Chase Ink Business Unlimited 2024 Review | The Motley Fool (2024)

Top perks

The Ink Business Unlimited® Credit Card has several quality perks that can help you save money.

Earn $900 bonus cash back

Earn $900 bonus cash back after using your card to spend at least $6,000 within 3 months of account opening. That's one of the more valuable sign-up bonuses we've come across.

Unlimited cash back back

This card earns cash back on purchases. That rewards rate is competitive with what other business cards and cash back cards offer.

COMPARE TOP PICKS: Best Business Credit Cards

No annual fee

You won't be adding to your business expenses with the Ink Business Unlimited® Credit Card, because it doesn't charge an annual fee. Getting a no annual fee card is an excellent choice if your business isn't spending that much yet, since you may not get your money's worth from an annual fee card.

Free employee cards

You can get employee cards at no additional cost and earn cash back on the purchases they make. To get a card for an employee, add them as an authorized user on your account. You can also set individual spending limits on employee cards. Remember that you're responsible for any charges your employees make on their cards.

READ MORE: How to Add an Authorized User With Chase

0% intro APR for 12 months

This Chase business card has a 0% intro APR on purchases for the first 12 months. Whether you plan to buy new equipment, expand your business, or have other major expenses you can't pay in full, you can use a 0% intro APR card to pay it off over time. Once that intro period ends, the go-to 18.49% - 24.49% Variable APR applies going forward. Aim to pay off everything within those 12 months so you can avoid interest charges entirely.

Convenient redemption process

With this card, you can redeem as little as $0.01 in cash back. And you can redeem your cash back as a statement credit toward your credit card bill or have the cash back directly deposited into your bank account. This may not seem like a big deal, but some credit cards make it more difficult to get your cash back with stricter rules or redemption minimums (I've seen minimums as high as $25!). With Chase credit cards, the process is simple and customer friendly.

READ MORE: Best Cash Back Business Credit Cards

Consumer and travel protections

The Ink Business Unlimited® Credit Card has a few useful complimentary protections. For car rentals, it offers auto rental collision damage waiver covering theft or collision damage for most cars in the United States and abroad. For eligible purchases, it offers:

• Purchase protection
• Extended warranty coverage

I have the Ink Business Unlimited® Credit Card and the two other Chase Ink cards. I've been very happy with my Chase business cards (which you might've guessed, since I have three of them). The Ink Business Unlimited® Credit Card , in particular, is one of my favorite all-purpose business cards. It's an excellent choice whether you're looking for one card to use for all your spending or one you use along with other cards that have bonus categories. Chase also has useful expense tracking tools for business owners, so you can quickly check how much you're spending in different categories.

Read more: Best Chase Business Credit Cards

Here's a look at what other review sites and credit card enthusiasts on social media have said about this Chase card.

What our competitors think

Average competitor rating: 4.4 / 5 stars

The Ink Business Unlimited® Credit Card gets high marks from professional reviewers. There's quite a bit of praise for its cash back rate, welcome offer, and how easy it is to use, since it earns the same rate no matter where you use it.

The most common criticism for this Chase card is that it doesn't have any bonus categories. Several reviewers mentioned that cards with bonus categories could be a better fit for some business owners. Reviewers also pointed out that this card has a foreign transaction fee, so it's not good for international travel, and that the 0% intro APR only applies to purchases, not balance transfers.

Social media consensus

This isn't the most frequently discussed credit card on social media. It seems to get overshadowed by its sibling, the Ink Business Cash® Credit Card. That card is more popular because it has bonus categories where you can earn 5% back.

Does that mean it's the better card? Not necessarily. Cards with bonus categories can work well for some, especially those who don't mind carrying multiple cards and remembering which to use at each place they shop. Many of the people who discuss credit cards on social media are more than willing to follow these kinds of advanced strategies.

The Ink Business Unlimited® Credit Card isn't as exciting, but it's still a good value for a business card. We also didn't find any notable criticisms of it on social media. Everyone who discussed it acknowledged that it has a lot of value and that the welcome offer is excellent.

What could be improved

There are a couple of small drawbacks to this business credit card.

No balance transfer offer

While this card has a 0% Intro APR on Purchases , it doesn't offer a 0% introductory rate on balance transfers. If you want a business card you can use to refinance existing credit card debt, you'll need to check out other credit card reviews.

Foreign transaction fee

You'll pay an extra 3% of each transaction in U.S. dollars on foreign transactions. Business owners who travel internationally should pick cards without foreign transaction fees, such as travel rewards cards, to keep costs down. Otherwise, these fees can get expensive.

RELATED: Best Travel Rewards Business Credit Cards

A FICO® Score of at least 670 is recommended when applying for the Ink Business Unlimited® Credit Card. This card is intended for business owners with credit scores in the good credit range.

If you're wondering whether you're eligible for a business credit card, any type of business qualifies. That includes sole proprietorships and side hustles. Even if your business isn't bringing in revenue yet, you could still be approved based on your personal income.

Make sure you pass Chase's 5/24 rule if you're going to apply for this credit card. This is a restriction Chase has where it almost always denies an application if the consumer has already opened five or more credit cards in the previous 24 months.

LEARN MORE: A Guide to Chase's 5/24 Rule

This Ink Business Unlimited® Credit Card is a versatile option that can fit well in just about any business owner's wallet. But it's an especially good choice if any of the following apply to you.

