Ink Plus® Business Card Review
The Ink Plus® Business Card is a points rewards credit card that offers great travel benefits and access to several partner rewards programs. There is a $0 intro fee for the first year and a $95 annual fee after that, but with all the redemption options, the Ink Plus® Business Card is still a solid choice.
Great point transfer possibilities
Points earned through the Ink Plus® Business Card are redeemed through Chase Bank’s Ultimate Rewards program. One great aspect of the program is the 1:1 point transfer to participating travel programs with no transfer fees. Having access to a variety of programs allows you to do more with your points, making them more valuable.
Solid travel features
In addition to flight, travel, lost luggage, and car rental insurance, the Ink Plus® Business Card comes with access to over 350 airport VIP lounges and no foreign transactions fees. These travel benefits are amongst the best in the industry, and ideal for anyone that spends a lot of time on the road.
Diverse earning options
The Ink Plus® Business Card provides multiple ways to earn bonus points. You will receive 50,000 bonus points after you spend $5,000 in the first three months from account opening. Cardholders will also 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. In addition, you can 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.
With the Ink Plus® Business Card, you have some control over how you make your payment. Like all credit cards, you have the ability to pay your balance in full. With Ink Plus, you have the cash flow flexibility with the choice to pay over time or pay in full. Having some payment flexibility can allow you to stay current on your account, and not get hit with any additional fees.
Numerous redemption choices
In addition to having access to several partner points programs, the Ink Plus® Business Card allows points to be redeemed for cash back, car rentals, gift cards, travel, hotels, and other merchandise. With all of these available opportunities, you’ll definitely be able to find a redemption option that suits your needs.
Sign-up bonus requires high spending
Although 50,000 points is among the highest bonuses offered in the industry, the spending required to be eligible is also comparatively high. For those with larger budgets, the $5,000 mark will likely not be difficult to hit. However, small businesses with fewer expenses may find it more difficult to satisfy the spending requirements.
$95 annual fee
Ink Plus® Business cardholders are required to pay a $95 annual membership fee. Similar to other business credit cards, this fee is waived for the first year, but applied to each subsequent year. The rewards offered with the card can easily cover the annual fee, but there are several business rewards credit cards out there that require no annual fee at all.
Limits on bonus categories
Although the Ink Plus® Business Card offers a variety of business-appropriate ways to earn bonus points, bonus rates are only applied to the first $50,000 per year in each category. For smaller organizations, this may not be a problem. However, for organizations with larger budgets, rewards programs that cap bonus rates are less desirable.
Rates and Fees
- Annual Fee: $95 ($0 first year)
- Balance must be paid in full each month: No
- Cash Advance Fee: $15 or 5% per cash advance
- Cash Advance Rate (APR): 19.24%
- Foreign Currency Transaction Fee: None
- Introductory Rate (APR): None
- Standard Rate (APR): 15.24%* Variable
- Default Penalty Rate (APR): 29.99%
- Late Payment Fee: $15 to $39 depending on the balance
- Minimum Interest Charge: None
- Over-Limit Fee: None
- Returned Payment Fee: $39
Balance Transfer Fees
- Balance Transfer Fee: $5 or 3% per transfer
- Introductory Balance Transfer Rate (APR): None
- Standard Balance Transfer Rate (APR): 13.24%* Variable
- Additional Rewards for Cell Phone Services: 5 points per $1 (on first $50,000 spent annually on office supplies, cell phone, landline, Internet, and cable TV services)
- Additional Rewards for Dining: None
- Additional Rewards for Gas: 2 points per $1 (on first $50,000 spent annually on gas and hotel accommodations when purchased directly with the hotel)
- Additional Rewards for Internet Services: 5 points per $1 (on first $50,000 spent annually on office supplies, cell phone, landline, Internet, and cable TV services)
- Additional Rewards for Office Supplies: 5 points per $1 (on first $50,000 spent annually on office supplies, cell phone, landline, Internet, and cable TV services)
- Additional Rewards for Other: 20% off travel redemptions when booked through Ultimate Rewards
- Additional Rewards for Travel: 2 points per $1 (on first $50,000 spent annually on gas and hotel accommodations when purchased directly with the hotel)
- Bonus Rewards: None
- Rewards Earnings for All Purchases: 1 point per $1
- Sign-Up Bonus: 50,000 points after spending $5,000 in the first 3 months
- Type of Reward: Points