Chase Business Cash Reward Card: The Benefits For Small Business Owners

Business owners know that the need to access finances fast at crucial times can be the difference between securing a great deal and losing out. Therefore, a credit card from a reliable financial institution is a necessity. But like everyone else, business owners want benefits too, which is why the Chase Business Cash Rewards Card is so popular.Business owners use their credit cards more frequently, and usually more responsibly, than general consumers. So, for card issuers, they are an ideal customer to have. Little wonder that the rewards for business cardholders can be so significant, and why Chase offers a card that provides cash rewards on all purchases.But how can a business owner qualify for the card, and how precisely can a cardholder benefit from having it? As with all Chase credit cards, applying is made easy and approval can be fast. But there is a host of details that need to be considered too.How To QualifyAs with all credit cards, qualifying for a Chase Business Cash Rewards Card is based heavily on the credit rating of the applicant. With most cards, having an average score of around 600 is enough, but in this case, it is essential that the applicant has an excellent credit rating.Usually, a FICO score of 764 is needed to qualify, though applicants with scores of more than 700 can feel confident that they can be approved. An applicant must also forward financial data relating to their business when seeking a credit limit above $25,000, and does not offer additional rewards for business cardholders with higher limits.And while this Chase credit card can only be issued to applicants over the age of 18 (as is usual), there must also be assurances given that the card will be used for business, and not personal, purposes. Also, a Federal Tax ID must be provided, as well as a permanent address.Benefits on OfferSo what are the benefits to be enjoyed from the Chase Business Cash Rewards Card? Well, the whole idea is that the card covers business related expenses. Its introductory offer of 0% APR for the first 6 months, and no annual fee, help to make it highly affordable. But once the introductory offer ends, the interest charged is higher than the average on both purchases and balance transfers.And yet, the rewards for business cardholders are extremely good, with cardholders earning 5% cash back on most purchases. The system is based on points, with one point for each $1 spent on purchases up to $2,000 each month, and 5 points per $1 spent between $2,000 and $2,500 each month. For each $1 spent above $2,500, 1.25 points are earned. And once 5,000 points are accrued, this Chase credit card offers a cash back of $50.Additional Card BenefitsBut there are further benefits available from a Chase Business Cash Rewards Card for cardholders to enjoy. It comes with a purchase protection plan and insurance coverage to those who are travelling and those who avail of any car rental services. And in those times of emergencies, it offers a cash replacement scheme and access to a range of emergency services.And, to cater to the demands of a small business with multiple officers, it is possible to get additional cards for other nominated employees, thus enhancing access to the rewards for business cardholders.However, always remember that taking maximum advantage of the full range of privileges is dependent on repaying the balance on time each month. That way, your Chase credit card can be a useful tool, and not become an eventual debt trap.