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By Jason Steele
December 1, 2020
Courtesy of Chase

It used to be that small business owner was a term largely reserved for people who owned their own stores, restaurants or other firms. But today, tens of millions of Americans had some sort of online gig, side hustle or another way to earn money without an employer.

If this sounds like you, then you benefit from holding a small business credit card. Having one can help you separate your business and personal expenses, offer a secure method of payment and extend your business purchasing power. The Chase Ink Business Unlimited® is one of the best cards for small business owners, and it now offers new applicants $750 bonus cash back and a valuable promotional financing offer.

Key Terms

  • New Account Bonus: Earn $750 bonus cash back after spending $7,500 within three months of account opening.
  • Rewards: Earn unlimited 1.5% cash back on all purchases
  • Annual Fee: $0
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How This Card Works

New applicants can earn $750 in bonus cash back after spending $7,500 on their card within three months of opening an account. New accounts also receive 12 months of 0% introductory APR on new purchases; after that the standard rate applies at 13.25% – 19.24% Variable APR.

This card also offers unlimited 1.5% cash back on all purchases, which comes in the form of Ultimate Rewards® points. These valuable reward points can be redeemed for cash back, gift cards, merchandise and travel reservations. And if you also have a Chase card that offers Ultimate Rewards points and has an annual fee, such as the Ink Preferred, Sapphire Preferred, and Sapphire Reserve, then you’ll have the ability to combine these points into those accounts where they can be transferred to airline miles or hotel points.

The Chase Ink Business Unlimited® also includes a significant number of valuable travel insurance and Purchase Protection benefits. Your purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account. You also receive Extended Warranty Protection that adds one year on eligible warranties of three years or less. And when traveling, you receive Auto Rental Collision Damage Waiver, Travel and Emergency Assistance Services and Roadside Dispatch. There’s no annual fee for this card.

Advantages

Ink Business Unlimited’s generous new account bonus is far beyond what is normally seen for a small business credit card. And having 12 months of interest free financing on new purchases is also very valuable to small business owners that can use some extra time to finance their purchases.

Additionally, this card is also one of the best reward cards for spending, offering 1.5% cash back (as 1.5 Ultimate Rewards points) per dollar spent. This is 50% more than the one point per dollar that most cards offer on purchases that aren’t eligible for a bonus. And when you combine this card with another Chase Ultimate Rewards card that has an annual fee, then the value of the points you earn is even greater. A rewards card with no annual fee makes it an easy addition to your wallet.

Disadvantages

While the welcome bonus is one of the best offered by any card, you still have to spend $7,500 within three months of account opening in order to receive it. This may be possible for many small business owners, but others may find this hefty minimum spending requirement to be out of their reach. And by itself, this card doesn’t offer the ability to transfer your rewards to airline miles or hotel points. This card also comes with a 3% foreign transaction fee, which you won’t find on most reward credit cards anymore.

Alternatives

Chase Ink Business Preferred®. This card is offering new applicants a whopping 100,000 bonus points after spending $15,000 on new purchases within first three months of opening an account, but it doesn’t have a promotional financing offer. Ink Business Preferred features 3x points on travel and purchases from other select business categories. This card also offers you 25% more value when redeeming your points directly for travel reservations, and it allows you to transfer points to participating airline and hotel programs. But it does come with a $95 annual fee.

Chase Ink Business Cash® credit card. Like the Ink Business Unlimited card, Ink Business Cash has no annual fee and it currently offers new applicants a fantastic welcome bonus. You can earn $750 in bonus cash back after spending $7,500 on your card within three months of account opening. And it offers new accounts 12 months of 0% APR financing on new purchases. However, it features 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. You also get 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, and 1% cash back on all other purchases, with no limit to the amount you can earn. There’s no annual fee for this card.

Blue Business Cash™ Card from American Express. This relatively simple card delivers strong value by offering 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% after that. It does not offer a cash back welcome bonus, but does feature 12 months of 0% introductory APR financing on new purchases for new accounts (13.24% – 19.24% Variable APR after). There’s no annual fee for this card.

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Bottom Line

With an introductory $750 bonus cash back for new accounts, 12 months of 0% introductory APR financing and no annual fee, it’s hard to find a deal as good as the Chase Ink Business Unlimited®. By taking a look at this offer and other competing cards, you’ll find the one that’s best for your needs.

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