I receive compensation for content and many links on this blog. You don’t have to use these links, but I am grateful to you if you do. American Express, Citibank, Chase, Capital One and other banks are advertising partners of this site. Any opinions expressed in this post are my own, and have not been reviewed, approved, or endorsed by my advertising partners. I do not write about all credit cards that are available -- instead focusing on miles, points, and cash back (and currencies that can be converted into the same).
Chase introduced a brand new small business card. It has no annual fee, a great bonus, and fast-earning. That’s a great combination, there are four reasons you should apply for the card.
- Signup Bonus. $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening. That’s good on its own but think of it as 50,000 points since there’s plenty you can do with that which can be even better than cash.
- Earn 50% more points for all your unbonused spend. Instead of earning one point per dollar you earn 1.5 points per dollar (think of it that way rather than “1.5%” back). That’s 50% more points than you’ve earn on spend outside of the travel and dining categories with Chase’s premium personal Ultimate Rewards cards.
- Works well with Chase Sapphire Preferred. If you have Chase Sapphire Preferred or one of the other Ultimate Rewards cards with an annual fee, you can transfer points to the that card and from there to airline miles or hotel points. Now you’ve increased your points earning by 50% on all of your non-travel, non-restaurant spend, without giving up the ability to transfer points.
- No annual fee. It’s remarkable to see a 50,000 point ($500) bonus, and such strong earning, on a card with no annual fee. So you can accelerate your earning without higher recurring expense.
As far as I can tell the only reasons not to apply for the card are,
- You don’t think you’re eligible for a business card although far more people are eligible, and should get one, than realize it. If you see yourself doing any business at all you want to separate your personal and business spending and the best way to do that is to start with a small business credit card.
- You already have a Freedom Unlimited since these cards are similar in their 1.5 points per dollar earn, however that personal card hasn’t ever had a big bonus like this one does.
- You’re over 5/24. If you’ve had 5 or more new credit card accounts opened in the past 24 months (not including business cards from major issuers like American Express and Citibank that don’t report to your personal credit) then you may not be eligible for approval for this one.