Chase recently came out with a new business credit card, the Chase Ink Unlimited. It offers a bonus of 50,000 Ultimate Rewards points after spending $3,000 within the first three months. It’s also great for everyday spending, giving you 1.5% back on every purchase. That 1.5% is issued in UR points and that’s huge. When used wisely, especially by transferring the points to hotel and airline programs, you can often get 2 cents per point worth of value. That effectively means you are getting 3% back on every purchase you make. That beats any cash back card out there. There’s also no annual fee. You can apply for the card here.
The one thing I’ve noticed since started this site is that people are reluctant to apply for business cards. I don’t have a business, they say. Hold on. You probably do. A business for purposes of applying for a business credit card can be any sidestream of income. Do you sell items on Amazon or eBay? Do you do any consulting work? Are you an Airbnb host? Do you scalp concert tickets? (Yes, I admit to making a $50 profit on Matchbox Twenty tickets by doing this in 2001.)
Just be honest on the application. If you sell items on eBay and only made $200 last year, put that down in the income section. If your credit score is above a 700, it’s very likely you will be approved.
Now this part is important: when you apply, unless you do have a have a registered business, select sole proprietor where it asks what kind of business you own and then enter your social security number as your tax ID/EIN. Also important: just put your name down as the business. I’ve read some reports of people running into trouble when their business name doesn’t match their real name. So just keep it simple and just put your name down in both sections.
You will very likely not get approved instantly for this card. That’s fine. Just wait a couple weeks and the card will likely wind up in your mailbox. If you do get a rejection letter, don’t fret, often this can just be because Chase wants to speak with you to verify your identity. So if you do get rejected, call their business card reconsideration line at 800-453-9719.
An Easy $200
I just did my taxes for 2019 and by opening up checking accounts for my wife and I, we made $1,700. Yes, you do have to pay taxes on that amount. So say we net $1,500. That’s still pretty damn good for the amount of effort involved. The best part about checking account bonuses is you can usually get the same ones again and again. You often just need to wait a year between applications.
For some bonuses, you need to wait several months for the bonus $ to post after meeting a direct deposit requirement. The best ones, though, take just a few days to post.
My most recent bonus came from KeyBank. It’s a $200 bonus that requires just a single direct deposit of $500 or more within 60 days. My DD hit my account on Jan. 15 and the bonus posted exactly a week later. Find the $200 offer here. The bonus seems to be available in a bunch of states. Put your zip code in to see if you are eligible.
There is one annoying thing about this bonus and that’s a $25 early termination fee if you close the account before 180 days. To keep the account open for that long and avoid a $7 monthly fee, you need $500 a month in direct deposits or 8 total transactions on the account. Personally, I’m leaning toward just closing my account now and walking away with $175.