Ink Classic Business card from Chase can be a good choice to small businesses who seek business credit card offering no annual fee and simple rewards. Those on the lookout for special rewards benefiting business owners might find this business card fulfilling their purpose with its rewards programs.
Features of Ink Classic Business Card
- The purchasing power of MasterCard and Visa are combined into one card by the Chase Ink cards.
- 25,000 bonus points are obtainable out of which 10,000 points can be obtained after the first purchase and an added 15,000 points after the cardholder spends $5,000 in the first three months. That is $250 toward travel or other rewards.
- Cardholders earn 5X points per dollar on the first $25,000 annually spent on landline, cellular phone, internet and cable TV services and at gas stations. They can also earn 2X points on the first $25,000 annually spent for hotel accommodations (if purchased directly with the hotel) and at gas stations. They earn a single point in Ultimate Rewards Program of Chase for each dollar spent. If airfare is booked through travel agency of Chase, they also grant double miles.
- The accumulated reward points can be redeemed by businesses for merchandise, cash back, travel expenses or gift cards. These reward points equate to 1 cent each and in order to receive $20 cash back, a minimum of 2,000 points should be redeemed. The points earned do not expire and there is no limitation to the number of points earnable.
- Upon opening an account, for the first 6 months, cardholders receive a 0% interest rate on balance transfers and purchases.
- Ink Classic Business card has no annual fee. Additional cards for employees of a business can be obtained for free.
- A 3% foreign transaction fee is charged for purchases processed outside the US.
- The Ink Classic Business card does not charge an annual fee.
- Though the rewards program is quite complex, the complexity is reduced due to its offering of one point for every dollar spent and two points on purchases towards airfare.
- The cardholders are paid for using the card with the sign-up bonus of $250.
- Due to its offering of free employee cards, rewards can be earned faster with these employee cards.
- With the reward points earned, the cardholders can place their bid on items posted on Ultimate Auctions website of Chase, which is exclusive to its cardholders.
- Bonus reward points can be earned to make purchases from retailers such as Lands’ End, Buy.com, and Pottery Barn etc. when cardholders use the shopping portal of Chase to shop online.
- Cardholders are offered Travel Protection Services including baggage delay refund, car rental collision damage waiver and roadside dispatch coverage.
- Exclusive event access can be made possible by redeeming the reward points. These points also offer VIP seating for concerts, sporting events, fine dining etc.
- The rewards are not outstanding. While most credit cards with cash back rewards offer nearly 2% cash back, the Ink Classic Business card offers 1% cash back.
- It is required to have the tickets booked with Ultimate Rewards website of Chase, in order to earn double rewards on airfare. This can in turn create hurdles when there would arise a necessity to change a ticket. For purchases booked or charged towards airfare through the toll-free number of the agency, up to $20 service fee will be charged by the travel agency.
- The foreign transaction fee of 3% charged on all purchases processed outside the United States is much higher based on the industry standards. This might be an unfavorable factor to those who travel outside the United States and need to make purchases with the card.
- While most cash back cards offer a statement credit each month automatically, to obtain the rewards with the Chase Ink Classic Business card, the cardholder needs to log into the website of Chase, specify the redemption amount and wait for their account to be deposited with the funds or to receive a check by mail. Purchases can also be made at the Chase website with the points earned.
The Ink Classic Business card can turn out to be a good choice of a business card for business owners to begin earning points. This card can be used to cover the business expenditures by the business owner and his employees to harness the credit card’s purchasing power with its modest rewards and lower fees. There is no urge to reach a specific amount of annual spending in order to cover the annual fee expense, as there is no annual fee charged. Rewards can be easily earned due to the sign-up bonus offer and extra point categories. The employer can set spending limit desired by him on each individual, on the cards issued to his employees. Alerts can be set and reports can be checked online, making it easier to track the spending.
Originally posted 2012-11-30 06:00:13. Republished by Blog Post Promoter