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 can maximize high earnings rates on common business expenses or use the premium travel perks offered by Chase. Otherwise, it will depend on how much you spend per year in each bonus category.
The Ink Business Cash comes with several tools designed to help you manage your business expenses better. If you’re just starting out, or if you haven’t quite refined your bookkeeping and accounting processes yet, these features can help you save a substantial amount of money.
This card has no annual fee, and Chase offers a 0% introductory rate on all purchases for the first 12 months of account membership, so Ink Business Cash® might also be a great option for new businesses that don’t have a steady stream of revenue yet.
Ink Business Cash: Highlights
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Annual fee: Ink Business Cash® has no annual fee.
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Reward rate: 5% back on your first $25,000 in combined spending on office supplies and telecommunications services each account anniversary year, 5% back on all Lyft rides and 2% back on your first $25,000 in combined spending at restaurants and gas stations each account anniversary year.
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Welcome offer: If you spend $3,000 on purchases within three months of opening an account, you’ll earn a $350 bonus. You can earn $400 more if you spend $6,000 on purchases within six months of opening an account. This makes the welcome offer worth $750.
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Key perks: Ink Business Cash® comes with extended warranty protection, purchase protection, emergency assistance services and other perks.
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Drawbacks: Although Ink Business Cash® comes loaded with benefits, the $25,000 combined spending cap limits the amount of cash back you can earn if your business spends a lot of money. You also need a good credit score to qualify for the card.
Who is Ink Business Cash best for?
With a 0% introductory APR on purchases, the Ink Business Cash is ideal for sole proprietors and small companies that typically stay under the spending limits in each bonus category.
The ideal user would be able to maximize their earnings on business-related expenses and travel to take advantage of the generous rewards program operated by Chase.
Ink Business Cash® Card: Rewards
Chase makes it easy to earn and redeem rewards with your Chase Ink Business Cash® Card.
Earning rewards
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5% cash back in select business categories: Use your Ink Cash® Card to earn 5% cash back on your first $25,000 in combined spending on telecommunications services (internet/cable/phone) and office supplies each account anniversary year.
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2% cash back at gas stations and restaurants: This cash-back credit card gives you 2% back on your first $25,000 in combined spending at restaurants and gas stations each account anniversary year.
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1% cash back on all other purchases – with no limit to the amount you can earn: Cardholders earn 1% cash back in all other categories, from grocery stores to website hosting services.
Redeeming rewards
Chase gives you the following options for redeeming rewards:
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Statement credits: One of the easiest ways to redeem your rewards is to request a statement credit. A credit reduces the balance on your account, making your business expenses more manageable. Note that Chase doesn’t count a statement credit as a minimum payment. Even if the statement credit is more than the minimum due, you’ll still have to make your minimum payment to keep your account in good standing.
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Direct deposits: Direct deposits are extremely flexible, as they allow you to use your rewards for anything you want. Once you make the request, Chase deposits the money in your bank account.
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Shop Through Chase (shop with points): The Chase Shopping Portal allows you to redeem your rewards for a wide range of merchandise. As an added bonus, you can earn additional rewards on your purchases.
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Book through Chase Travel and redeem for rental cars, hotels or flights: With Chase Travel, it’s possible to use your rewards to book hotels, flights and rental cars. If you save up long enough, you could even get a free vacation.
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Spend Points on Amazon: Amazon and PayPal both allow you to use your Chase rewards at checkout.
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Gift cards: Chase Ultimate Rewards® gives you access to gift cards from more than 175 popular brands.
Welcome offer
Earn up to $750— $350 when you spend $3,000 on purchases in the first three months of account membership and an additional $400 when you spend $6,000 on purchases in the first six months of account membership.
We love that this Chase credit card splits its welcome bonus this way. If you’re just starting out and don’t think you’ll spend $6,000 within the first six months, you can still earn $350 instead of giving up the bonus entirely.
Ink Business Cash® Card: Benefits
The Ink Business Cash® Card comes with generous rewards and gives you access to a variety of valuable benefits.
Travel benefits
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Primary rental car insurance: When you rent a vehicle for business purposes, the Ink Business Cash® Card gives you primary auto insurance coverage. Decline the rental company’s waiver and use your Ink Business Cash® Card to cover the rental fee and this coverage could reimburse up to the actual cash value of the vehicle for collision damage or theft.
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Roadside Dispatch: Roadside Dispatch offers 24/7 roadside assistance, making it easy to get help with flat tires, vehicle lockouts and other common problems. You will have to pay a fee for each service.
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Travel and emergency assistance services: If you have an emergency while you’re away from home, you can call the travel and emergency assistance hotline for referrals. Operators can also provide other forms of travel assistance.
