Review of the Chase Ink Business Unlimited Credit Card
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Ink Business Unlimited® Credit Card
Created for small business owners who are looking to earn a little something back, the Chase Ink Business Unlimited gets 1.5% cash back on every purchase. It offers a standard benefits package and a 0% intro purchase APR for 12 months (then 13.24% - 19.24% Variable).
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The Ink Business Unlimited® Credit Card provides small business owners with a simple way to earn cash back on every purchase. If you don’t want to worry about bonus categories, or you just need a card for all-around spending, this might be a good option for you.
Cardholders get 5% cash back on Lyft rides and 1.5% cash back for every other purchase, with no limit to the amount of cash back you can earn. There’s also a sizable introductory offer of $750 cash bonus for spending $7,500 in the first 3 months after account opening, which is pretty big compared to most cards in this range.
This card has no annual fee to pay, and you’ll get 0% APR for purchases before the regular 13.24% - 19.24% Variable APR applies. That makes it an inexpensive option to help pay off some business expenses over time. Foreign transactions will cost 3% of each transaction in U.S. dollars, however.
You’ll get Visa Signature Business benefits with this card, which mostly consist of shopping and travel protections.
There are currently three cards in Chase’s lineup of Ink business cards. Together they offer rewards on a nice variety of purchases, and you may want to consider using more than one of them for business expenses. If you have the Preferred card, you can transfer rewards to it from the other two cards to get more value from them.
| Card | Annual Fee | Foreign Transaction Fee | Purchase APR | Rewards |
|---|---|---|---|---|
| Ink Business Unlimited (This review) | $0 | 3% | 0% for 12 months, then 13.24% - 19.24% Variable |
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| Ink Business Cash (Review) | $0 | 3% | 0% for 12 months, then 13.24% - 19.24% Variable |
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| Ink Business Preferred (Review) | $0 | 0% | 15.99%-20.99% Variable |
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Keep reading to learn more about the Ink Business Unlimited, or check out one of Chase’s other business cards.
Our Rating: 5 Out of 5 Stars
We give the Ink Business Unlimited card 5 out of 5 Stars because it provides cash back at a decent rate for every purchase, with a solid introductory bonus offer.
Why We Like It
- 5% cash back on Lyft rides and 1.5% cash back on everything else you buy
- $750 cash bonus for spending $7,500 in the first 3 months after account opening
- 12 months at 0% Intro APR on Purchases APR for purchases, then 13.24% - 19.24% Variable after that
- No annual fee
- Visa Signature Business benefits
- Reports positive card activity to Dun & Bradstreet
Why It Could Be Better
- No bonus categories to earn more cash rewards in
- There’s a 3% fee on foreign transactions
- The extra benefits are fairly basic
If you need a card for general business spending, rather than for any particular purchases, the Ink Business Unlimited might be a good pick. There are a few other similar options, however, along with cards that can offer more rewards and better benefits. Check out some of those alternatives below.
Insider tip
Like other business credit cards, the Ink Business Unlimited is available to freelancers. But it’s not the only freelance-compatible credit card, so explore all the best credit cards for freelancers before you submit any applications.
Insider Advice: Getting the Most Out of Your Card
- For everyday spending: Use this card for every business purchase, unless you’ll get a better value with a different card.
- Snag the bonus: $750 cash bonus for spending $7,500 in the first 3 months after account opening, a nice return on your spending.
- Pay over time: You’ll get 12 months at 0% APR for purchases, giving you some time to pay off expenses without being charged extra.
- Manage employee spending: Get up to 70 employee cards, all for free, to help manage your business spending. You’ll earn rewards from employee card purchases, and can set individual spending limits.
- Use your benefits: Check out the travel and shopping protections that come with this card so you can get the most out of it.
- Build business credit: Your positive card activity will be reported to the business credit bureau Dun & Bradstreet
- Business cards are different: Take some time to understand how business cards are different than regular consumer cards.
The Rewards
This card earns 1.5% cash back on every purchase, except for 5% cash back on Lyft. But you might be able to get a better return than 1.5% on other purchases if you have another Chase card in the Ultimate Rewards program.
The rewards you earn can be transferred over to certain other Chase cards. Then you can redeem them for a 25% or even 50% bonus, or transfer them again to one of Chase’s travel partners where they could be worth the most.
