The Ink Business Cash® Credit Card from Chase is amongst the most well-known business credit cards in the market. As the name suggests, this credit card offers its benefits in the form of cashback which can be redeemed through multiple avenues.
The rewards program on this credit card is basic and easy to follow. One can earn a 5% cashback on purchases at office supply stores and on internet, cable and phone services each account anniversary year for the first $25,000. You also get 2% cashback for the first $25,000 spent at gas stations and restaurants each account anniversary year. Other than that, one can earn 1% cashback on all other purchases. So, let’s say if you spend an average of $5,000 per month on your business expenses on this credit card, your yearly expense will total to $60,000. Assume you do meet the $25,000 maximum for both categories, then your total earned cashback could be up to $1,850.
You also get a welcome bonus of $350 when you spend $3,000 within the first 3 months of your account opening and an additional $400, if your spending reaches a minimum of $6,000 within the first 6 months of your account opening. That’s $750 worth of cash value by spending $6,000 in 6 months. On top of that, you also a get a relationship bonus of 10% of the total cashback earned at the end of first year if you also have a business checking account with Chase. So, if we calculate the potential cashback earned at the end of first year using the above example, you could have a total $2,860 in cashback value. This is especially enticing because this card doesn't have an annual fee and also has a promotion of 0% APR on purchases for the first 12 months followed by a variable APR of 17.49% - 25.49%(Rates and Fees). That means there won't be any additional expenses at least for the first 12 months, which could offset the rewards earned. As long as the account stays open and in healthy condition, the rewards won’t expire. Therefore, from a rewards earning perspective, this card certainly is appealing. The rewards value for this card is amongst the best when compared to other cards in the same domain.
This credit card will serve you well if this is your first business credit card or even if you have other business cards on file. But it certainly has limitations if your business operates in certain areas.
So, who is it good for?
If you have good credit scores and already have Chase business checking account, this credit card would be a good addition. You would have a relatively easy chance to get approved as well as earn fair rewards even if this would your first business credit card.
If your business is service oriented, then you are likely to benefit from this card as you may likely have expenses related to office supplies, internet and phone. Those categories earn you the highest cashback for this card.
Who is it not good for?
If your business requires you to travel very often, especially internationally, this may not be the best choice. That is because, you would incur 3% foreign transaction fee (Rates and Fees) on each foreign transaction. Also, while you can redeem your points through Chase TravelSM, it is not as efficient as you may have it for many other business travel cards in the market.
If your business expenses focus on categories other than the ones mentioned above, then also this may suit you the best. That is because the cashback value for those purchases is only 1%. There are other cards in the market that can offer a higher cashback for those purchases.
All information about Ink Business Cash® credit card has been collected independently by Credit Ready. This credit card is no longer available through Credit Ready.