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Chase sent out a Secure Message to business cardholders this week announcing new features coming to Chase business cards on December 9, 2018. While many of these changes are incremental improvements, Chase business cardholders that have been keeping track of expenses through Chase’s website will need to act before the change goes into effect in order to save their data.
The most notable improvement is that Chase business cardholders will soon be able to “clearly see purchases associated with specific cards on your account.” This is an overdue improvement which should help businesses with multiple authorized users more easily keep track of expenses.
In addition, Chase will allow memos up to 200 characters long and will be adding new expense categories “that are more aligned to businesses.” Indeed, the current list of categories on my Chase business card includes categories like “Family Expense,” “Home Repair” and “Pet Care,” which aren’t typical business expense categories.
For example, here’s a selection of the current expense options on my Chase Ink Business Cash Credit Card:
Here’s the full list of announced improvements:
- Ability to view pending transaction status.
- Ability to clearly see purchases associated with specific cards on your account (last 4 digits of card shown on each transaction).
- Ability to choose from expense categories that are more aligned to businesses.
- Ability to add a longer memo to your transaction details (up to 200 characters).
- Option to filter and view transactions for the last 24 months of statements.
- Ability to download Quarterly Reports with the new expense categories.
- Ability to use the new Spend Report that features year-end summary and year-to-date filters with expense categories.
Here’s the full secure message that I received this week, which, strangely, Chase seems to be sending to personal cards account logins instead of business card account logins:
The one piece of action that business cardholders need to complete in the next three weeks is downloading current “memos and expense categories” before the changes take effect on December 9, 2018. It’s unclear how this change will be handled, but it seems possible that all existing memos and expense categories may be wiped. This would be especially problematic for business cardholders that have dutifully been keeping track of expenses through their online account.
Katie and I received this enhancement notification for our Ink Business Cash and Southwest Rapid Rewards Premier Business credit cards. However, it’s likely that all Chase business cards are going to be transitioned — including popular cards like the Ink Business Preferred℠ Credit Card, Ink Business Unlimited℠ Credit Card and co-branded cards such as the United MileagePlus Explorer Business Card.
The Points Guy Appraisal:
The Ink Business Preferred Credit Card launched in October 2016 and it quickly became one of the most popular business credit cards on the market. It has a strong sign up bonus, triple point categories and unique perks. This card earns a respectable 3 points per dollar on the first $150,000 in combined spending on travel; shipping purchases; internet, cable and phone services; and advertising purchases made with social media sites and search engines.
- Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
- Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
- Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
- No foreign transaction fees
- Employee cards at no additional cost
- $95 Annual Fee