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Chase adds biz card: What’s new?

By Janna Herron · Bankrate.com
Tuesday, July 31, 2012
Posted: 4 pm ET

Chase is boosting its offerings of small business credit cards by adding another one to its suite. And it looks oddly similar to a charge card with a similar name.

The credit card issuer on Tuesday unveiled its Ink Plus Business Card, which joins the Ink Classic credit card, the Ink Cash credit card and the Ink Bold charge card, all for small businesses.

Ink Plus cardholders can earn five rewards points per $1 (up to $50,000) on purchases at office supply stores and spending on cellphone, landline, Internet and cable TV services. Cardholders get two points per $1 (again, up to $50,000) when they use their card at gas stations and hotels. For every other purchase, cardholders are awarded on a one-for-one basis, with no limit.

The rewards tier is the same as the Ink Bold charge card. The other two Chase Ink cards offer the same earning power, but cap the first two categories at $25,000.

The new card also rewards cardholders with 25,000 extra points after the first purchase, plus another 25,000 after spending $10,000 in the first three months. (That translates to $625 in travel or $500 toward your choice of rewards.) The Ink Bold charge card gives away the same bonus.

(The other two offer smaller sign-on bonuses.)

The new Ink Plus card also comes with benefits for business travelers including: no foreign transaction fees; 20 percent discount on airfare, hotels, car rentals and cruises through the issuer's rewards portal; airport lounge access; no blackout dates; and a one-to-one point transfer to airline and hotel loyalty programs. Again, the Ink Bold offers the same perks.

Chase will waive the $95 annual fee for the first year. For comparison's sake, the Ink Bold charge card comes with the same annual fee and the same waiver, while the Ink Cash and Ink Classic don't have annual fees.

Of course, the big benefit of the new Ink Plus credit card is that it allows business owners to roll over expenses from one month to the next if business is bad. Ink Bold charge cardholders are required to pay off the balance every month.

That flexibility isn't free, though. Ink Plus cards come with a 13.24 percent annual percentage rate. That's the same as the Ink Cash and Ink Classic, but both of those cards offer a six-month introductory rate of zero percent.

Do the math (monthly expenses versus cash flow on historic basis) and that will help you figure out which business card is right for you.

Do you have a business credit card? How did you choose one?

Follow me on Twitter: @JannaHerron

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