Ink Business Unlimited℠ Credit Card Review (2020.11 Update: 75k Best Ever Offer!)

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2020.11 Update: The offer is now 75k, and it is the best ever offer on this card.

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Benefits

1. 75k offer: earn 75,000 Ultimate Rewards (UR) points after spending $7,500 within the first 3 months of card membership. This is the best offer on this card.
2. Earn 1.5x UR on everything, no cap!
3. Although this card is advertised as a cash back card, it actually earns UR points. We estimate that Ultimate Rewards (UR) points are worth about 1.6 cents/point, see below for a brief introduction. So the 75k sign-up bonus could be worth about $1,200!
4. Purchase Protection – Covers your new purchases for up to 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
5. Primary car rental insurance. HOWEVER, unless you can prove that you are traveling on business (which you will be required to do in the case of a claim), you will be better using the primary car rental insurance on the Chase Sapphire Preferred or the Chase Sapphire Reserve.
6. [Limited Time] Earn 5x UR points on Lyft, until 2022.03.31. Here is the official link for this promotion.
7. [New] Refer a friend: You can earn 15,000 bonus UR points for every approved account you refer, up to a maximum of 75,000 UR points per calendar year.
8. No annual fee.

Disadvantages

1. It has foreign transaction fee, so it’s not a good choice outside the US.

Introduction to UR Points

• You can earn UR points with Chase Freedom Student, Chase Freedom, Chase Freedom Unlimited (CFU), Chase Sapphire Preferred (CSP), Chase Sapphire Reserve (CSR), Chase Ink Cash (Business), Chase Ink Unlimited (Business), Chase Ink Preferred (Business), etc.
• You can move your UR points from one UR card to another at any time.
• UR points never expire. You will lose the UR points on one card if you close the account, but you can prevent losing your UR points by moving the points to another UR card beforehand.
• If you have Chase Sapphire Preferred (CSP), Chase Sapphire Reserve (CSR), or Chase Ink Preferred (Business), UR points can be transferred to some hotel points. One of the best way to use UR points is to 1:1 transfer to Hyatt points. UR points can also be transferred to some airline miles. One of the most common and best way to use UR points is to 1:1 transfer them to United Airlines (UA) miles (Star Alliance), and combine them with the UA miles earned from the UA card. Other good options are: Southwest (WN) (Non-alliance), British Airways (BA) (Oneworld), Virgin Atlantic (VS) (Non-alliance), etc. If you use UR points in this way, the value is about 1.6 cents/point.
• If you have Chase Sapphire Reserve (CSR), you can redeem your UR points at a fixed rate 1.5 cents/point towards air tickets or hotels on UR travel portal; if you have Chase Sapphire Preferred (CSP) or Chase Ink Preferred (Business), you can redeem your UR at a fixed rate 1.25 cents/point towards air tickets or hotels on UR travel portal.
• If you have any of the UR cards, you can redeem your UR points at a fixed rate 1 cent/point towards cash.
• In summary, we estimate that UR points are worth about 1.6 cents/point.
• For more information about UR points, see Maximize the Credit Card Points Values (overview), and Introduction to UR: How to Earn and Introduction to UR: How to Use (very detailed).

Recommended Application Time

1. [5/24 Rule] If you have 5 or more new accounts opened in the past 24 months, Chase will not approve your application on this card, no matter how high your credit score is. The number of new accounts includes all credit card accounts, not only Chase accounts. See this post for details about how to possibly bypass this rule.
2. You are not eligible for this sign-up bonus if you received a sign-up bonus on this card within 24 months. Note that what this 24-month clock starts from when you last got the sign-up bonus, not the time you open the account or close the account. [Correction] There is no such rule for Chase Ink series!
3. Don’t apply for more than 1 Chase business credit cards within 30 days, it’s highly likely that you will get rejected.
4. We recommend that you apply for this card after you have had a credit history for more than a year.

Summary

If you do a lot business spend, then I’d recommend you sign-up for this card. 1.5x UR seems not attractive at first, but no cap on earning allows it to surpass other Ink cards which do have bonus categories subject to annual caps, when you can run a huge amount of purchase on your business. Just keep in mind this card is under 5/24 rule before applying.

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