Chase Ink Plus Business Credit Card Review (Updated 2016)
If you travel frequently for business, then a business credit card should be your card of choice. Business credit cards reward you for purchasing items and services that correspond to your business. You will be awarded with points, or air miles that can often be used for any travel expenses .The Ink Plus Business card is one of the best business credit cards available as it offers many great benefits. The following will provide an in depth review on the Ink Plus Card.
Our Favourite Things About The Ink Plus Business Card
- Earn 60 000 Bonus Points: This card will award you with 60 000 bonus points after you spend your first $5000 with this card in the first 3 months of card opening. $5000 isn’t a whole lot to spend considering this card is used for many business expenses. Redeeming these points through the Chase Ultimate Rewards equates to $750 in travel purchases.
- Earn Up To 5x the points: You will earn 5x points for every dollar spent on mobile phone services, office supply store, and internet and cable TV up to a combined total of $50 000 in purchases each account anniversary year.
- Earn 2x points: You will earn 2x the points per $1 spent on the first $50 000 spent on purchases at gas stations and hotel accommodations, when purchased directly with the hotel each account anniversary year. Basically this card gives you double the points for hotel bookings booked directly at any hotel.
- Earn 1x points: You will earn 1x the points per $1 spent on all the purchases. There is no limit on the amount of points you can earn.
- 1:1 Points Transfer: You can transfer your points with a 1:1 ratio to various frequent flyer programs without having to pay any sort of transfer fee. There are several major frequent flyer programs that are eligible for this rate. So for example 500 of your Choice Ultimate Rewards points would be equal to 500 points with any eligible frequent flyer program.
- No foreign transaction fees: This will definitely come in handy as you will not have to pay a foreign transaction fee when using this card to make purchases when travelling abroad. This is definitely a must for any business credit card.
- Free employee cards: You can receive up to 5 free employee cards and create individual spending limits for each of the 5 cards.
- Global acceptance: This card is equipped with a chip that provides enhanced security as well as international acceptance when used at chip enabled card readers.
- Trip Interruption/Cancellation insurance: If your trip is cancelled or interrupted due to an unforeseen event, you will be refunded for up to $5000 for trip costs that cannot be refunded by the hotel or airline. In order to receive these benefits, you have to use this card for the initial purchases.
Things We Do Not Like About The Ink Plus Business Card
- No 0% Intro A.P.R.: This card does not feature any sort of 0% introductory offer on all purchases and balance transfers. This makes this card not ideal for balance transfers. Right from card opening you will pay a variable A.P.R. of 15% on all purchases and balance transfers.
- Has an annual fee: This card features a hefty $95 a year annual fee, however if you will use the card often, the high rate of points and travel benefits far outweigh the annual fee.
Who The Ink Plus Best Suits
- Businesses who spend a lot of money on mobile phone plans, office supplies, as well as internet and cable TV.
- Those who travel often for business purposes.
How Ink Plus Business Card Compares To Similar Cards
Capital One Spark Miles For Business Credit Card
This is another popular business credit card that awards the user miles when they make purchases with this card. You can earn 2 miles for every $1 spent on every purchase. There’s no limit to how many miles you can earn and the miles do not expire. This is more of a flat rate rewards card as compared to the Ink Plus where you earn a different number of points based on what you purchase. This card also offers a sign up bonus as you will be awarded with 50 000 miles after you spend $4500 in purchases within the first 3 months of card opening. This bonus is very similar to the Ink Plus card, except with this card, miles, rather then points are awarded. Both cards do not have a foreign transaction fee which is a must for a business credit card. This card has a lower annual fee of $59, where the first year is free with no annual fee, compared to the Ink plus which has a $95 annual fee. This card like the ink Plus card, does not feature a 0% intro offer and purchases and balance transfers. It has a A.P.R. of 17% that comes into effect as soon as you get the card. This card also provides free employee cards, with the ability to earn the same rewards on all of them. Overall these cards are similar however Ink Plus card has a lower interest rate. You should definitely get this card as it offers 5x the points on purchases allowing you to really accumulate points quickly.
Ink Cash Business Credit Card
This is another business credit card that is very similar to the Ink Plus card. It has a different sign up bonus as you’ll earn a $200 bonus cash back after you spend the first $3000 on purchases within the first 3 months. The Ink Plus card offers 60 000 points after you spend $5000. These cards have different reward systems, the Ink Cash card offers cash back, and the Ink Plus offers points. The Ink Cash card allows you earn 5% cash back on certain items, 2% on other certain items, and 1% cash back on all other purchases. This card has no annual fee, and also offers free additional cards for employees. One major downside to this card is that there is a foreign transaction fee of 3%. Many people travel abroad for business and would be charged the 3% fee every time they used the card for a purchase in a foreign country.
Now, this card does offer a few features that the Ink Plus card does not. This card has a 0% introductory offer on all purchases and balance transfers for 12 months. This is a great feature for a business card to have, the other cards mentioned in this article do not have this offer. However the foreign transaction fee is a downer for this card, but if you can get past that , then this is a high quality card.
Business Platinum Card From American Express Open
This business credit card offered by American Express works a bit differently then other other business cards. It features a welcome offer that awards you with 40 000 Membership Rewards points after you spend $5000 in the first 3 months. With the Membership Rewards program, you are awarded 1 point for each $1 that is spent on eligible purchases. This card does not have a foreign transaction fee either. This card also features a 30% airline bonus, as when you use Membership Rewards to pay for all or part of the flight, you will get 30% of the points back. Furthermore, this card features premium benefits which include world class platinum benefits, travel benefits, and access to one of a kind events. You can even get free complimentary wifi access if you enrol your card with Gogo and Boingo, as it will get you 10 Gogo inflight internet passes.
As you can see this card is more for the ‘high rollers’ type. The annual fee is an incredible $450, so as you can see this card just isn’t designed for anybody. If you are someone who travels all around the world for business, doing everything first class then this card could be good for you. However, for most people, The Ink Plus and the Ink Cash will be the cards of choice.
Should You Or Shouldn’t You ? Our Final Verdict
The Ink Plus card offers a lot of value, which many find to be their fist choice when choosing a business card. The cash back rate is very high, at 5% on business expenses which will allow you to quickly accumulate points. The 5% rate on points, as well as the 60 000 bonus points offer, easily out weigh the price you pay on the $95 annual fee. This card has everything you would want with a business travel credit card, such as good rewards system, no foreign transaction fee, and trip cancellation/interruption insurance. With that being said, the no intro A.P.R. means if you want to make a balance transfer, there are much better cards out there for you. Other then the no interest period, you really can’t go wrong with this card. If you are one to carry a low balance, and need a business card that offers a solid points reward program then you should definitely get the Ink Plus card.