November 15, 2019
Ink Business Cash Credit Card Review for Small Business
The card comes with a 0% introductory APR and a $500 cash bonus for signing up. There’s no annual fee, and you can earn cash back rewards on daily business expenses. The Ink Business Cash Credit Card won’t be the right choice for everyone. If you spend more than $25,000 a year, you can probably find better rewards with another card. But it’s an excellent choice for small businesses with low spending and travel needs.
About the Ink Business Cash Credit CardThe Ink Business Cash Card gives small businesses a way to manage cash flow while earning rewards for everyday business expenses. Unlike many business credit cards, there’s no annual fee. When you sign up, you’ll receive a 0% introductory APR for the first year. After that, you’ll receive a variable APR between 14.99% and 20.99%. In addition, customers that spend $3,000 within the first three months of account opening will earn $500 bonus cash. Plus, you’ll earn 5% cash back on the first $25,000 spent at office supply stores and on internet, cable, or phone services. With this card, you’ll earn 2% cash back for the first $25,000 you spend on purchases at gas stations and restaurants. Plus, you’ll receive an unlimited 1% cash back on all other purchases.
Benefits and Rewards with Ink Business CashIf you’re looking for a way to manage cash flow and earn cashback rewards, the Chase Ink Business Cash Card is a great option. Here is an overview of the benefits and rewards you’ll receive as a Chase customer:
- $0 annual fee
- 0% introductory APR for the first 12 months
- $500 cash back bonus for customers that spend $3,000 on purchases within three months of opening the account.
- 5% cash back for the first $25,000 spent on combined purchases on office supplies, internet, cable, and phone services per year.
- 2% cash back for the first $25,000 spent on combined purchases at gas stations and restaurants per year.
- Earn unlimited 1% cash back rewards on all other purchases.
- Employers can receive up to 70 employee cards for free.
Pros and ConsThe Chase Ink Business Cash Card won’t be the right option for everyone. Listed below are some of the biggest advantages and disadvantages to consider before applying for the card.
Pros of the Ink Business Cash Credit Card
- Generous signup bonus: The signup bonus alone makes this credit card a tempting offer. You’ll earn $500 cash back if you spend at least $3,000 within three months of opening the card.
- 0% introductory APR: The card comes with a 0% APR for the first 12 months, so you won’t rack up interest charges if you can’t pay the balance off right away.
- Earn thousands of dollars in cash back rewards: If you spend $25,000 a year on office supplies, internet, cable, or phone services, you could earn $1,250 cash back. And if you spend $25,000 a year at gas stations or restaurants, you could receive an additional $500.
- Not to mention, you’ll receive unlimited 1% cash back rewards on all remaining purchases. That’s thousands of dollars you can earn every year in cash back rewards on expenses you would have made anyway.
- No annual fee: Many business credit cards come with hefty annual fees, but that’s not the case with this card. You’ll earn valuable cash back rewards, with no fee required.
Cons of the Ink Business Cash Credit Card
- Limited cash back savings: Your 5% and 2% cash back rewards are capped at $25,000 per year. A cap isn’t unusual for a credit card, but if you spend more than that, you may be able to earn better rewards with another credit card.
- Spending categories restriction: With the Ink Business Cash Card, you’ll earn the highest rewards if you spend a lot of money on office supplies, phone, cable, internet services, restaurants, and gas stations. However, if you don’t spend a lot of money in these areas, your rewards will be minimal.
- Charges foreign transaction fees: This card won’t be the right choice if you regularly travel abroad because it comes with a 3% foreign transaction fee, which is much higher than what other cards come with.
- Excellent credit required: You’ll need excellent credit to qualify for this card.
Alternative Small Business Credit Cards
- Ink Business Preferred Credit Card: This is a great option for businesses that have higher spending needs and travel a lot for business.
- Capital One Spark Cash for Business: Businesses can earn a large sign-up bonus and generous cash back rewards with this card.
- American Express Business Gold Card: This credit card is a great option for business owners that want to earn travel rewards.