Chase Ink Business Unlimited^SM Review 2019

 

 

 

 

Chase Ink Business Unlimited^SM is a solid, if unspectacular fixed-rate rewards credit card that offers 1.5% cash back on all spending. This no-annual-fee card really shines when it comes to introductory rewards, worth $500. You’ll also pay no interest for 12 months on purchases, then as little as 14.74% APR.

The best cash-back business credit cards that offer fixed-rate rewards pay up to 2% cash back on everyday spending. They also offer introductory rewards of as much as $500 and introductory 0% APR on purchases for 12 months or longer. This Chase card ranks among the best small business credit cards in two of these three areas. After assessing its costs and benefits, we give Chase Ink Business Unlimited^SM 4 stars out of 5 stars possible.

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How We Evaluated Chase Ink Business Unlimited^SM

Chase Ink Business Unlimited^SM offers top introductory rewards worth $500 cash back after you spend $3,000 within three months. It charges no annual fee. Capital One® Spark® Cash for Business pays 2% on purchases and also offers a $500 cash bonus, but you’ll have to spend $5,000 on purchases within the first three months and earn 150,000 bonus miles when you spend $50,000 in the first 6 months of your account opening. The Capital One card charges an annual fee of $95, waived the first year.

We considered the following criteria when grading this small business credit card that offers fixed-rate cash-back rewards:

• Ongoing rewards: The cash back you’ll earn by using the Chase Ink Business Unlimited^SM card. You’ll earn 1.5% cash back on all spending.
• Introductory rewards: The cash back you’ll earn by reaching minimum spending requirements over the first few months of card ownership. The Chase Ink Business Unlimited^SM card offers $500 cash back after you spend $3,000 within three months.
• Annual fee: How much you’ll pay each year to own the card. The Chase Ink Business Unlimited^SM card charges no annual fee.
• Additional benefits: Whether the card comes with free perks that may increase its value. The Chase Ink Business Unlimited^SM card offers free perks like rental car insurance, purchase protection, and extended warranty protection.
• Introductory APR: Whether the card offers a period of no-interest financing on purchases or balance transfers. The Chase Ink Business Unlimited^SM card offers 0% introductory APR for 12 months on purchases.
• Ongoing APR: How much it will cost to finance purchases on the card. This card charges an ongoing APR as low as 14.74%, which is about average for a small business credit card that offers rewards.

The Chase Ink Business Unlimited^SM card is on our list of the best small business credit cards. It offers lucrative introductory rewards without charging an annual fee. This card becomes even more valuable when you pair it with a Chase card that’s part of the issuer’s Ultimate Rewards program. You could transfer rewards earned with this card to your Chase Ink Business Preferred^SM account to redeem rewards at a higher rate — nearly two cents per dollar on travel.

How We Evaluate Cash Back Business Credit Cards

When grading cash back business credit cards like the Chase Ink Business Unlmited^SM, we weight ongoing rewards heaviest. We rate introductory rewards as slightly less important, but they still are the second biggest factor in grading a card. We also take into account the annual fee, introductory and ongoing APRs and card benefits. This Chase small business card offers excellent introductory rewards, as well as a strong 12-month interest-free period.

We graded Chase Ink Business Unlimited^SM using the following methodology:

Based on our 5-star rating system where 20 points equals one star, Chase Ink Business Unlimited^SM would need to improve its ongoing rewards slightly to earn a boost in our star-rating system. In cases where cards receive perfect scores in most categories, we may award bonus points to boost the card’s rating.

The best fixed-rate cash back business credit cards pay up to 2% cash back on all spending. They also offer introductory rewards of as much as $500 and introductory 0% APR on purchases for 12 months or longer. This Chase small business card ranks just below the best cards when it comes to ongoing rewards.

Who Chase Ink Business Unlimited^SM is Right For

The Chase Ink Business Unlimited^SM card is best for owners who want a card that offers fixed-rate rewards on all spending without having to pay an annual fee. This card also is ideal for business owners who own other personal or business Chase credit cards that are part of the Ultimate Rewards program, like the Chase Sapphire Reserve card. Transfer rewards to these cards to receive a higher redemption value when booking travel.

Chase Ink Business Unlimited^SM Costs

The Chase Ink Business Unlimited^SM card is one of the best 0% APR business credit cards because it offers free financing for 12 months on purchases. Even so, you’ll pay a higher balance transfer fee than other cards charge.

