Chase recently launched a new business credit card called the Chase Ink Business Unlimited. The new card is strikingly similar to the personal Chase Freedom Unlimited card, with a few added benefits for business owners.
Chase Ink Business Unlimited
- Signup bonus: 50,000 Ultimate Rewards points after $3,000 of spend within the first 90 days of account opening
- Earn 1.5x on all purchases (no maximum amount)
- Free authorized user cards (for employees)
- Primary CDW (business); secondary CDW (personal)
Signup Bonus Value
Even though the signup bonus is advertised as "$500," it's issued as 50,000 Ultimate Reward points, which means that you can get a lot more value if you have the Chase Ink Preferred, Chase Sapphire Preferred, or the Chase Sapphire Reserve.
50,000 UR points signup bonus value:
- Cash rate = 1.00 CPP = $500
- Chase Sapphire Preferred or Chase Ink Preferred (Travel) = 1.25 CPP = $625
- Chase Sapphire Reserve (Travel) = 1.50 CPP = $750
- Transfer Partners via CSP/CSR/CIP 2.00 CPP = $1,000
Return on Spend
Signup bonuses are valuable because you're typically getting a good return on spend than you usually would with spending multipliers.
The return on spend is calculated by the method you choose to redeem points in the section above. For example, if you decide to cash out the 50,000 UR points, then your return on spend is only 16.7%.
Return on spend:
- $500 / $3,000 = 16.7% ROS
- $625 / $3,000 = 20.8% ROS
- $750 / $3,000 = 25.0% ROS
- $1,000 / $3,000 = 33.3% ROS
As a side note, if you need help meeting minimum spend, Plastiq is service that lets you pay merchants with a credit card at places that otherwise wouldn't accept card payments.
Who qualifies for a business card?
Most people who have side income outside of their full-time job can qualify for a business credit card. Some examples are tutoring on the weekends, babysitting, or any freelance work.
If you have a sole proprietorship with your first and last name in the company name, then you can typically use your SSN in most states. Be aware that banks have the right to ask you for the business paperwork and EIN.
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