Chase Ink Plus Business Card Review: $500 Cash, $625 Travel Bonus

Chase ink Plus Business CardChase has announced a new small biz credit card, called the Ink Plus® Business Card. It turns out to be very similar to the Chase Ink Bold Business card (full review), but with the important difference that the Ink Plus is a credit card where you can carry a balance and the Bold is a charge card that you must pay in full each month. The current APR for both purchases and balance transfers is 15.24%.

The good news is that the Ink Plus has a sign-up bonus, offering 50,000 Ultimate Rewards points after your after spending $5,000 in the first 3 months your account is open. You can read about my Ink Bold bonus experience here. To briefly recap:

Ultimate Rewards points are very flexible:

  • Cash. 1 point = 1 cent in cash, so 50,000 points = $500 cash.
  • Travel. 1 point = 1.25 cents towards travel, so 50,000 points = $625 towards travel at the same prices at Expedia or Travelocity (no markups), split up however you like into multiple tickets, down to the penny.
  • Frequent flier miles and hotel rewards points. Transfers directly to United miles, British Airways miles, Hyatt hotel points, and Marriott hotel points.

The card also has the following same Ink Bold features:

  • Flexibility to pay your balance over time or in full
  • Earn 5X points per $1 on the first $50,000 spent annually at office supply stores, and on cellular phone, landline, internet, and cable TV services
  • Earn 2X points per $1 on the first $50,000 spent annually at gas stations and for hotel accommodations when purchased directly with the hotel
  • No foreign transaction fees
  • 1:1 point transfer to popular frequent travel programs with no transfer fees
  • $0 Intro Annual Fee for the first year, then $95.

I noticed that you can buy Amazon.com gift cards at Staples and OfficeMax and get the 5x points, effectively discounting them 5% in cash (6.25% in travel), which may also help you with the spending requirement. Based on past experiences, you should be able to get this card and bonus in addition to the Ink Bold card as they are different cards. I already have the Chase Sapphire Preferred personal card and the Ink Bold card, so I’ll probably wait for a bit during my no-annual-fee first year and then try out this new card as well for my business.

Many people aren’t aware of the fact that they can apply for business credit cards, even if they are not a corporation or LLC. The business type is called a sole proprietorship, and you may be a consultant, freelancer, or other one-person business. This is the simplest business entity, but it is fully legit and recognized by the IRS. On a business credit card application, you should use your own legal name as the business name, and your Social Security Number as the Tax ID.

Ink Plus® Business Card application link

“Disclaimer: This content is not provided or commissioned by the issuer. Opinions expressed here are author’s alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer. This site may be compensated through the issuer’s Affiliate Program.”

Comments

  1. I believe you can use your Amex and get 10% off Staples through their open savings network. So, you could get 10% off Amazon cards plus whatever reward points you get through Amex.

  2. You need to remind people that the CARD ACT does not apply to business cards…..

  3. Sofaking Nuts says:

    Does having a business card mean you don’t get the warranty extension typically extended? What other implications are there to having a business card?

  4. Dmitri Ivanou says:

    Dear Mr. MMB,

    I cant help but wonder why you are not covering the best value there currently is for money sign up bonus by BOFA- Cash Rewards Signature Visa ?

    Get 400 for spending 500 and get extra 10% if wire the rewards to BOFA checking (meaning you spend 500 & get 440 back!)

    It looks though that for the non-BOFA account holders the bonus is mere 100, but it may be worth opening one

  5. It has a 3% Balance Transfer fee as well.

  6. @YM – Thanks, but do you mean OfficeMax? I see 10% off $250+ purchase for online and telephone orders (no in-store).

    https://www257.americanexpress.com/opensavings/openpartners.do#01

    @Ack – Good point. What CARD Act features apply for those that don’t carry balances or pay interest?

    @Sofaking – It depends on the business card, some replace some of the mandated consumer protections with their own. I’m not sure about warranty protection on this card, I don’t know if I still have my Ink Bold paperwork.

    @Dmitri – I haven’t heard of that offer. Sounds nice, but targeted – do you have a BofA link?

    @Squeezer – Good point, I forgot to add that.

  7. Dmitri Ivanou says:

    The link seems to be internal only — shows while your are logging off bankofamericaonline.com

  8. Does the 5x bonus on this card in the cable/TV service category count Netflix?

  9. @Dmitri

    Then that means the offer is targeted and is not publicly available to everyone. Jonathan wouldn’t write about something that many people can’t replicate right? Even if you were to open a BoA account to check, there’s no guarantee you’ll get the same offer.

  10. @Rob – Good question, I’m not sure. My guess would be no as it should be categorized under entertainment of some sort.

    @Dmitri, Eric – No worries, I appreciate the notice. I have a BofA account and logged in/logged out and did see the usual $100 bonus but no $400. Maybe just expired. BofA hasn’t had a big bonus like that in recent memory.

    @Sofaking – To follow up on the extras, the Ink cards with annual fees (Ink Bold and Ink Plus) have the following features:

    Purchase Protection – Within the first 90 days of purchase, Purchase Protection will replace, repair or reimburse you for eligible items of personal property purchased up to $500 per claim and $50,000 per cardholder, in the event of theft, vandalism, accidentally discharged water, or certain weather conditions.

    Extended Warranty Protection – For manufacturer’s warranties of 3 years or less, the extended protection feature doubles the eligible warranty for up to 1 additional year.

    Trip Cancellation Insurance
    Trip Delay Coverage
    Travel Accident Insurance, $500,000 coverage
    Lost Luggage Reimbursement

  11. Hi Jonathan,

    So the only difference between the two cards is one is a charge card and the other is a credit card? They have exactly the same sign-up bonuses? Would you recommend one over the other?

    Thanks,
    Frank

  12. If you’re spending $10K in the first 3 months, then your business better be bringing in the cash to pay the bills. Sounds like a risk for rewards points.

  13. Offer details say “This one-time bonus offer is valid only for first-time cardmembers with new accounts. Previous and existing cardmembers/accounts are not eligible for this bonus offer.” Does this mean if you have any other Chase credit card you won’t get the bonus?

  14. @Nick – No, that only applies to the same card, in this case the Chase Ink Plus card. I’ve gotten bonuses for the Chase Freedom, Chase Ink Bold, and Chase Sapphire Preferred card all in my name. You can even get separate bonuses for the Ink Bold and the Ink Plus card.

  15. I have a small business on and off. I report the business income to IRS. I have a full time regular job. If I open the chase Ink card, do I have to use the card for business related use? Or can I use it just like personal credit card?

  16. I’m not a business owner. As a salaried employee what should I put as the “Annual Business Revenue/Sales”. Is this my salary?

  17. Victoria says:

    Also, are we allowed to have both the Ink and Ink Plus Card? (and get the points). I have the Ink Card from years ago (no, I don’t think I signed up with a bonus or got points from it).

  18. I know this doesn’t relate to this credit card offer, but here is a good bonus from sharebuilder (sharebuilder.com/bonus) for anyone with cash making a low interest rate. After reading the fine print, it doesn’t have to be invested in the account, just transferred. The promo codes are in the fine print; codes are different for new accounts vs. existing accounts.

  19. Love it!
    Thank you for contacting Chase about first use bonus on
    your Ink Plus account.

    I would like to confirm that as per the offer on your
    account, you are eligible to receive 60,000 bonus points
    after spending $5,000.00 in purchases in the first 103
    days from the account open date. Please be assured that
    the bonus points will post to your account within one or
    two billing cycles after the spending threshold is met.

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