Financing costs and fees on the Chase Ink Business Unlimited^SM card include:

• Introductory APR: 0% APR for 12 months on purchases
• Ongoing APR: 14.74% to 20.74% variable, which will adjust with the prime rate
• Annual fee: None
• Balance transfer fee: Either 5% of the amount of the transfer or $5, whichever is greater
• Foreign transaction fee: 3% for purchases made outside the U.S.
• Cash advance fee: 5% of the advance or $15, whichever is greater
• Late payment fee: $39
• Returned payment fee: $39
• Penalty APR: None

If you have to carry a balance, you’ll find cards that offer cheaper financing. The Bank of America® Business Advantage Cash Rewards Mastercard® charges an ongoing APR about two percentage points lower.

How to Avoid Paying Interest on Chase Ink Business Unlimited^SM

Your payment due date on the Chase Ink Business Unlimited^SM is at least 20 days after the close of the business cycle, which is when you receive your bill. Pay your balance in full by the due date to avoid interest charges. This card doesn’t carry a minimum interest charge.

Chase Ink Business Unlimited^SM Rewards

The Chase Ink Business Unlimited^SM card offers fixed-rate cash back on all spending. It also offers the best introductory rewards available from a card that charges no annual fee. It’s introductory offer is identical to another Chase business credit card, the Chase Ink Business Cash^SM card.

Introductory Rewards

You can earn the following introductory rewards when using your card:

• $500 cash back when you spend $3,000 within the first three months after account opening

If you want higher introductory rewards, you’ll have to choose a card that charges an annual fee. The American Express Business Platinum® Card, for example, offers a sign-up bonus worth up to 75,000 Membership Rewards points. You’ll have to spend $20,000 during the first three months to earn the introductory rewards, and you’ll pay a whopping $595 annual fee (see rates & fees).

Ongoing Rewards

You will earn the following ongoing rewards when using your card:

• 1.5% cash back on all purchases with no spending caps

The Discover it Business Card also offers 1.5% cash back on all spending. But the issuer says it will match all cash back earned during the first year of card ownership, meaning this no-annual-fee card offers an effective 3% return for the first 12 months.

Rewards Restrictions

The Chase Ink Business Unlimited^SM won’t reward points for the following:

• Balance transfers
• Cash advances
• Travelers checks, foreign currency, money orders, wire transfers or similar cash-like transactions
• Lottery tickets, casino gaming chips, race track wagers or similar betting transactions
• Any checks that access your account
• Interest
• Unauthorized or fraudulent charges
• Fees of any kind

Rewards never expire, but you will lose all of your unredeemed rewards if your account is closed or you don’t make the minimum payment within 60 days of the due date. Other business rewards credit cards have similar restrictions on the types of purchases that won’t qualify for rewards.

How To Redeem Your Rewards

You can redeem your rewards for cash back, gift cards and travel through the Chase online travel portal. Redemption value for all three options is one cent per point, which is fairly typical. When redeeming for cash, you can receive a statement credit or a deposit into an eligible checking or savings account from a U.S.-based bank or credit union.

You also can increase your redemption value when you transfer rewards to another Chase card you own that’s part of the Ultimate Rewards program. If, for example, you transfer Chase Ink Business Unlimited^SM rewards to your Chase Sapphire Preferred personal card, each point is worth 1.25 cents per point when redeemed for travel.

Here’s how the math on the points transfer works:

1.5% earned on every dollar spent x $0.0125 = 1.875% return

You may be able to boost the redemption value further by combining your Chase Ink Business Unlimited^SM rewards with another Chase card and then transferring those points to one of the issuer’s airline partners. When transferred, point values vary, but your redemption value could exceed two cents per point or more when booking flights, increasing your return on purchases to at least 3%. When you authorize a transfer, you’re maximizing your credit card rewards.

Chase Ink Business Unlimited^SM Additional Features

Chase Ink Business Unlimited^SM offers several travel and purchase protections as complementary perks, including rental car insurance and extended warranty protection. You’ll find similar features on cards like the Capital One® Spark® Cash for Business card, although the benefits and limitations may differ.

You’ll receive the following free additional benefits:

Auto Rental Collision Damage Waiver

When you rent a car using your Chase business card, you’re covered in case of accident or theft. Coverage is primary if the vehicle rental is for business purposes (secondary when you’re renting for personal reasons), which means you won’t need to use your personal auto insurance or accept insurance offered by the rental agency. You may be reimbursed up to the cash value of the vehicle.

