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Why I’m Applying for My First Business Credit Card This Weekend

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I'm applying for a new credit card this weekend, something I've done plenty of times before. This time is different, though, because I'm applying for my first business credit card.

Why? Two reasons. First, the cards I'm eyeing have sweet welcome offers to earn a bunch of Chase Ultimate Rewards. And two, because I'm eligible to open a business card, even though I don't have what most would consider a small business.

Here's what caught my attention: the *Ink Cash* and the *Ink Unlimited*. bonus_miles_full.. with an easy path to turning that into 75,000 Chase Ultimate Rewards points since I already hold the *chase sapphire preferred*.

That's up considerably from the standard bonus on either card. Best of all, neither card charges an annual fee.

But, I don't take opening a new credit card lightly. Credit cards are serious business. You should never apply for a credit card if you're already in debt, and never charge more to a credit card than you can afford to pay off immediately. And you should also have a good reason to pick up any credit card, no matter how good the offer is.

 

Wait, Can I Even Get a Business Credit Card?

Yes, I can. And honestly, I was kind of surprised to hear that considering I don't own a traditional business.

I am a youth and high school sports coach when I'm not writing flight deals and stories for Thrifty Traveler. That qualifies me as a small business eligible for a business credit card.

Not sure if you're eligible to open business credit cards? Trust us: You might be!

I plan to simply apply as a sole proprietorship and use my own name and social security number to apply for the card just like any personal card application. Then, I'll have to write down the name of my “business,” the amount of revenue I make each year from coaching, and my estimated expenses from coaching.

So long as I'm under Chase's 5/24 rule, which says you cannot have opened five or more credit cards from any bank in the last 24 months, I should be able to pick up this card. And critically, since Chase Ink business cards don't add your 5/24 counts, it seems like a no-brainer.

 

Why Do I Want a Chase Ink Card?

So, why do I want to pick up one of these Chase Ink cards? My reason is very simple: The Park Hyatt Niseko.

 

Park Hyatt Niseko

 

The Park Hyatt Niseko Hanazono is a super luxurious ski-in, ski-out hotel at the world-famous Niseko ski resort in Japan, which is home to some of the best snow on the planet.

I'm kind of obsessed, and with high cash prices during the peak Japan ski season, the 20,000 Chase Ultimate Rewards in my account won't get me even half a night there right now. Since the property is a category 6 hotel based on Hyatt's award chart, that means it has a base rate of 40,000 World of Hyatt points per night.

That could cost as few as 36,000 points per night or as many as 44,000 points per night based on Hyatt's peak and off-peak award pricing they implemented a few years back.

 

Park Hyatt Niseko rates

 

But if I got this bonus from the Chase Ink card, I'd be able to book three nights at 40,000 points a night!

That's because while these cards technically earn cash back, you can turn that cash back into valuable Chase Ultimate Rewards points as long as you hold a card that earns them, including the Chase Sapphire Preferred® Card or *chase sapphire reserve*.

And since Hyatt is a Chase transfer partner, those points can instantly become Hyatt points.

If I'm approved for the card, I'll combine my current small stash of Chase Ultimate Rewards points with the 75,000 more from the Ink cards and then I'll get to booking.

 

Which Chase Ink Card Should I Choose, Though?

There are two offers I'm considering: The Chase Ink Business Cash Card and the Chase Ink Business Unlimited. And it's a tough call.

The Business Cash card offer has some nice spending categories that get you 5x the points on your first $25,000, which makes it appealing.

 

Full Benefits of the Chase Ink Business Cash Credit Card

  • $750 cash back (or 75,000 points) after spending $6,000 in the first three months of card membership.
  • The card has no annual fee
  • 5x points (5% cash back) on internet, cable, and phone service; office supply purchases on your first $25,000 of spending each year.
  • 2x points (2% cash back) on restaurants and gas stations on your first $25,000 of spending each year.
  • 1x points (1% cash back) on all other eligible spending
  • Primary rental car collision and damage waiver coverage
  • Lost luggage insurance of up to $3,000 per person per trip
  • Add employee cards at no additional cost

But, I don't think I'll do enough spending at office supply stores or on phone and internet services to make the bonus on those categories worth it. The brunt of my spending I'd use to hit that $6,000 spending requirement would be in that 1x category on the Ink Cash card.

That's why I think I'm going to apply for the Chase Ink Business Unlimited card. The Ink Unlimited card earns 1.5x points per every dollar spent, which is an amazing benefit for a no-annual-fee card. For me, that's much easier to use.

After spending the required $6,000 in the first three months of card membership, I would end up with 99,000 Chase Ultimate Rewards points since I would be earning 1.5x points for every dollar spent on the $6,000 of spending.

Here's a look at all the benefits of the Chase Ink Business Unlimited card.

 

Full Benefits of the Chase Ink Business Unlimited Credit Card

  • $750 cash back (or 75,000 points) after spending $6,000 in the first three months of card membership.
  • The card has no annual fee
  • 1.5x points (1.5% cash back) on all purchases
  • Primary rental car collision and damage waiver coverage
  • Lost luggage insurance of up to $3,000 per person per trip
  • Add employee cards at no additional cost

 

Bottom Line

I've never applied for a business credit card before, but that's going to change soon. With these Chase Ink card offers set to expire imminently, I have to apply this weekend so I can bank the 75,000 Chase Ultimate Rewards I need to book some nights at a luxury Hyatt hotel on (hopefully) my trip to Japan next year.

I think my sights are set on the Chase Ink Business Unlimited card, but the Chase Ink Business Cash card is also a sweet offer if you can make the spending categories work for you and your business.

 

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

4 Responses

  • You guys have been pushing this one for a couple weeks, so I did the same thing and applied – took a full day, but just got notice that I have been granted the Chase Ink Business Unlimited card. I am somewhat surprised they approved it as my business is pretty small…

    Looking forward to Maui in ‘24 for wife’s 50th birthday! This will take the edge off a little bit…
    Thank you for the heads up!

  • Gunnar – I asked this on another older post before I saw yours. I am in the same boat as you, I have a side gig that earns me money and I claim the income on my personal taxes, but I don’t have a legal business name as requested from the application. What are we supposed to enter for that area? I do have a name I can go by, but it’s not registered. Any insight would be great!

    • Hi Tony, just use the name your business goes by and apply as a sole proprietorship (using your SSN). That should be enough

  • I have a friend with a small side business. If I refer him to a chase business card and he applies as a sole proprietor with not a lot of expenses or income will chase likely request documentation to be approved or do they usually approve automatically online? Does the income and expenses amount make a big difference in an approval or denial if he has a high personal income?

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