Reader Question: Am I Eligible To Apply For Business Credit Cards?

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Let’s be candid…credit cards points can be a challenging subject to understand (at first).

  • Which card is the “best” card?
  • Which card do I apply for?
  • How am I going to meet the minimum spend?
  • How do I “cash in” these points?
  • Where should I go on vacation?

Don’t worry, you’re not alone. These are great questions that all of us struggle with. Even after years of experience, you’ll find yourself still asking these questions.

READER QUESTION

I received a message recently that said:

In your post Chase Ultimate Rewards Guide; Transfer Partners & How To Transfer Points, I noticed that the Chase Ink Preferred Card had a welcome bonus of 80,000 points. That sounds like a lot of points. The card also has many categories that I spend a lot of money in. Am I eligible to apply for business credit cards?

MY RESPONSE

This is a great question! Having business credit cards can be a great way to boost your points balance. Over the last few years we’ve seen significant improvement in the welcome bonuses, unique bonus categories, and business cards perks.

Understandably, people question whether they are eligible for business cards. Often, the assumption is that you can only apply for a business card if you have an established business that has many years under its belt and has significant revenue, but that’s a myth.

In my post, I highlighted two cards that I think are the most compelling business card welcome bonuses right now:

Ink Business Preferred Credit Card – This card has a whopping 80,000 point welcome bonus after you spend $5,000 on purchases in the first 3 months after account opening.
This is my #1 recommendation for a business card, the benefits are phenomenal, and I consider this to be the best welcome bonus available on any card at the moment. It also has an AWESOME cell phone protection plan that I just happened to use this past week (blog coming soon).
Ink Business Cash Credit Card – You will earn a $500 cash back (or 50,000 points in conjunction with other cards) welcome bonus on this card after you spend $3,000 on purchases in the first 3 months after account opening. This is one of the best no-annual-fee business cards on the market!!

Not only does the Ink Business Cash Credit Card have a great welcome bonus, but it’s worth holding onto long term, given that it offers excellent bonus categories, including:

  • 5x points on the first $25,000 of combined purchases per account anniversary year at office supply stores, and on internet, cable, and phone services
  • 2x points on the first $25,000 of combined purchases per account anniversary year at restaurants and gas stations

Given that you’re reading this on your computer or on your phone, you could be earning 5x points for paying your internet bill and cell phone with this card. For a no annual fee card, that’s AMAZING!

…AND YES, YOU CAN!

I already know what your next question is going to be…can I get both?

With the big welcome bonus on the Ink Business Preferred Credit Card, as well as the best ever welcome bonus on the Ink Business Cash Credit Card, you can’t go wrong with picking up either or both of those cards.

Those two cards alone will net you 140,000 Chase Ultimate Rewards points.

Pro-Tip: Chase has an unwritten rule that you can only apply for one (1) business card every 30 days. For more information on bank “rules” [READ THIS].

FINAL STAMP

I wanted to share my response in hopes of others being inspired to jump into the world of business cards as well.

Assuming you have a small business (even if it’s not incorporated, and you’re just selling stuff online as a side hustle), you’re really missing out on half the value you can get out of credit card points if you’re only getting personal cards.

If you want to try your first business card application, there’s also very limited downside to applying. Although there are some exceptions, business card applications are not reported to your personal report, so there’s likely going to be no impact on your credit score at all (but worst case scenario your score would temporarily be pinged a couple of points for the inquiry). That’s not a big deal.

Has anyone applied for a business card for the first time recently? What was your experience?

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