If you’re a small business owner that doesn’t spend a lot and you’re looking for some great rewards and incentives without the fuss of having to justify an annual fee, you may want to check out the Chase Ink Business CashSM Card.
This card comes with a 0% introductory APR for 12 months on purchases plus $500 bonus cash back when you spend $3,000 on purchases in the first 3 months from account opening. In addition, you can earn up to 5% cash-back rewards on purchases.
Sounds like something you’d apply for? Read on to find out if the Ink Business Cash is a keeper for your business.
Table of Contents
|Earn $500 bonus cash back when you spend $3,000 on purchases in the first 3 months from account opening||3% foreign transaction fee.|
|Earn 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. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Then, earn 1% cash back on all other card purchases with no limit to the amount you can earn.||Requires good/excellent credit.|
|Travel, purchase, and cell phone protection benefits.|
|No annual fee.|
Chase Ink Business Cash Benefits
The Chase Ink Business CashSM Card is the go-to card for these reasons:
- A good bonus. You’ll earn 50,000 bonus points, which can be redeemed for $500 cash back, when you spend $3,000 on purchases in the first 3 months from account opening.
- Earn up to 5% cash back. You’ll earn 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. Then, 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. You’ll earn 1% cash back on all other purchases with no limit to the amount you can earn.
- 0% introductory APR on purchases for the first 12 months (15.49% – 21.49% Variable thereafter). This could be helpful for new or growing small businesses who may need to make some larger initial investments or have irregular cash flow. Having this intro APR for the first year could equal a lot of money saved on interest.
- Cash back rewards don’t expire. Your rewards will never expire as long as your account is kept open and it stays in good standing. This way, you won’t have to worry about losing them if you forget to redeem them.
- Free employee cards. Add employee cards for no additional annual fees. The rewards program will apply to those cards as well. This way, you can earn rewards even faster on your card account. Minimize the risk of credit card abuse by setting a spending limit for each employee card. You’ll also be automatically notified whenever an employee makes a purchase.
- Protection benefits. You’ll get travel protection and purchase protection with your Ink Business CashSM Card.
Chase Ink Business Cash Pitfalls
You may not like the Chase Ink Business CashSM Card due to these reasons:
- Low earning cap. The 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 and 2% cash back on gas and dining is only on first $25,000. If you spend more than $25,000 a year in combined purchases in either of those categories, you might want to find another card to maximize your earnings like the SimplyCash® Plus Business Credit Card from American Express which offers an increased cap of the first $50,000 in purchases per calendar year for its cash back rewards.
- Traveler unfriendly. This card has a foreign exchange transaction fee of 3% of the amount of each transaction in U.S. dollars. If you or your employees are traveling internationally, this may not be the right one to use. If your company does travel outside the States to do foreign affairs, you may want to take a look at the Chase Ink Business PreferredSM Card instead.
- High credit requirement. If you have low or don’t have good credit, you may not be able to qualify for this card. Chase usually requires good to excellent credit for their cards.
Earning Cash Back
The Chase Ink Business CashSM Card gives up to 5% 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.
If you shop a lot at office supplies stores, such as Office Depot or Staples, you have tons of flexibility in what you purchase. There’s a variety of products through these large office supply stores. The 5% applies to the first $25,000 in combined purchases per year. Afterwards, it’ll drop down to only 1% back.
The same goes to the 2% back at gas stations and restaurants. If you frequently entertain your clients or have employees on the road, you’ll be able to get good use out of this category. All other purchases earn the standard 1% cash back.
Keep in mind that your cash back will be in the form of Chase Ultimate Rewards® points. Thus, you’ll have to redeem your cash back in statement credit or other options.
There are four simple ways to redeem your rewards with your Chase Ink Business CashSM Card.
First, you can redeem your rewards through the Ultimate Rewards portal for cash back as a statement credit to apply toward your balance, or get it directly deposited to most U.S. checking and savings accounts. You need a minimum of 2,500 points in order to redeem your cash back.
