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The Chase Ink Plus® Business Card features a somewhat complicated rewards program that business owners love. The bonus points are focused on office supplies, telecommunications, travel, and more, giving users a chance to get something out of every purchase they make. If you are a business owner looking to boost your gains for next year, this card could help you do just that.
The question now is whether or not the complexity of the rewards program is worth the bonuses you can get from it in the end. We did some investigating to help you figure that out. This Chase Ink Plus Business review will show the pros and cons of the card so you can determine if it's right for your expenses.
Chase Ink Plus Business Card Features
Here are some of the features at a glance:
- 15.24% variable APR on purchases
- $0 annual fee for one year; $95 annual fee after intro
- No foreign transaction fees
- Free employee credit cards
- Bonus of 50,000 bonus points after spending $5,000 in the first 3 months of card membership
- 5 bonus points for every $1 spent at office supply stores, landline phones, cell phones, internet, and cable – limited to $50,000 in spending
- 2 bonus points for every $1 spent on gas stations and for hotel accommodations– limited to $50,000 in spending
- 1:1 points transfer to participating travel programs
The Good Side of Ink Plus Business
On the bright side, the Ink Plus Business Card from Chase does seem to be designed with businesses in mind. Rather than offering bonus points for groceries and household goods, it rewards users for spending money on travel and internet access. Even if all you do is put your $300 cable/phone/internet bill on your card every month, you could rack up 18,000 points by the end of the year-that's nothing to complain about!
For businesses that do a lot of work overseas, this card offers no foreign transaction fees. That means you can make purchases out of the country without paying an extra fee every time you swipe. Standard fees are 2%-3%, which can add up over time. Combine that with the 1:1 point transfer to popular travel programs and you have a great way for international businesses to get the most out of their expenditures.
Chase boasts a highly flexible payment plan for this card and others in the Ink line, so you should be able to cover your balance on your own time. You can get as many employee cards as you need without having to pay an extra fee. What you do with them after that is completely up to you.
The Not-So-Good Side of Ink Plus Business
Of course, this Chase Ink Plus Business Card review can't be filled with rainbows and unicorns. We have to look at the other side of the story. When we started to break down the rewards programs associated with the card, we found that it was riddled with stipulations that are easy to overlook. For instance, there is a $50,000 spending limit for the 5 and 2 point bonus offers. That means that after you spend $50,000 on office supplies and phone service, any money you put on the card for those purchases only provides 1 bonus point. This may not be a big deal for companies that carry minimal overhead a month, but for large corporations, it can lead to a large missed opportunity.
Beyond the spending limit issue, you might have to work around specifications within each reward offer. You can't earn the 2 points per $1 for hotel fees if you don't pay the hotels directly. This usually happens if you book through a third party website, like Travelocity or Priceline. In order to cash in on 50,000 bonus points, your account balance must be paid in full at the time of review. All of this is outlined in the fine print of the user agreement, but you need to understand it before getting your hopes up.
So, what's the bottom line? Is the Chase Ink Plus® Business Card worth looking into? If your business expenses are well-covered in this rewards program, then by all means, apply for the card. If you work from home and have very little to do with those costs, perhaps you'd be better off with a different business credit card. Review the tiny details in the terms of service and figure out what you could truly get from this card. If everything works out well, you'll be building up rewards in no time.
*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.
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