You want to keep your business finances simple and easy

When your business is your priority, you probably don't want to spend too much time on other tasks. You may not be interested in keeping track of a bunch of bonus categories or other perks. One of the best parts about this Chase card is that it's uncomplicated. It earns a competitive rate on your business purchases, no matter the spending category, and redeeming your cash back is a breeze.

You're open to carrying multiple business cards as part of a more advanced rewards strategy

As I mentioned earlier, this card is versatile. It's excellent for a one-card wallet if you're keeping it simple. It can also work equally well if you want to maximize rewards by carrying multiple credit cards.

If so, you could combine it with business cards that have bonus categories and pay with them whenever you're spending in those areas. For all the rest of your spending, you could pay with your Ink Business Unlimited® Credit Card to earn Ink Business Unlimited® Credit Card instead of 1% back.

Your business spending isn't weighted toward any particular areas

Credit cards with bonus categories are valuable if you spend a lot in those areas. If your business spends thousands on social media ads every month, then it makes sense to get a card with bonus rewards on online ads. On the other hand, if your business spends money in a variety of areas, then you may just want to go with this Chase card and earn a competitive rate everywhere.

Chase Ink Business Unlimited credit score

A FICO® Score of 670 or higher is recommended to apply for the Chase Ink Business Unlimited Credit Card. Chase checks your personal credit when you apply, and approved applicants typically have good or excellent credit.

Pre-approval process

You can sometimes see if you're pre-approved for a Chase card online. Chase has a pre-approval tool on its website, but it's not always available to use. When it is, you can check your Chase card pre-approvals by providing basic information, without any impact on your credit score.

Intro APR

The Ink Business Unlimited® Credit Card has a 0% Intro APR on Purchases for 12 months. This is helpful for paying down large business expenses -- just do your best to pay off your balance during the intro period to avoid interest entirely.

Fees

Here are the fees for the Ink Business Unlimited® Credit Card:

• Annual fee: $0
• Balance transfer fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
• Cash advance fee: Either $15 or 5% of the amount of each transaction, whichever is greater.
• Foreign transaction fee: 3% of each transaction in U.S. dollars

Credit limit

The Ink Business Unlimited® Credit Card has a minimum starting credit limit of $3,000, according to the pricing and terms. Chase sets a credit limit based on multiple factors, most importantly your income and credit history. Some cardholders get approved for much higher limits, but Chase also mentions in the terms that it could require additional verification for limits above $25,000.

The most natural pairing is another one of the Chase Ink cards -- or both! Carrying three Chase credit cards is so popular that there's even an informal name for it: The Chase Trifecta. Here's a quick rundown of why the other two Chase Ink cards are great partners for this one:

• The Ink Business Cash® Credit Card has bonus categories where it earns 2% to 5% back. These categories include office supply stores, internet, cable, and phone services, gas stations, and restaurants, up to annual bonus spending caps.
• The Ink Business Preferred® Credit Card earns 3X points on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year.

If you like to travel, there's another way it pays off to have the Ink Business Preferred® Credit Card. You can combine all your rewards onto that card (each $1 of cash back is worth 100 points). Those points have 25% more value toward Chase Travel bookings, or you can transfer them to Chase's airline and hotel partners.

Pro tip: Having trouble getting approved for a Chase Trifecta? Call and ask if you can adjust your credit limits with Chase. If Chase doesn't want to approve you for more credit, you might be able to lower the limits on your current Chase cards. The credit you give up can then be put toward the new Chase card you want.

If you're looking for a business card that earns unlimited cash back, there's also the Capital One Spark Cash Plus. It has some advantages and disadvantages compared to this Chase card. To decide which one's right for you, check out how they compare in a few key areas.

Annual fee: Ink Business Unlimited® Credit Card

The Ink Business Unlimited® Credit Card wins this one for having no annual fee. The Capital One Spark Cash Plus has a $150 annual fee, which gets you a higher cash back rate. That annual fee is refunded every year that you spend at least $150,000 on the card, so it could make sense for big spenders.

Welcome offer: Tie

These cards have two valuable, but very different welcome offers:

• The Ink Business Unlimited® Credit Card earns Earn $900 bonus cash back in bonus cash back after you spend $6,000 on purchases in the first 3 months.
• The Capital One Spark Cash Plus earns a one-time $2,000 cash bonus after you spend $30,000 on purchases in the first 3 months.

You could earn more if you go with Capital One. However, you also need to spend five times as much. The Chase Ink card's welcome offer is much more accessible and will likely be a better choice for more people. But if your business spends at least $10,000 a month, you may want the Capital One card, since it earns more overall.

Cash back rates: Capital One Spark Cash Plus

True to its name, the Capital One Spark Cash Plus earns an unlimited 2% back on purchases. That's slightly more than you earn with the Ink Business Unlimited® Credit Card . Deciding between these cards could come down to whether you'll get more value from a higher cash back rate or no annual fee.

0% intro APR: Ink Business Unlimited® Credit Card

WIth the Ink Business Unlimited® Credit Card , you get a 0% intro purchase APR for 12 months, which is helpful for paying off big expenses. You don't get anything like that with the Capital One Spark Cash Plus. It's a charge card, and you must pay off your balance in full every month.

You're looking for a great all-around business credit card with a solid cash back rate and 0% Intro APR on Purchases. Here are a few situations where the Ink Business Unlimited® Credit Card works well:

• You want to save money by earning cash back on your business expenses.
• You have business expenses you want to finance without paying interest charges.
• You're looking for a no annual fee business credit card.

Our credit card methodology

At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.