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Chase Business Cash Rewards Card

• Earn up to 5% cash back with unlimited rewards potential.
• With no merchant or category spending restrictions, you can earn points by shopping wherever you want, for whatever you want.
• 0% APR* on purchases and balance transfers for up to 12 months**
• Pay No Annual Fee
• Receive quarterly management reports
• Receive additional cards your employees can use

Issuer : Chase Manhattan Bank

APR : 0%

Introductory Period : 12 months

APR After Introductory Period : 14.24% variable

Cash Advance Rate : 24.24 % variable rate on cash advances

Annual Fee : $0

Credit Line Possible : The maximum credit available is dependent on your credit rating. The minimum is not available for public disclosure.

Insurance included : The Chase Business Cash Rewards Card includes extended car rental and warranty coverage on services and purchases for up to a year.

Financing Configuration – The finance charges applied use the "Two Cycles Average Daily Balance" method, which is a more costly method in applying finance charges for those who occasionally carry a balance as compared to the "Average Daily Balance" method used by most card issuers.

Grace Period – You have twenty days after making a purchase with your Chase Business Cash Rewards Card during which you do not have to pay interest on account.

The Best Thing About It – With no merchant or category spending restrictions, you can earn points by shopping wherever you want, for whatever you want.

The Worst Thing About It - The way the interest on your Chase Chase Business Cash Rewards Card is calculated is more costly than with other cards and the regular APR rate is really high.

Credit Rating Needed For Acceptance : Good.

Who Is It For?

The Chase Business Cash Rewards Card is designed for those with very good credit who are looking to consolidate business related expenses with one credit card and plan to take advantage of the rebate program.

The Benefits

You receive an initial gift of points.  1500 bonus points are gifted after you make your initial purchase with your Chase Business Cash Rewards Card

You can earn up to 5% cashback. There is the potential to earn 1% to 5% cash back rewards just by using the card for every day purchases.

You can earn one dollar for a point on all other purchase.  You can earn 1 point per dollar on every other type of purchase.

Duplicate Chase Business Cash Rewards cards are free. You are not charged for additional cards.

There is no cap on points. Your get to keep the rewards you reap and use them when you want.

You can request expense reports. Expense reports are available on a quarterly basis if you don’t want to keep track of things online.

Keep track of all of your business expenses online. You are also able to monitor what goes on in your Chase Business Cash Rewards Card account with full access to an online account report.  A full expense report can be requested at the end of the year.

You have theft or card loss protection.  Emergency card and cash replacement is part of your credit card agreement.

You have plenty of travel insurance. The Chase Business Cash Rewards Card comes with auto rental insurance, roadside assistance and a car rental damage waiver.

You can benefit from extended warranty protection. If a product fails you have warranty protection up to $300 as long as you apply for this within a year of purchase.

The card has zero liability for fraud.  If you claim someone has stolen your card then you do not have to be liable for the usual $50 that is usually deducted.

The Drawbacks

 

The points system is based on a tiered structure that can seem complicated. Through the rebate program, cardholders receive up to 5% cash back on all their purchases with no limit on the amount of cash rewards that they can earn. However, the earnings are based on the following tiered system: one point per $1 for new net purchases totaling between $0 and $2,000 each billing cycle; five points per $1 for new net purchases totaling over $2,000 and up to $2,500 each billing cycle; and 1.25 points per $1 for new net purchases totaling over $2,500 each billing cycle. Therefore, not all purchases will earn the full 5% rebate. In essence you get five dollars for each point earned.

The Chase Business Cash Rewards Card has a short grace period.  Many credit cards don’t begin to garner interest on purchases until thirty days after purchase. Chase Flexible Rewards Platinum Visa only gives you twenty days.

The introductory rate for the Chase Business Cash Rewards Card is not guaranteed. If you make a late payment on any bill, not just your credit card bill, your introductory 0% rate can be replaced with the costly prime rate. The bank also reserves the right to shorten the term of you introductory period if you do not make a timely or full payment.

No APR is guaranteed with the card : APRs may change to higher APRs, fixed APRs may change to variable APRs, or variable APRs may change to fixed APRs with a month’s notice.

All payments you make to your account will be applied to lower rate balances first. This makes it easy to get into debt.

The introductory rate can be cancelled at the discretion of the Chase Manhattan Bank. You will lose your introductory rate if you exceed your credit limit or are late with a payment or if there is a negative comment on your credit report.

It could be expensive to carry a balance on the Chase Business Cash Rewards Card. The way the interest is calculated it could be a very expensive card if you did not pay it off in total each month.

This card has many hidden fees.  See the Fees to Watch Out For section below.  The fees charged for your every little financial transaction can really add up and make it seem like you are paying an annual fee anyway.

Fees To Watch Out For

Late payment fee : $15 if balance is less than $250; $39 if balance is $250 or more

Over The Limit fee : $39

Cash advance Fee : 3%, $10 minimum

Balance Transfers : 3%. $5 minimum, $75 maximum

To Summarize –

The Chase Business Cash Rewards Card has no annual fee and the rewards program is very flexible and can be used everywhere. This card also provides a 0% introductory rate for the first twelve billing cycles on purchases and balance transfers. However, once the introductory rate expires, the rate soars.  It is best for a consumer who can pay in full each month and not carry a month-to-month balance.

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
0%	12 Months	14.24%	None	Yes	Good Credit