Earning
| Spending Rewards |
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| Introductory Bonus Offer |
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It’s a very simple and easy to understand rewards program. You won’t have to think about bonus categories, and which card to use for which purchases.
However, a great strategy is to pair a flat-rate cash back card like this with other credit cards that do have bonus categories. That will let you earn more rewards on certain purchases, while still getting 5% cash back on Lyft rides and 1.5% back on everything else.
Take the Ink Business Cash, for example. It provides 5% cash back on Lyft rides, 5% cash back on the first $25,000 spent at office supply stores and internet, cable, and phone services, along with 2% back on the first $25,000 spent at a restaurants and gas stations. You could use the Business Cash for all those purchases, and then the Business Unlimited for everything else.
There are many different cards available, with different bonus categories. The right combination of cards for you will depend on your particular business expenses.
Insider tip
The Ink Business Unlimited is the business version of a different Chase card meant for regular consumers, the Chase Freedom Unlimited® (Review). It also offers 5% cash back on Lyft rides and 1.5% back for every other purchase, and has a $150 cash bonus for spending $500 in the first 3 months.
Redeeming
The cash back you earn will actually come in the form of points — 1.5X Ultimate Rewards points per dollar. But it’s easiest to just think of this as a cash back card, except for when it comes to reward transfers.
We recommend transferring your cash back to a different Chase card, as explained below. If you don’t have an eligible card to transfer to, your next best option will be statement credits.
Your regular cash back redemption options are:
- Statement credits
- Gift cards
- Travel expenses
- Merchandise from participating retailers
The best regular redemption option is for statement credits. They simply reduce your account balance, and will always provide the full value of $1 for every $1 in cash back that you earned.
The other methods will offer varying redemption values, and you won’t typically get the full $1 for every $1 that you earned. They’re also more of a hassle to select, and they take longer to process.
Transferring Rewards to a Different Chase Card
If you have another Chase card in the Ultimate Rewards program, you can transfer the cash back you earn with the Ink Business Unlimited over to it. Every cent of cash back will be worth 1 point in the Ultimate Rewards program. This could end up giving you a better rewards value overall.
There are three other Chase cards that you can use to get a better value for your cash back. It doesn’t matter that some are consumer cards and others are business cards, you can transfer rewards between all of them.
These cards provide a bonus when redeeming through Ultimate Rewards:
- Chase Ink Business Preferred Card (Review): 25% point bonus
- Chase Sapphire Preferred Card (Review): 25% point bonus
- Chase Sapphire Reserve (Review): 50% point bonus
These three cards also allow you to transfer points to a number of traveler loyalty programs at a 1:1 rate, including both airline and hotel partners. You can often get the best value for Ultimate Rewards points by converting them to airline miles or hotel points.
So, the basic strategy here is:
- Earn cash back with the Ink Business Unlimited
- Transfer that cash back to one of the three cards above, where it will be counted as Ultimate Rewards points
- Redeem or transfer your points:
- Redeem through Ultimate Rewards to get a point bonus of 25% or 50%, depending on which card you have.
- Transfer your points to an airline or hotel loyalty program where they may be worth more to you.
If you put all the rewards you earn through this process, you’ll effectively be getting more than 1.5% cash back with the Ink Business Unlimited. If you end up getting a 25% point bonus you would get a cash back equivalent of 1.875%. And if you get a 50% point bonus, your cash back equivalent would be 2.25%.
In some cases you may get as much as 2 cents per point when transferring to an airline or hotel program. That would give you a cash back equivalent of 3%, twice as much as you can get through a normal redemption method.
The Benefits
In many cases some terms and restrictions will apply to your card benefits. Check your Guide to Benefits to learn the exact details of your benefits.
- Chase Offers: Find exclusive discounts to nearby merchants, based on your spending with the card.
- Free Employee Cards: You can get up to 70 employee cards, and set individual spending limits for them. You’ll earn cash back for all spending on employee cards.
- Purchase Protection: Eligible purchases are covered against damage, theft, or “involuntary and accidental parting with property.”
- Extended Warranty Protection: Eligible items with warranties of three years or less can have those warranties extended by an additional year.
- Roadside Dispatch: Access a convenient service that you can call if you ever get in trouble while driving. Call 1-800-847-2869 to speak with a dispatch agent.
