From annual percentage rates to annual fees and from cash-back rewards to bonus points, there is a lot to consider before applying for a business credit card. Though consumers are more frequently turning away from big banks in favor of fee-free credit unions and web-based banks, a few of the big-name institutions remain top contenders in the lending world due to their innovative products and enticing promotions. Chase Bank is one of them.
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What To Look for in a Chase Business Credit Card
The type of business credit card you are eligible for and the incentives you can expect from a Chase product will depend largely on your personal credit history, the history of your business, and your annual revenue. However, in an effort to appeal to owners of businesses of all sizes and profit levels, Chase has standardized many of its perks. As a result, many of its customers enjoy no annual fees, cash-back rewards, cash bonuses, discounted services, and more when they sign up for a Chase credit card.
Ink Business Cash Credit Card – Best Fee-Free Card
With no annual fee and a $750 sign-up bonus if you meet the $7,500 purchase requirements within the first three months, the Chase Ink Business Cash® card is an attractive option for small- to medium-sized businesses that are looking to maximize their purchase power. For the first $25,000 you spend on combined business expenses each year, earn 5% cash back; for the first $25,000 spent on combined restaurant and gas station purchases, earn 2% cash back; and for every other purchase, earn 1% cash back. Benefits never expire, and there is no limit to the amount of cash-back rewards you can accumulate.
Ink Business Preferred Credit Card – Best Sign Up Bonus
Chase Bank offers some of the most enticing enrollment bonuses to new and existing customers who sign up for new accounts. Of the bonuses, the one associated with the Ink Business Preferred® Credit Card is one of the best.
When you spend $15,000 within the first three months of opening your account, you will receive 100,000 Ultimate Rewards points, which translates to about $1,250. If you use the points toward travel expenditures of any kind, such as hotel stays, airfare, rental cars and cruises, they are worth 25% more. When you spend in select business categories, earn three times the points.
During the first year, you earn three points per $1 up to $150,000. For each dollar you spend thereafter, you earn one point. This card does come with a $95 annual fee, which you can easily cancel out with rewards points.
Southwest Rapid Rewards® Performance Business Credit Card – Best Rapid Rewards
Want to rack up rewards quickly? The Southwest Rapid Reward® card is one of the best ways to do so. Though sponsored by an airline, you can earn rewards quickly by using the card for everyday expenditures. Of course, you can earn the most points — three times the rewards — when you make any Southwest Airlines purchase with your card. Earn two times the points when you use the card on internet, cable or phone services or for social media or search engine advertising. For all other purchases, earn standard rewards.
The sign-up bonus is good, as well. Automatically earn 100,000 points upon approval. If you spend $5,000 within the first three months of opening the account, earn another 70,000 points, and earn an additional 30,000 points when you spend $25,000 within the first six months.
Chase Ink Business Unlimited® – Best for Ongoing Cash Back
When you use your Chase Ink Business Unlimited® credit card, you earn 1.5% cash back on all purchases. Upon approval, and after making $7,500 worth of purchases within the first three months, receive a $750 bonus. The only real drawback to this card is 3% foreign transaction fee.
United Business Credit Card – Best Travel Rewards
If you travel a lot for business, the United Business credit card may be the best Chase business credit card for you. Automatically receive 75,000 bonus miles after meeting purchase requirements within a few months of receiving the card. This is enough to make a roundtrip flight to Europe or to fly business class on all domestic flights. Additionally, when you use the card to purchase flights through United Airlines, you and one other passenger get one free checked bag and enjoy priority boarding.
The card comes with ongoing perks as well. For every $1 you spend on qualifying purchases, earn two United miles. Qualifying purchases include those made at gas stations, restaurants and office supply stores, on eligible delivery services and, of course, on United Airlines purchases. For all other purchases, earn one mile per $1 spent.
For the first year, the card is fee-free. After the first year, the annual fee jumps to $99.
If you already bank with Chase, then it makes sense to streamline your business and personal banking needs by opening a Chase business credit card. If you want to explore more options before you jump on just any offer, check out our blog.
