The Chase Ink Bold Business Charge Card is a great alternative charge card for the small business owner and traveler. If you have to do the traveling and spending for your small business, and you hate getting nickel and dimed by miscellaneous charges this might be the right choice for you.
Chase is ambitiously attempting to target the market that has traditionally been the domain of American Express. Chase seems to have hit on a successful formula with the Chase Ink Bold Business Charge Card. If you are going to be spending on the sort of purchases that you get most rewards, why not look at this as an American Express alternative?
Taking Care Of Business With The Chase Ink Bold Business Charge Card
The Chase Ink Bold Business Charge Card is optimized for small business users who will be claiming expenses each month from their companies. In return they get the perks of a cash rewards card that pays back a generous portion of points for cash, travel, merchandise and events.
Rewards and Description
- The Chase Ink Bold Business Charge Card is a charge card and not a credit card
- Cash back rewards on purchases
- Generous rewards paid on designated purchase categories of up to 5% cash back
- Annual fee waived for the first year
- Discount on airline tickets, car rental and hotel bookings
This is a cash back business charge card, competing directly with American Express. It has a flexible monthly spending limit on your card, based on your credit history. You do need to pay the balance off by the monthly due date to avoid late fees.
The fees associated with Chase Ink Bold Business Charge Card are its most competitive features. The annual fee is waived for the first year and is $95 thereafter. That looks high if you’re used to credit card fees but very competitive with American Express charge cards.
For the international traveler and transactions where you pay in foreign currency there’s no fee. If you need to give the Chase Ink Bold Business Charge Card cards to your employees there’s no fee for additional employee cards. Finally, you can transfer your points, one-for-one, to many of the most popular frequent flyer programs without any fees on that. These are things to consider and to weigh against the annual fee.
What Gets The Most Rewards?
- 50,000 Bonus Points
- Points give you 1% cash back on purchases
- 5% points on select purchases
- 2% Gas and Hotels
The Chase Ink Bold Business Charge Card pays rewards through the Chase Ultimate Rewards Program. You can get cash, travel, gift cards and entertainment perks on the program. Initially points may take up to two months to post to your account.
The new customer offer is that you get 50,000 bonus points for spending $5,000 on the card within the first three months. To appreciate what that means, it works out to a $500 cash back bonus. If you are going to use it for flights and redeem through Ultimate Rewards, you get a 20% discount on your ticket price. As long as you do it within the terms of the program, it’s like paying for a $625 ticket with your points.
You earn extra points on purchase of items that are classified in designated categories. Items that earn five times the basic points per dollar spent include Internet and cable services, phone services but not new phone equipment, office supply
It also gives you 2% cash back on purchases at gas stations and hotel accommodation booked directly from the hotel. On all other qualifying purchases you earn one point per dollar spent. The 2% and 5% offer is limited to the first $50,000. The 1% cash back on purchases has no limit, so you’ll at least get one point for every dollar spent on purchases in the long term.
Chase Ink Bold Business Charge Card Rewards
What can you get with the Chase Ink Bold Business Charge Card? When you exchange your points you can use them in four main categories. First you can take cash as either a statement credit or a direct deposit to a Chase checking account. You can redeem point for merchandise at Amazon and gift cards for major retailers. Alternatively points can be sued for event tickets sports events and dining.
Finally, the best value use for your accumulated points is travel. You get 20% off travel purchases when you redeem through Chase Ultimate Rewards. This applies to flights, car rental, hotels and cruises. Alternatively, points can be transferred to a list of frequent traveler programs for airlines and hotels with no transfer fees.
There are no blackouts or restrictions on travel periods to redeem rewards, which means using them when it suites you. The minimum amount that can be redeemed is 2000 points or $20. Chase uses the Visa Merchant code category to determine the level of points that you receive for a purchase.
A Veritable VIP Lounge of Features
- Online Banking and small business management applications
- Payment tracking to manage your customers
- Use of VIP airport lounges
Chase gives you access to a set of online tools and apps to manage your accounts and stay on top of card activity. There are also small business tutorials through the Chase Business Insights website.
There are also some innovative features for the small business owner. You can use it to accept payments online and with a Smartphone app and free card reader with no set up fee. You can use the online features to create your own image-based catalog to assure correct charging and billing. The online features help you track and search for payments and process voids and refunds with your merchant service through a Smartphone.
If you choose to actively enroll you can take a complimentary Lounge Club Membership. This will give you and a guest access to hundreds of VIP Lounges at airports around the world twice a year. Additional visits can be purchased for a fee of $27 per visit.
There’s a lot to consider in the Chase Ink Bold Business Charge Card. It is a very useful business tool with features and rewards that compete very well against the American Express Charge Card. It would be very useful to anyone who runs a small business and does a considerable amount of travelling.
Exactly how much you need to travel to get the most of it is indicated by the bonus rewards. If you’re likely to spend $5,000 in three months then this card will probably suit your needs. It may still be worth it if you spend less but do so on purchases that will give you 2% or 5% cash back.
Although you do get a great deal on cash back points Chase Ink Bold Business Charge Card lacks a few of the insurance features of an American Express Charge card. There is customer service live support any time. These may be irrelevant to your particular needs but you should shop around carefully to make sure you pick the charge card that works best for you.
Chase Bank has hit the charge card market hard with the features that it brings from its credit card experience. This is a great charge card alternative, with low fees and few catches to limit your usage. The rewards program is generous, with 5% cash back on designated purchases, 2% cash back at gas station and hotels and 1% on all other purchase.
The promotional bonus of 50,000 points when you spend $5,000 in the first three months makes a very appealing offer. It is even better combined with the 20% discount on travel through Ultimate Rewards, if you are going to use it for travel. As always, you should shop around and compare offers. However, if you make significant business purchases and have a need for travel, the Chase Ink Bold Business Charge Card is a great business tool.