What’s Covered with Chase Ink Business Unlimited^SM Rental Insurance

The auto rental collision damage waiver covers damage due to collision or theft. Both the cardholder and any additional drivers permitted by the rental agreement are covered. Rentals of 31 consecutive days or less are eligible. You’ll also be covered for “reasonable and customary towing charges” and loss-of-use charges incurred by the rental car company.

This coverage is similar to what other cards that offer primary rental car insurance cover. Unlike this Chase small business credit card, some cards also may place a monetary cap on the coverage. The American Express Business Platinum Card®, for example, caps coverage at $75,000.

What’s Excluded from Chase Ink Business Unlimited^SM Rental Insurance

The following auto rental collision damage waiver coverage limits apply:

• Expensive, exotic, and antique automobiles
• Vans designed to carry more than eight people
• Trucks, motorcycles, mopeds, motorbikes, limousines, and recreational vehicles
• Expenses reimbursed under your personal auto insurance policy, your employer or your employer’s insurance
• Injury of anyone or anything inside or outside of the vehicle
• Leases and mini leases
• Loss or theft of personal belongings

The exclusions are similar to what other small business cards that offer primary rental car insurance exclude.

Purchase Protection

Chase may repair, replace or reimburse you for items purchased with your credit card that are damaged or stolen within 120 days of purchase. Coverage is limited to $10,000 per item, up to $50,000 per year.

What Purchases Chase Ink Business Unlimited^SM Covers

Purchase protection covers items stolen or damaged or that “in which the item’s location is known but recovery is impractical to complete.” This coverage is similar to what other small business credit cards that offer purchase protection cover.

What Purchases Chase Ink Business Unlimited^SM Excludes

The following purchases are not covered by purchase purchase:

• Animals and living plants
• Antiques or collectible items
• Boats, aircraft, automobiles, and any other motorized vehicles
• Computer software
• Items purchased for resale
• Items that are lost or that vanish in an unexplained manner without evidence of a wrongful act
• Items under the care and control of a common carrier like the U.S. Postal Service or an airline
• Jewelry and watches stored in checked baggage
• Theft or damage resulting from abuse, fraud, hostilities of any kind, confiscation by the authorities, risks of contraband, illegal activities, normal wear and tear, flood, earthquake, radioactive contamination, or damage from inherent product defects
• Medical equipment
• Perishables or consumables
• Real estate
• Rented or leased items
• Traveler’s checks, cash, tickets, credit or debit cards, and any other negotiable instruments
• Used or pre-owned items

Business credit cards that offer this coverage typically limit coverage to either 90 or 120 days after purchase. Chase Ink Business Unlimited^SM offers a longer coverage window than the Capital One® Spark® Classic for Business. Exclusions here are common across small business credit cards.

Extended Warranty Protection

Chase will extend the original manufacturer’s warranty by an additional year on warranties of three years or less up to a maximum of $10,000 per claim and $50,000 per account. You must have charged some portion of the purchase to your card or used reward points to make the purchase

What Chase Ink Business Unlimited^SM Extended Warranty Warranty Protection Covers

Extended warranty protection covers eligible items with a valid original manufacturer-written U.S. repair warranty of three years or less. This is a smaller window of additional coverage than some other small business credit cards offer.

What Chase Ink Business Unlimited^SM Extended Warranty Protection Excludes

The following purchases are not covered by extended warranty protection:

• Boats, automobiles, aircraft, and any other motorized vehicles
• Any costs other than those specifically covered under the terms of the original manufacturer’s written U.S. repair warranty
• Items purchased for resale
• Computer software
• Medical equipment
• Real estate
• Rented or leased items
• Used or pre-owned items

Chase’s extended warranty protection offers a smaller window of additional coverage than some other small business credit cards. American Express Blue Business® Plus, for example, offers two years’ extra warranty protection if the original manufacturer’s warranty is between two and five years. For shorter manufacturer’s warranties, American Express will match the length of the original warranty.

Travel and Emergency Assistance Services

Chase will provide travel, emergency, medical and legal assistance 24 hours a day to the cardholder, their spouse, and dependent children 22 years or younger. Like with most small business credit cards, this is mostly a concierge service. The cardholder is responsible for the cost of any assistance.

