Business owners have their hands full juggling multiple tasks at once, from sales and marketing to accounting and human resources. With so much to take care of, tracking a rewards program on a business credit card is probably at the bottom of the list. The Ink Business Unlimited® credit card not only offers cash back to businesses, but its flat rate approach is perfect for a business owner looking for simplicity.
Details of Ink Business Unlimited
There’s more to Ink Business Unlimited than initially meets the eye, which is one of the reasons it continues to be a popular option among business owners.
- Awards: 1.5% flat rate cash back on all purchases
- Annual subscription : $0
- Welcome offer: $750 when you spend $7,500 on purchases within the first three months of account opening
- Introductory APR purchase: 0% introductory APR for 12 months (13.24% to 19.24% variable APR after)
- Introductory Balance Transfer APR: N / A
For every dollar spent on purchases with Ink Business Unlimited, you earn 1.5% cash back (although technically you are rewarded with Chase Ultimate Rewards points which can be redeemed for cash back at a value of 1 : 1).
Each Chase Ultimate Rewards point is worth 1 cent. Assuming you spent $1,000 on business purchases in a month, you would earn 150 points, which equals $15 in cash back.
There are no rotating reward categories to follow or certain categories where you earn more points than others. No matter what type of purchase for business, you will know exactly what you are earning.
You can earn rewards even faster if you also have employees authorized to use the card. Employee cards also have no annual fee, so you can earn points on their purchases with no annual fee.
Although earning rewards involves very little guesswork, when it comes to redeeming rewards, you have a range of options.
You can redeem your rewards for cash back at any time, making it a cash back credit card. There is no minimum amount of points to redeem and you can receive funds via credit or check.
Depending on your business needs, you can redeem points for travel purchases, gift cards or shopping excursions. You can use the points for purchases from popular merchants such as Amazon and PayPal, but keep in mind that this gives your points a value of around 0.8 cents.
Why Ink Business Unlimited is a good cash back card for business
Ink Business Unlimited offers redemption flexibility, which is one way to support business owners. From choosing cash back for your results to gift cards to use as employee incentives, Chase Ultimate Rewards points let you choose a redemption option that suits your business needs.
Your business needs change throughout the year and your monthly expenses may be different from day to day. For example, if you have a slight increase in travel spend in one month compared to another, with a flat rate cash back program, you have no additional upkeep to earn. Simply swipe or enter your card information and let your rewards accumulate.
How to Maximize Cash Back Earned with Ink Business Unlimited
Take advantage of the welcome offer
New cardholders can earn a $750 cash back welcome offer after spending $7,500 on purchases within the first three months of account opening. The $750 cash back goes straight to your bottom line and may be easier to achieve than you think.
While $7,500 is a decent amount to spend, the $750 cash back is just as significant compared to other business card offers with no annual fee. To get the welcome bonus, you can use Ink Business Unlimited for as many expenses as possible in the first three months, including employee cards, for expenses such as internet bills, annual dues, travel and any other element related to the management of your business.
Be strategic with the 12-month 0% introductory APR
The 12-month 0% introductory APR on purchases is the perfect time to make the largest purchases your business needs (13.24% to 19.24% variable APR thereafter). It could be, for example, the new laptop or the software licenses you need to run your business more efficiently.
By taking advantage of this interest-free offer, you can potentially save hundreds of dollars in interest (or more). The wisest course of action is to pay off the balance before the end of the one year period to avoid any potential interest charges.
Link it to other Chase credit cards
One way to maximize your earnings with Ink Business Unlimited is to pair it with another Chase credit card, and one that qualifies for travel rewards.
You can transfer rewards earned with Ink Business Unlimited to the Chase Sapphire Reserve® or Chase Sapphire Preferred® card, for example, then redeem those points for travel through the Ultimate Rewards portal for 50% or 25% more value, respectively. .
How do Ink Business Unlimited rewards compare to other cash back business cards?
How does Ink Business Unlimited compare to other cash back competitors in the market?
American Express Blue Business Cash Card
Like Ink Business Unlimited, the American Express Blue Business Cash™ Card offers no annual fee while cardholders earn cash back on business purchases.
With American Express Blue Business Cash, however, you earn 2% cash back capped on the first $50,000 in purchases per year. Once you hit that threshold, you’ll earn 1% cash back on all remaining purchases for the year.
As for a welcome offer, you can earn a $250 credit after making $3,000 in purchases in the first three months. And similar to Ink Business Unlimited, the Amex Blue Business Cash offers an introductory APR of 0% on purchases for 12 months (followed by a variable APR of 13.24% to 21.24%).
Capital One Spark Cash Plus
The Capital One Spark Cash Plus is another simple, all-inclusive business card option with cash back. You earn 2% cash back on all purchases throughout the year, with no caps or expirations on rewards.
There’s a $150 annual fee, making it a more expensive option. There is also no introductory APR offer on purchases or balance transfers. However, Spark Cash Plus does not charge foreign transaction fees (unlike Ink Business Unlimited), so it might be a better option for business owners who travel abroad frequently.
Mastercard credit card with personalized rewards Bank of America Business Advantage
The Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card offers a higher cash back rate, but with a caveat.
Cardholders earn 3% cash back on a category of their choice, such as office supplies, travel, gas stations or computer services. You also earn 2% cash back on all restaurant purchases (on the first $50,000 of combined choice category/restaurant purchases each calendar year, then 1% back).
There are no annual fees and you can enjoy an introductory APR of 0% for the first nine billing cycles (12.24% to 22.24% variable APR thereafter). In terms of welcome bonuses, you’re looking at a $300 credit after spending $3,000 in the first 90 days.
The bottom line
Ink Business Unlimited is a smart solution for business owners who like simplicity with a rewards structure, but also like flexible repayment options when it’s time to cash out.
With no annual fee and a generous interest-free offer on purchases, this cash back business card is definitely worth considering.