Chase Ink Business Cash Review
Ink Business Cash is a cash back card offered by Chase. Cardholders can earn up to 5% on eligible purchases.
There is a lot to like about Ink Cash: it has no annual fee, it offers a high rate of cash back on some purchases, and it currently has a high signup bonus. This card is undeniably a good business credit card, but is it the best credit card? More specifically, is it the best credit card for you?
After doing the math and comparing it to the competition, we have concluded that Ink Business Cash is an excellent choice for business owners who spend a lot of money in the high-earning categories, but aren’t planning on putting hundreds of thousands of dollars on their credit card in a given year.
Is Ink Cash right for your business? Keep reading to find out!
Ink Cash At A Glance
- Annual Fee: $0
- Bonus Offer: $500 cash back (if you spend at least $3,000 within 3 months of opening your account)
- Purchase APR: 15.24% – 21.24%, Variable
- Introductory Purchase APR: 0% APR for the first 12 months
- Introductory Balance Transfer APR: 0% APR for the first 12 months
- 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone purchases 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
- Notable Perks & Benefits
- Employee cards at no additional cost
Rewards & Fees
- Ink Business Cash does not carry an annual fee.
- The bonus offer is $500 cash back. To earn the bonus, you must spend at least $3,000 within three months of opening your account.
- Cardholders earn 5% cash back on the first $25,000 spend on office supply stores and internet/cable/phone purchases combined each account anniversary year, and 2% cash back on the first $25,000 spent at gas stations and restaurants combined. If you max out both tiers, that adds up to a savings of $1,750.
Because Ink Business Cash does not carry an annual fee, you are immediately saving money by using this card. If that’s not incentive enough, business owners who can put at least $3,000 worth of purchases on the card in three months receive an additional incentive: a bonus of $500 cash back.
Chase offers three tiers for earning cash back. If you max out both tiers, you will earn a total of $1,750 cash back ($1,250 for 5% cash back, and $500 for 2% cash back). After you hit the $25,000 mark, you can still earn cash back, but the rate will be reduced to 1%.
Because the 5% and 2% tiers max out at $25,000, this card is best for small businesses without too many expenses. If you are spending a significant amount more than $25,000 in relevant categories, you’ll find that other business credit cards offer more savings.
Like all cards that offer tiered rewards, you’ll want to look at some other options if you don’t spend a lot of money in the high-earning categories. In the case of Ink Cash, businesses that don’t have large internet, cable, and phone bills and rarely shop at office supply stores will be able to find better savings via a different card. On the other hand, Ink Cash is one of the few cards available that offers 5% cash back on some purchases, so the right kind of businesses will find Ink Cash well worth considering.
Although Ink Cash is marketed as a cash back card, rewards are technically counted as points — 5% cash back is five points per $1 spent, 2% back is two points per $1, and so on. While you can redeem your points for cash back, business owners can also use the points for rewards like gift cards or travel. Note that while cash back points are worth $0.01 each, points might be worth more or less than $0.01 each when redeemed for other kinds of rewards.
Points earned via Ink Cash do not expire while your account is open. Additionally, points earned on this card can be transferred to other cards with Chase Ultimate Rewards.
Ink Cash comes with many travel and shopping benefits, such as:
- Fraud protection
- Zero liability protection
- Purchase protection
- Extended warranty
- Travel and emergency assistance services
- Auto rental collision damage waiver
Once your account is open, Chase will send you a full guide to benefits, which explains all your benefits and how to use them.
Note that unlike Chase’s other business credit card, Ink Cash does carry foreign transaction fees. You will be charged 3% on all transactions processed outside of the United States.
Chase Ink Business Cash is one of the few cards available that offers 5% cash back on some purchases. Depending on the type and frequency of their expenses, some businesses could save quite a bit of money. However, the $25,000 maximum limits the amount of cash back you’re able to earn, so businesses with a lot of expenses might be able to find a card that offers more savings overall.