Services Chase Ink Business Unlimited^SM Provides

This card covers the following travel and emergency assistance:

• Arranges for transportation under medical supervision
• Relays messages for travelers 24 hours a day
• Arranges for the replacement and deliver of new tickets in case of loss
• Offers help with common carrier claim procedures when you’ve lost luggage

This card covers the following medical and legal assistance:

• Referrals to local doctors, dentists, hospitals, and pharmacies
• Assistance with prescription replacements
• Referrals to translator in all major languages

Some cards that charge an annual fee may offer additional assistance or benefits. The American Express® Business Gold Card, for example, includes on its Global Assist Hotline bail bond assistance and referral to an attorney who speaks English.

Adding Chase Ink Business Unlimited^SM Employee Credit Cards

Employee cards, like the Chase Ink Business Unlimited^SM master account, aren’t charged an annual fee. Most small business credit card issuers, with the exception of American Express, charge no fee on employee credit cards, even if the primary card carries an annual fee.

Chase does not limit the number of employee cards you can get, but says you should consider a corporate credit card if you need more than 100. Among the benefits, corporate cards offer better reporting tools and allow you to more easily issue cards on your own.

What Chase Ink Business Unlimited^SM is Missing

Chase Ink Business Unlimited^SM does not offer bonus category rewards, which means you could be missing out on earning 5% cash back on certain spending categories, like travel or dining. If you fly frequently, you could earn rewards of up to 5% on the best business credit cards for travel. For excellent travel rewards, choose the Chase Ink Business Preferred^SM, which offers 3x points on travel expenses, including airfare, hotels and parking garages.

Chase Ink Business Unlimited^SM Reviews

We scoured the internet for user reviews of this card. Customers like the 12-month introductory APR as well as the strong introductory rewards, but say the ongoing rewards aren’t competitive with other cards that offer fixed-rate rewards. Indeed, the American Express Blue Business® Plus earns 2x points on all spending up to $50,000 annually.

How to Apply for Chase Ink Business Unlimited^SM

Before opening a business credit card, learn what you need to do to prepare. Apply for the Chase Ink Business Unlimited^SM online by filling out a basic application.You’ll need to provide both business and personal information, like your Social Security number and business address.

You may be approved instantly. If you’re not, check your application status online if you’re an existing Chase customer; otherwise call 800-453-9719. If you’re approved, you’ll receive your card in the mail within seven to 10 days.

How to Login To Your Chase Ink Business Cash^SM Account

Login to your Chase account by providing your user ID and password. You can also contact customer service from the number on the back of your card.

Other Chase Business Credit Cards

The five other Chase business credit cards also offer rewards. Some cards are partner cards that reward you for airline travel expenses. The others offer points or cash back on all of your purchases. Consider another Chase small business card if you want to earn bonus points on certain spending categories

The other Chase business credit cards are:

• Chase Ink Business Cash^SM: This card is best for owners with big office supply expenses. You’ll earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, cellular phone, and landline services each account anniversary year. You’ll pay no annual fee.
• Chase Ink Business Preferred^SM: This card is best for businesses with large travel budgets. You’ll earn 3x points on the first $150,000 spent in combined purchases on travel, shipping, internet, cable and phone services, and advertising purchases each account anniversary year. You’ll pay a $95 annual fee.
• United^SM Explorer Business Card: This card is best for owners who frequently use United Airlines for business travel. It pays 2x miles on United purchases, and at restaurants, gas stations and office supply stores. You’ll pay a $95 annual fee, waived the first year.
• United MileagePlus Club Business Card: This card is best for heavy travelers who primarily fly United Airlines. It pays 2x miles on United purchases and 1.5x miles on everything else. The annual fee is $450.
• Southwest Rapid Rewards® Premier Business Credit Card: This card is best for businesses that frequently use Southwest Airlines for travel. It pays 2x points on Southwest purchases and 6,000 bonus points on each cardmember anniversary. You’ll pay a $99 annual fee.

Alternatives to Chase Ink Business Unlimited^SM

If you like credit cards that don’t require you to track spending categories, Chase Ink Business Unlimited^SM is a good fit. But there are similar cards that offer higher value on fixed-rate rewards.

3 Alternatives to Chase Ink Business Unlimited^SM

Note: The information related to the United^SM Explorer Business Card, United MileagePlus Club Business Card, Chase Sapphire Reserve and Chase Sapphire Preferred has been collected by fitsmallbusiness.com and has not been reviewed or provided by the issuer of these cards.

For rates and fees on the American Express Blue Business® Plus Card, please click here.
For rates and fees on the American Express Business Platinum® Card, please click here.