As a Chase banking and credit card client since Financial Samurai started in 2009, I believe Chase offers some of the most comprehensive rewards credit cards on the market today.
When I first started out, I signed up for the Chase Ink Business Cash Card. The card has no annual fee and offers a $750 signup bonus after spending $7,500 on purchases within three months.
As my business got larger, and Chase's business credit cards got better, I signed up for the Chase Ink Business Unlimited Card. The Unlimited card offers 1.5% cash back on all purchases instead of just 1%.
Chase Freedom Unlimited
For personal expenses, I used the Chase Freedom Unlimited credit card aggressively before our son was born in 2017. We traveled to 20 new countries from 2012 – 2016 after I left my job for good in 2012.
The Chase Freedom Unlimited provided us the most benefits as world travelers because it provides:
- 5% cash back on travel purchased in the Chase Ultimate Rewards portal
- 3% cash back dining at restaurants and eligible delivery/takeout
- Earn unlimited 1.5% cash back on all purchases
- Annual fee: $0
- Sign up bonus: Get a $200 bonus after you spend $500 in the first 3 months
Today, our traveling has come way down due to being dual stay at home parents to a toddler and preschooler. We're waiting until our oldest turns 5 to take him on his first plane ride because research has shown kids forget almost everything before age 5. Why waste wonderful travel experiences if you're going to just forget?
Even though we aren't really traveling that much, my main personal credit card is still the Chase Freedom Unlimited Card. It provides 1.5% unlimited cash back on all purchases. You also get a free $200 after spending just $500 within three months of opening an account.
Let me share with you all of the best Chase credit cards today.
Chase Personal Credit Cards
There are two categories of personal credit cards, the Freedom and the Sapphire lines.
Base Category: Chase Freedom Cards
- Chase Freedom Flex
- Chase Freedom Unlimited
The Chase Freedom family of credit cards are the perfect cards for consumers who want simple, no annual fee credit cards, with healthy rewards.
If you use your credit card for daily expenses, these cards offer unlimited cash back at different tiers – 1% for Freedom Flex and 1.5% for Freedom Unlimited.
The Chase Freedom Flex and Chase Freedom Unlimited both offer a $200 welcome bonus when you spend $500 within the first three months of opening your account. This welcome bonus is only available for people who haven’t received a Chase new cardmember bonus in the previous 24 months.
New Freedom Flex and Freedom Unlimited cardholders also receive a 0% Introductory APR on purchases in the first 15 months. This is great if you are planning for larger purchases and need time to pay them off.
You will have to pay a 3% balance transfer fee if you want to transfer debt from a higher interest credit card. So run the math and see what makes sense for you.
There are a few other distinctions in bonus categories that will help you determine which Freedom card makes the most sense for you.
Biggest Differences Between The Chase Freedom And Freedom Unlimited
If you're like most logical people, you're now asking why not sign up for both given the free signup bonus money and no annual fee. I agree! It's worth signing up for one, and then another 24 months later to get the free money.
Cash Back Structure
The main difference between the cards is that the Chase Freedom Flex card offers 1% unlimited cash back on every dollar you spend. In addition, 5% cash back on quarterly bonus categories that you have to opt-in to receive.
In comparison, the Chase Freedom Unlimited card offers 1.5% cash back on all purchases. However, it doesn't have any rotating categories to keep track of.
Therefore, if you like simplicity go with Chase Freedom Unlimited. Some people can't be bothered to track various categories like dining, travel, and gas to get the 5% cash back bonus. The Chase Freedom Unlimited card since it has a 0.5% higher cash back percentage on all purchases.
On the other hand, if you have the time to keep track, getting a 5% cash back on categories you were going to spend money in anyway is huge, especially for a card with no annual fee. Get the Chase Freedom Flex card instead.
Which Chase Credit Card Is Better?
Let's use a concrete example to see which card is better. If you spend $2,000 monthly on your Freedom Unlimited card and earn 1.5% cash back on that, your earning $30 in rewards per month which comes to $360 per year. Now do the same with the Freedom Flex’s 1%, and you’ll only get $240 per year in rewards.
But, let's say $10,000 of your $24,000 spending is wisely spent on the revolving categories. With 5% cash back, you get $500 in rewards for the $10,000 and another $140 in rewards from the $14,000 for a total of $640 in rewards.
You've got to review your spending habits and do the math to make the best choice possible.
Premium Category: Chase Sapphire
- Chase Sapphire Preferred
- Chase Sapphire Reserve
If you love to travel and dine out, then the Chase Sapphire line of credit cards might be your cup of tea.
The points you accumulate can be used in the Chase Ultimate Rewards program. You can buy everything from hotel nights, free flights, and free electronics.
The reward points are calculated using percentages of the dollar amounts you spend. Then, they are converted into Ultimate Rewards Points. Chase Reward points are usually worth 1-1.5 cents per dollar, depending on how you redeem them. Sometimes there's a “sale” on items where they will require less rewards points than usual. Look out for those.
If you are a jet setter, then owning a Chase Sapphire card is one of my favorite choices.
If you are a travel enthusiast who loves dining out, it is 100% worth it to use one of the Chase Sapphire cards.
