The Chase Ink Business Unlimited is one of the best business credit cards on the planet. I've been a 10+ year client of Chase and have two Chase credit cards so I can accumulate as many rewards points as possible.
I started with the Chase Ink Business Cash Card. As my business grew, so did my business needs and desire for more rewards. I, therefore, signed up for the Ink Business Unlimited card as well due to the extensive amount of benefits we'll cover today. The Ink Business Unlimited card also has no annual fee.
Great Reasons To Own The Chase Ink Business Unlimited Card
1. Great Sign-up Bonus
If you are a business owner or are self-employed, it's in your best interest to have a business credit card to separate your business and personal expenses. Having clear cut separation is best practice for accounting and taxes. It also saves you time and money. Even if you don't have an LLC, S-Corp, or C-Corp, you can still get a business credit card as a sole proprietor.
With the Ink Business Unlimited Credit Card, you can get a $750 bonus after you spend just $7,500 on the card within the first three months after account opening. That cash back is worth 75,000 Ultimate Rewards points. You can use points to get even more value when there are special deals on the Chase Ultimate Rewards platform.
2. No Annual Fee
When you're running a business efficiently, especially when you're first starting off, you want to keep costs at a minimum. Owning a business credit card with no annual feel is a wise move.
I calculate that the Chase Ink Business Unlimited credit card provides more than $1,000 in cardholder value each year. If you happen to spend a lot of money on your business, the value is even greater.
A card with so much value should charge at least a $95 – $300 annual fee. But not only does the Ink Business Unlimited charge its cardholder $0 annual fee, it also provides a $750 sign-up bonus. Wow!
3. Excellent, Unlimited Cash Back On All Purchases
The Ink Business Unlimited card has the word unlimited in its name for a reason. As a cardholder, you get a flat 1.5% cash back on all purchases. There is no cap on spending and how much cash back you can earn. Many other cards stop accumulating rewards points and cash back after you spend a certain amount, but that's not the case with this card.
Because you can also transfer Ink Business Unlimited rewards to another Chase credit card that earns Ultimate Rewards, the value is potentially even greater than 1.5% cash back. Unlimited Rewards points are valued at 2 cents each, meaning you could see a return of 3% for every dollar spent.
4. 0% Introductory APR Offer
Not all business credit cards or rewards cards offer a 0% introductory APR offer for 12 months. Therefore, if you plan to buy something big for your business, and want some relief in paying it off over time, this card is it.
After the introductory period is over, the card switches to a variable APR. So it's worth taking advantage of the introductory period to get all your big ticket items such as furniture and office equipment while the interest rate is 0%. In my case, I used a new business credit card to pay for some needed maintenance on my car that I use for work.
If you don't need any new equipment or furniture, you could also utilize the introductory APR to book things like business travel expenses, pay for a big marketing campaign, or conference tickets. The below chart also provides a sample of ways to lower your business' taxable income.
5. Primary Business Rental Car Coverage
Did you know there is a difference between primary and secondary business rental car coverage? Primary business rental car coverage is much better.
Secondary coverage only applies after taking into consideration what your own personal car insurance covers. It only kicks in AFTER your primary personal car insurance coverage kicks in, which is not good if you want to save on car insurance premiums!
Primary coverage takes your personal coverage out of the equation and protects you from deductibles or losses above a certain threshold. The last time I got into an accident, even though my insurance covered $4,000 in damages after my $500 deductible, my insurance premium went up by $600 a year for two years.
The Ink Business Unlimited Credit Card lets you to decline the rental car company’s collision insurance and be covered by the card up to the cash value of the vehicle in the case of theft or collision damage. The one key thing is that the car must be used for business purposes.
6. Employee Cards Cost Zero To Add
Most business credit cards charge a $75+ fee to sign up a new employee for the business credit card. The Ink Business Unlimited Credit Card has no fees for adding employees to the card.
Just be aware that you are still responsible for paying all charges accrued on the account by your employees. Therefore, make sure you only give credit cards to your most responsible employees who need to charge things on your business.
Who Should Own The Chase Ink Business Unlimited Credit Card?
A business credit card is one of the easiest and best ways to begin separating your business expenses from your personal ones. What’s great about having separate finances is that your business expenses are generally tax deductible, which is always a plus.
Still on the fence about getting the Chase Ink Business Unlimited Credit Card? I completely understand as I’ve spent hours going through hundreds of credit card to highlight only the best. It’s overwhelming!
Here are some attributes that make owning the Chase Ink Business Unlimited Credit Card a great fit. If you relate to at least three of the attributes, then I think this is the business credit card for you.
