Chase Business Credit Card Offers

Chase Business Credit Cards: The Responsible and Logical Choice For Small Businesses

American banks have cut back on lending to small businesses since the banking crisis of 2008. Despite government efforts to get banks lending again, small business financing credit is still hard to come-by. Thankfully, JP Morgan Chase Bank has released a new line of business credit cards that feature great rewards, favorable interest rates and the backing of America's #1 credit card issuer.

For decades, Chase Bank has been a driving force in the banking industry. Headquartered in Chicago, Illinois Chase Bank is a subsidiary of JPMorgan Chase which is one of the oldest financial services companies in the United States. When Chase acquired Bank One in 2004 they subsequently became the largest credit card issuer in the United States. It is this sort of strong history and impressive presence that small business owners tend to look for when deciding where to do their banking. Further, even in light of the recent banking debacle, MSN Money recently reported that JPMorgan Chase emerged from the crisis stronger than ever and dedicated to continuing to build their business. A commitment to small business owners is a key component of Chase Bank's larger business plan as evidenced by the many banking options they offer to those with dreams of becoming a successful entrepreneur.

The challenges of new small business owners are varied and numerous. Even with recent federal assistance programs such as the Small Business Lending Fund Act of 2010 which recently passed through the House (and is now awaiting vote in in the Senate), making a go of it in the midst of today’s dicey economic climate is tough. To top it off, banks that have been recently burned by personal bankruptcies, high foreclosure rates and faltering new investments are hesitant to offer credit to businesses that are not yet soundly established.

Formerly known as the Flexible Rewards program, Chase Bank established the Ink from Chase credit card specifically for their business clientele in 2009. Within this program Chase Bank offers five distinct credit cards to choose from including Ink, Ink Bold, Ink Plus, Ink Exclusives and Ink Cash. The varying programs are designed to address an assortment of credit card needs for Chase business customers. In an effort to accommodate the tight budgets typical of small business owners, only Ink Bold and Ink Plus require an annual fee. To further entice customers, the annual fee for those two cards is waived for the first year. The Ink Bold card is the only one that has not only a flexible spending limit, but also requires that the card be paid off in full each month. The other Ink cards offer their own perks such as double rewards points for the Ink Exclusives card, $100,000 travel accident insurance for Ink Plus customers and flexible payments terms for the Ink Cash credit cards.

Should the small business begin to thrive and the owner requires additional credit cards for new employees, Ink cards allow the primary cardholder to add additional parties to the account. Chase Bank can also establish set spending limits for each employee listed on the account and those amounts can vary per employee. Furthermore, like many other credit cards currently being issued by other lenders there are rewards programs tied to the use of these credit cards. This can range from cash back to gift cards to travel discounts. Again, this can be a welcome benefit to a small business owner struggling to make ends meet.

Chase Bank issues more credit cards than any other credit card bank in the United States. This is significant considering that according to a Nilson Report dated February 2010 more than 576 million credit cards are currently in circulation. At 119 million, Chase Bank easily has a very significant portion of that credit card pie. Citi, the second most popular credit card issuer, trails quite a bit behind, at 92 millions cardholders.

Chase Bank is also fully committed to fraud detection and prevention for their corporate clients. Per the 2008 Association for Financial Professionals Payments Fraud and Control Survey, 71 percent of businesses experience actual or attempted financial fraud. 13% of these instances relate to corporate credit card usage, which is why Chase Bank’s robust fraud unit is all the more imperative for the protection of their business customers.

While total credit card issuance is predicted to fall over the next few years due to a general downturn in the financial market, Chase Bank is expected to hold their own during these troubled times. The reason for this success includes a dedication to customer service, providing a variety of services to all of their clients, successfully tapping into banking market trends and nurturing their relationships with small business owners.

According to a 2008 National Small Business Association survey credit cards are the most common source of financing for new small business startups. This can be ill advised if the credit card in question has a high interest rate, which will only result in the small business owner having additional and increasing financial liabilities. In the case of the Chase Ink cards, the annual interest rate is in the 9% to 15% range depending on the credit worthiness of the cardholder. While this is never the preferred way to fund a new business or support it in it’s infancy stage, the rate is moderate compared to many other card issuers. Additionally, as the business matures and establishes a more favorable credit rating Chase Bank is more than willing to discuss a reduction in the annual interest rate for their Ink customers. A zero percent introductory annual percentage rate is also offered with most of the Ink cards, which is a nice benefit for any struggling new business.

Establishing a good credit rating is critical to new small businesses and a credit card that is used responsibly is a big step in that direction. The Chase Bank Ink program offers a variety of programs to fit the needs of any small business. Working with Chase business cards can help to establish a nascent business as a responsible, thriving, upwardly mobile and fiscally accountable entity. For any new business, maintaining complete and thorough financial responsibility during the early stages of a business is key. Once a small business owner has effectively managed their Chase Bank business credit card, they can move on to larger volumes of capital investment, such as a private small business loan or a small business financial assistance grant from the federal government. Small business owners can log onto http://www.sba.gov/financialassistance/ in order to find an assistance program that will suit their needs.

Starting a new business and being your own boss is certainly the American dream for many folks. Doing so with the assistance of a Chase Bank Ink card will help to solidly establish your business and allow it to blossom for decades to come.