Chase Ink Classic Business Card Review | Up to 25,000 Bonus Points
|
|
Chase Ink Classic Business Card Review | Up to 25,000 Bonus Points
Are you a business owner looking for more ways to save? Chase’s Ink Classic card offers an excellent rewards program that just might be what you’re looking for (if you qualify for it). This card is designed for small businesses and sole proprietors that want a simple rewards program and no annual fee. It’s also a good fit for those who want to earn points (Ultimate Rewards Points) toward free travel on all of their business purchases but don’t want to be restricted to any single airline or hotel program.
The biggest benefit of cash back credit cards is of course that you can redeem your rewards in the form of cash, which you can use to offset your business expenses. The more qualifying business expenses you put on your card, the more cash you’ll get back.
Features
In a nutshell, the Ink Classic offers the opportunity to:
- earn 5 points per dollar spent, up to $25,000 each year on office supplies, phone service, cable, and wireless internet
- earn 2 points per dollar spent, up to $25,000 each year for travel purposes (fuel and lodging)
- earn unlimited rewards (1 point per dollar spent) on anything else
- get a one-time bonus of 15,000 points after first purchase
- get a one-time bonus of 10,000 points after $5,000 is spent in the first 3 months of card ownership
- pay no annual fee
- get 0% introductory APR on purchases for 6 months; no interest on your purchases from the date you open you account until the close of your 6th monthly billing cycle
- get 0% introductory APR on balance transfers for 6 months; transfer outstanding balances from higher-interest rate cards and pay no interest on those balances for the first 6 monthly billing cycles you have your account
- get free additional cards for employees (no per-card fees); earn points/cash back on additional cards; set spending limits on each card
- get free monthly statements and quarterly management reports; expenses are itemized and categorized to to streamline tracking of business spending
- get Zero Liability Protection; you are not liable for unauthorized purchases made with your Ink business card.
- get other benefits like travel accident insurance, auto rental insurance, roadside dispatch, baggage delay refund, 24/7 real-person customer service, purchase protection, extended warranty, fraud early warning service, etc.
Because your points never expire, your bonus 25,000 points amount to $250 that you can redeem towards travel, experiences, gift cards, merchandise, and more anytime you want.
In keeping with its intent to be a true business credit card, the Ink Classic’s rewards are specifically designed to benefit a business user by providing the most rewards points for expenses that are vital to most small businesses. The Ink Classic card is a good option for the business owner that travels regularly. You get double points when airfare is purchased through Ultimate rewards, as well as complimentary access to over 600 airport lounges in more than 100 countries worldwide for one year for two members. The first two lounge visits are free, then Ink cardholders simply pay a discounted rate of $27 per person per visit for themselves and any accompanying guest(s) when visiting a participating lounge. This offer is valid for only your first year.
Chase Blueprint system
You get to control which expenses you pay down each month, which balances to tackle first, and even how fast you want to pay off the balances you carry on your card. Choose from:
- Full Pay. Avoid paying interest on what you choose by paying for them right away, even if you carry a balance on other items.
- Split. Manage large purchases more effectively by making monthly payments towards paying them off. it separates the larger purchase from the rest of your balance on your statement so you can set a goal date and monthly payment, and get to work paying it off.
- Finish It. Pay off your debt faster by choosing a goal date or monthly amount, Chase handles the rest in the background.
- Track It. Get feedback on how your money has been spent by seeing spending trends so you can track your progress and goals.
These tools let you decide what you pay and when, and even let you avoid paying interest in spending categories you use the most. This way you can better manage your finances, get out of or stay out of debt, earn better rewards with your card, and generally pick up healthy financial habits that will help you out in the future.
Related: Chase Bank & ChexSystems
Terms & Conditions
- 13.24% to 19.24% annual APR and balance transfer APR after initial 6-month introductory offer
- 19.24% to 23.24% APR for cash advances
- 29.99% penalty APR
- $15 for balance transfers or a 5% fee, whichever is higher
- 3% foreign transaction fee
Verdict
As you can imagine from its requirements, it will be difficult for new businesses to qualify for this card. If you own a growing small business and you qualify, definitely consider the Chase Ink Classic Business Card. Its simple and convenient rewards program and the fact that those rewards never expire make it a great card for businesses that choose to use credit cards to pay for all of their purchases and then pay off the bill every month.
How to apply
You can apply for the Ink Classic business card online; if you qualify, you will get you approval instantly. Keep in mind that both a tax identification number and a legal business name are required in order to apply, and your company will need to have a great Dunn & Bradstreet score in order to qualify for this card.
Credit score needed
Credit score requirements: Excellent (750+) – [What's a good credit score?]