The Chase Ink Business Cash® Credit Card is a standout choice for small business owners looking to earn lucrative cash back rewards on common expenses like office supplies, internet and phone services, gas, and dining all without paying an annual fee. In this comprehensive review, we’ll dive deep into the card’s rewards structure, benefits, drawbacks, and how it stacks up against other leading business credit cards.
Ink Business Cash® Credit Card: Earning Rewards Made Simple
One of the primary advantages of the Ink Business Cash® Credit Card is its straightforward yet highly rewarding system for earning cash back on your business purchases:
Earning Cash Back with the Ink Business Cash®
- 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
- 1% cash back on all other purchases with no limit
This makes the Ink Business Cash® an excellent choice for businesses with significant expenses in those 5% and 2% categories. According to a study by Fundera, the average small business spends around $60,000 per year on operating expenses like utilities, office supplies, gas, and business meals. By maximizing the Ink Business Cash®’s bonus categories, your business could earn up to $1,750 cash back annually on such purchases.
What’s more, the cash back you earn comes in the form of Chase Ultimate Rewards® points, which provide flexible redemption options beyond just statement credits. You can redeem points for:
- Cash back (1 cent per point value)
- Gift cards
- Travel booked through Chase (1 cent per point value)
- Purchases made with PayPal or at Amazon.com (0.8 cents per point value)
- Products or services made through Chase (variable point values based on the item)
New Cardholder Bonus Offer
Chase sweetens the deal for new Ink Business Cash® cardholders with a lucrative bonus offer:
Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
This bonus alone could offset a significant portion of your first-year business expenses when paired with the Ink Cash’s ongoing rewards earning potential.
READ ALSO: The Ultimate Guide to the Best Business Gas Cards in 2024
Additional Benefits of the Ink Business Cash Credit Card
While the rewards program is certainly the Ink Business Cash®’s marquee feature, the card provides several other noteworthy benefits:
0% Introductory APR
The Ink Business Cash® offers a 0% Intro APR on Purchases for 12 months, followed by a variable APR of 18.49% – 24.49% after the intro period. For businesses facing a major upfront expense or looking to finance inventory purchases interest-free, this intro APR promotion can provide valuable breathing room.
Employee Cards at No Additional Cost
Business owners can add employee cards to their Ink Business Cash® account at no extra cost, allowing you to earn rewards from your employees’ business spending while gaining better oversight and control over those expenses.
Travel Protections
Receive benefits like auto rental collision damage coverage, roadside dispatch, travel and emergency assistance when traveling for business.
Purchase Protections
Eligible new purchases are covered by extended warranty protection (extending U.S. manufacturer’s warranties of 3 years or less by 1 additional year), purchase protection against theft or damage, and return protection on eligible items that the store won’t take back within 90 days of purchase.
When the Ink Business Cash® May Not Be the Best Fit
As compelling as the Ink Business Cash® appears, it’s not necessarily the ideal business credit card for every situation. Here are some potential drawbacks to consider:
Caps on Bonus Category Earnings
While the bonus cash back rates are excellent, they only apply to the first $25,000 in combined purchases each anniversary year within the 5% and 2% categories. For businesses that exceed this threshold, rewards earned beyond that point drop to just 1% back. High annual spenders may be better served by a card with uncapped bonus categories or a higher flat-rate cash back earnings structure.
Foreign Transaction Fees
The Ink Business Cash® charges a 3% foreign transaction fee, making it less than optimal for international business spending. Some travel business credit cards waive foreign transaction fees entirely, making them more cost-effective options for frequent globe-trotters.
Limited Travel Benefits
Aside from the travel protections mentioned above, the Ink Business Cash® doesn’t provide much in the way of travel-centric perks like annual travel credits, airport lounge access, etc. Frequent business travelers looking to offset travel costs and make trips more comfortable may want to consider Chase’s travel business credit cards or offerings from premium business travel credit cards.
How the Ink Business Cash® Stacks Up Against the Competition
While the Ink Business Cash® is undoubtedly a strong no-annual-fee cash back business credit card, it faces stiff competition from other leading options on the market. Here’s a quick comparison of how it holds up against a few top rivals:
Vs. American Express Blue Business Cash™ Card
The Blue Business Cash™ Card from American Express earns 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. While the bonus rate isn’t quite as high as what the Ink Business Cash® offers, the lack of spending caps or bonus categories may better suit low-maintenance business owners. Keep in mind that the Blue Business Cash™ Card has a 0% intro APR on purchases for 12 months, then a 18.49% – 26.49% variable APR applies. Terms apply.
