The Chase Ink Classic Business MasterCard is a card that is specifically designed for small businesses by Chase. This rewards credit card can be applied for online and you will receive instant results based on your application. You will have to provide a tax identification number as well as a legal business name in order to apply.
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Chase does offer other business credit cards, but this is the one recommended for small business use. Your company will need to have a great Dunn & Bradstreet score in order to qualify for this low interest rate credit card.
Chase Ink Classic Business Benefits
The Chase Ink Classic card is a rewards card. This can be a great benefit for businesses that choose to use credit cards to pay for all of their purchases and then pay off the bill every month.
In the case of this particular card, the rewards are specifically designed to benefit a business user by providing rewards points for purchasing office supplies, phone services and more. Here is how the points system breaks down:
- 5 points for every $1 spent up to $25,000 each year on office supplies, phone service, cable, and wireless internet
- 2 points for every $1 spent up to $25,000 each year for travel purposes
- 1 point for every $1 spent on anything else; there is no limit for this reward
- One-time bonus of 15,000 points after first purchase
- One-time bonus of 10,000 points after $5000 is spent in the first 3 months of card ownership
- No annual fee
- 0% 6 month introductory APR
- Free cards for employees
Chase Ink Classic Business Details
In order to know whether this is a good deal for you, it is important to understand the terms and conditions associated with the card:
- 13.24% to 19.24% annual APR and balance transfer APR after initial 6-month introductory offer
- 19.24% to 23.24% APR for cash advances
- 29.99% penalty APR
- No annual fee
- $15 for balance transfers or a 5% fee, whichever is higher
Chase Ink Classic Business Bottom Line
It will be difficult for new businesses to qualify for this card. In addition, the fees are somewhat higher when it comes to cash advances than you might find with other cards. You will want to compare reward credit cards to find the best option for your business.
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