Ink Business Cash® Credit Card: Review
Is Ink Business Cash worth it?
The Ink Business Cash® Credit Card is absolutely worth it for business owners who want to maximize high rates of return on general business expenses and take advantage of the premium travel benefits Chase offers. Otherwise, it all comes down to how much you spend annually in each bonus category.
Ink Business Cash comes with several tools designed to help you better manage your business expenses: If you’re just starting out in business or haven’t yet fully refined your bookkeeping and accounting processes, these features can save you a significant amount of money.
Because the card has no annual fee and Chase offers 0% introductory interest on all purchases for the first 12 months of account membership, Ink Business Cash® could also be a great option for new businesses that don’t yet have a steady revenue stream.
Ink Business Cash: Highlights
- Annual fee: Ink Business Cash® has no annual fees.
- Payout Rate: 5% cash back on $25,000 in combined spend on office supplies and communication services each year on your account anniversary, 5% cash back on all Lyft rides, 2% cash back on $25,000 in combined spend on restaurants and gas stations each year on your account anniversary.
- Welcome Offer: If you spend $3,000 on purchases within the first three months of opening your account, you’ll get a $350 bonus. If you spend $6,000 on purchases within the first six months of opening your account, you’ll get an additional $400. This means your welcome offer is worth $750.
- Key benefits: Ink Business Cash® comes with extended warranty protection, purchase protection, emergency assistance services, and other perks.
- Disadvantage: Ink Business Cash® has a lot of perks, but it does have a $25,000 total spending limit, which limits the amount of cash back you can earn if you make a lot of business expenses.You’ll also need a good credit score to qualify for this card.
Who is Ink Business Cash Best For?
With a 0% introductory APR on purchases, Ink Business Cash is a great choice for sole proprietors and small businesses who typically fall within the spending limits in each bonus category.
Ideal users can take advantage of Chase’s robust rewards program to maximize the returns they earn on business-related expenses and travel.
Ink Business Cash® Card: Benefits
Chase makes it easy to earn and redeem rewards with your Chase Ink Business Cash® card.
Earn rewards
- 5% cash back on selected business categories: With the Ink Cash® card, you earn 5% cash back on the first $25,000 in combined spending on communication services (internet/cable/phone) and office supplies each account anniversary.
- 2% cash back at gas stations and restaurants: This cash back credit card offers 2% cash back on the first $25,000 in combined spending at restaurants and gas stations each account anniversary.
- 1% cash back on all other purchases – There’s no limit to the amount you can earn. Cardholders can earn 1% cash back on all other categories, from groceries to website hosting services.
Redeeming rewards
Chase offers the following options for redeeming rewards:
- Statement credit: One of the easiest ways to take advantage of your benefits is to request a statement credit. Credits reduce your account balance, making it easier to manage your business expenses. Note that Chase doesn’t count statement credits against your minimum payments. Even if your statement credit exceeds your minimum payment, you still need to pay the minimum payment to keep your account in good standing.
- Direct deposit: Direct deposit is very flexible because you can use your rewards for whatever you want: Once you request it, Chase will deposit the money into your bank account.
- Shop with Chase (Shop with points): The Chase Shopping Portal allows you to redeem rewards for a variety of products, plus you can earn extra rewards with every purchase.
- Book through Chase Travel and redeem for car rentals, hotels or flights: Chase Travel allows you to use your points to book hotels, flights, rental cars, and maybe even get a free vacation if you collect enough.
- Use your points on Amazon: Both Amazon and PayPal allow you to use Chase rewards at checkout.
- gift card: Chase Ultimate Rewards® gives you access to gift cards from over 175 popular brands.
Welcome Offer
You can earn up to $750: $350 after you spend $3,000 on purchases in the first three months of your account membership, and an additional $400 after you spend $6,000 on purchases in the first six months of your account membership.
I like how this Chase credit card breaks down its welcome bonus like this: If you’re just getting started and don’t plan on spending $6,000 within the first six months, you can earn $350 instead of giving up the bonus entirely.
Ink Business Cash® Card: Benefits
The Ink Business Cash® card comes with generous rewards, giving you access to a variety of valuable benefits.
Travel Rewards
- Major rental car insurance: If you rent a car for business purposes, you can get basic auto insurance with your Ink Business Cash® card. If you decline the rental company’s exemption and pay for the rental with your Ink Business Cash® card, you’ll be covered for collision damage and theft up to the actual cash value of your vehicle.
- Roadside Dispatch: Roadside Dispatch offers 24/7 roadside assistance, making it easy to get help with flat tires, car lockouts, and other common issues. There is a fee for each service.