Chase Sapphire Reserve
The Chase Sapphire Reserve card is the premium personal card by Chase. First of all, it has a $550 annual fee, which means you better be a travel enthusiast and foodie!
But here's the thing, you get a tremendous amount of rewards if you use the card regularly. Here they are:
- Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
- $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year. This is free money that knocks down the fee just for having the card.
- Earn 3X points on all travel and dining expenses through the year. The 3X rewards points are not limited to the U.S. either, but worldwide.
- Car rental insurance
- Priority lounge access
- Trip cancellation and interruption insurance allows you to get reimbursed up to $10,000 per person or $20,000 per trip for pre-paid, non-refundable expenses like hotels, fares, and hotels. Those are some huge numbers that should allow you to travel to the most exotic places with pace of mind.
- The lost luggage reimbursement means that if your carrier loses or damages your luggage, you’re covered up to $3,000 per passenger. I remember checking in a bag as a middle-schooler and having my new Air Jordan 6s stolen and replace with old smelly shoes. I was so sad because I saved an entire summer for these shoes. Luckily I was reimbursed.
Even More Features
- Auto Rental Collision Damage Waiver. You can get a reimbursement of up to $75,000 for theft and collision damage for rental cars in the US and abroad.
- Trip Delay Reimbursement. If your trip is delayed for more than 6 hours – or if you need to find somewhere to stay overnight – you are covered for expenses like meals and lodging, up to $500 per ticket.
- Emergency Evacuation & Transportation. Finally, the card also covers you in a case of an emergency evacuation if you become sick or injured, up to $100,000. With healthcare insurance so expensive nowadays, this benefit provides terrific peace of mind.
- Purchase Coverage: This is my favorite protection benefit. With purchase coverage, you’re covered for new purchases for 120 days against theft or damage up to $10,000 per claim and a maximum of $50,000 a year. You could get a reimbursement for products that store won’t take back within 90 days of purchase (up to $500 per item, $1,000 per year). You could get an extension of US manufacturers’ warranty by a year.
If you're spending at least $36,000 a year on your credit card, the Chase Sapphire Reserve could be the car for you.
Chase Business Credit Cards
If you are a solopreneur or the CEO of a hundred person company, you need a business rewards credit card to keep track of your expenses.
Applying for a business credit card is a little different than applying for a personal card. The main difference is that you’ll need to report your business’s revenue instead of your income.
You’ll also need to know information about your business’s legal entity, whether you are an LLC or a sole proprietor. If you are a sole proprietor owner, you only need to use your social security number as your business’s EIN.
Again, you don't need an Employer ID Number to get a business credit card. You can be a sole proprietor with a 1099.
Here are the three main Chase Business Credit Cards currently available:
- Ink Business Unlimited Credit Card
- The Chase Ink Business Cash Rewards Credit Card
- Ink Business Preferred Credit Card
Chase Ink Business Unlimited
Chase Ink Business Unlimited is my favorite business credit card. I own one and so should you. With no annual fee, the Ink Business Unlimited card rewards uses with unlimited 1.5% cash back on all purchases.
New cardholders get a 0% introductory APR for 12 months, plus $750 cash back after you spend $7,500 in purchases in the first 3 months. I opened this card to get the free $500 because I had to buy $5,000 worth of blinds for my office.
Chase Ink Business Cash
The Chase Ink Business Cash credit card is the first business card I ever got. You get 5% cash back in common business categories like office supplies, internet, cable, and phone services. The 5% applies to the first $25,000 collectively every 12 months.
Business owners also earn 2% cash back at gas stations and restaurants up to $25,000 every year, and unlimited 1% back on all other purchases.
New cardmembers get a $750 bonus cash back after spending $7,500 on purchases in the first three months.
Further, there is no annual fee.
Ink Business Preferred
The Chase Ink Business Preferred is their top of the line business credit card. Although you have to pay a $95 annual fee (business expense of course), you get a massive 100,000 bonus points after you spend $15,000 on purchases in the first three months after account opening.
Cardholders can enjoy 3% cash back on travel, shopping, advertising, and more. The 3% applies to the first $150,000 collectively on travel and select business categories every 12 months.
If your business has over $50,000 a year in expenses you can put on the card, the Ink Business Preferred is definitely a great card to own.
Chase Credit Cards Are Some Of The Best
I wouldn't be a Chase client and credit card holder since 2009 if it they weren't great. I've spent dozens of hours researching hundreds of credit cards of the past couple years. And I'm confident going with a Chase personal and business card is the right way to go.
It feels great that Chase has bank branches all around the country as well. You can earn more points if you open up a checking or savings account as well. When you consolidate your business with one financial institution, you tend to get many more perks as well.
Make sure you spend responsibly and always pay your credit card bill in full.
Spend Responsibly And Build Your Wealth
To help keep easier track of your credit card balances, cash flow, bank accounts, and more sign up for a free account with Personal Capital. Their free and secure online software lets you monitor all of your accounts in one place.
In addition, they have excellent financial tools that help you track your net worth, cash flow, and easily plan for retirement. Check it out for free today.
If you enjoyed this article and want to get more personal finance insights and tips, please sign up for the free Financial Samurai newsletter. You’ll get access to exclusive content only available to subscribers.