Business owners have their choice of dozens of different credit cards. These products range from premium rewards cards with numerous features and benefits, to simple cards that do little more than offer a convenient method of payment. The challenge for many business owners is finding the right business credit card that meets their needs while offering the best balance of costs and benefits. The Chase offers generous rewards and attractive promotional financing, with a annual fee.
Why We Like the Chase
- Sign-up bonus. New applicants
- Rewards for spending. . Rewards are earned as points in Chase’s Ultimate Rewards program, which can be redeemed for cash back, statement credits, travel reservations, gift cards and merchandise. Points can also be combined with rewards that you’ve earned from other Chase business or consumer credit cards, or the cards of your employees, spouse or domestic partner.
- Promotional financing. New accounts receive and , with a balance transfer fee of .
- Strong benefits. This card comes with several travel insurance and purchase protection benefits. When traveling, you’ll receive auto rental collision damage waiver coverage as well as access to travel and emergency assistance services including roadside dispatch. However, you will be responsible for payment for any services provided.
- Low rates and fees. Once the promotional financing offer expires, a APR will apply. The annual fee for the card is .
Where the ChaseFalls Short
- Rewards points can’t transfer to travel partners. Other Chase cards that offer Ultimate Rewards points allow cardholders to transfer their points to airline miles and hotel points.
- Limits on bonus categories. This card only lets you earn 5x rewards on up to $25,000 in combined purchases from office supply stores and Internet, cable and phone service providers. It also has a separate, $25,000 limit on 2x earnings from gas stations and restaurants. For some business owners, that spending amount may limit their rewards earning potential.
- Foreign transaction fees. This card imposes a foreign transaction fee of Many rewards cards no longer charge this fee.
- High balance transfer fee. The balance transfer fee is higher than most other cards that charge just 3%.
How to Make the Most of Its Perks
- Maximize its bonus categories. This card should be at the top of your wallet whenever you need to make a purchase from an office supply store or from a telecommunications provider where you can earn 5x rewards. Earning 2x rewards at gas stations and restaurants is also valuable.
- Combine points with other Chase cards. If you have this card as well as a Chase Sapphire Preferred, Sapphire Reserve or Ink Business Preferred, then you can combine your rewards in your other account, and then transfer them to airline and hotel partners. If these points and miles are redeemed for luxury hotel awards, expensive airline tickets in business or first class, then it’s possible to receive more than one cent in value per point.
- Utilize the promotional financing offers. A and the are generous in the business credit card space. Just be sure to pay off your balance before your account anniversary to avoid interest charges.
Other Similar Cards
SimplyCash Plus Business Credit Card from American Express
Capital One Spark Cash Select for Business
U.S. Bank Business Edge Cash Rewards World Elite MasterCard
New accounts receive nine months of 0% APR promotional financing. This card features 3% cash back on all cellular, gas and office supply store purchases, and 1% cash back elsewhere. You also receive a 25% annual bonus based on your prior year’s cash back, up to $250. There’s no annual fee for this card.