Ink Business Unlimited®: Review
Is the Ink Business Unlimited® Credit Card worth it?
The Ink Business Unlimited® Credit Card could be worth it if you’re looking for an all-around cash-back credit card but don’t want to pay any annual fees. The straight 1.5% cash back makes it easy to earn rewards with this business credit card without worrying about complex redemption categories.
Ink Business Unlimited® Credit Card: Highlights
- No annual fee
- Earn unlimited 1.5% cash back on every purchase made for your business
- Earn $900 bonus cash back after you spend $6,000 on purchases in the first three months after opening your account
- Rewards can be redeemed for cash back, gift cards, travel and more through Chase Ultimate Rewards®
- Employee cards at no additional cost
- 0% introductory APR for 12 months on purchases
- 3% foreign transaction fee
Pros and cons
Who is Ink Business Unlimited® Credit Card best for?
The Ink Business Unlimited® Credit Card is best for small business owners looking for a flexible and easy-to-use cash-back credit card and don’t want to worry about the cost of an annual fee. Ideally, cardholders would avoid using this credit card for international travel due to the high foreign transaction fees and instead opt for a business travel card.
Ink Business Unlimited® Credit Card: Rewards
Earning rewards
With the Ink Business Unlimited card, earning rewards is uncomplicated— a flat rate of 1.5% cash back on every business purchase.
Redeeming rewards
You can redeem Chase Ink Business Unlimited cash back in various ways, including:
-
Statement credits. Choose to get your cash back credited to your statement, reducing how much you owe on your balance. Read the fine print, though — cash-back statement credits don’t always count toward your minimum monthly payment requirement.
-
Direct deposits. Your cash-back rewards can be paid out as a direct deposit to your bank account. This might be especially helpful if you earn the welcome bonus, as you could use that $900 to cover business expenses.
-
Shop Through Chase with points. Instead of converting your points to cash back, you can use them to make purchases or cover part of your purchases through the Shop Through Chase online shopping portal. You might buy something for yourself, your employees or your business.
-
Book Through Chase. You can also use your cash-back points with this card to cover some or all of the cost of hotel stays, rental cars or flights through Chase Travel℠.
-
Apple® Ultimate Rewards Store. You can use your points to make Apple technology purchases through this program.
-
Gift cards. Redeem your points for gift cards. You can choose from more than 150 gift card options, making it easy to find gift cards you can use as employee rewards or for your own purchases.
▶︎ Read more: Guide to Chase Ultimate Rewards
Welcome bonus
The Ink Business Unlimited sign-up bonus lets you earn $900 cash back by spending $6,000 on purchases in the first three months. It’s fairly easy to earn that cash-back reward by using this card to cover regular business expenses such as supplies or utility payments.
Ink Business Unlimited benefits
Travel benefits
While this card doesn’t offer the luxury perks you might expect with a travel credit card that has a high annual fee, it does have some great common-sense advantages.
-
Auto Rental Collision Damage Waiver: if you pay for your entire car rental with this card, you can waive the rental company’s insurance because you’re automatically covered against collision damage and theft.
-
Travel and Emergency Assistance Services: You can call the Benefit Administrator to get referrals for health care or legal services when you’re traveling. You can also connect with roadside assistance when you’re stranded on the side of the road. Roadside assistance may come with fees, which are disclosed before you agree to the service and are charged to your card.
Business benefits
-
Free employee cards: The Chase Business Unlimited card is designed to be a business tool, so it’s no surprise that you can add employee cards at no additional cost. Those cards can help you streamline employee expense processes.
-
Business spending insights: You can access information about your account via the online portal, including tracking expenses based on each employee’s card. Set up alerts to be notified of purchases or remind you to review statements or pay your bill.
-
Purchase protection: If you pay for items with this card, you can get purchase protection for 120 days. This coverage helps you recover losses if your items are damaged or stolen. The coverage limits are generous—$10,000 per claim up to a total of $50,000 per account.
-
Extended warranty: You can also get some added peace of mind with the extended warranty this card affords. If you use the card to make a purchase and that item has a manufacturer’s warranty of three years or less, you can automatically add another year of warranty coverage.
Ink Business Unlimited: The fine print
Fees
-
Annual fee: $0
-
Late payment fee: $40
-
Return payment fee: $40
-
Balance transfer fee: 5% of the transfer or $5, whichever is more
-
Cash advance fee: 5% of the transaction or $15, whichever is more
-
Foreign transaction fees: 3% of the transaction
Interest rates
-
Introductory APR on purchases: 0% for 12 months
-
Introductory APR on balance transfers: N/A
-
Regular purchase APR: 18.49% to 24.49% variable, depending on creditworthiness
-
Cash advance APR: 29.99% variable
Credit limit
Your credit limit will depend on your personal and business credit score, revenue and other financial factors. Reports from cardholders indicate that, at minimum, cardholders are typically approved for $3,000. On the high end, some account holders have $25,000 in credit limit.
Ink Business Unlimited: Drawbacks
Lower cash-back rate and no bonus categories
Although the 1.5% cash-back rate means you don’t have to remember the specific rates for each category, this isn’t the highest rate we’ve seen with some of the best credit cards. There are also no bonus categories to earn higher cash-back rewards in areas where you may spend more, such as advertising. You may miss out on higher rewards available with other cash-back business credit cards.
No intro APR for balance transfers
Although the Ink Business Unlimited offers an intro APR on purchases for 12 months, it doesn’t offer an intro APR for balance transfers. If you need to pay off any debts you have with other cards, you may be better opting for a balance transfer card.
High foreign transaction fees
Although this card provides some travel benefits, its 3% foreign transaction fees, make it a poor choice if you regularly travel internationally for business or make international business purchases, as the fees could easily stack up. Instead, a no-foreign transaction fee card would be a better choice.
How the Ink Business Unlimited card compares
Comparing the Ink Business Unlimited to some similar cards on the market can help you decide which one is best for your business.
Ink Business Unlimited® Credit Card vs. Ink Business Cash® Credit Card
You can earn up to $750 in bonus cash with the Ink Business Cash® Credit Card, but it’s broken into two rewards — $350 when you spend $3,000 in the first three months and $400 when you spend $6,000 in the first six months.
However, the Business Cash card offers better cash-back benefits if you spend a lot on certain categories:
- 5% cash back on up to $25,000 spent annually on internet, phone, cable and office supply store expenses.
- 2% cash back on up to $25,000 spent annually at restaurants and gas stations.
- 1% cash back on everything else.
Ink Business Unlimited® Credit Card vs. Capital One Venture X Business Card
The Capital One Venture X Business comes with a $395 annual fee. If you choose this card over the Ink card, you should be sure you can maximize rewards value to cover that cost. The good news is that you get a $300 annual travel credit as a Venture X cardholder, so if you can use that credit, you’re most of the way there.
You can also earn 150,000 bonus miles when you spend $30,000 in the first three months. That’s a value of $1,500 when you redeem miles for travel. You can earn 5x miles on flights and vacation rentals, 10x miles on hotel and rental car purchases (all through Capital One Travel) and 2x miles on everything else.
If you travel frequently and your business has a large spending budget, the Capital One Venture X card might be a better option than the Ink card.
Should you get the Ink Business Unlimited?
The Ink Business Unlimited card may be a good choice if you want a general cash back, no annual fee business credit card. With its simplified rewards, you don’t have to worry about keeping on top of spending categories, making it a convenient business financial tool to have in your wallet.