- Travel and emergency assistance services: If you have an emergency while out and about, you can call the Travel and Emergency Assistance Hotline for referrals. Operators can also provide other forms of travel assistance.
Business Benefits
- Free Employee Cards: When you open an Ink Business Cash® account, you can get additional cards for your employees at no extra cost, making it easy for your employees to pay for gas, client lunches, and other business expenses without having to ask for petty cash or use their personal cards and wait for reimbursement.
- Track employee spending: Ink Business Cash® comes with handy tools to help you track employee spending, allowing you to easily identify the most common expense categories and ensure no one is using the account for personal payments.
Shopping Benefits
- Extended Warranty Protection: When you use your card to purchase an item with a manufacturer’s warranty of three years or less, Extended Warranty Protection will add an extra year to your warranty at no extra cost. This benefit is worth up to $10,000 per claim ($50,000 per account).
- Purchase Protection: When you use your card to make eligible purchases, Purchase Protection will refund or pay for the repair/replacement of your item if it’s stolen or accidentally damaged. This benefit is worth up to $500 per claim and $50,000 per account.
Ink Business Cash® Card: Fine Print
Before you apply for a Chase Ink Cash Card, make sure you understand all the fees and charges involved.
Fee
- Annual fee: $0
- Foreign transaction fee: 3% (USD) of each transaction
- Balance transfer fee: $5 or 5% of the transfer amount, whichever is greater
- Late fee: $40
- Cash advance fee: $15 or 5% of transaction amount, whichever is greater
Interest level
- Regular APR: 18.49% – 24.49% variable
- Cash Advance APR: 29.99% Variable
- Introductory APR Offer: 0% applied on purchases for the first 12 months of account membership.
- Balance Transfer APR: 18.49% – 24.49% Varies
Credit Limit
Your credit limit will vary based on your income, credit score, and other factors. The good news is that Chase automatically reviews your Ink Business Cash® account every six months, so even if your limit is low to begin with, you may be able to increase it in the short term. Cardholders report starting limits as low as $500 and as high as $18,000.
Ink Business Cash® Card: Cons
Although Ink Business Cash® has many benefits, there are also some drawbacks to having a card.
Foreign Transaction Fee
Cardholders pay a 3% fee for each international transaction. If you travel internationally for business, these fees could easily cut into your company’s profits. Other companies offer business cards with no foreign transaction fees, so if you plan on spending a lot of money outside the U.S., one of those cards might be a better choice.
Low rates outside the bonus category
The best rewards credit cards boast high rewards rates across multiple categories. Ink Business Cash offers 5% back on certain business expenses and 2% back at gas stations and restaurants, but only 1% back on other purchases.
Low reward rates outside of key bonus categories mean you may not be able to maximize your earnings based on your current spending habits.
Bonus reward spending limit
While 5% is a generous commission rate, it only applies to up to $25,000 in total expenditures on office supplies and communication services each year. If you’re just starting out, you might not need to worry about this limit. But as your business grows, a $25,000 total expenditure limit can make it difficult to maximize your commission.
Ink Business Cash® Comparison
Here’s how Ink Business Cash® compares to two other Chase Ink credit cards.
Comparing the Ink Business Cash® Credit Card and the Ink Business Preferred® Credit Card
Overall, the Ink Business Cash® is a good choice for business owners just starting out, as it doesn’t have an annual fee and the welcome bonus is easy to earn. Meanwhile, the Ink Business Preferred® Credit Card has a $95 annual fee and requires you to make $8,000 in purchases within the first three months of opening the account to earn the 100,000 bonus points.
However, if you have an established business, Ink Business Preferred® may be a better choice. It doesn’t charge foreign transaction fees, so you can travel internationally with peace of mind. Ink Business Preferred® also allows you to transfer your points to one of several travel-related loyalty programs.
▶︎ read more: Ink Business Preferred review
Comparing the Ink Business Cash® Credit Card and the Ink Business Premier℠ Credit Card
The Ink Business Premier℠ Credit Card is a good choice for established businesses, as its welcome offer earns you a $1,000 cash bonus after you spend $10,000 within the first three months of opening your account. And since you have to pay your balance in full every month, it might not be a good fit for businesses looking for more flexibility.
Like the Ink Business Preferred® card, the Ink Business Premier® doesn’t charge foreign transaction fees, but it does have a $195 annual fee, making it the most expensive card on this list.
▶︎ read more: Ink Business Premier Review
Should I get an Ink Business Cash® card?
With a $0 annual fee and easy-to-earn welcome bonus, the Ink Business Cash® Card is especially recommended for solopreneurs and small businesses. The card also comes with a combined spending limit of $25,000 for each bonus category, making it a great choice for small businesses that are unlikely to exceed the limit on the account anniversary.