- Auto Rental Collision Damage Waiver: Insurance against damage and theft of rented vehicles, as long as you decline the rental company’s own insurance
- Baggage Delay Insurance: If your bags are delayed for more than six hours you can be reimbursed for the purchase of essential items, like toiletries and clothing.
- Lost Luggage Reimbursement: Having an airline lose your bags can be a nightmare, but you can sleep a bit easier with Lost Luggage Reimbursement. If you’re traveling by common carrier and it loses your checked or carry-on baggage, you can be reimbursed for eligible costs.
- Travel and Emergency Assistance Services: Call the number on your card for emergency help while traveling, including legal and medical referrals.
- Travel Accident Insurance: Coverage against accidental death and dismemberment while traveling by common carrier
- Fraud Protection: Real-time fraud monitoring for unauthorized activity
The Terms & Fees
| Purchase APR | Balance Transfer APR | Cash Advance APR |
|---|---|---|
| 0% for 12 months, then 13.24% - 19.24% Variable | 13.24% - 19.24% Variable | 24.99% Variable |
| Annual Fee | Foreign Transaction Fee |
|---|---|
| $0 | 3% of each transaction in U.S. dollars |
| Balance Transfer Fee | Cash Advance Fee |
|---|---|
| Either $5 or 5% of the amount of each transfer, whichever is greater. | Either $15 or 5% of the amount of each transaction, whichever is greater. |
| Penalty APR | Late Fee | Returned Payment Fee |
|---|---|---|
| Up to 29.99% Variable | $39 | $39 |
You’ll pay no annual fee to use this card, and there’s a solid 0% intro APR offer to use for purchases.
The terms are pretty straightforward. Take note that you’ll pay a fee on foreign transactions, so look to a different card with no fees, like a travel card, if you need to make purchases outside the U.S.
Insider tip
A different business card from Chase, the Ink Business Preferred, has no foreign transaction fee but also comes with a $95 annual fee.
What is the Credit Limit of the Ink Business Unlimited?
The Ink Business Unlimited comes with a credit limit of at least $3,000. Your credit limit will be based on your creditworthiness when approved. Chase may request more information for credit lines above $25,000.
You can increase your credit line later on by requesting it from Chase. And Chase may automatically increase your limit with responsible credit behavior.
The Bottom Line
The Chase Ink Business Unlimited Card is a good option for small business owners who want a flat-rate cash back card for general spending.
You’ll get 5% cash back on Lyft rides and 1.5% back for every other purchase, so other than the temporary Lyft rewards, there’s no need to think about bonus categories. There’s a hefty intro bonus, and a nice 0% intro APR. The extra benefits aren’t bad, but they aren’t the star of the show either.
All this comes for no annual fee, making it easy to profit with this card. Just avoid being charged interest, which can quickly eat up any cash back you earn.
There are quite a few other business credit cards out there, some with annual fees and some without. One of them might fit your business better than the Ink Business Unlimited, so check some out below.
How to Apply for the Ink Business Unlimited
You can apply for the Ink Business Unlimited card securely on Chase’s website, and they’ll check your personal Equifax credit report when you apply.
Usually applicants can get an instant response, but sometimes it might take longer. In certain cases Chase may request more information to process the application.
Qualifications and Requirements
- Must be 18 to apply (19 for AL and NE; 21 for PR)
- Personal information: Including SSN and finances
- Business information: Your business’ legal name, Tax ID number or EIN (Employer Identification Number), years in business, number of employees, annual revenue/sales
- Self-employed: People who are self employed, contractors, or freelancers can use their SSN instead of a Tax ID number
- Chase 5/24 rule: Many people report being denied for Chase cards for having five or more new credit card accounts in the last 24 months
Alternatives to the Ink Business Unlimited Credit Card
If you want to consider more options, or if you’re just not that into the Chase Ink Business Unlimited, take a look at some alternatives we’ve listed below.
The Ink Business Cash® Credit Card (Review) is a very similar offering from Chase, with the only difference being the rewards program.
With this card you’ll earn over double the cash back you would with the Ink Business Unlimited. The only caveat is, you’ll only earn 5% cash back on a specific set of categories. These include office supply stores and internet, cable, and phone services. You’ll earn 2% on more common purchases of dining and gas, and 1% on all other purchases.
