The foundation on which an organization can grow is through efficient management of finances. A good business credit card can be an effective tool for keeping personal and business expenses separate. We are going to review Chase Ink Business unlimited to understand how it can be useful to a business owner.
Accounting is the language of businessWarren Buffet
Top five benefits of Chase Ink Business Unlimited
- Ink Business Unlimited credit card doesn’t report your transactions to consumer bureau , therefore, your personal credit score is secure. Your business transactions will show up on your business credit report.
- A generous welcome bonus awaits you, if you’re approved for Ink Business Unlimited card. Once you spend $3,000 on purchases within the first three months of opening your account. Your account will be credited with $500 early spend bonus within eight weeks’ time frame. The cashback bonus is credited as points, so you’re looking at 50,000 points which can be used for redemption.
- Gas expenses, cell phone bill, office supply expenses are few of the charges you may find on your card statement, but there won’t be annual fee charge from Chase for Ink Business Unlimited. It is rare to find a reliable no annual fee business card that offers cashback on every eligible purchase.
- Ink Business Unlimited has a simple cash back earning structure. For every dollar you spend on purchases you earn cash back at 1.5%. There are no defined categories where you must spend to receive cashback. No boundaries to stop you from earning rewards. If your account is active and good standing then you keep earning rewards for your business purchases.
- Only two among the six business cards from Chase carry an introductory APR offer. Ink Business Unlimited gives you 12 months, 0% APR for your purchases, thereafter variable APR will be applied to your card. You will lose this offer if at any time a minimum monthly payment is not posted as per your due date and time.
Other Benefits of Chase Ink Business Unlimited
Free employee cards
As your company grows, you can get add-on cards for your employees without having to pay extra for them. You can also define a spending limit for each employee card that is issued, furthermore, the transactions made on them will also earn you reward points.
Numerous options to redeem points
A lot of times we forget to redeem the points that are collected but with Chase cards redeeming is easy. If you redeem your Chase points for gift cards, cash, travel, checks and deposits to your account then you get $1 for every 100 points. You can use your points to pay for purchases made at Amazon.com. The value of the point decrease ($0.008 for each point) when you use it to pay on Amazon.com.
Ultimate Rewards portal for redemption
You may have used Apple Pay or an Apple card to buy an Apple charger or a USB cable, but now you can log-in to the Ultimate Rewards portal and pay with your points.
If you choose to combine your points with another card through Chase Ultimate Rewards portal the potential value of your points is increased if you pool with a pre-existing Ink Business Preferred or Sapphire Reserve card. There would be a 25% increase in the value of points if they are redeemed for travel.
Car Rental Insurance
You can get a primary coverage when you rent a car for work purposes, be sure to refuse the insurance offered by the rental company and charge the entire amount to your Ink Business Unlimited card.
If you rent a car for personal use then this coverage turns into a secondary coverage. The coverage offers reimbursement for your rental vehicle in case of a collision or theft. The coverage period should not exceed more than 31 days. This benefit does not include antique, expensive cars, vans, and certain exotic vehicles. To know the exceptions you can refer to the benefits guide.
If you have paid for an item using your card or points and it has original manufacturer’s warranty of three years or less than you get one additional year coverage. you will receive reimbursement up to a maximum of ten thousand dollars for every claim and a maximum up to fifty thousand dollars for each account. This benefit does not include items which are refurbished, pre-owned, medical equipment, software installations on laptop or desktops.
You get up to 120 days of protection within which if the eligible item is stolen or lost or damaged it can be either replaced, repaired or you will receive reimbursement up to a maximum of ten thousand dollars for every claim and a maximum up to fifty thousand dollars for each account.
If you find yourself with a flat tyre or need a jump start then you can call the Roadside Dispatch helpline to make the arrangements. Cardholder has to pay a fee for the actual roadside service provided.
Travel and Emergency Assistance
Travel and Emergency Assistance is available 365 days, 24/7 if you require emergency assistance such as emergency ticket replacement, tracking your lost baggage or translator service. Through this benefit, you can get a referral if you need legal or medical assistance. The cardholder has to cover the cost of using the services offered.
You will be charged a 3% fee for each transaction you make outside of the US or from a foreign vendor online using the Chase Ink Business Unlimited card.
What information is required when applying for Chase Ink Business Unlimited?
You need to have a valid business to be able to apply for this card. You must be able to provide an EIN and SSN. In the application form, you would have to fill out details such as tax identification number, annual revenue, number of years in business, business address and phone number.
Ink Business Unlimited is a good card for those who want to track, develop insights on their own business spending, without having to spend too much time on understanding complex card structures.