Whether you’re a budding solo entrepreneur or the owner of a burgeoning business, how you pay for your business expenses matters. Chase offers two small-business credit cards to help you pay for business expenses and earn rewards at the same time, making them ideal for small businesses. Read on to learn which Chase business card is best for your business.
Is a Chase Ink Business Card Right for You?
Either Chase Ink credit card could be a valuable assistant in managing your expenses because you can obtain cards for your employees at no cost. If you make use of travel rewards and have higher expenses, your rewards could more than cover the $95 annual fee of the Ink Business Preferred card. But, if you have lower expenses and just like getting cash back to spend your way, consider the Ink Business Cash card instead.
Chase Ink Business Preferred Review
The Chase Ink Business Preferred card offers small-business-specific rewards, no foreign transaction fees and travel and purchase protections to help you run your business with ease. Purchase protections include up to $600 in cell phone coverage with $100 deductible, protection against new items being stolen or damaged within 120 days of purchase up to $10,000 each ($50,000 per account) and a warranty extension of one year for eligible warranties (three years or less). Depending on your business credit score, you might qualify for a rate between 17.24% APR and 22.24% APR.
When it comes to Chase Ink rewards, the bonus categories are tailored to small businesses. You earn 3 points for every $1 spent on travel, shipping purchases and internet, cable and phone services, and on advertising purchases made with social media sites and search engines each account anniversary year, on up to $150,000 of purchases. All other categories, plus purchases in the prior categories over $150,000 per year, earn 1 point. You can redeem your points for gift cards, cash or travel. When you use your points to book travel through Chase Ultimate Rewards, they are worth 25 percent more.
The Chase Ink preferred card comes with a $95 annual fee, but you can have additional cards made for your employees added to your account at no additional cost.
If the Ink Business Preferred card sounds like the solution for your small business, apply now and receive an 80,000-point bonus after you spend $5,000 in the first three months of having the card.
Find Out: How to Open a Chase Checking Account
Chase Ink Business Cash Review
The Chase Ink Business Cash card offers some of the same benefits as the Ink Business Preferred card like travel protection, warranty extensions and purchase protection. Plus, the interest rate range of 14.49% APR to 20.49% APR is a little lower.
However, you don’t get the cell phone protection offered to Chase Ink Business Preferred cardholders, and you could be charged foreign transaction fees. But, you won’t be charged an annual fee, and additional cards for your employees are still free.
For rewards, you’ll earn 5 percent back on up to $25,000 in office supply store purchases as well as internet, cable and phone services each year. You’ll also earn 2 percent back on up to $25,000 worth of purchases at restaurants and gas stations each year, and 1 percent back on all other purchases.
Chase is currently running a sign-up bonus for new cardholders of $500 cash back when you spend $3,000 in the first three months.
Editorial Note: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are author’s alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.