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Chase Bank has a variety of small business credit cards that can be an incredibly useful tool as a small business owner — no matter where you are in your business journey. Chase as a credit card issuer is known to offer strong card rewards programs and enticing welcome bonuses, as well as other perks like purchase protection. 

The best business credit cards free up the amount of cash you need on hand for necessary business spending, which means you can afford to take on bigger and better projects. In this credit card review, we’ll cover the details of each of the Chase Ink business credit cards, as well as Chase’s application requirements and how to qualify.

Chase Ink Business Credit Cards

Chase offers four different Ink business credit cards for small business owners to choose from to cover business expenses like:

• Business travel (flights, hotels, or car rentals)
• Gas station purchases
• Internet or phone services
• Advertising purchases, like social media, search engines, or print
• Business subscriptions
• Professional services
• Restocking inventory

The Ink card that works best for you depends on your business needs. Some of Chase’s four card options charge an annual fee while others don’t, but the annual fee might allow you to get better rewards. You have the option to get a card with a flat rewards rate on all purchases or one with a higher rewards rate on specific categories — and whichever rewards program works best for you is the card you should apply for. Even if your Chase card doesn’t charge an annual fee, you may be able to get a welcome bonus (cash back rewards or bonus points, depending on the card) after a specific number of months of account opening. You’ll pay a variable APR to use a Chase Ink credit card. 

We break down the details of each of the Ink business credit cards in the chart below.

There are various redemption options for the rewards you earn on a Chase Ink Business credit card. Depending on the card, you may be able to choose between a statement credit or gift card. Also, you can pay with points or get travel rewards. You can also transfer points from other Chase cards that use Chase Ultimate Rewards Points to combine them into a larger reward. Keep in mind that Chase credit cards offer higher rewards earnings if you redeem your points directly through the Chase program.

Chase also has additional perks for its Ink business credit cards. Its credit card offers travel benefits including:

• Collision protection on rental cars
• Roadside assistance
• Baggage delay insurance
• Trip interruption insurance
• Trip cancellation or delay reimbursement
• Travel accident insurance

You can also get purchase protection for 120 days on new purchases (a maximum of $500 for each claim and $50,000 for each account). Additionally, you may be able to get extended warranty protection for one extra year, which can help you worry less about making large purchases for your business. Plus, you may have access to Chase’s cell phone protection plan.

How to Get Approved for a Chase Ink Business Credit Card

Business credit card providers look at your personal credit score when determining whether or not you qualify for their credit cards. For the Ink business credit cards, you’ll need to apply with good to excellent personal credit. That means your credit score typically needs to be above 690. 

The interest rate you get on purchases and balance transfers depends on your personal credit score, as well. The higher your credit score, the more likely you are to get approved, as well as get the best interest rate available. 

Chase Ink Business Credit Card Requirements

To be eligible for a Chase business credit card, there are several basic requirements:

• Your personal credit must be above 690 (and higher may be necessary)
• You must be over 18 years old (and 19 years old if you’re applying in Alaska or Nebraska)
• You must sign a personal guarantee

It’s smart to use your business credit card only for business purchases. Although it’s not technically illegal to use a business credit card for personal expenses, it may violate the terms of your credit card agreement and cause issues down the road. 

To take full advantage of the rewards programs from bonus categories or everyday spending, make sure you understand what your specific credit card requires. You’ll likely need to spend a certain amount in the first few months after opening your account to get the bonus cash welcome offer, so it’s a good idea to pay attention to those requirements.

Chase Business Card Credit Score

You’ll need to have at least a good credit score to qualify for a Chase business credit card. A few credit card providers offer secured business credit cards that are more willing to accept applicants with less-than-stellar credit. But Chase doesn’t have a secured credit card option, so you’ll have to look elsewhere.

Using your Chase business credit card may also help you build your business credit scores. The credit card provider reports business credit card data to Dun & Bradstreet, Experian, Equifax, and the Small Business Financial Exchange. In other words, Chase will send your payment information to all the business credit bureaus mentioned above. Then these bureaus give you a credit score based largely on your on-time payment history.

What Is the Maximum Credit Limit of Chase Ink Business?

Chase will look at your credit report and your business details to decide your credit limit, or the amount you can borrow on the credit card. Your credit limit will start at $3,000 and can go up to $25,000. If you want a credit line above $25,000, you may be able to get it if you provide additional information. 

Ink Business Cash® Credit Card vs. Ink Business Unlimited® Credit Card

What’s different

The main difference between the two is how their cash back programs work. The Ink Business Cash® Credit Card lets cardholders earn more in select business categories. To get the maximum back on purchases, you’ll need to shop with certain business vendors — like office supply stores — or on certain communications bills. 

On the other hand, the Ink Business Unlimited® Credit Card allows you to earn cash back on every purchase, so there’s no need to keep track of your purchase categories. This system could appeal to businesses who don’t spend enough at office supply stores or on cable to make the higher cash back on the offermeta id=”10233″ field=”title”] lucrative for them, or anyone who doesn’t have time to pay attention to spending categories.

What’s the same

You’ll pay a $0 annual fee with both the Ink Business Cash® Credit Card and the Ink Business Unlimited® Credit Card. However, you will pay a foreign transaction fee of 3% of each transaction in U.S. dollars with either card, so if you travel a lot, you may want to look elsewhere. The interest rate for both cards is currently 18.49% - 24.49% Variable, and you’ll have access to additional employee cards for no additional cost.

What It Means for You

If you don’t already have a business credit card, having the extra cash flow in your back pocket can make all the difference in terms of business success. Choosing the best Chase business credit card for you can also help you establish business credit. Just be aware that defaulting on the card or making late payments could impact your personal credit scores. (You can check your personal and business credit data at any time by using Nav.)

FAQs

• Can I get a Chase Ink Business Credit Card without a business?

  You need to be making some income to qualify for a business credit card. However, new businesses are often eligible for business credit cards — your business revenue may not even factor into the credit card provider’s decision. Instead, they’ll mostly look at your personal credit score.

• What credit score do you need for a Chase Ink card?

  You’ll need a good to excellent credit score to qualify for a Chase Ink credit card, which is typically 690 or higher. The higher the better, so having over 700 is generally recommended before you apply.

• Is Chase Ink easy to get?

  Chase Ink business credit cards require a good to excellent credit score to qualify. However, business credit cards are easier to qualify for than business loans, for example. Although Chase doesn’t offer a secured business credit card — which is usually the easiest type of credit card to get — you may still qualify for one of its Ink business cards.

• Does Chase Ink do a hard pull?

  When you apply for a Chase Ink business credit card, Chase will do a hard credit pull. This is also called a hard credit check or hard credit inquiry. This means that Chase will pull your entire personal credit report to see if you qualify for its credit product. A hard credit pull typically lowers your credit score by five to eight points because credit bureaus consider you more risky when you’re looking for funding. (It might mean you can’t afford your current bills). The good news is that this dent in your credit score usually only lasts for a few months and then it goes back up. 

• Do you need an employer identification number (EIN) for Chase Ink?

  No. You don’t need an EIN to apply for a Chase Ink business credit card. You can apply using your Social Security number. However, it might be a good idea to create a free EIN in order to protect your Social Security number from displaying on applications.