Everything else is exactly the same as it is with the Business Unlimited. So you could use these cards together, earning 5% on those specific categories and 2% on gas and dining, and then using the Business Unlimited for all of your other purchases.
| Spending Rewards |
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| Introductory Bonus Offer |
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- Shopping protections: Get extended warranty, and eligible purchases are covered against damage, theft, or “involuntary and accidental parting.”
- Travel protections: Travel and emergency assistance services, roadside dispatch, lost luggage reimbursement, baggage delay insurance, travel accident insurance, and rental car insurance.
- Free employee cards: You can get up to 70 employee cards, and set individual spending limits for them.
- Purchase APR: 0% for 12 months, then 13.24% - 19.24% Variable
- Balance Transfer APR: 13.24% - 19.24% Variable
- Annual fee: $0
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn 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
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- 0% introductory APR for 12 months on purchases
The Ink Business Preferred® Credit Card (Review) is a higher-tier business card from Chase, aimed towards small business owners who travel.
With this card you’ll earn points over a variety of different categories, including travel, shipping, internet, and phone services. So the rewards are pretty different compared to the Ink Business Unlimited.
The Ink Business Preferred has a few more options when it comes to redeeming those rewards, including some great point transfer partners, which could net you a higher return if you find a good deal with one of Chase’s airline or hotel partners.
You will, however, have to pay $95 per year for the Chase Ink Preferred, and there is no 0% intro APR. But there are also no foreign transaction fees, unlike the Ink Business Unlimited. That feature, along with the transfer partners, make it an obviously better choice for travelers or anyone who will regularly make purchases outside the U.S.
| Spending Rewards |
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| Introductory Bonus Offer |
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- 25% point bonus: When redeeming for travel through Chase Ultimate Rewards
- Point transfer: Transfer points at a 1:1 rate to a variety of airlines and hotels, like United, JetBlue, Marriott Bonvoy, and Hyatt.
- Free employee cards: You can get up to 70 employee cards, and set individual spending limits for them.
- Cell phone protection: Provides up to $600 in coverage for theft or damage when you pay your cell phone bill with the card.
- Shopping protections: Get extended warranty and purchase protection: Eligible purchases are covered against damage, theft, or “involuntary and accidental parting with property.”
- Travel protections: Travel and emergency assistance services, trip cancellation/interruption insurance, and rental car insurance
- Purchase and Balance Transfer APR: 15.99%-20.99% Variable
- No foreign transaction fee
- Annual fee: $95
- Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
- Redeem points for cash back, gift cards, travel and more – your points don’t expire as long as your account is open
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
- Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- $95 Annual Fee
The Capital One Spark Cash Select for Business (Review) has a rewards program that’s almost identical to the Ink Business Unlimited. There are a few differences in their benefits and terms.
This card earns 1.5% cash back on every purchase, just like the Chase card. However, it does offer far less for the intro bonus while still requiring the same spending limit to qualify, and has a shorter 0% introductory APR. What it does have is no foreign transaction fee, making it more valuable than the Chase card if you do business overseas.
The Spark Cash Select also has a slightly more impressive perk selection, with benefits like Price Protection and Lost Luggage Reimbursement.
So if you’re looking for a business card that has somewhat shinier perks and is less expensive abroad, this might be one to consider (see other business cards without foreign transaction fees).
| Spending Rewards |
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- Shopping and travel protections: Purchase Security, Price Protection, Cell Phone Protection, MasterRental Insurance Coverage, Lost Luggage Reimbursement, and more
- Purchase APR: 0% for for 9 months, then 13.99% - 23.99% (Variable)
- Balance Transfer APR: 13.99% - 23.99% (Variable)
- No foreign transaction fee
- Annual fee: $0
- Earn unlimited 1.5% cash back for your business on every purchase, everywhere, no limits or category restrictions
- Earn a one-time $200 cash bonus once you spend $3,000 on purchases within the first 3 months from account opening
- Save on interest with 0% intro APR on purchases for 9 months; 13.99% – 23.99% variable APR after that
- No annual fee
- Free employee cards, which also earn unlimited 1.5% cash back on all purchases
- Rewards won’t expire for the life of the account, and you can redeem your cash back for any amount
- $0 Fraud Liability if your card is lost or stolen
- No foreign transaction fees
The information related to Capital One Spark Cash Select for Business has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.
If you have the Chase Ink Business Unlimited Card, how do you like getting 1.5% cash back for every purchase? Let us know by leaving a comment below.
Brendan Harkness
Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.
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