Chase Ink Plus Business Card Review: Worth $95 Annual Fee?

5/7/2013 Update: We're sorry, Ink Plus® Business Card is no longer available on CreditDonkey. This offer may have been discontinued or may no longer be available to new applicants.

Reward Program

Every time you make a purchase using the Chase Ink Plus Business card, you earn reward points. You earn 1 point for every $1 you spend on most purchases. There is no annual limit to the number of points you can earn. In addition, you earn bonus points in certain categories.

You earn 5 points for every $1 spent at office supply stores and on phone, internet and cable TV expenses. You also earn 2 points for every $1 spent at gas stations and hotel accommodations (when purchased directly from the hotel). The bonus rate applies to your first $50,000 worth of purchases in each category. If you spend more, you earn the regular 1 point per $1 rate until the next year.

You can convert your points into a variety of rewards. You can also turn your points into cash. For every 100 points you earn, you get $1 in cash back.

This bonus program applies to your card as well as to any cards held by your employees. There is no fee to add extra cards to your account so you can get everyone in your business earning rewards.

Signup Bonus

When you first sign up for the Chase Ink Plus Business Card, you are eligible for a generous bonus. If you spend $5,000 on your card within its first 3 months, you receive 50,000 bonus points. These 50,000 extra points are good for $500 in extra cash back -- a nice welcome from Chase.

In addition, the Ink Plus Card waives the annual fee for the first year so you get all these benefits without the burden of the $95 annual fee.

Travel Benefits

The Chase Ink Plus Business Card offers a couple other nice benefits for frequent travelers. This card does not charge foreign transaction fees. If you go outside the country, most credit cards charge an extra 3% fee on your purchases. You don’t have to worry about that with the Chase Ink Plus Card.

In addition, this card lets you move your points into other travel reward programs. You can directly transfer your points to several frequent flier and hotel rewards programs including United, British Airways, Hyatt, and Marriott. You can use your Chase points for the best possible travel deal.

Pros

• Earns rewards points on all purchases. Earns bonus points on a variety of business and travel expenses.
  
• Converts points into travel rewards or cash back. Allows you move your points to other travel reward programs.
  
• 50,000 bonus points after you spend $5,000 in 3 months from account opening.
  
• Waives the annual fee for the first year.

Cons

• Charges an annual fee of $95.
  
• No introductory APR
  
• Limits the bonus rate to the first $50,000 of purchases in each category.

Bottom Line

This is a great business rewards card that easily pays for itself. Just the introductory bonus is enough to help pay for the annual fee for 5 years. When you combine that with the generous rewards program, the Chase Ink Plus Business Card is a fantastic deal.