JPMorgan Chase announced Tuesday (Nov. 15) the launch of a new small business card dubbed Chase Ink Business Preferred.
According to Chase, the credit card awards business spenders with three points per dollar on the first $150,000 spent each account anniversary year. The points can be used for travel, shipping purchases, advertising purchases with search engines and social media websites and on other business expenses, such as internet, cable and phone services.
“The way small business owners have to run their business and stay ahead is constantly changing,” said Pam Codispoti, president of Chase Branded Cards, in a press release announcing the new credit card. “We designed Chase Ink Business Preferred with today’s small business owners in mind so they can earn more points in growing categories, like digital advertising, and, in turn, redeem points to help fuel the growth of their business.”
According to Chase, customers of the Chase Ink Business Preferred credit card earn 80,000 bonus points after charging $5,000 in the first three months of having the card, which Chase claims is worth $1,000 when redeemed for travel via the Chase Ultimate Rewards program. Cardmembers also earn unlimited one point per $1 spent on all purchases. With the Chase Ink Business Preferred card, there is a $95 annual fee unless the account is opened at the branch. The branch will waive the fee for the first year.
The move on the part of Chase comes as credit card companies are getting more innovative in terms of their offerings. Earlier this month, Citigroup announced that Citi credit cardmembers now have the ability to dispute charges within its mobile app. In a press release, the company said the new feature was added to its Citi Mobile App for the iPhone in the U.S. The company said the aim of the new feature is to increase peace of mind among its customers and make what can be an emotional process easier and more transparent. Citi said it will roll out the ability for credit card customers to dispute charges posted within the Citi Mobile App for Android later this month.