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Best Chase Credit Cards
Best for small businesses: Ink Business Unlimited® Credit Card
Who should get it: The Ink Business Unlimited® Credit Card is targeted towards business owners. But, qualifying as a “business owner” is easier than you think. A business on Amazon or eBay or doing freelance work could qualify you.
How to use it: Use the Ink Business Unlimited® Credit Card for non-bonus spending — such as office supplies or for filing your taxes — to maximize your rewards. The card offers you a flat rewards rate of 1.5% on all purchases.
Why you’ll love it: When you consider that the Ink Business Unlimited® Credit Card charges no annual fee, the attractive sign up bonus looks even better.
Things to consider:
- 1.5% flat rewards rate
- No category bonus options
- Foreign transaction fee
Pro tip: Getting a business credit card is a tactful way to separate your business expenses from your personal ones, especially since business expenses are generally tax deductible.
Best for business bonus categories: Ink Business Preferred® Credit Card
Who should get it: The Ink Business Preferred® Credit Card is geared toward small business owners and the different expenses that typically come along with operating those businesses, including travel, shipping expenses and online advertising, among others.
How to use it: The Ink Business Preferred® Credit Card’s 100,000-point sign up bonus (after you spend $15,000 on purchases in the first 3 months from account opening), but you may also be wondering what else the Chase Ink Business Preferred® Credit Card has to offer. The card features a triple bonus rate on specific purchase categories with a very high combined purchase limit of $150,000 annually.
Why you’ll love it: The Ink Business Preferred® Credit Card offers one of the highest sign up bonuses, compared to other Chase credit cards. The card’s combination of benefits make it a fine option for small business owners looking to maximize potential earnings and unlock valuable rewards through the Ultimate Rewards program.
Things to consider:
- Business expenses may not match bonus categories
- No intro APR on purchases
- Annual fee: $95
Pro tip: The Ink Business Preferred® Credit Card comes with several business perks including free employee cards, cell phone protection, primary rental car insurance, trip cancellation insurance and a $0 foreign transaction fee.
Best for rotating cash back: Chase Freedom®
Who should get it: If your everyday spending falls into common household categories, such as gas and groceries, Chase Freedom® is a lucrative card for you. This card is a favorite among savvy shoppers who are willing to put in a little more effort to maximize their cash back.
How to use it: Earn 5% cash back in common categories such as grocery stores, restaurants and gas stations. There’s some hassle involved, including having to opt into the bonus category each quarter and making sure that you’re spending in the correct category for that quarter. If you forget to opt-in each quarter, you’ll be stuck with 1% rewards in the bonus category.
Why you’ll love it: With bonus categories that coincide with common spending categories, this card is a great choice whether you’re a rewards fanatic or just a one-card type of person.
Things to consider:
- 1% base rewards rate
- Required to activate 5% cash back each quarter
- Not ideal for travel
Pro tip: The Chase Freedom® could bring you in an additional $300 a year if you spend in line with the card’s 5% bonus categories and max out your categories each quarter.
Our two cents
JPMorgan Chase Bank has become a powerhouse in the credit card space over the last few years, in an effort to cater to consumers who have a growing desire to earn everyday rewards and benefit from flexible perks.
However, Chase wouldn’t be where it is today without its Ultimate Rewards program, which continues to incentivize people by offering dozens of ways to redeem points and a number of different cards available with varied benefits. JPMorgan Chase takes up roughly 22.3% of market share in credit card sales, compared to 15.9% in 2006, according to its 2018 annual report.
If you’re looking to boost your Ultimate Rewards points, or you’re interested in getting access to new card benefits, it might be worth getting a Chase credit card. Check out the best Chase credit card offers below.
Compare credit card offers from Chase
|Credit Card||Annual Fee||Rewards Rate||Sign-up Bonus|
|Best for credit card sign up bonus: Chase Sapphire Preferred® Card||$95||2x points on travel and dining, 1x base rewards rate||100,000 Ultimate Rewards points after you spend $4,000 on purchases in the first three months.|
|Best for small businesses: Ink Business Unlimited® Credit Card||$0||Unlimited 1.5% cash back on all business purchases||$750 bonus cash back after you spend $7,500 on purchases in the first three months|
|Best for everyday spending: Chase Freedom Unlimited®||$0||Unlimited 1.5% cash back on everything||$200 cash back after you spend $500 on purchases in the first three months|
|Best for business bonus categories: Ink Business Preferred® Credit Card||$95||3x points on first $150,000 spent in specific business bonus categories, 1x base rewards rate||Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,250 toward travel when redeemed through Chase Ultimate Rewards®|
|Best for travel and dining: Chase Sapphire Reserve®||$550||3x points on travel and dining, 1x base rewards rate||60,000 Ultimate Rewards points after you spend $4,000 in the first three months|
|Best for airline rewards: Southwest Rapid Rewards® Plus Credit Card||$69||2x points on Southwest® purchases, 1x base rewards rate||Earn 40,000 points after you spend $1,000 on purchases in the first 3 months. Plus, earn 3X points on dining, including takeout and eligible delivery services, for the first year.|
What’s the best Chase credit card?
There isn’t a one-size-fits-all approach when it comes to Chase credit cards. The best Chase credit card for you depends on your lifestyle and spending habits. Chase credit cards are known for great rewards — including both sign-up bonuses and generous rates on spending — and a fantastic points program. Do you want to earn rewards while traveling? Look into the Chase Sapphire Preferred® Card. Do you love to reap the benefits of rotating rewards? Check out Chase Freedom®. Or maybe you’re a business owner who’s looking to max out earning potential. Consider the Ink Business Preferred® Credit Card.
