Is the Ink Business Unlimited worth it?
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The Ink Business Unlimited® Credit Card is a solid choice for a business credit card. With an unlimited 1.5 percent cash back rewards rate, this card is particularly well-suited for business owners who prefer higher-than-average flat-rate rewards over rewards for specific spending categories.
As a business card with no annual fee, the Ink Business Unlimited offers a generous welcome bonus and a 0 percent intro APR on purchases for the first 12 months (14.74 percent to 20.74 percent variable thereafter). These and other benefits make this card worth considering, but is the Ink Business Unlimited worth choosing over other business card options?
Read on to find out whether the Ink Business Unlimited is the best option for your needs, including how it stacks up against other business credit cards.
Details of Ink Business Unlimited
- Rewards rate: 1.5 percent cash back on all purchases
- Welcome offer: $750 cash back when you spend $7,500 within three months of opening your account
- Annual fee: $0
- Purchase intro APR: 0 percent intro APR on purchases for 12 months
- Balance transfer intro APR: N/A
- Regular APR: 14.74 percent to 20.74 percent variable APR
On top of the 1.5 percent cash back rate on all spending, the Ink Business Unlimited comes with both a competitive welcome offer and no annual fee. You’ll receive a welcome bonus of $750 in cash back when you spend $7,500 within the first three months and can take advantage of a 0 percent intro APR on purchases for 12 months (14.74 percent to 20.74 percent variable thereafter).
Reasons why the Ink Business Unlimited is worth it
In order to decide whether the Ink Business Unlimited is a card worth signing up for, consider each of the card’s benefits and how they will apply to your business and spending needs. We’ve broken down each benefit for you to consider.
1.5 percent cash back on all purchases
The Ink Business Unlimited offers 1.5 percent cash back on all purchases. That number is on par with most flat-rate cash back offers, so if you’re looking for a card that will earn you rewards without choosing a specific bonus spending category, the Ink Business Unlimited may be worth it. Plus, there’s no limit on the amount of rewards you can earn.
Note that this card technically earns Chase Ultimate Rewards points, which can be redeemed for cash back at a 1:1 rate. This means if you spend $20,000 per year, you’ll earn 30,000 points—worth $300 in cash back.
No annual fee
Not having to pay an annual fee is a strong selling point for this card. Around half of the best business credit cards—according to Bankrate—charge an annual fee.
0% intro APR on purchases
The Ink Business offers an introductory 0 percent APR on purchases for 12 months (14.74 percent to 20.74 percent variable APR thereafter). This can be especially helpful if you’re just starting your business and plan on racking up a lot of upfront expenses.
The Ink Business Unlimited offers a solid bonus of $750 in cash back when you spend $7,500 within the first three months—one of the highest bonuses for no-annual-fee business cards. If you know you’ll spend at least $7,500 on your card within the first three months (or $2,500 per month), this bonus is certainly worth pursuing.
Reasons why the Ink Business Unlimited might not be worth it for you
While the Ink Business Unlimited offers great benefits, it may not be the best choice for every business owner. Before signing up, consider the following:
Spending minimum to qualify for welcome bonus
While the welcome bonus is indeed one of the highest out there for no-annual-fee business cards, it only applies if you’re sure you will spend $7,500 within three months.
If your spending falls short of this limit, consider a card with a smaller welcome bonus for a lower spending limit. For example, the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card offers a welcome bonus of $300 in statement credits after you spend $3,000 within the first 90 days of account opening.
On the other hand, if you plan to spend significantly more than $7,500 in three months (such as $50,000 in six months), you might do better with a more premium business card. For example, the Capital One Spark Cash Plus offers a welcome bonus of up to $1,000 ($500 once you spend $5,000 in the first 3 months, and $500 once you spend $50,000 in the first 6 months of account opening).
Inability to transfer balance for intro APR
The Ink Business Unlimited does not offer an introductory 0 percent APR on balance transfers. So, if consolidating high-interest debt is your main priority, consider a card that offers an introductory 0 percent APR on balance transfers (usually between 12 to 21 months).
Flat-rate cash back
While the Ink Business Unlimited’s flat rate of 1.5 percent cash back will work well for business owners who spend widely across categories, if you’re a frequent traveler (or if most of your business expenses go toward dining, office supplies or another defined category), you could earn higher rewards with a business card that offers rewards in specific spending categories.
For example, the Bank of America Business Advantage Customized Cash Rewards Mastercard offers 3 percent cash back in the category of your choice, as well as 2 percent back on dining purchases. There’s a spending cap of $50,000 in combined choice category/dining purchases each calendar year, after which you’ll earn 1 percent cash back.
Once again, you might also consider the Capital One Spark Cash Plus, which offers an unlimited 2 percent cash back rate (though, for a $150 annual fee). However, that extra .5 percent back is only worth it if you plan to spend over $30,000 per year. Otherwise, your rewards will get eaten up by the $150 annual fee.
Ultimately, the best option for you will depend on how much you plan to spend and whether you want to tailor your rewards to specific categories.
The bottom line
The Ink Business Unlimited is a no-annual-fee Chase business credit card with a high cash back rewards rate, generous welcome bonus and a zero-interest offer on purchases.
This card is a great option if you’re looking for a business card with no annual fee and aren’t interested in navigating specific spending categories. However, if your spending falls within a few specific categories, it’s worth considering a card with higher customizable cash back.
Read Bankrate’s list of the best business credit cards to compare the factors discussed above—as they relate to your business and spending style—before making a decision.