Earn up to $1,250 in sign-up bonuses when opening a credit card with Chase.
December 2, 2020 3 min read
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.
If you’re just starting a business, you’ll likely need significant upfront capital to pay for things like a physical space, an online store, licenses, and inventory, plus you’ll need to take out insurance and hire employees. It’s a lot to consider before you even make your first dollar.
The costs could vary from a few hundred dollars to get your website up and running to millions of dollars if you’re starting a big operation. And your expenses could end up being more than you think. For example, the median cost just to open a restaurant is $275,000, or $3,046 per seat.
Since the costs can be high, you’ll need to take free money wherever you can get it. That’s why it’s a good idea to sign up for credit cards with sign-up bonuses. All you have to do is spend the money you’re going to anyway. Then, you could take the bonus and either repay yourself or put it back into your business.
If you’re on the hunt for a solid sign-up bonus, here are five of the best to consider from Chase.
Chase Freedom Unlimited®: With the Chase Freedom Unlimited card, you will earn $200 after spending $500 in the first three months of account opening. Additionally, you could earn 5 percent cash back on grocery store purchases on up to $12,000 in the first year of owning the card. Another helpful feature is that this card offers 0 percent intro APR for the first 15 months, which will give you time to pay back what you spent on your business without going into more debt.
Ink Business Preferred® credit card: If you plan to spend significantly in the first few months, it’s worth opting for this card. The Chase Ink Business Preferred credit card sign-up includes 100,000 bonus points when you spend $15,000 on purchases in the first three months of opening your account. If you need to travel for work, you can use those points for $1,250 worth of travel through the Chase Ultimate Rewards®. Additionally, you won’t pay any foreign transaction fees once you get to your destination overseas.
Ink Business Cash® credit card: The Chase Ink Business Cash credit card offers you a $750 bonus cash back after you spend $7,500 in the first three months after you open your account. This card also provides specific benefits to business owners, such as 5 percent cash back on the first $25,000 spent in combined purchases at office supply stores and on cable, phone, and internet services every account anniversary year.
Ink Business Unlimited® credit card: The Chase Ink Business Unlimited® credit card offers a $750 cash back bonus for spending $7,500 on purchases in the first three months after account opening. You’ll also snag 0 percent intro APR for 12 months from account opening and earn unlimited 1.5 percent cash back on every purchase you make for your business.
When using your business credit card, make sure you follow the standard procedures like you would for your own credit card. Pay the bill on time, don’t spend more than you’re making, and be aware of interest rates, especially after a 0 percent APR intro period is over. Then, you’ll get the most of your card and contribute to your new business’ success at the same time.
Source: Entrepreneur News Colony | Business News