalty APR:

29.99% Variable

Default/Penalty Margin:

26.74

Default/Penalty APR Floor:

N/A

Maximum Default APR:

29.99%

Penalty/Default Trigger:

Default APR will be applicable to your Account if you: fail to make any Minimum Payment by the date and time due (late payment); make a payment to Chase that is returned unpaid; or do any of the above or exceed your credit limit on another account or loan you have with Chase or any of their related banks.

Credit Card Fee Information:

Annual Fee:

None

Foreign Transaction Fee:

3%

Late Fee:

$15 if the balance is less than $100; $29 if the balance is $100 or more, but less than $250; and $39 if the balance is $250 or more

Over-the-limit Fee:

N/A

Balance Transfer Fee:

Either $5 or 3% of the amount of each transfer, whichever is greater.

Cash Advance Fee:

Either $15 or 5% of the amount of each transaction, whichever is greater.

Notes:

Rebate Description:

Special Notes:

0% Intro APR for 12 months on purchases and balance transfers.* Earn up to 25,000 bonus points - 10,000 bonus points after your first purchase, plus an additional 15,000 bonus points after you spend $5,000 in the first 3 months.

Card Issued By:

Chase

General Correspondence Address:

162 5th Avenue, 7th Floor, Columbus, OH, 43240

Card Type:

MasterCard

Card Class:

Signature

Card Category:

Low Intro Rate, Miles/Points

States Available In:

ALL