- You just started a business and plan to have it running for at least a year, if not much, much longer
- Right now you generate at least $12,000 in revenue and growing
- The annual business expenses total you plan to charge on the card is at least $10,000
- Organization is important to you and you want to keep business expenses all in one place
- The flexibility of redeeming rewards for travel, cash, gift cards or other rewards is appealing to you
- You enjoy a simple, straightforward, 1.5% cash back on unlimited purchases
- Chase is one of your banks already
- You’ve got a credit score above 690
- Minimizing your taxable income with legitimate business expenses is a priority to you
If you fulfill at least three of the above, and hopefully a lot more, the Chase Ink Business Unlimited Credit Card is a great choice.
I’ve been a happy Chase business cardholder for over 10 years and I plan to continue being a cardholder for hopefully another 10 years.
Maximize Your Ink Business Unlimited Credit Card
The great thing about the Ink Business Unlimited Credit Card is that there is no annual fee. Therefore, you don't have to worry about spending unnecessary money to justify the fee in order to get rewards.
With this card you can earn a $750 bonus after you spend just $7,500 on the card within three months. But if you somehow don't spend that much, that's OK. There's no penalty. You're just going to miss out on that bonus. Whatever happens you'll earn 1.5% back on all purchases automatically.
As a 10+ year client of Chase, the Ink Business Unlimited Credit Card has really helped supercharge my rewards points. The amount of cash back and gift cards I've earned is in the thousands.
Ideas To Redeem Your Points
As someone who has over 340,000 points, I often fantasize about what I plan to do with my rewards points. Let's say you have 200k in rewards points. Here are some ideas on how you could redeem 200,000 in rewards points.
1. $2,000 in statement credit
This is the most responsible option of using 200,000 points as $2,000 cash back / statement credit to pay for your upcoming monthly credit card bill.
You can also use 200,000 points for gas cards and other ongoing expenses. Sometimes, you might be able to get more value for gas cards and other cards due to special offers.
2. Take your family of four to Hawaii!
As a half-Hawaiian guy, I love going to Hawaii every year. My parents live there, I got married there, and Oahu is my favorite place on Earth. If you've never been it's definitely a magical place you should visit at least once in your life if not multiple times.
We always go to Hawaii to have an annual directors meeting for our business. This way, our hotel lodging and many activities are business expenses.
3. Up To 40 Nights In Hyatt Properties
The World of Hyatt loyalty program is a rewards partner with this card. This program has very reasonable redemption rates that start at just 5,000 points per night for a Category 1 property, though some top-tier locations require 30,000 points for a free night.
With 200,000 rewards points, you can get up to 40 nights in Hyatt Properties. Here's the breakdown of how many points you get per night by property category.
- 1 (5,000 points/night): 40 nights
- 2 (8,000 points/night): 25 nights
- 3 (12,000 points/night): 16.7 nights
- 4 (15,000 points/night): 13.3 nights
- 5 (20,000 points/night): 10 nights
- 6 (25,000 points/night): 8 nights
- 7 (30,000 points/night): 6.7 nights
4. Fly Internationally First-Class
As a Financial Samurai, flying on a first-class round-trip flight to Japan is a great bucket list item. I grew up in Kobe for a couple years and we often go back because Japan is simply one of the most amazing countries in the world.
The culture and sights are incredible and the food is super mouth watering. It's kind of funny that Italian food tastes the best in Japan, but it's true. Steak is also the best in Japan. Everything is amazing in Japan!
If you've never flown first-class internationally, it's a wonderful experience because of the privacy and the reclining seat that turns into a flat bed. The service is so amazing you will never want to fly economy again.
You can also choose to transfer your points to Virgin Atlantic and go to Europe. A round-trip first class ticket costs 110,000 miles from Canada and the West Coast. That's pretty cheap compared to United, which charges 220,000 miles for a first class ticket. Half off!
Of course, you'll need 220,000 miles, and not just 200,000 miles to get two round-trip first class international tickets. Of course, once you get overseas, many of your hotel lodging, food, and ground transportation expenses can all be classified as business expense for even more savings.
As an online media business owner, I often travel internationally to gain different perspectives. Having an online business is one of the best businesses in the world!
The Chase Ink Business Unlimited Credit Card Is Great
If you don't have an LLC, S-Corp, or C-Corp, don't fret. You may be able to get approved for this card as a sole proprietorship just by using your Social Security number. Everyone who's in business can benefit from a dedicated credit card specifically for business use.
I also firmly believe the key to great long-term wealth is building a business. Not only do you get to earn income from having your own business, you get to also build equity. That equity can one day be sold for multiples of profit.
The Chase Ink Business Unlimited is a fantastic credit card that will help keep your records organized, provides a wealth of benefits and will get you to wherever you want to go.
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