Chase announced news on Tuesday (May 22) that it is launching Ink Business Unlimited, a new credit card geared toward small business owners that gives them unlimited 1.5 percent cash back on purchases.
In a press release, Chase said Chase Ink Business Unlimited rewards business owners on every purchase without requiring them to make purchases in special categories. The credit card has no annual fees and no minimum balance to redeem rewards. Customers also get $500 bonus cash back once they spend $3,000 on purchases in the first three months the credit card account is opened.
“Small business owners today are hyper-focused on growing their business and eliminating distractions. We are providing a tool that helps manage cash flow and expenses in a straightforward way that matches their working style,” Catherine Hogan, president of Chase Branded Cards, said in the press release.
The company was inspired to launch the new credit card after conversations with hundreds of business owners who said they wanted to simplify where they could to boost productivity and efficiency and grow their businesses. In fact, one in four small business owners cited increasing productivity as one of their top three business challenges.
To help small businesses, Chase Ink Business Unlimited is teaming up with skateboarding legend Tony Hawk during a May 30 “Get Productive with Tony Hawk” Facebook live stream from New York.
“When I reflect on my professional skateboarding and business accomplishments, none of it would be possible without a focused commitment to productivity. It’s why I am so excited to share my experience with other small business owners,” Hawk said in the same press release.
With the new credit card, Chase said its Ink portfolio is rounded out. The national bank also has the Ink Business Preferred and Ink Business Cash credit cards geared toward small businesses.