So your idea for a business was always there. However, so were the challenges of getting loans and finding the investors to fund startup costs. Instead of trying to find that perfect combination, consider chase credit card funding for your business. With this form of financing, you’ll get access to hundreds—if not thousands—of dollars in start-up capital and be able to focus on building your brand while someone else handles everything else. Credit Card is a leading provider of these services with over 400,000 customers across its network who have secured over $325 million since 2013! This will save you time, energy and allow you to start much sooner without the stress or risk associated with debt financing.
Things to consider before you apply for a Chase business credit card
Is your business over $535,000? This is the minimum revenue requirement any business needs to meet before applying. If your company is under that figure, then you’re not eligible for this type of financing. This is because the bank wants to make sure that they can find a way to get the money back should you default on the payment. It also helps protect you from major risks. If your annual revenue doesn’t quite meet the cutoff point, don’t despair—you can still take out a loan or line of credit but it will probably require collateral and be subject to higher interest rates.
Is your business at least six months old?
In order to be eligible for financing, your business needs to be at least six months old. This will give the bank a reasonable length of time to assess the company’s credit history and how well it’s running. The longer the company has existed, the higher its probability of success and more attractive it is to lenders.
Are you looking for a small business card?
The Chase Business Ink Preferred Card is ideal if you want a low APR on your credit card purchases, but you can also apply if you need a card with higher purchase limits.
Do you want to avoid debt financing?
Debt financing is quite costly, and though it’s a viable option for some businesses, it isn’t particularly appealing. If you have the opportunity to build your company with a credit card and avoid taking on debt, then you should take it.
Does your business have the support service in place?
With Credit Card Business Loans, you will be assigned a dedicated account representative who will provide you with one-on-one support throughout the process of securing funding. Your rep will also guide you through each piece of the application and help make sure that everything is taken care of as quickly as possible.
Best Chase Business Credit Cards(2021/2022)
1) Chase Ink Business Preferred Credit Card
The Chase Ink Business Preferred Credit Card is one of the top cards for businesses that want to earn more points toward travel and select upgrades. It offers a $95 annual fee that’s waived the first year, but Chase does make up for it with a 60,000 point sign-up bonus after spending $5,000 in the first three months.
In addition to the sign-up bonus, you’ll also earn 2x points on all purchases—each purchase up to $5,000 in purchases annually. And if you pay the $95 annual fee, you’ll get a 40% bonus on every purchase—including those made in the category! This is really a card that can provide cash back as well as airline and hotel upgrades.
You can also get further value from this card by applying for their Ink Business Preferred World Elite Mastercard® credit card—together, both cards earn 80,000 bonus miles after spending $50,000 in the first three months of having them. This can give you a free round trip business class ticket to anywhere around the globe.
2) Chase Ink Business Unlimited Credit Card
This is another great travel credit card for entrepreneurs who want to earn rewards on everything they buy. While the sign-up bonus is lower at only $500, you will earn 3x points per dollar on any purchase. And all other purchases earn 1x. Maybe that’s why people call it unlimited”—you really will earn more points on everything! Plus, this card has no annual fee, so there are no restrictions for earning credits or redeeming rewards.
3) Chase Business Preferred Credit Card
The Chase Business Preferred Credit Card is great for business owners, who can earn some of the best airline miles in the industry. You will earn 50,000 bonus points after spending $5,000 on purchases each account anniversary year. Plus you’ll also get a $95 annual fee waived for the first year. Then you’ll earn 1 point for every dollar spent on all purchases.
4) Chase Ink Plus Business Credit Card
If you’ve ever had a personal credit card and wanted another one—or if you have some thought of applying as a business—then we highly recommend this version of the Chase Ink Plus Credit Card. That’s because the card comes with a 50,000 point sign-up bonus and the ability to earn another 80,000 bonus points when you spend $50,000 in purchases within three months.
You’ll also earn 5X points on hotel and airline purchases. For example, if you choose to redeem your points for an airfare that costs $300, you will receive 500 points—enough for $50 back on your purchase. Plus you’ll get 2X points for every purchase at business expenses like office supply stores or office services like shipping. And all other purchases will earn 1 point per dollar spent on them. The annual fee is $95 per year but it’s waived the first year.
5) Chase Ink Business Cash Credit Card
The Chase Ink Business Cash Credit Card is an excellent choice for small business owners who make purchases within a certain range of your business. The card comes with a sign-up bonus (after you use it to spend $500) and the first year’s annual fee of $95 is waived. There are also great rewards on office expenses like shipping, office supplies and computers. 5X points for every dollar spent on these categories can really add up fast when you consider that it’s not limited to just one vendor but covers all purchases made in these categories. Plus, this version comes with a bonus of up to $600 depending upon your spending habits.
Rewards can be redeemed on statement credits against your business expenses, a check from Capital One, gift cards from major retailers or airline miles. Plus you’ll earn 2X points for every dollar spent on purchases like office supplies and shipping materials. All other purchases will earn 1 point for each dollar you spend. The annual fee is $95 per year, but it’s waived the first year.