There are a ton of business credit cards out there, and many have their own unique advantages. A large part of deciding which card is right for you is to look at the benefits and features of each, and basing your decision on whether or not those work the best for your business.
Some of the best choices are Chase business credit cards. There are a couple of different types, and you’ll have to determine which one will work the best for you, but they share these seven common benefits.
Generous Reward Programs
There are two primary types of Chase Ink business credit cards. One is the Ink business preferred card, and the other is the Chase Ink Business Cash credit card. Both have generous rewards programs, but they are different in some key areas.
- Ink Business Preferred Rewards: These cards offer 3 rewards points for every dollar you spend in 4 categories: travel, shipping, search engine and social media advertising, and cable, phone, and Internet service. The most beneficial rewards come in the Chase Ultimate Rewards programs, which gives you rewards toward travel.
- Ink Business Cash Credit Card: For the first $25,000 you spend at office supply stores and on cell phone, landline, Internet and cable TV services, you’ll get 5% cash back. For the first $25,000 you spend at gas stations and restaurants, you’ll get 3% cash back. Beyond those limits or outside those categories, you’ll earn 1% cash back with no limit on how much you can earn.
Either way, rewards accumulate quickly, and if you use the cards to invest in your business or for spending you are doing anyway and then pay them off monthly, both cards can be great for you.
Small Business Friendly Categories
Note that the categories Chase rewards through the Ink card programs are all small business friendly. They are probably places where you are spending already. Think of the breakdown above:
- Digital Marketing
- Cable, Phone, and Internet Service
- Office Supplies
- Gas Stations
These are categories where nearly every business spends money. The Ink Business Preferred Card is better for those who travel more, while the Ink Business Cash is better for those looking for cash benefits who don’t do as much international or domestic travel.
No matter what your preference, the reward categories are ones that will be friendly to your business.
Low or No Annual Fee Options
For the Ink Business Preferred Card, there is a small annual fee of $95. If you spend at least $5,000 in the first three months you have the card, those rewards will already pay back your fees. However, even if you don’t, your rewards will quickly pass the amount you spend on your annual fee, a great return on your investment.
Believe it or not the Ink Business Cash card does not have an annual fee at all. There is no fee to be enrolled in the rewards program. With the introductory 0% interest rate for the first 12 months, the rewards you earn are like free money.
Introductory Interest Free Period
Speaking of the interest free period, the Chase Ink Business Cash card offers one of the longest and best interest free introductory periods of any business card. That means you can pull the trigger on that big purchase you have been waiting to make without worrying about interest accumulation as long as you pay it off in the first year.
This is a great advantage, almost like a working capital business line of credit.
Card Options to Match Your Spending
The two best business card options are designed to match the spending you are already doing or the spending you anticipate doing over the next few years. You can choose the card that best matches the way you do business.
With more business being done on the internet, and travel becoming a more common component of small business, often the Chase Business Preferred card is a great choice. An extra tip for these type of situations, you can always opt for online loans, because they are flexible and can provide a great number of benefits.
International Travel Options
The Chase Business Preferred card has options that will save you money when you travel internationally. Not only will you be able to redeem your rewards points toward travel, but you won’t pay any foreign transaction fees when you use your card outside the country. For international business travelers, this is huge. Your rewards can also be redeemed for both domestic and international travel credit, making them even more valuable.
A Card that Grows with You
No matter what Chase Ink business card you have chosen, it is a card that can and will grow with you and your business. As your business matures and your needs change, you can get a larger credit limit, and the rewards program will continue to pay you back for investing in yourself and your business.
The Chase Ink Business credit card is not right for everyone, but for most businesses, there is a choice that will work for them and the goals they are trying to accomplish.
Are you thinking of applying for a Chase Ink business credit card? What would you allocate your new found source of funds to? Leave us a comment in the section below.