Should I have more than one Chase credit card?
In theory, there is no limit to the number of Chase cards you can have. However, the relatively vague Chase 5/24 rule requires that you not open more than five credit cards from any bank in a 24-month period. Although it’s not an exact science, you’re more likely to get approved for a Chase credit card if you under the 5/24 rule. Also keep in mind that your credit score, income, debt levels and many other factors are considered in the application process.
What’s the Chase 5/24 rule?
The purpose of the Chase 5/24 rule is to limit customers from opening too many credit cards in a short period of time, particularly aimed at those looking to “game” the rewards system. Information regarding the 5/24 rule is relatively scarce, as Chase has never publicly acknowledged it. However, crowdsourced data suggests that in order to be approved for any Chase card subject to 5/24, you shouldn’t open five or more personal credit cards across any bank in the last 24 months.
Chase Sapphire Preferred® vs. Chase Sapphire Reserve®
The Chase Sapphire Preferred® Card and Chase Sapphire Reserve® remain some of the most sought-after Chase credit cards on the market. But at the end of the day, what makes them different? Here’s a breakdown of each card:
|Card||Chase Sapphire Preferred® Card||Chase Sapphire Reserve®|
|Rewards Rate||2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.||3x points worldwide travel* and dining, 1x base rewards rate|
|Sign up Bonus||100,000, $4,000/3-month spend.||60,000, $4,000/3-month spend|
|Point Value for Travel Redemption, Ultimate Rewards||1.25 cents||1.5 cents|
|Foreign transaction fee||None||None|
|Extra Travel Perks||None||$300 annual travel credit, Global Entry/TSA Pre✓® application fee credit (up to $100)|
|Authorized User Fee||$0||$75|
*3x points on travel immediately after earning your $300 travel credit
Chase Freedom® vs. Chase Freedom Unlimited®
The Chase Freedom® series offers two cash back credit cards, both of which offer no annual fee and have a generous sign up bonus. But, their rewards structures couldn’t be more different. Here’s a breakdown of each card:
|Card||Chase Freedom®||Chase Freedom Unlimited®|
|Sign up Bonus||$200 if you spend $500 in first three months||$200 if you spend $500 in first three months|
|Earnings Rate||5% rotating quarterly categories (up to $1,500 per quarter each quarter you activate)|
1% other purchases
|Earn unlimited 1.5% cash back on all other purchases.|
Which Chase credit card is the easiest to get approved for?
Chase has some of the most desirable cash back and rewards points credit cards on the market with millions of existing cardholders. What that means is that Chase can afford to be more stringent about card approvals, and it typically doesn’t cater to people with fair credit looking to build their credit. But don’t feel discouraged. To get your hands on a Chase credit credit, you’ll need to go the traditional route by building a healthy credit history. Your Chase credit card application could be well on its way to be approved, if you’re able to complete on-time payments with another credit card or two for at least 12 months.
Out of Chase’s wheelhouse of credit card offerings, Chase Freedom® and Chase Freedom Unlimited® tend to accept good credit, whereas Chase Sapphire Reserve® and Chase Sapphire Preferred® Card usually have higher credit standards for approval.
What credit score is needed for Chase credit cards?
Chase credit cards are all intended for consumers with good to excellent credit scores, but there is no specific range. The majority of Chase credit cards require a minimum FICO® Score of 600 and the requirements can go up from there, depending on the credit card. A credit score of 600 is considered fair, according to myFICO the official consumer division of FICO, the company that invented the FICO credit score. A credit score above 700 gives you a fairly strong chance at an approval, as long as you don’t surpass the 5/24 rule.
How to use Chase Ultimate Rewards points
The Chase Ultimate Rewards program is one of the most flexible rewards programs out there. Accumulated points can be transferred to a number of travel partners or redeemed for cash back. The more Chase cards you have, the more you can maximize your Chase Ultimate Rewards points. By having several Chase credit cards, you can either transfer earned points or convert cash back into full-fledged Ultimate Rewards points. How much each Chase Ultimate Rewards point is worth depends on which cards you have and what is purchased with the points — it ranges between 1 to 1.5 cents. Here are four ways to redeem your Chase Ultimate Rewards points:
- Transfer to travel partners: You can pick between 10 airline partners and three hotel programs. You’re required to transfer in 1,000-point increments at a 1:1 ratio.
- Ultimate Rewards travel redemptions: Book travel through the Chase Ultimate Rewards Travel Portal and redeem points to pay for plane tickets, hotel stays or rental cars.
- Cash back: Earn credit on your statement at a flat rate of one cent per point.
- Gifts cards: Redeem points for third-party gift cards, Amazon purchases or Apple purchases
Chase Ultimate Rewards partners
Being strategic in how you take advantage of your Chase Ultimate Rewards points is essential. There are plenty of great ways to earn Ultimate Rewards points, and even better ways to redeem them for flights, hotel stays or gift cards through Amazon, Airbnb and Lowes, among other retailers.
The Chase Ultimate Rewards program currently has 10 airline transfer partners:
- Aer Lingus
- Air France/KLM
- British Airways
- Iberia Plus
- Korean Air
- Singapore Airlines
- Southwest Airlines
- United Airlines
- Virgin Atlantic
One of the reasons Ultimate Rewards points are so valuable is because you can transfer them all these airlines at a 1:1 ratio. Similar to Chase’s airline partners, all points can be transferred to hotel partners at the same exact ratio.
Ultimate Rewards can also be transferred to three hotel rewards programs:
Please Note: Information about the Chase Freedom® have been collected independently by TheSimpleDollar.com. The issuer did not provide the details, nor is it responsible for their accuracy.
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