Business benefits
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Free employee cards: When you open an Ink Business Cash® account, you can get additional cards for your employees at no additional cost. This makes it easy for employees to cover gasoline, client lunches and other business expenses without asking for petty cash or using their personal cards and waiting for reimbursement.
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Track employee spending: Ink Business Cash® comes with helpful tools to help you track employee spending, making it easier to identify your most common expense categories and make sure no one is using the account for personal charges.
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Extended Warranty Protection: If you use your card to buy something with a manufacturer’s warranty of three years or less, Extended Warranty Protection gives you an additional year of warranty coverage at no additional cost. This benefit is worth up to $10,000 per claim ($50,000 per account).
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Purchase Protection: If you use your card to buy an eligible item, Purchase Protection will reimburse you or pay to repair/replace the item if it’s stolen or sustains accidental damage. This benefit is worth up to $500 per claim and a maximum of $50,000 per account.
Ink Business Cash® Card: The fine print
Before you apply for the Chase Ink Cash Card, familiarize yourself with all relevant fees and rates.
Fees
- Annual fee: $0
- Foreign transaction fee: 3% of each transaction (in U.S. dollars)
- Balance transfer fee: $5 or 5% of the amount transferred, whichever is greater
- Late payment fee: $40
- Cash advance fee: $15 or 5% of the transaction amount, whichever is greater
Interest rates
- Regular APR: 18.49% to 24.49% variable
- Cash advance APR: 29.99% variable
- Intro APR offer: 0% on purchases for the first 12 months of account membership
- Balance transfer APR: 18.49% to 24.49% variable
Credit limit
Credit limits vary based on your income, credit score and other factors. The good news is that Chase automatically reviews Ink Business Cash® accounts every six months, so even if your initial limit is low, you may qualify for a higher limit within a short amount of time. Cardholders report initial limits as low as $500 and as high as $18,000.
Ink Business Cash® Card: Drawbacks
Although Ink Business Cash® has plenty of benefits, there are also some drawbacks to having the card.
Foreign transaction fees
Cardholders pay a 3% fee on every foreign transaction. If you travel overseas for business, these fees can easily cut into your company’s profits. Other companies offer business cards with no foreign transaction fees, so one of those cards may be a better fit if you intend to spend a significant amount of money outside the United States.
Low rates outside bonus categories
The best rewards credit cards have high earnings rates for multiple categories. Ink Business Cash gives you 5% back on certain business expenses and 2% back at gas stations and restaurants, but you only earn 1% back on all other purchases.
With low reward rates outside the main bonus categories, you may not be able to maximize your earnings based on your current spending habits.
Spending caps on bonus rewards
Although 5% is a generous rewards rate, it only applies to your first $25,000 in combined spending on office supplies and telecommunications services each year. If you’re just starting out, you may not have to worry about this cap. As your business grows, however, a $25,000 combined spending cap may make it difficult to maximize your rewards.
How Ink Business Cash® compares
Here’s how Ink Business Cash® stacks up against two other Chase Ink credit cards.
Ink Business Cash® Credit Card vs. Ink Business Preferred® Credit Card
Overall, Ink Business Cash® is a better fit for business owners who are just starting out, as it has no annual fee and a more attainable welcome bonus. In contrast, the Ink Business Preferred® Credit Card has an annual fee of $95. You also have to spend $8,000 in purchases within three months of opening an account to earn 100,000 bonus points.
If you have a well-established business, however, Ink Business Preferred® may be a better fit. It has no foreign transaction fees, so you can participate in overseas travel with confidence. Ink Business Preferred® also allows you to transfer your points to one of several travel-related loyalty programs.
▶︎ Read more: Ink Business Preferred review
Ink Business Cash® Credit Card vs. Ink Business Premier℠ Credit Card
Ink Business Premier℠ Credit Card is a good fit for established businesses, as the welcome offer requires you to spend $10,000 within three months of opening your account to earn a $1,000 cash bonus. Additionally, you must pay your balance in full each month, so it may not be a great fit for companies that need extra flexibility.
Like the Ink Business Preferred® Card, Ink Business Premier® has no foreign transaction fees. However, it does have a $195 annual fee, making it the most expensive card on this list.
▶︎ Read more: Ink Business Premier Review
Should you get an Ink Business Cash® Card?
Due to its $0 annual fee and easy-to-earn welcome bonus, we recommend the Ink Business Cash® Card, particularly for sole proprietors and small businesses. The card comes with a $25,000 combined spending cap in each bonus category, so it works well for small businesses that aren’t likely to exceed the limit in any given account anniversary year.
