Ink Business Unlimited vs. Chase Freedom Unlimited
The Chase Freedom Unlimited® and Ink Business Unlimited® credit cards are two lucrative cash back credit cards from Chase. As their name suggests, these cards share many similarities. With cashback, generous welcome bonuses and low introductory APRs, these cards are very comparable.
That said, there are a few big differences that set these cards apart. First and foremost, Ink Business Unlimited is aimed at business owners, while Chase Freedom Unlimited is aimed more at individual consumers. The cards also differ when it comes to welcome bonuses, reward rates, and a few other details.
|Reward rate||1.5% cash back||5% on travel purchased through Chase Ultimate Rewards, 3% on restaurant and drugstore purchases, 1.5% on all other purchases|
|Introduction AVR||0% introductory APR for 12 months||0% intro APR for 15 months|
Highlights of Ink Business Unlimited vs. Chase Freedom Unlimited
If you’re deciding between Ink Business Unlimited and Chase Freedom Unlimited, there are a few key differences you should keep in mind, including the respective welcome bonuses and reward rates for these cards.
Welcome Bonus Winner: Ink Business Unlimited
With a $750 welcome bonus, Ink Business Unlimited is the clear winner. However, it comes with a higher spending requirement: $7,500 in purchases in the first three months. This threshold may not be difficult for businesses with more than $2,500 in monthly expenses, but it may be overkill for smaller operations without as much overhead.
If you are unable to meet the spending requirements for Ink Business Unlimited, Chase Freedom Unlimited has a much more accessible spending threshold. Borrowers are eligible for a welcome bonus of $200 when they spend at least $500 in the first three months.
Rewards Rate Winner: Chase Freedom Unlimited
The Chase Freedom Unlimited card has the advantage when it comes to rewards. Like the Ink Business Unlimited card, it offers a base rate of 1.5% cash back. But unlike Ink Business Unlimited, it also rewards spending in certain categories with higher cash back rates, including 5% back on travel purchases booked through Chase Ultimate Rewards and 3% back on purchases within Chase Ultimate Rewards. restaurants and pharmacies.
Annual Membership Winner: Tie
Neither card charges an annual fee, which means cardholders are still likely to make a profit with this card in their wallet as long as they use the card responsibly, no matter how much or how little they charge. ‘they spend.
Foreign transaction fee winner: tie
Both cards charge a 3% foreign transaction fee. Although these fees may not seem large, they can add up quickly if you make a lot of purchases while traveling abroad. If you frequently travel outside of the United States, you should consider a card with no foreign transaction fees.
Which card pays the most?
Which card pays the most depends on how much you spend, what you buy, and whether or not you qualify for the first year welcome bonus. In general, the Chase Freedom Unlimited card has the benefit of earning potential as it earns boosted rewards in certain categories in addition to 1.5% cash back on general purchases. However, Ink Business Unlimited’s generous welcome bonus may be enough to top Chase Freedom Unlimited’s higher first-year rates.
Chase Freedom Unlimited vs. Ink Business Unlimited expense example
|Travel booked through Chase Ultimate Rewards: $1,000||$50||$15|
|Pharmacy purchases: $2,000||$60||$30|
|Other expenses: $10,000||$150||$150|
|Total without bonus||$410||$270|
|Total with bonus||$610||$1,020|
As shown in the example above, the Chase Freedom Unlimited earns more money regardless of the welcome bonus. However, once you add the welcome bonus to the equation, Ink Business Unlimited is more lucrative overall for the first year. With Chase Freedom Unlimited earning an additional $140 per year in base rewards in the spending example above, it would take just under three years for the card to overtake Ink Business Unlimited in overall revenue.
Why should you get Ink Business Unlimited?
If you’re a small business owner looking for a cash back credit card, Ink Business Unlimited has a lot to offer. With a fixed cashback rate of 1.5% and a generous welcome bonus of $750, this card offers high earning potential without having to watch spending categories.
Although the card is only available to people who have their own business, this definition is quite broad and can include freelance hustle and gigs.
In addition to the above benefits, this card also comes with some nice perks. These include free employee cards, fraud protection, purchase protection, and personalized account alerts. Ink Business Unlimited also includes travel benefits like travel and emergency services, collision damage waiver for car rental and curbside shipping.
There are several ways to redeem rewards with this card. The easiest option is cash back, available as a statement credit or as a cash deposit to your bank account. Other redemption options include purchasing gift cards, booking travel through Chase Ultimate Rewards, and purchasing items from the Apple Ultimate Rewards store.
Recommended credit score
To qualify for the Ink Business Unlimited card, you must have good to excellent credit. In most cases, lenders will refer to your personal and business credit when reviewing your business credit card application.
Why should you get the Chase Freedom Unlimited?
The Chase Freedom Unlimited is worth it for consumers looking for a simple cash back credit card with no annual fee and high rewards rates. The base 1.5% cash back rate is solid, and the extra cash back rewards for spending categories like travel, dining, and drugstore purchases are a great bonus.
This card comes with a modest $200 welcome bonus, which may not compare as favorably to other cards with more generous offers. But with no annual fee and an introductory APR of 0% for the first 15 months, budget borrowers looking to earn some extra cash will love the Chase Freedom Unlimited.
In addition to the above benefits, the Chase Freedom Unlimited comes with various other benefits and features. These include the free Chase Pay Yourself Back program, three months of DashPass, fraud protection, and zero liability protection.
The easiest way to redeem rewards with Chase Freedom Unlimited is to make cash back in the form of statement credit or direct deposit. Other redemption options include shopping with points on Amazon, buying gift cards, and booking travel with Chase Ultimate Rewards.
Recommended credit score
Those with good to excellent credit are most likely to be accepted for this card.
The bottom line
Both Chase Freedom Unlimited and Ink Business Unlimited are solid cash back cards with nice welcome bonuses, rewards rates, and no annual fees. The most important difference between the two cards is that Ink Business Unlimited is for business owners. This not only covers those who are completely self-employed or entrepreneurs, but also anyone who has a side business or self-employment. In general, it’s a good idea to keep your business and personal finances separate, so you shouldn’t use a Chase business credit card like Ink Business Unlimited to fund personal expenses.
The Chase Freedom Unlimited has many of the same features as the Ink Business Unlimited, but is geared towards consumers rather than business owners. While it comes with a smaller welcome bonus, it also has higher rewards rates in certain spending categories, including travel, dining, and drugstore purchases. Which card is right for you ultimately depends on whether or not you run a business, your spending habits, and how you plan to use the card.