Frequent Amazon shoppers can instantly redeem your points to pay for all or part of your eligible Amazon orders. This includes tax and shipping. You have the option to redeem as few or as many of your Chase Ultimate Rewards® points to pay for all or part of eligible Amazon orders. Simply charge the remaining balance to your Chase card.
Or, cash in your earnings for over 70 gift card options available through the portal. You can also redeem travel rewards like premium vacation packages, cruises, or fly any class on most major airlines without restrictions or blackout dates on airfare booked through Chase Ultimate Rewards®.
Transfer Your Points
Then, you’ll be able to redeem rewards through Chase’s travel portal. Get a value of 1.25 cents per point or transfer them at 1:1 to your favorite major loyalty program, such as British Airways, United Airlines, and Hyatt, to potentially get even more value out of your rewards.
Both of these cards do come with fees. Though, it’s highly worth it if you take advantage of the points redemption benefits. Plus, both cards come with 25% more value when you redeem for airfare, hotels, car rentals and cruises through the Chase Ultimate Rewards® portal.
Use your Chase Ink Business CashSM Card to make travel arrangements and get a variety of card benefits:
- Auto Rental Collision Damage Waiver: Decline the rental company’s collision insurance and charge the entire rental cost to your card. You’ll earn primary coverage when renting for business purposes. Get reimbursement up to the actual cash value of the vehicle for theft and collision damage. It’s available for most cars in the U.S. and abroad.
- Travel and Emergency Assistance Services: If you run into a problem away from home, call the Benefit Administrator. Get legal and medical referrals or other travel and emergency assistance.
- Roadside Dispatch: If you have a roadside emergency, call 1-800-847-2869 anytime to dispatch the help you need. This includes anything from a tow or jumpstart to a tire change, lockout service, winching or gas delivery. Roadside service fees will be provided when you call and will be billed to your card.
In addition to travel benefits, you’ll also receive some shopping benefits when using the Chase Ink Business CashSM Card:
- Purchase Protection: Purchasing a fancy new laptop? No worries. Your new, eligible purchases with the Ink Business Cash from Chase are covered against damage or theft for up to 120 days and up to $10,000 per claim for a maximum of $50,000 per account.
- Extended Warranty Protection: If you purchase a product in the U.S., you get an additional year of warranty on eligible products if the U.S. manufacturer’s warranty is 3 years or less.
Higher Spending, More Travel?
Here’s how the Chase Ink Business CashSM Card stacks up against the Chase Ink Business PreferredSM Card, which offers points instead of cash back on similar categories, but with a higher cap of $50,000 in combined spending for each of the earning categories each year.
With the Chase Ink Business CashSM Card:
• Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
• Earn 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
• Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
• Earn 1% cash back on all other card purchases with no limit to the amount you can earn
• 0% introductory APR for 12 months on purchases
• Employee cards at no additional cost
• No Annual Fee
With the Chase Ink Business PreferredSM Card:
• 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
If you or your employees travel outside the U.S. often, consider going for the Chase Ink Business PreferredSM Card. The Ink Business PreferredSM has no foreign transaction fee and allows you to transfer points to participating airline and hotel transfer partners through Chase’s Ultimate Rewards® program along with other travel benefits. However, it does come with a $95 annual fee.
If you’re not sure which one to choose, but you believe that you’re able to qualify for the Ink Business PreferredSM bonus, then by all means, we recommend going with that one due to its rewards and benefits. If not, stick with the Chase Ink Business CashSM Card.
The Chase Ink Business CashSM Card is a solid no-fee credit card for small business that aren’t big on spending.
Thanks to its elevated earning rates for select spending categories and the ability to transfer cash back into valuable Chase Ultimate Rewards points, this card can give small business owners great rewards in no time. On the contrary, higher-spending businesses or companies that send employees abroad would most likely prefer a card with better benefits.
However, those benefits would most likely come with an annual fee. The Chase Ink Business CashSM Card is certainly a great beginner card. It’s best if you’re just starting out looking to manage spending and earn rewards.
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