The information related to Ink Business Cash℠ Credit Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.
The Ink Business Cash℠ Credit Card is a great no-fee credit card that will earn you a decent amount of cash back for your regular business spending. It has a simple cash back structure that most businesses will benefit from, and its signup bonus is good considering it has a low spending requirement (for a business card).
If you want a basic cash back business credit card, read on for the details.
What the Ink Business Cash℠ Credit Card Has to OfferEarn $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.
Currently, there’s an introductory 0% for 12 Months on purchases, then 14.74% - 20.74% Variable APR applies.
If you’re late on a payment, the default variable APR can go up to 29.99% and this rate might persist for as long as your account is open.
Pros and Cons of the Ink Business Cash℠ Credit Card
Pro: There’s a $0 annual fee associated with this card, so you can keep it as long as you want without worrying about paying $95+ after your first year.
Con: You won’t earn a lot of cash back or points if you don’t do a lot of spending in the cash back categories this card offers. If you’re looking to capitalize on travel rewards, you should look for another card.
Pro: The benefits associated with this card include travel accident insurance, roadside dispatch, baggage delay insurance, auto rental collision damage waiver, lost luggage reimbursement, purchase protection, extended warranty protection, and more.
Con: While the cash back signup bonus is good for a card with no annual fee, there are better signup bonuses to be had out there, especially if you want points for travel.
Pro: You can manage employee spending by setting individual limits for each card, and cards for employees are free.
Who Benefits the Most from the Ink Business Cash℠ Credit Card
Businesses that don’t tend to spend a large amount per month will benefit from this card as the signup bonus only requires a minimum of $3,000 of spending in 3 months. Other business cards have higher spending requirements to get the signup bonus.
If you tend to buy a lot of office supplies for your business, want to charge utilities, travel by car a lot, or have restaurant outings with clients, then the cash back categories Chase offers are great. Plus, rewards never expire as long as your account stays open, and you can combine rewards earned from all Chase cards through the Ultimate Rewards program.
Ultimately, the Ink Business Cash℠ Credit Card is a good basic cash back card for businesses, perfect for those trying to earn rewards for the first time.
Aside from the typical requirement to be 18 years or older, there are no special eligibility requirements to apply for the Ink Business Cash℠ Credit Card. Chase does want to make sure you haven’t had any recent bankruptcies and aren’t seriously delinquent on any other accounts, though.
You also don’t technically need to be a business owner – you can use your own name as the legal businesses name and your Social Security number for the tax ID number.
You can apply for the Ink Business Cash℠ Credit Card online, and the process is straightforward. Be prepared to enter your business information, including the legal name and the tax ID number. After entering your business information, you’ll enter your personal information, contact information, and select any additional features you’d like to implement on your card.
The Fine Print
As with any credit card, you should be aware of the potential fees you might incur.
Late Fee: These are tiered depending on your balance. It’s $15 if your balance is less than $100; $29 if your balance is $100 to $249; and $39 if your balance is over $250.
Returned Item Fee: If your payment is unsuccessful, you’ll incur a $39 fee.
Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
Cash Advance Fee: Either $15 or 5% of the amount of each transaction, whichever is greater.
Foreign Exchange Fee: 3% of each transaction in U.S. dollars
Additionally, keep in mind that protections offered to personal credit cards under the CARD Act don’t apply to business credit cards. That means your APR can change at any time – even the introductory rate. Don’t rely on that introductory 0% rate to remain for all 12 months. Pay your balance off in full and be a responsible credit card user, as you’re personally responsible for any debt you accrue, even on a business card.
As an example, from the terms and conditions: You authorize us to allocate your payments and credits in a way that is most favorable to or convenient for us. For example, you authorize us to apply your payments and credits to balances with lower APRs (such as promotional APRs) before balances with higher APRs. Rates, fees, and terms may change: We have the right to change the account terms (including the APRs) in accordance with your Business Card Agreement.
An Alternative Business Credit Card
If you’re mostly interested in the simple structure the Ink Business Cash℠ Credit Card provides, but don’t spend a lot in the rewards categories it has, you might want to look at the Capital One® Spark® Cash Select for Business.
It gives you a flat 1.5% Cash Back on every purchase, and you earn a One-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening.
Compare Your Options
There are quite a few business credit cards out there with great signup bonuses. The key is to look at the rewards and pick the cards you’ll be able to maximize the most. If you don’t travel a lot for your business, then the Ink Business Cash℠ Credit Card is a great option. If you do, then the Ink Business Preferred℠ Credit Card card might be better. Get the card that suits your business the best, and make sure you don’t carry a balance, otherwise the interest will negate the rewards you earn.
Featured Accounts from our PartnersAD
Intro 0% for 18 months on Balance Transfers, then a 13.49% - 24.49% Variable APR.
0% intro on purchases for 15 months, after that a 15.74% - 25.74% (Variable) APR. Earn unlimited 1.5% Cash Back on every purchase, every day.
Earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening.