Too many business owners are sitting on a debit card or using a low-value business credit card because they don’t know any better. It’s time to get rewarded for your spending, and this is the BEST TIME OF YEAR to make a change. Get one of these three Chase business cards now, and be ready for January 1, 2019.

Don’t miss out! Start 2019 with $500 in cash or $1,500+ in free travel. These three cards are the top ranked cards on Travel Freely. Spend 5-10 minutes to open up a new business card, and start racking up the free money.

Don’t be fooled by other cards with large sign-up bonuses. Not all points are equal. Chase points are the best points in the eyes of most Travel Freely users. They are highly valued compared to other programs. We value them at 1.8 cents per point because of their value when transferred to travel partners like Southwest, United, Hyatt, or Marriott. So once you hit your $5,000 bonus spending requirement, you’ll have 85,000 points worth $1,530 in free travel! Additionally, the 3x categories (including travel expenses) are like 5.4% cash back. Even if you don’t travel often, you can get cash back at 1:1. So 85,000 points is an easy $850 cash back.

 

Ink Preferred – 80,000 Points (Learn More)

 

 

 

This is the best overall business card right now with a great sign-up bonus and 3X categories. It’s hard to beat the Chase Ink Business Preferred if you’re looking for an all-around business card that has flexible redemption options and can be combined with your personal Chase Ultimate Rewards points.

  • Earns 3X rewards on travel, shipping, internet, cable, phone, and advertising with social media sites (up to $150K spend per year)
  • Points worth 25% more when redeemed for travel
  • Cell phone protection against theft or damage
  • No foreign transaction fees

 

Ink Cash – $500 cash or 50,000 points (Learn More)

 

 

 

Incredible signup bonus for a no-fee card. An excellent companion to the Ink Preferred, personal Sapphire Reserve or Sapphire Preferred. Like the personal Sapphire cards, this card earns valuable Chase Ultimate Rewards.

  • Earn 5X rewards (on first $25k spent) for phone, TV, internet, and office supply stores.
  • Earn 2X rewards on gas and restaurants
  • It has 0% APR for 12 months
  • No Annual Fee

 

Ink Unlimited – $500 cash (Learn More)

An all-round great cash back business card with no annual fee. It’s very simple. You earn unlimited 1.5 points per $1 spent on all purchases. Also has 0% APR for 12 months. This can be a great standalone card, but it is a excellent companion card to the Ink Business Preferred, Sapphire Reserve or Sapphire Preferred!

  • Earn 1.5X rewards on Everything
  • It has 0% APR for 12 months
  • No Annual Fee
CardSign-up BonusSpending RequiredAnnual Fee
Ink Preferred80,000$5,000 in first 3 months$95
Ink Cash$500$3,000 in first 3 months$0
Ink Unlimited$500$3,000 in first 3 months$0

How to Apply

Click through below to move forward with a certain card.

Tell Chase about your business

The first part of the application is about your business.  If you already have a well established business, then the answers should be straightforward.  If you are just getting started with your business, below are examples of how to fill this out.  These answers assume that you do not have any employees and you operate as a sole proprietorship (which is the most basic form of a business).  Use your judgment to answer differently if the examples given don’t match your circumstances:

Business Information

  • Legal Name of Business:  If you don’t already have a business name, I recommend using your own name as the business name.
  • Business Name on Card: Again, this can be your own name if you don’t have a business name to use.
  • Business Mailing Address: This can be your home address if you don’t have a separate business address.
  • Type of business: Sole Proprietor
  • Tax Identification Number: This can be your SSN, but I you can also create an EIN for your business (found here)
  • Business category/type/subtype: Pick whichever categories are closest to your business
  • Number of Employees: 1 (you)
  • Annual Business Revenue: 0 (or project an amount based on monthly revenue to-date)
  • Years in Business: (number of years you’ve been operating the business with or without revenue)

Personal Information

This part of the application is about you, personally:

  • Authorizing Officer: Owner
  • Gross annual income: Include all of your income, not just business income
  • The rest should be self explanatory

How to improve your chances of success

The following tips can help with approval, but none are guaranteed:

  1. Check in-branch for pre-approval
  2. Sign up for a Chase business checking account
  3. Use an EIN instead of your SSN when entering your Business Tax ID on the application
  4. Do not call if your application goes to pending
  5. Call if your application is denied
  6. Try a Special Consideration Form if you are denied (and if calling doesn’t help)

Do not call if your application goes to pending

When applications go to pending, people frequently find that they get approved without calling. When people do call, they often get tough analysts who deny the application.

The approval process goes through up to 3 “gates”:

  1. Instant Approval (this is rare with Ink business cards)
  2. Automatic Approval, sent by mail (may take several weeks)
  3. Analyst Phone Approval

If you’re not instantly approved, then calling bypasses gate 2 and may reduce your overall chance of approval. Instead, I recommend waiting to get a letter in the mail. Hopefully it will say “congratulations”.

