Editor’s Note: American Express is a partner of Fundera.
If you’re a small business owner just starting your search for the best business credit card on the market, you’ll quickly realize: there are a lot of business credit cards available.
So many, in fact, that you might be getting overwhelmed by all your options.
But that’s where we come in. We’re here to help you take all the business credit cards on the market, and narrow that down to just a small pool of options.
Today, we’ve narrowed that down to just Chase business credit cards. Is there a Chase business credit card that’s absolutely perfect for your small business?
Let’s find out.
So, you’re looking for a Chase business credit card.
Well, as it turns out, you only have two options to consider: The Chase Ink Cash and the Chase Ink Plus.
The Ink Cash is the Chase business credit card for you if you want to earn cash back on your purchases.
And for the right kind of spender, this Chase business credit card could have the best cash back rewards program on the market. Here’s what you’ll get:
That’s what you’ll get as a regular card member of the Chase Ink Cash. But as an incentive to sign up for this Chase business credit card, Chase offers a pretty sizable welcome bonus.
When you sign up for this business credit card, you’ll earn $300 bonus cash back—once you’ve spent $3,000 on purchases in the first 3 months after opening the account.
The cash back rewards system and the sign-up bonus are just the barebones basics of the Ink Cash business credit card. But what are the reasons you should really consider using this Chase business credit card over the many other cards?
The Chase Ink Cash business credit card has a solid cash back rewards system—especially considering that there’s no annual fee on the card. That means you’ll be bringing in cash savings every time you swipe this card, without having to worry about giving those cash back rewards away each year in an annual fee.
Also, new Ink Cash cardholders can take advantage of a 0% introductory APR for 12 months—which, in a lot of ways, is like being loaned money for your business for free. You won’t have to pay interest on what you borrow for a whole year, as long as you’re paying at least the minimum payment due.
And finally, this Chase business credit card could be the perfect fit for smaller businesses who never spend more than $25,000 a year. That’s because you can only earn cash back up to $25,000 in purchases. So, for business owners who mostly spend their money on the 5x category—but only up to $25,000—the Chase Ink Cash could be the right match.
On the other hand, if you’re a small business owner who consistently spends more than $25,000 on your business each year, then this Chase business credit card won’t help you maximize your cash back earnings.
If you’re a bigger spender than the Chase Ink Cash allows, then you might want to check out the SimplyCash Plus Business Credit Card from American Express. This business credit card offers a similar cash back rewards rate in similar rewards categories—but it doesn’t set a limit on how much you can earn cash back on.
And finally, if you frequently travel overseas and spend for your business, you might want to sign up for a different business credit card—this Chase business credit card comes with a 3% foreign transaction fee.
Unlike the Chase Ink Cash, the Ink Plus business credit card offers premium rewards and benefits through bonus points earnings.
You’ll bring in Chase rewards points each time you swipe your Ink Plus, and you can redeem those points online or on the phone for cash back, travel, gift cards, and so on.
And when it comes to what you can earn on your Ink Plus, it’s not all that different than the rewards rate on the Ink Cash—but instead of cash back, think bonus points.
Here’s what to expect with this Chase business credit card:
On top of your regular bonus points rewards rate, you’ll also get a pretty hefty welcome bonus with this Chase business credit card.
When you sign up, you’ll earn 60,000 bonus points when you spend $5,000 in purchases in the first 3 months. According to Chase, 60,000 points are worth $750 when you redeem them for travel through Chase Ultimate Rewards.
With the spending cap set at $50,000 instead of the Ink Cash’s $25,000, the Ink Plus might be the better Chase business credit card for more established small business owners who spend much more on their business.
Also, this Chase business credit card is better suited for a frequent traveller. Unlike the Ink Cash, you won’t have any foreign transaction fee when you travel overseas and spend. On top of that, you’ll have access to 2 complimentary Lounge Club passes per year as a Ink Plus card member. And finally, the bonus points you earn with the Ink Plus are more valuable when you redeem them for travel.
The Ink Plus is geared toward a frequent business travelers. But if you’re taking out this Chase business credit card to get the most travel rewards and perks, you should consider the Business Platinum Card from American Express instead. When it comes to travel benefits and perks, the Business Platinum really packs a punch. Also, the Business Platinum Card currently has one of the best welcome offers on the market—one that puts the sign-up bonus on the Ink Plus to shame.
The first reason why you might not want to sign up for the Ink Plus card is the card’s annual fee of $95.
That’s right, you will have to dish out an annual fee of $95 each year. But that shouldn’t necessarily turn you away from this Chase business credit card—you’ll easily make up the annual fee each year if you plan on maximize your spending in each reward category.
Another reason why you might hesitate on the Ink Plus is the lack of 0% introductory APR. You’ll have to pay interest on your balance the first month you take out an Ink Plus. That APR will either be 15.49%, 17.49%, or 19.49% depending on what you qualify for. And as far as credit card APRs go, the “low” APR of 15.49% isn’t the lowest you can get on the market.
When it comes down to it, both Chase business credit cards are solid offers for the right kind of small business owner.
The Ink Cash is a particularly good fit for newer small business owners who need straightforward—but substantial—rewards earnings. On the other hand, the Ink Plus is a better fit for more established small business owners who are always on the go for their business.
As always, you should look closely at your needs and consider all your options to find the best business credit card for you. In the end, that might be one of the Chase business credit cards—but you won’t know until you compare them all!