Chase Launches Credit Card Aimed at Construction Contractors
By Justin McHenry
Chase is targeting a specific niche with its latest small business credit card, launching the Chase Contractor Cash Rewards Visa Signature Card this week. In addition to offering 2% cash back on up to $20,000 of construction-related purchases per month (and 1% on any other purchases), the card has no pre-set spending limit and offers 0% financing for 60 days on construction-related purchases of over $1,000.
Chase believes this combination of flexible spending limits, same-as-cash purchases and competitve rewards will be enticing enough to get contractors to pay invoices with a credit card instead of through other check writing.
Chase calls the Contractor card the first in a series of small business card launches seeking to shift invoice-paying to credit cards, leading to the assumption that Chase will continue to target specific small business types and craft cards that are attractive to those particular customers.
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1.Discover® More Card - 0% APR on balance transfers for 12 months & 6 months on purchases, 5% cashback bonus in popular categories, up to 1% cashback bonus on all other purchases
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2.Chase Freedom Card - 0% Intro APR and no Annual Fee, 5% bonus cash back in popular categories , 1% cash bank on everything else
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3.Citi® Platinum Select® MasterCard® - 0% on purchases & balance transfers for Up to 18 months, APR as low as 9.99% variable. $30 statement credit.
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4.Blue Cash® from American Express - Earn up to 5% cash back on gas, groceries and drug store purchases, and up to 1.5% back on all other purchases, no annual fee, fast approval under 60 seconds
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6.American Express® Gold Card - 10,000 American Express Membership Rewards bonus points when you use the card for at least $500 in purchases within the first 3 months.
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7.TrueEarnings® Business Card from Costco & American Express - 4% cash back for annual gas purchases up to $6,000, 3% restaurants, 2% travel, 1% everywhere else, 0% APR on purchases for first 6 months