Of course, if Chase contacts you asking for more information then you absolutely should talk to them on the phone. In some cases they may simply need more information about you or your business before your application can go through the next review stage.

Call if you are denied (and call again)

If your application is outright denied (either instantly or by mail), then call Chase’s business reconsideration number, which is open Monday through Friday during business hours. There are many cases where analysts have overturned denials over the phone. If denied, call reconsideration at 1-888-270-2127 for business cards.

The analyst will likely ask a lot of questions. Make sure your answers match your application. Also, if you have multiple Chase business cards, make sure to let the analyst know that you don’t need Chase to extend you more credit. Tell them that you are willing to move available credit from another card or to cancel another card if necessary. Be prepared to answer financial questions about your business. Be prepared to answer questions about why you want the card and how you expect to use it. There is absolutely nothing wrong with saying that you were attracted by the signup bonus and by the 5X spend categories (for example).

If the analyst doesn’t approve your application, call again. Many people have had luck simply calling a few times until the reached an analyst willing to take a chance on their business.

Any questions? Feel free to ask in the comments below or email me at [email protected]

Get to Know Chase Ultimate Rewards

Chase Ultimate Rewards points are valuable and flexible. At the simplest level, you can redeem points for cash or merchandise, but only at one cent per point. The best value is to use the points for travel. You can use points to book travel through the Chase Ultimate Rewards portal, where points are worth 1.25 cents each with premium cards (Sapphire Preferred or Ink Business Preferred, for example) or 1.5 cents each with the ultra-premium Sapphire Reserve card. 

Ultimate Rewards points associated with a premium or ultra-premium card can also be transferable to an airline or hotel program. If your points are associated with a no-fee “cash back” Ultimate Rewards card, then you will want to move those points to a premium or ultra-premium card before redeeming them in order to maximize value.

The most popular Chase Ultimate Rewards Transfer Partners are Southwest, United, Hyatt, and Marriott/SPG. Points transfer 1:1.

Learn More: Chase Ultimate Rewards Guide

 

Best Strategies by Business Type

For large businesses or owners of multiple businesses: If your business spends a lot of money in certain categories, it may be worth having two of these cards. For example, you would obviously want the Ink Business Preferred for the large sign-up bonus and great ongoing benefits like 3x categories with monthly spending. Then, you could pair it with the Ink Business Cash and utilize the 5x categories for specific monthly spending. Then, you would connect your accounts and transfer those Ink Cash points to the Ink Preferred portal to get an extra 25% in the Chase Travel Portal.

For owners of multiple businesses: You can get more than one of these cards if you have multiple EINs or a spouse that can apply for an additional card using her SSN. You want to take a look at your monthly spending, and see if you could benefit by having separate business cards for each business. Travel Freely Member Rob has 6 LLCs and got six Ink Preferred cards this year! Tip: Use Travel Freely to automate your card management.

For very small or side business owners: Yes, you have a business. It’s common for people to have businesses without realizing it. If you sell items at a yard sale, or on eBay, for example, then you have a business. Similar examples include: consulting, writing (e.g. blog authorship, planning your first novel, etc.), handyman services, owning rental property, renting on airbnb, driving for Uber or Lyft, etc. In any of these cases, your business is considered a Sole Proprietorship unless you form a corporation of some sort.

The best option for a small business may be the Ink Cash or Ink Unlimited because of the lower $3,000 spending requirement to hit a bonus (and no annual fee).

For Sole Proprietors: When you apply for a business credit card as a sole proprietor, you can use your own name as your business name, use your own address and phone as the business’ address and phone, and your social security number as the business’ Tax ID / EIN. Alternatively, you can get a proper Tax ID / EIN from the IRS for free, in about a minute, through this website.

 

Common Questions:

Can I put personal spending on business cards?

This is fairly common. While it’s good practice to separate business and personal spending, and banks may dissuade you from doing this, it isn’t illegal and many people do this.

What are the rules on getting more than one of these cards?

These cards are all treated as separate cards. You can only apply and get approved for more than one. Keep in mind that Chase only allows you to apply and be approved for 2 cards (2 personal, 2 business, or 1 personal + 1 business) per 30 days. Also, people have reported issues when trying to apply for two cards on the same day. So it’s better to space out the applications by a few days.

If I have a personal Chase card, like the Chase Sapphire Preferred or Chase Sapphire Reserve, can I transfer the points I earn on my business card to my personal card?

Absolutely. You can transfer points to other Chase accounts you have or those who are household members or authorized users. Here’s a walkthrough on how to Chase merge points.

Do these cards count towards 5/24?

If you’re getting into travel rewards, you know that the Chase 5/24 rule is important. You must be under 5/24 to be approved. However, compared to personal cards, these Chase cards do NOT count towards your 5/24 count.

 

Any questions? Feel free to ask in the comments below or email me at [email protected]

Note: Content in the section “How to Apply” originally appeared on Frequent Miler. Posted here with permission.

 

Am I Eligible For a Business Credit Card?

 

Chase Ultimate Rewards Guide