Chase Ink Business Unlimited Review
The Chase Ink Business Unlimited card is one of Chase’s newer business credit cards. Launched in May 2018, it’s the business analog of the Chase Freedom Unlimited consumer credit card. We here at Merchant Maverick have found a lot to like about Chase’s two other business cards. Will the Ink Business Unlimited live up to the rest of the Chase stable?
Like Chase’s Ink Business Cash card, the Ink Business Unlimited is a cash back card. However, unlike the Ink Business Cash, which offers differing rates of cash back depending on your purchases and limits the amount of cash back you can earn, the Ink Business Unlimited offers unlimited 1.5% cash back on all purchases. Combine this with no annual fee, a generous welcome offer, and a 12-month 0% introductory APR, and you have the makings of an impressive business credit card.
Is the Ink Business Unlimited a good fit for your business? Read on to learn more about the card and how it compares to other cash back business cards.
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Chase Ink Business Unlimited At A Glance
Chase Ink Business Unlimited
14.74% – 20.74%, Variable
Business applicants typically must have good to excellent credit to be approved for the Ink Business Unlimited card. That means you’ll likely want a credit score of 640 or higher before applying.
Don’t know your credit score? Find out via one of these free websites.
Rewards For Spending
With an unlimited 1.5% cash back and a solid welcome offer, Chase Ink Business Unlimited certainly offers a rewards scheme that’s worth a look.
A $500 Welcome Offer
With the Ink Business Unlimited in hand, you’ll be eligible to receive a $500 bonus. To trigger this extra cash bundle, you’ll need to spend at least $3,000 in the first three months after you open your account. Chase will deliver the bonus six to eight weeks after you hit the spending mark.
Unlimited 1.5% Cash Back
This card doesn’t have a complicated rewards scheme; it is simply an unlimited 1.5% cash back for all purchases.
While other cash back cards might offer higher cash back earning rates (such as 2% or 5%) for specific kinds of spending, these cards almost always limit the amount of cash back you can earn at these higher rates. If your business spending far exceeds these limits, you stand to earn more cash back with a no cap cash back card such as the Ink Business Unlimited — even if you could be earning a higher rate of cash back on a portion of your spending.
Note that, technically, this card is marketed as a cash back card, but the rewards you receive will get credited to your account in the form of points.
5% Cash Back On Lyft Rides
Via a partnership with the ridesharing company Lyft, all Chase Ink cards currently receive 5% cash back (or 5x points) when used for rides with Lyft. This limited-time partnership between Chase and Lyft runs through March 2022. If you plan to use the Ink Business Unlimited for booking rides frequently, this offer could make the card very appealing.
Up To $750 Cash Back Per Year For Referrals
Once an Ink Business Unlimited card finds its way into your wallet, you’ll be able to collect extra cash back by referring the card to other businesses. Each business referral that gets approved for an Ink Business Unlimited card will score you $150 extra in cash back. Chase caps the total you are able to earn here at $750 each calendar year; this means you can refer up to five separate businesses each year.
Marketed as a cash back card, Ink Business Unlimited will, unsurprisingly, enable you to receive rewards in the form of cold hard cash. Chase provides other avenues for redemption as well.
Redeem Rewards For Cash Back
While the Ink Business Unlimited is a cash back card, your rewards technically come in the form of Chase Ultimate Rewards points. You get 1.5 points for every dollar spent, and each point is worth one cent. You can redeem your points for cash back by way of a statement credit or an electronic deposit into an eligible US checking or savings account.
Additional Redemption Options
Beyond the above cash back options, Chase features a few other redemption methods, including gift cards, entertainment experiences, and purchases made via the Apple Ultimate Rewards Store or on Amazon.com.
You can additionally book travel through Chase’s portal using your available points. Available bookings here include rental cars, hotel stays, and flights. In most cases, there are no restrictions or blackout dates on airfare.
As can be expected with an issuer of Chase’s caliber, the Ink Business Unlimited features an array of extra benefits. These perks will help out travelers, your employees, and more.
Free Employee Cards
This card enables the option to request employee cards at no additional cost. You’ll be able to set spending limits on these cards as well as earn rewards whenever an employee makes a purchase.
Auto Rental Collision Damage Waiver
If you rent a car using an Ink Business Unlimited card, you’ll be eligible to receive coverage against theft or damage. Note that to gain access to Chase’s coverage, you must pay in full with your card and decline any damage waivers presented by the rental car company. Chase’s coverage is primary when you rent a car for business use.
Travel & Emergency Assistance Services
Should you encounter a problem while traveling, Chase operates a phone line that can give legal and medical referrals as well as other travel and emergency assistance services. Note that you will need to pay for any goods or services obtained.
Breakdown on the road? You’ll be able to give Chase’s roadside dispatch service a call. This service can help with an array of car troubles, including jump starts, tire changes, gas delivery, and lockouts. Like with Chase’s travel services, you’ll be on the hook for any charges that come your way.
Chase’s purchase protection policy will cover new purchases made with the Ink Business Unlimited for up to 120 days. This protection covers damage or theft for up to $10,000 per claim and $50,000 per account.
Extended Warranty Protection
Eligible warranties for items purchased with the Ink Business Unlimited card may qualify for an extended warranty of up to one additional year. Manufacture warranties three years and above won’t be eligible for Chase’s extra protection.
Account Management Tools
There are several features Chase bundles in with this card to help with account management. These include:
- 24/7 access to view account details, quarterly reports, and more
- Integration with bookkeeping software
- Account alerts
Chase offers card users fraud protection in case purchases are made on the card without your consent.
Rates & Fees
As with any credit card, there are additional fees when it comes to the Ink Business Unlimited. That said, there are a few positives in this section.
A Reasonable APR
This card’s APR is very competitive when stacked against the competition. Its rates between 14.74% – 20.74%, Variable will mean that even those with the highest APR may still see a lower number when compared to other cards on the market.
No Annual Fee
A real plus for the Ink Business Unlimited is its lack of an annual fee. Without an annual fee, every purchase you make will earn you that 1.5% cash back — you won’t need to offset an annual fee first.
Watch Out For A Foreign Transaction Fee
If you travel overseas, it’s worth noting that the Chase Ink Business Unlimited does carry a 3% foreign transaction fee. This fee will mean that those who venture abroad for business frequently may want to look elsewhere for their next bit of plastic.
There are a few additional standard fees to keep in mind with this offering from Chase. For balance transfers, expect to pay either $5 or 5% of the transaction (whichever is higher). Cash advances will cost an extra $15 or 5% of each transaction (whichever is higher).
When it comes to both late and returned payments, your fee will be the standard $39.
Is Chase Ink Business Unlimited Right For You?
The Chase Ink Business Unlimited features a simple rewards scheme that will fit numerous merchants. Coupled with a solid welcome offer and no annual fee, this card may be difficult to pass up. However, frequent travelers should note the card’s foreign transaction fee. Others may want to avoid the Ink Business Unlimited if they only spend in a couple of specific categories or if they’ll spend enough to offset an annual fee on a higher-rate card.
Should you apply for Ink Unlimited from Chase?
You might want to apply if…
- You spend in a number of different categories
- You can’t afford to pay an annual fee
- You can spend enough to trigger the welcome offer
You might want to look for a different card if…
- Most of your spending is in one or two categories that could earn better rewards with a different card
- You spend enough to offset an annual fee on a 2% cash back card
- You travel frequently and want to avoid a foreign transaction fee
- You want a dedicated card for points or travel
We've done in-depth research on each and confidently recommend them.
We've done in-depth research on each and confidently recommend them.