Vs. Capital One Spark Cash Plus
The Capital One Spark Cash Plus card has an annual fee of $150, but also has more premium rewards and benefits like unlimited 2% cash back on all purchases, no foreign transaction fees, up to a $1,000 cash bonus when meeting minimum spend requirements, and 5% cash back on hotels and rental cars booked through Capital One Travel. For high spenders looking to maximize cash back without caps or bonus categories, the Spark Cash Plus could be worth the annual cost.
Vs. Chase Ink Business Preferred® Credit Card
By paying a reasonable $95 annual fee, the premium Ink Business Preferred® unlocks additional rewards and benefits. You’ll earn 3 points per $1 on the first $150,000 spent each anniversary year in categories like travel, shipping, internet/cable/phone services, and advertising purchases with social media and search engines.
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Conclusion: A Versatile Cash Back Card for Small Business Owners
Boasting a lucrative cash back program tailored to common business expenses, a solid intro APR promotion, and benefits that can come in handy for any small business, the Chase Ink Business Cash® Credit Card is undoubtedly one of the top no-annual-fee options currently available.
With the ability to earn up to 5% back on office supply purchases and telecom services up to $25,000 per year, plus 2% back on gas and dining within the same annual cap, the Ink Business Cash® allows business owners to steadily accrue cash rewards.
What’s more, the Ultimate Rewards points you earn have flexible redemption options beyond just statement credits, including travel, gift cards, and purchases made through Chase partners like Amazon and PayPal.
While the bonus category caps and lack of travel-centric benefits mean the Ink Business Cash® likely won’t be the optimal choice for ultra-high business spenders or frequent travelers, its value proposition is hard to beat for the average small business owner. Just the new cardmember bonus alone—$750 cash back when spending $6,000 in the first 3 months—is enough to make the Ink Business Cash® a near must-have.
If your business’s spending habits align with the 5% and 2% bonus categories, and you aren’t committed to earning premium travel rewards, the Chase Ink Business Cash® Credit Card stands out as an impressively rewarding and low-maintenance option to consider.
What separates it from many of its cash back business card brethren is its symbiosis with Chase’s Ultimate Rewards ecosystem. This unlocks valuable opportunities like combining rewards with cards like the Ink Preferred for travel redemption boosts and partner transfers. As a standalone card or part of a broader strategy, the Ink Business Cash® is a versatile cash back companion for small business owners.
FAQs on the Chase Ink Business Cash® Credit Card
What credit score do I need for the Ink Business Cash® Credit Card?
Chase recommends having good to excellent credit to qualify, which typically means a FICO score of 670 or higher. However, credit score requirements can vary based on your overall financial profile.
Can I qualify for the Ink Business Cash® without a formal business entity?
Yes, even if you’re a sole proprietor or have a side gig like freelance work or selling goods/services, you may be able to qualify by providing basic details about your business.
How much can I earn from the Ink Business Cash® welcome bonus?
The welcome bonus offers $750 bonus cash back when you spend $6,000 on purchases in the first 3 months from account opening. Based on the 1 cent per point redemption value, that equates to 75,000 bonus points.
Can the Ink Business Cash® rewards be transferred to travel partners?
No, the Ink Business Cash® does not allow transferring rewards to airline or hotel partners. To unlock that premium feature, you’ll need the Chase Ink Business Preferred® Credit Card or select personal Chase cards like the Sapphire Preferred® or Sapphire Reserve®.
How do employee cards work with the Ink Business Cash®?
You can add employees as authorized users at no additional cost. Their spending will earn rewards for your business, and you can set individual credit limits and receive consolidated statements.
Is the Chase Ink Business Cash® Credit Card metal?
No, the Ink Business Cash® Credit Card is not a metal card. Chase’s premium Ink Business Preferred® and personal Sapphire Reserve® are their only metal card offerings.
In another related article, The Ultimate Guide to the Best Business Gas Cards in 2024
