For business owners who are looking for a cash back credit card option, take a look at the Chase Ink Business Cash℠ Card. It’s currently offering $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening.
You may find this card attractive if you’re just starting out and you’re budget conscious because it has no annual fee. Rewards are focused on office, restaurant and gas spending. This card can fill in a rewards gap a travel rewards credit card may leave open. Even if you don’t play the points and miles game today, you have the future option to transfer your points to another Chase card. This makes the Ink Business Cash℠ an extremely flexible option.
It features the ability to earn up to 5% cash back. Plus, it comes with travel and purchase coverage benefits including an auto rental collision damage waiver and extended warranty protection.
The Ink Business Cash℠ offers generous returns on a wide range of office expenses, from supplies to utility services. Because, this is a cash back card, redemption is simpler than with a points and miles card. Nonetheless, you have the option to pair this up with another Chase card in the Ultimate Rewards® program to earn even more.
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Chase Ink Business Cash Card Summary
With the Chase Ink Business Cash℠ Credit Card:
• Earn $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
• 0% introductory APR for 12 months on purchases and balance transfers
• Employee cards at no additional cost
• No Annual Fee
Earn Up To 5X Cash Back
For business owners who spend a lot in common business expenses, this is where the Chase Ink Business Cash℠ Card’s rewards program shines. In fact, this is one of the more generous cards when it comes to office supplies.
Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, cellular phone and landline services each account anniversary year. Then, you’ll earn a standard 1% back until the next year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Again, you’ll earn a standard 1% back after you hit the threshold until the next year. All other purchases net 1% cash back.
With the Chase Ink Business Cash℠ Card, you can redeem your cash back for multiple options. Some include gift cards, travel and goods and services offered through Chase’s Ultimate Rewards® program. Cash redemption options include account statement credit or an electronic deposit into an eligible account.
Points redeemed for cash, gift cards or travel are worth 1 cent apiece. This means, you earn 5 cents for every dollar you spend on qualifying office supply purchases.
Earn More Point Value
You can boost your redemption rate for the first $25,000 spent at office supply stores and communications costs if you transfer your points to another Chase card with Ultimate Rewards.
These cards include Chase Sapphire Preferred® and/or the Chase Sapphire Reserve®. Generally, points are worth 1 cent apiece with both cards. However, if you redeem them for travel booked through Chase, the point value increases to 1.25 center per point with the Chase Sapphire Preferred® and 1.5 cents per point with the Chase Sapphire Reserve®.
The Chase Ink Business Cash℠ Card isn’t eligible for these increased point values, but if you have either Sapphire-branded cards, you can transfer your Chase Ink Business Cash℠ points to it. Then, you can redeem for travel to increase your rewards rate.
Points on the Sapphire-branded cards can also be transferred at a 1:1 ratio to other loyalty travel programs. Some include United Airlines, British Airways or SPG/Marriott. You can potentially get an even higher rewards rate.
To apply for the Chase Ink Business Cash℠ Card, you don’t need to have a formal business to be eligible. If you’re a freelancer or you have a side gig, you should consider applying, considering you meet all other requirements. You don’t even need a Federal Employer Identification Number (EIN) to apply for most business products. Most issuers let you use your Social Security Number instead.
The Chase Ink Business Cash℠ Card doesn’t cost anything to carry. Thus, if your business spends significant money in the bonus categories, it probably makes sense to pull the trigger. The current sign up bonus is great and the 5% cash back on select categories is pretty significant. With those factors combined, it’s excellent for small business owners, but it might not be ideal for bigger spenders.
The main drawbacks are that the 5% categories are limited and the bonus rewards are capped. Many small businesses spend little on office supplies or telecommunication services. Therefore, you wouldn’t get the full benefit of the 5% cash back. For such businesses, you could check out the Capital One® Spark® Cash Select for Business. This card offers a flat 1.5% cash back on every purchase with no limit.
Once you hit the $25,000 in combined spending in the bonus categories, you’ll earn only 1% back for the rest of the year. If this is your business, other cards offer higher limits on bonus rewards. One example would be the SimplyCash® Plus Business Credit Card from American Express. This card offers 5% cash back on up to $50,000 a year in combined spending at office supply stores and wireless providers, 3% cash back on up to $50,000 a year in spending in a category that you choose, and 1% on everything else (terms apply).
Nonetheless, feel free to check it out if the Chase Ink Business Cash℠ Card fits you. If not, you can find more on our complete list of credit card promotions today!
The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.