What you need to know before getting the Ink Business Unlimited credit card
Chase offers several credit cards that earn valuable Ultimate Rewards® points. One of the best reward credit cards for daily spending is the Ink Business Unlimited® credit card. It earns you unlimited 1.5% cash back on every dollar you spend. Here are some things you should know before getting that credit card.
Earn unlimited 1.5% cash back per dollar spent
When using the Ink Business Unlimited® credit card, you will receive 1.5% cash back per dollar spent. There is no cap on how much cash back you can earn. You don’t need to register to earn these rewards and there are no bonus categories to remember.
On the other hand, there are no bonus categories for increased rewards. A lot rewards credit cards offer extra miles or points for purchases on travel or at restaurants, office supply stores or gas stations, to name a few. This is why some small business owners have multiple rewards credit cards to maximize the rewards they earn.
Earn the sign-up bonus
New cardholders can earn the following signup bonus: Earn $ 750 in bonus cash after spending $ 7,500 on purchases in the first 3 months after opening the account. Your bonus will appear in your account as 50,000 Hunt for Ultimate Rewards® points.
It’s not just a cash back card
Although the Ink Business Unlimited® credit card is advertised as a cash back card, the rewards are in fact Ultimate Rewards® points. These points can be redeemed for statement credits, a deposit to your bank account, travel, gift cards, or Apple purchases. Points are worth 1 cent each for cash back rewards and travel. The value received for gift cards and Apple purchases may vary.
How to get the most out of your points
The awards won by the Ink Business Unlimited® credit card can be transferred to other credit cards that earn Ultimate Rewards® points. Points can be transferred between these Chase credit cards on a 1: 1 basis at no charge.
Points transferred to any of these three credit cards can also be transferred to 13 partner hotels and airlines on a 1: 1 basis at no charge. Partners include World of Hyatt, Emirates Skywards, and Singapore Airlines KrisFlyer.
Employee cards are free
Business owners can add employee credit cards at no additional cost. Each employee will have their own credit card number so you can easily track their purchases. Individual credit limits can be set for each employee to limit risk. All purchases made by employees earn rewards as the primary cardholder.
Launch APR on purchases
This card offers an APR of Introductory APR of 0% on purchases for 12 months, then ongoing APR from 13.24% to 19.24% variable APR. This means that you will not be charged any interest on your purchases if you maintain a balance in the first year. Once the introductory period has expired, your rate will revert to the standard rate based on your creditworthiness.
Travel and shopping benefits are included
When using the Ink Business Unlimited® credit card for your purchases, it offers valuable additional protection. You will receive the primary rental car protection against theft or damage when hiring for business purposes. This rental car coverage is primary, so you won’t need to involve your personal insurer in the event of a loss.
Your purchases are also covered by purchase protection and an extended warranty. New purchases are covered for 120 days against damage or theft. Coverage can be up to $ 10,000 per claim for a total of $ 50,000 per account. Qualifying U.S. manufacturers’ warranties of three years or less are also extended for an additional year.
It charges foreign transaction fees
While there are many positive features of this credit card, this one is negative. When you make an international purchase, you will be charged a 3% foreign transaction fee. These fees add additional expenses to your transactions and can add up quickly. Keep this in mind if you are traveling overseas or making a purchase from a seller in another country.
No annual fee
Many reward credit cards with all of these features charge an annual fee, but the Ink Business Unlimited® credit cardthe annual fee of $ 0. As mentioned above, there is also no charge for adding employee cards.
The bottom line
If you are considering applying for the Ink Business Unlimited® credit card, it helps to know the benefits it offers. There are many great benefits available to business owners, such as unlimited 1.5% rewards, signup bonuses, and free employee cards.
How to Maximize Your Rewards
You want a travel credit card that prioritizes what’s important to you. Here are our choices for the best travel credit cards of 2021, including those that are best suited: