The Chase Ink Business Cash Card is a great addition to Chase’s small business credit card lineup. It has no annual fee and some attractive bonus categories that all businesses can benefit from. You’ll earn up to 5% cash back on your purchases and redeem rewards at any time and for any amount. There is also an introductory 0% APR on purchases for the first 12 months, which a nice feature during uncertain times.
When you apply for the Chase Ink Business Cash Card, you’ll receive a $500 welcome bonus after spending $3,000 within the first three months. Redeem rewards for statement credits, deposits into your bank account, travel, gift cards, and more. Employee cards are complimentary and credit limits can be set at the individual account level.
Chase Ink Business Cash Card Highlights
- Welcome Bonus: Earn a $500 bonus after spending $3,000 within the first three months of account opening.
- Bonus Cash Back on Spending: Receive 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone transactions per account anniversary year. Earn 2% cash back at gas stations and restaurants up to a combined $25,000 each year.
- 0% APR on Purchases for 12 Months: Need some interest-free credit? Business owners will enjoy an introductory 0% APR on purchases for the first 12 months.
- Free Employee Cards: Add employee cards to your account at no additional charge. These cards earn cash back at the same rate as the business owner’s credit card. You can set individual credit limits at the employee level to reduce your risk.
- Cash Back Redemptions: Redeem cash back rewards at any time for any amount as a statement credit or bank account deposit. You may also redeem your rewards for gift cards or travel or use them at the Apple Ultimate Rewards Store.
- Travel and Purchase Benefits and Protections: Primary rental car protection against collision damage or theft when renting for business purposes. Purchases are protected up to $10,000 per claim against damage or theft for 120 days. Eligible manufacturer warranties are extended one extra year.
- Annual Fee: There is no annual fee.
- Learn How to Apply
Where It Shines
There are a number of ways that the Chase Ink Business Cash Card shines for small business owners. First, there is the $500 signup bonus. For people looking for a cash back credit card, it is hard to beat receiving $500 after spending $3,000 within three months.
You’ll earn 5% cash back when you spend at office supply stores and on internet, cable, and phone services. This benefit is capped at $25,000 in spending based on your card’s anniversary date. Additionally, you can earn 2% cash back on another $25,000 in purchases at gas stations and restaurants each anniversary year. If you maxed out these category bonuses, you’d earn $1,750 in cash back. That’s an amazing return for a credit card that doesn’t have an annual fee.
Cardholders also receive other valuable travel and purchase benefits. Whenever you rent a car for business purposes, you’ll enjoy primary rental car protection against vehicle theft or damage.
Your purchases are also covered up to $10,000 per claim (and $50,000 per card) for 120 days after purchase against theft or damage. Receive an extra year of coverage on eligible manufacturer warranties of three years or less.
The Chase Ink Business Cash credit card offers all of these benefits, yet there is no annual fee. Additionally, if you have employees, add them as authorized users for no extra cost. Don’t worry, you don’t have to give them access to your entire credit line. You can set individual credit lines for each employee according to whatever criteria you think are appropriate.
Getting the Most from Your Chase Ink Business Cash Card
To get the most from your Chase Ink Business Cash Card, there are a few steps to take. First off, make sure that you spend $3,000 within the first three months so you’ll earn the $500 welcome bonus.
Add complimentary employee cards so that their purchases will help you earn the signup bonus and maximize the category bonuses. Every 12 months, you’ll earn 5% and 2% cash back rewards on up to $25,000 (per bonus category) in spending. Maximize those purchases as much as you can to earn additional rewards. If you have purchases that don’t qualify for extra cash back, consider buying gift cards from office supply stores or gas stations for those retailers.
Although the Chase Ink Business Cash Card is promoted as a cash back card, you’ll actually earn Chase Ultimate Rewards points that can be redeemed for cash. If you pair this credit card with another one that earns Ultimate Rewards points, such as the Chase Sapphire Preferred, you can redeem your points for even more value. The Chase Sapphire Preferred redeems points for 1.25 cents toward travel (25% more than the Chase Ink Business Cash). Plus, it can transfer points to 13 hotel and airline partners – such as United, Hyatt, and Singapore Airlines – where you can redeem them for rooms and flights.
What You Might Not Like
- Rewards Have Fixed Value: Unlike the other Chase Ink Business credit cards, these rewards are worth only one cent each. To redeem for higher value, you’ll need to transfer your rewards to another Chase Ultimate Rewards card, such as the Chase Sapphire Preferred.
- Caps on Bonus Categories: The 5% and 2% categories are a great way to earn extra rewards. However, both categories are capped at $25,000 each. Additional purchases after the cap earn only 1% cash back.
- Limited Bonus Categories: Although the bonus categories offered are used by most businesses, all other purchases you make earn only 1% cash back. Review your business transactions to see how much of your spending aligns with these categories.
- Foreign Transaction Fees: Purchases made internationally are charged a 3% foreign transaction fee.
- No 0% Balance Transfers: Balance transfers on new accounts do not receive an introductory APR offer. These transfers and purchases are subject to the normal interest rates that vary based on the Prime Rate.
Alternatives to the Chase Ink Business Cash Card
The Chase Ink Business Cash Card offers benefits that many small business owners will love. However, entrepreneurs usually want to focus on their business instead of trying to remember their credit card category bonuses. This is where the Capital One® Spark® Cash for Business excels.
The Capital One Spark Cash for Business card offers unlimited 2% cash back on every purchase that a small business makes. You don’t have to register for promotions or worry about hitting annual limits on cash back. Simply use the card for all of your purchases and watch the cash back roll in. Plus, new applicants receive a $500 welcome bonus after spending $4,500 within the first three months after account opening.
Capital One offers free employee cards so you can earn cash back on their purchases, as well. As the business owner, you can set individual limits on each employee card.
Your cash back rewards will not expire as long as your account remains open and in good standing. Cash back can be redeemed at any time and for any amount as a statement credit or a check. Plus, you can automate the process by having Capital One provide cash back on your purchases on a set calendar interval or when your cash back rewards reach a certain dollar figure.
Visa benefits cover you for theft or accidental damage to rental cars. Purchases are also protected by Visa because it will replace, repair, or reimburse eligible items within 90 days of purchase. Manufacturer warranties are also doubled on eligible purchases. There are no foreign transaction fees on international purchases. The annual fee of $95 is waived the first year.
Small business owners receive a lot of value from this no-annual-fee credit card. The Chase Ink Business Cash Card earns up to 5% when spending on typical business categories. Plus, complimentary employee credit cards earn additional cash back rewards from their spending on behalf of the business.
The $500 welcome bonus after spending $3,000 within three months provides an immediate boost to your cash back rewards balance. Cash back rewards can be redeemed at any time and for any amount. These options provide a lot of flexibility for business owners.