Edited by: Jessica Merritt
& Kellie Jez
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Selecting the right Chase business credit card to leverage the purchasing power of your business is an important step. You’re securing more than just a vehicle for facilitating business purchases; you’re initiating a long-term relationship with a leading financial institution that dominates the credit card rewards arena.
You’re also deciding to earn rewards on every purchase your business makes — and that’s a brilliant choice! You’re spending those dollars regardless, so why not earn rewards?
You’ll earn rewards on every purchase regardless of which Chase business credit card you select. However, choosing the card that aligns best with your business spending patterns will ensure you earn the most rewards possible.
That’s our objective today. We’ll dig deep into the benefits, bonus categories, and annual fees of each of the 4 popular Chase business credit cards. And we’ll highlight the earning power of each card and cover what you can expect when redeeming your rewards
Let’s get started with our comparison of the Ink Business Preferred® Credit Card, Ink Business Cash® Credit Card, Ink Business Unlimited® Credit Card, and the Ink Business Premier℠ Credit Card to find out which is the best fit for your business.
|Card||Welcome Offer and Annual Fee||Best For|
|Ink Business Preferred® Credit Card||
||Best for Earning Points|
|Ink Business Cash® Credit Card||
||Best for Cash Back in Multiple Categories|
|Ink Business Unlimited® Credit Card||
||Best for Simple Cash Back Earnings|
|Ink Business Premier℠ Credit Card||
||Best Cash Back for High Spenders|
The IRS is generous in its definition of what constitutes a business, as evidenced by this quote from its website:
“A trade or business is generally an activity carried on for a livelihood or in good faith to make a profit…You do not need to actually make a profit to be in a trade or business as long as you have a profit motive.”
While the IRS considers any endeavor that intends to make a profit to be considered a business, you’ll want to have your information well-organized when applying for a Chase business credit card. Chase is not just issuing you a credit card; they’re considering the overall picture and your potential for future business.
Follow these tips when applying for a Chase business credit card:
Expect to provide the following information.
See our complete guide for additional tips on applying for and qualifying for a business credit card.
Once you’ve applied for a Chase business credit card, you can monitor the status of your application. Here’s our primer on how to do that, plus how to handle a denial (if applicable).
Chase’s popular business credit cards — Ink Business Preferred card, Ink Business Cash card, and Ink Business Unlimited card — all offer elevated earnings on business purchases, a variety of redemption options, and travel and shopping benefits.
The mix of your business spending, how you’ll use your rewards, and your tolerance for paying an annual fee should all influence your card selection.
Chase’s Ink business credit cards earn rewards in the form of Ultimate Rewards points, which can be redeemed in various ways (including travel and cash-back). The exception is the Ink Business Premier card, which has points that cannot be transferred to travel partners. We’ll focus on redemption options later in this article, but first, let’s look at how each card earns these reward points.
Pay particular attention to how each Chase business credit card aligns with the specific purchases your business makes regularly.
|Chase Business Credit Card||Ultimate Rewards Points Earnings|
|Ink Business Preferred Card||
|Ink Business Cash Card||
|Ink Business Unlimited Card||
|Ink Business Premier Card||
Let’s look at how these earning rates translate into the rewards you’ll earn. For illustration, let’s assume your highest annual business expenses are the following:
Here’s how your earnings would look with each card:
If we change the mix of your top business expenses, your results will differ. Now let’s assume the following spending:
Here’s how the cards compare on earnings with this different spending mix.
As the examples illustrate, the best Chase business credit card for earning rewards on your business purchases will depend on the mix of your highest expenses and whether these expenses fall into the bonus earning categories.
Remember that you’ll earn rewards on every purchase your business makes, not just bonus category purchases. These examples focus on the highest expenses only.
The mixture of your business spending will determine which is the better card in terms of earning power for your business.
Regardless of which Chase business card you have, you’ll earn rewards in the form of Ultimate Rewards points (even with a cash-back rewards card). These points can be redeemed for travel, statement credits, cash, gift cards, and more.
|Chase Business Credit Card||Redemption Values|
|Ink Business Preferred Card||
|Ink Business Cash Card||
|Ink Business Unlimited Card|
|Ink Business Premier Card||
The Ink Business Preferred card is the winner when it comes to redeeming points for travel since points can be redeemed for 1.25 cents each via the Ultimate Rewards travel portal with no transfers necessary.
Cash-back earned with the Ink Business Cash card and Ink Business Unlimited card can be redeemed for cash-back, gift cards, and travel through Ultimate Rewards. For more value, cash-back can also be transferred to an Ink Business Preferred card, Chase Sapphire Reserve®, or Chase Sapphire Preferred® Card and then redeemed as Ultimate Rewards points for up to 1.5 cents per point.
How you plan to redeem your rewards will play a role in which credit card is best for your business. If your priority is to redeem your rewards for travel, you’ll want to have a premium Chase card, such as the Ink Business Preferred card.
Now that you have an idea of what your Ultimate Rewards points are worth at redemption time let’s talk about welcome offers.
Each business card we’re discussing offers a welcome offer once you’re approved for the card and meet minimum spending requirements. This initial influx of rewards is immediately available to redeem as soon as it is credited to your account.
The value of this spending bonus will vary depending on how you redeem your points, but if your redemption of choice is travel, you’ll find the Ink Business Preferred card offers the greatest welcome offer.
Several useful travel protections and benefits are offered on all 4 Chase business credit cards.
One benefit is offered only on the Ink Business Preferred card or the Ink Business Premier card, and it’s an important one:
You’ll receive purchase protection and extended warranty coverage with all Chase business credit cards:
The Ink Business Preferred card and Ink Business Premier card also provide cell phone protection. Receive up to $600 when you pay your wireless bill with your card if it is “damaged, stolen, or involuntary and accidental parting occurs.” There is a $100 deductible for this coverage and a limit of 3 claims per 12-month period.
You may also qualify for limited cell phone protection under Chase’s purchase protection or extended warranty coverage.
All 4 Chase business cards come with complimentary employee cards, ensuring that all your business spending earns valuable Ultimate Rewards points. You can also view or download quarterly and annual spending reports to help you track and manage expenses.
Both the Ink Business Cash card and Ink Business Unlimited card charge 3% foreign transaction fees. The Ink Business Preferred card and Ink Business Premier card do not charge foreign transaction fees.
There are plenty of prudent reasons for having a business credit card. Keeping personal and business expenses separated is a primary reason, but having a business credit card also makes business bookkeeping easier and creates a comprehensive reference at tax time.
Having a Chase business credit card allows you to earn rewards on every dollar your business spends. When it comes time to redeem your rewards, you can use them to offset business expenses or even fund a family vacation.
As we frequently emphasize, the right business card for you will be the one that matches your highest business expenses and aligns with how you’re going to utilize the rewards you’ve earned. The card should have benefits you can use and an annual fee you’re willing to pay.
In the case of Chase business credit cards, there really isn’t a wrong decision — only a choice that is better suited for your business at the moment. You may find that as your business changes and grows, you’ll need to re-evaluate which is the best card for your operation.
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