Chase has finally released the rumored Chase Ink Business Unlimited credit card. This no annual fee cards comes with a good signup bonus and the ability to earn unlimited 1.5X cashback on every purchase. That could be an a great earning rate, especially since cash back can be converted to Ultimate Rewards. The card was released on May 21, 2018.
Signup Bonus
- Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months after account opening.
- 0% intro APR for 12 months from account opening on purchases and balance transfers. After that, 14.74%–20.74% variable APR.
Related: Plastiq Promo for New Users, 2% Fee For Rent Payments with Credit Card
Earning and Redeeming Points
The card earn at the following rates:
- 1.5% Cash Back rewards on every purchase made for your business. No limit to the points you can earn and your points don’t expire.
While this card is advertised as a cashback business card, the real value is when cashback is converted to Ultimate Rewards points. So you can look at the cash back earned as 1 cent equal to 1 Ultimate Rewards points. If you have a premium card like the Ink Business Preferred, Sapphire Preferred, Sapphire Reserve you can pool your points (if that lasts) from several cards. That makes the cashback earned much more valuable since Ultimate Rewards are valued 1.5-1.5 cents each thanks to the ability to transfer points to travel partners. If you have the Chase Sapphire Reserve card you can just get a value of 1.5 cents by booking directly with Ultimate Rewards points.
You can redeem for cashback and gift cards as well, but if travel is your goal, then you can definitely get better value.
Other Benefits
- Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Extended Warranty Protection
- Auto Rental Collision Damage Waiver
Annual Fee
No annual fee.
Applying for the Card
The card falls under the Chase 5/24 rule, so many readers will not be able to get the card. Maybe a business relationship manager can help in that regard. But beware of Chase shutdowns if you already have too many cards or a high credit limit.
Guru’s Wrap-Up
This is a good card for everyday business purchases. You get a solid signup bonus of $500 or 50,000 Ultimate Rewards, which is actually worth $750 or more in travel. Then you earn 1.5X on all your purchases, with no cap. Chase Ink Cash is also an option as far no-fee business cards go. That card has the same bonus and earn 1X everywhere and 5X on some categories. It’s pretty much the same offering as the personal Freedom and Freedom Unlimited cards.
