Chase Unveils New Small Business Credit Card
Chase launched its new Chase Ink Business Preferred credit card this week, which allows small businesses to earn rewards on their most frequent expenditures.
New cardmembers will earn 80,000 bonus points if they spend $5,000 in their first three months as cardholders, which is worth $1,000 when redeemed towards travel rewards through Chase Ultimate Rewards. They will also earn three points per $1 on the first $150,000 spent on:
- Shipping purchases
- Travel, including airfare, hotels, car rentals, taxis and trains
- Advertising on social media sites and through search engines such as Google AdWords or Facebook
- Internet, cable and phone services
Cardholders earn 1 point per $1 on all other purchases.
Chase Ink Business Preferred cardmembers can also choose their rewards and can redeem points for cash back, gift cards or ‘Shop with Points’ on Amazon, or travel through Chase Ultimate Rewards, where points are worth 25% more. Points can also be transferred to frequent traveler programs at full value, and the points do not expire as long as the account is open.
Small business owners will receive a number of other benefits with their card, including:
- Additional cards for employees at no additional cost
- No foreign transaction fees
- Travel benefits, such as trip cancellation/interruption insurance and auto rental collision damage waiver
- Price, purchase, return and extended warranty protection
- Fraud early warning and zero liability protection
- Cell phone protection against theft or damage, if the cell phone bill is paid with the card
The $95 annual fee for the card can be waived for a year if the account is opened at a Chase branch.
“The way small business owners have to run their business and stay ahead is constantly changing,” said Pam Codispoti, President of Chase Branded Cards. “We designed Chase Ink Business Preferred with today’s small business owners in mind so they can earn more points in growing categories like digital advertising and, in turn, redeem points to help fuel the growth of their business.”