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If you’re in the market for a business credit card — one with a strong earning and redemption opportunities — now is the time to act. Two of Chase’s no-annual-fee Ink Business credit cards just announced an increased sign-up offer. In fact, it’s the highest offer we’ve ever seen on these two cards and two of the best business credit cards currently available.
Right now, both the Ink Business Cash Credit Card and the Ink Business Unlimited Credit Card are offering new customers $900 in bonus cash back after spending $6,000 on purchases in the first three months after opening the account. This is an incredibly rich offer and can even be worth significantly more if paired with another Chase Ultimate Reward credit card — which we explain in detail below.
While $6,000 is a significant amount of money to spend in a short time frame, it breaks down to an average of only $2,000 per month, which shouldn’t be too challenging for most businesses that have regular expenses. And one of the best aspects of both of these business credit cards is that neither of them carries an annual fee. It’s quite rare to see such a high sign-up offer on a no-annual-fee card.
Ink Business Cash vs. Ink Business Unlimited
Aside from the $900 in bonus cash back — which is a great reason alone to apply for either card — there are many additional benefits on both of these Ink Business credit cards.
The Ink Business Cash card offers bonus cash back on many common business expenses. You’ll earn 5% cash back at office supply stores as well as on internet, cable and phone services, up to $25,000 in combined purchases each year you have the card. You’ll also earn 2% cash back at gas stations and restaurants, up to $25,000 spent in combined purchases each account year. And on all other purchases, you’ll earn 1% cash back with no limit.
On the other hand, the Ink Business Unlimited card is simpler, as there are no bonus categories to remember. Instead, all purchases that you make with the card earn 1.5% cash back — with no cap on the amount of cash back you can earn.
Both cards also offer an introductory 0% APR on purchases for the first 12 months from the date you open the account, which then rises to a variable 17.49% to 23.49% once the 12 months have ended. This makes either of these cards an ideal choice if you have expensive business purchases coming up that you’d prefer to pay for over time.
Other great benefits of these two Ink credit cards include purchase protection and extended warranty protection as well as primary car rental coverage when you rent a car for business purposes. These are perks that you won’t often see tied to business credit cards with no annual fee.
The one caveat is that you won’t want to use these Ink credit cards during overseas business trips, as both of them charge a 3% foreign transaction fee on international purchases.
Getting even more value for your rewards
Although the Ink Cash and Ink Unlimited are “cash back” credit cards, they technically earn Chase Ultimate Rewards points that can be redeemed for cash back at a rate of 1 cent per point. However, if you’d prefer to redeem your credit card rewards for travel instead of cash back, you can actually get even more value from these points with the right combination of Chase credit cards.
If you also have a premium Ultimate Rewards credit card — one that charges an annual fee, such as the Chase Sapphire Preferred Card, the Chase Sapphire Reserve or the Ink Business Preferred Credit Card — you can move any points earned from the Ink Cash or Ink Unlimited cards to your other Chase credit card.
Then, once you’ve moved your points, you can redeem them for travel at a higher rate by booking through Chase’s travel portal. Depending on which premium Chase card you have, your points are worth 1.25 to 1.5 cents each when redeemed this way, instead of the 1 cent per point you’ll get with the cash back option. That makes the sign-up bonus potentially worth even more as your 90,000 points earned can be redeemed for $1,125 to $1,350 towards travel.
Or, once you’ve moved your points to one of the premium Chase cards, you can transfer them to one of Chase’s 14 airline and hotel partners. With frequent-flyer website The Points Guy valuing Ultimate Reward points at 2 cents apiece, this means your 90,000 points earned from the welcome offer can be worth around $1,800. When you transfer points to a partner, it requires some flexibility and effort to find a great award, but it’s the best way to redeem your points for luxury travel — such as a first class airline ticket or a high-end hotel suite — and get even more value for them.
What if I don’t have a business?
Business credit cards aren’t solely for large corporations. Mom-and-pop shops, small startups and even people with side jobs are often eligible for business credit cards as well. You might not even realize you already have a business, but selling products through eBay, being a ride-share driver or buying and selling real estate are all activities that may categorize you as a small-business owner.
If you fall into this bucket, you can legitimately apply for either the Ink Business Cash or Ink Business Unlimited — or most other business cards — as a sole proprietor using your Social Security number instead of an Employer Identification Number. And even if you’re just getting started in your new gig, you can still apply — just be honest about your business and income on the application.
Is the Ink Business Cash or Ink Business Unlimited right for you?
If you’re eligible for a business credit card, then yes! This is a huge sign-up offer on two really terrific credit cards, both of which have no annual fee and can be extremely useful to a small business.
For businesses that spend a decent amount each year in one or more of the Ink Cash bonus categories, the Ink Business Cash should be your choice. But if your business expenses are mixed across many different types of purchases, you may make out better with the flat 1.5% cash back that comes with the Ink Business Unlimited.
Not sure which card to pick? You can actually get both! In fact, even if you have another Chase business credit card, you’re still eligible to apply for one or even both of these two cards. Chase has no maximum on the number of business cards you can have, and getting more than one can be a great way to separate expenses if you have multiple projects or even multiple businesses.
And if you’re not sure if you want to redeem your points for cash back or travel, you don’t have to make a decision now. Points earned with either of these cards never expire as long as you keep the account open, so you can build them up and decide down the line if you’d like to add a premium Chase credit card to use your points for travel or if taking your rewards as cash back makes the most sense for you.