It’s easy to get confused when so many credit card companies issue credit card “families”. How do you know a gold card from a platinum card when it’s issued by the same credit card network?
JPMorgan Chase has several similar-sounding credit card offers for small businesses; namely, the Chase Ink offers. Each holds its own, but while there are many similarities – some of which we outline below – there are significant differences, too. This is where business owners often find the right choice – in those differences.
One small business owner might need rewards points that can be redeemed for airlines, hotels and car rentals while others are more apt to put cash back rewards to use to offset expenses like new computers, office supplies or even petty cash. Whatever your needs are as a small business owner, there’s a JPMorgan Chase business credit card to meet them.
If you’re considering a Chase Ink credit card for your small business, we’ve broke them down so that you can easily compare these financial products. As we mentioned, there are plenty of differences, but there are also several benefits that are applicable across the board, including:
- Complimentary additional cards
- Zero fraud liability
- At least a 1% cash back per dollar spent on purchases
- Cash back bonuses (though the point structures vary from one card to another)
- Points for cash redemption options. converting your rewards into cash is available on all of the Chase Ink cards.
- No limitations on cash back or rewards points
This no annual fee business credit card offers an impressive $250 bonus cash back as a signing bonus. Plus, you’ll earn $150 after spending $5000 during the first ninety days. You’ll enjoy a 2% cash rebate on the first $25,000 spent annually on gas and dining expenses and then and 1% on any of your other purchases. We also like the 5% cash rebate on office supplies, cable services, and phone or cell services on the first $25,000 dollars spent annually. Good credit earns approval for this popular Chase card. As a side note – this is often the most applied for credit card in the Chase Ink product range.
Ink Classic Business
Many know this credit card by its former name, Ink with Ultimate Rewards. Among the many perks and benefits are a no annual fee structure, cash back bonuses when you are approved and 1 point for every dollar you spend. Plus you can earn double points on every dollar spent when you need hotel reservations and gas. For those expenses like office supplies and utilities, you’ll earn 5x the points. A nice 0% intro APR for both balance transfers and purchases rounds out this offer. It’s a versatile choice, which is cited as the number one need for small business owners.
Here’s another great offer that rewards you just by becoming a card holder. You’ll enjoy an immediate 50,000 rewards points and your first Ink Bold purchase gets you an additional 25,000 points. Like its sister cards, there are many opportunities to continue earning bonus rewards along the way, too. Keep in mind, this is the one business charge card in the Ink family. This means, of course, the balance must be paid in full each month. Request additional employee cards for free. Because this is a charge card, it means the bank isn’t earning anything via interest charges, therefore there’s an annual fee of $95, though it’s waived the first years.
Become a Chase credit card consumer and 25,000 bonus points with your first purchase. An additional 25,000 bonus points are earned you spend $10,000 within the first 3 months. That could mean an impressive 50,000 bonus points in your first ninety days! Earn 5 points per dollar, up to $50,000 annually, when you buy office supplies or pay for some utilities. Not only that, but you’ll earn 2 points for every dollar spent on the first $50,000 at hotels and gas stations. Like the Ink Bold, Ink Plus users enjoy a waiver for their first year’s annual fee of $95.
As you can see, many of these Chase credit cards have similar perks and benefits. The differences are where you’ll find the right card for your needs, whether it’s the absence of an annual fee or the need for a charge card, Chase has the credit cards that deliver.
Other Chase News
JPMorgan Chase is a global bank and one of the “big 5” banking dynamics in the U.S. Led by CEO Jamie Dimon, it’s one of the few banks that weathered the recession with few hiccups. It also recently underwent several changes, including a new website design and new guidelines for consumers wishing to better understand the many financial products. According to the bank, it’s either improved or now offers:
- A concise description of our fees, including examples of what can cause them—all written in everyday language.
- A worksheet you can use to estimate the monthly fees that might apply to your individual situation.
- Helpful information on how your account works—including things you may not know can cause fees. For example, some people believe that you can put a future date on a check and it won’t be cashed before then—but that’s not true.
Finally, we wanted to mention the latest going on at JPMorgan Chase. Many may be aware of the philanthropic efforts of the banking giant. The JPMorgan Chase Foundation has focused on at risk neighborhoods around the nation by turning its attention and investment toward those “most challenged”. It will continue to work to eradicate “unacceptably high rates of poverty and historic disinvestment”. It continues to work with some of the most respected charities and non profit organizations to make a real difference in the lives of those who are disadvantaged. Its funding continues to set records and each year, the bank expands its efforts.
Are you a Chase customer? If so, do you use one of their many financial products or are you a loyal Chase member who incorporates all of those products? Share your story – and your experience – with us.