Advertiser Disclosure: This site is part of affiliate sales networks and receives compensation for sending traffic to partner sites. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers.
2023.10 Update: There’s $1,500 offer in branch! The spending requirement is also $10,000 in 3 months. You may also see this offer online via pre-approval (targeted). HT: FM. This is a fantastic offer, and worth a visit to a local branch if you are interested in this card.
2022.10 Update: This card is available online now.
Application Link
Benefits
- $1,000 offer: earn $1,000 bonus cash back after spending $10,000 within the first 3 months of card membership.
- Earn 2.5% cash back on purchases of $5,000 or more. Earn 5% cash back on travels via UR portal.
- Earn unlimited 2% cash back per $1 spent on all other purchases.
- Primary car rental insurance, but for business purpose only. Note that, unless you can prove that you are traveling on business (which you will be required to do in the case of a claim), you will be better using the primary car rental insurance on the Chase Sapphire Preferred or the Chase Sapphire Reserve.
- Cell phone protection. Details not clear yet.
- This is a charge card, which means there is no pre-set credit limit but you need to pay in full every month.
- No foreign transaction fee.
Disadvantages
- Annual fee of $195, NOT waived for the first year.
- Note that, although this is a Ink series card, cash back earned on this card can not be transferred to airline/hotel partners, and you can’t even combine Ultimate Rewards (UR) points with other UR cards! So this card should be treated as a pure cash back card, not a UR card.
Introduction to UR Points
- You can earn UR points with Chase Freedom Student, Chase Freedom, Chase Freedom Unlimited (CFU), Chase Sapphire Preferred (CSP), Chase Sapphire Reserve (CSR), Chase Ink Cash (Business), Chase Ink Unlimited (Business), Chase Ink Preferred (Business), etc.
- You can move your UR points from one UR card to another at any time.
- UR points never expire. You will lose the UR points on one card if you close the account, but you can prevent losing your UR points by moving the points to another UR card beforehand.
- If you have Chase Sapphire Preferred (CSP), Chase Sapphire Reserve (CSR), or Chase Ink Preferred (Business), UR points can be transferred to some hotel points. One of the best way to use UR points is to 1:1 transfer to Hyatt points. UR points can also be transferred to some airline miles. One of the most common and best way to use UR points is to 1:1 transfer them to United Airlines (UA) miles (Star Alliance), and combine them with the UA miles earned from the UA card. Other good options are: Southwest (WN) (Non-alliance), British Airways (BA) (Oneworld), Virgin Atlantic (VS) (Non-alliance), etc. If you use UR points in this way, the value is about 1.6 cents/point.
- If you have Chase Sapphire Reserve (CSR), you can redeem your UR points at a fixed rate 1.5 cents/point towards air tickets or hotels on UR travel portal; if you have Chase Sapphire Preferred (CSP) or Chase Ink Preferred (Business), you can redeem your UR at a fixed rate 1.25 cents/point towards air tickets or hotels on UR travel portal.
- If you have any of the UR cards, you can redeem your UR points at a fixed rate 1 cent/point towards cash.
- In summary, we estimate that UR points are worth about 1.6 cents/point.
- For more information about UR points, see Maximize the Credit Card Points Values (overview), and Introduction to UR: How to Earn and Introduction to UR: How to Use (very detailed).
Recommended Application Time
- [5/24 Rule] If you have 5 or more new accounts opened in the past 24 months, Chase will not approve your application on this card, no matter how high your credit score is. The number of new accounts includes all credit card accounts, not only Chase accounts. See this post for details about how to possibly bypass this rule.
You are not eligible for this sign-up bonus if you received a sign-up bonus on this card within 24 months. Note that what this 24-month clock starts from when you last got the sign-up bonus, not the time you open the account or close the account.[Correction] There is no such rule for Chase Ink series!- Don’t apply for more than 1 Chase business credit cards within 30 days, it’s highly likely that you will get rejected.
- We recommend that you apply for this card after you have had a credit history for more than a year.
Summary
The sign-up bonus is very generous, so it is definitely worth applying if under 5/24. What’s special on this card is the 2.5% cash back earning ability on purchases over $5k, and the cost is an expensive annual fee of $195 compared to the no annual fee 2% cards. So this card is suitable for those who can easily spend at least $40k a year with large purchases.
Note that, although this is a Ink series card, cash back earned on this card can not be transferred to airline/hotel partners, and you can’t even combine Ultimate Rewards (UR) points with other UR cards! So this card should be treated as a pure cash back card, not a UR card.
Related Credit Cards
Recommended Downgrade Options
After Applying
- Call 800-453-9719 to check Chase business cards application status. This is an automated telephone line, and the information has the following meanings: Receive decision in 2 weeks means your application is probably approved; Receive decision in 7-10 days means your application is probably rejected; Receive decision in 30 days simply means your application requires further review and there’s nothing to tell you for now.
- Chase reconsideration backdoor number: 888-270-2127 or 888-609-7805. It’s pretty hard to recon Chase business cards. Be prepared to be asked about a lot of details of how your business operates.