For years, the Chase Ink Business Cash® Card has been a top contender among small business credit cards. This powerhouse offers a variety of benefits that make it a must-have for entrepreneurs. Let’s dive into why this card is still one of the best options on the market.
A Rewarding Experience
First and foremost, the Chase Ink Business Cash® Card earns you Chase Ultimate Rewards® points. While it’s advertised as a cash back credit card, these points can be redeemed for cash or used for free hotel stays, airfare, rental cars, and more. The flexibility is unmatched.
The welcome bonus alone is enough reason to consider this card. You’ll earn a generous amount of bonus miles, leaving other annual fee credit card bonuses in the dust. Plus, the Chase Ink Business Cash® Card earns between 2% and 5% cash back on common business expenses, which is well above average.
TIME’s Take
TIME Magazine considers the Chase Ink Business Cash® Card one of the most powerful earners in the rewards credit card market. With generous spending bonuses and an impressive welcome bonus, this card is a game-changer. And despite its annual fee, it still packs a punch.
Chase Ink Business Cash vs Unlimited
If you’re torn between the Chase Ink Business Cash® Card and the Chase Ink Business Unlimited® Card, here’s a breakdown of their key differences:
- The Chase Ink Business Cash® Card offers higher cash back rewards for office supplies/services and gas stations/restaurants, while the Chase Ink Business Unlimited® Card offers a flat cash back rate on all business-related purchases.
- Both cards have intro APR offers, but the specifics may vary.
Pros & Cons
The Chase Ink Business Cash® Card comes with several advantages:
- Up to 5% cash back on common business purchases.
- The card is exclusively available to small business owners.
However, there are a few downsides to keep in mind:
- Bonus spending categories have annual caps.
- Cash back can be converted into travel rewards, making it less suitable for those who prefer cash back.
Who is the Card For?
The Chase Ink Business Cash® Card is designed for small business owners. Whether you have a traditional business or a side hustle, this card can work for you. With its annual fee, it’s an excellent choice if you’re not ready to make a big upfront investment for significant benefits.
Moreover, if you’re interested in travel, you’ll enjoy the ability to convert your rewards into airline miles and hotel points. This feature opens up a world of nearly free travel possibilities.
Rewards Structure
The rewards structure of the Chase Ink Business Cash® Card is impressive:
- Up to 5% cash back on Lyft rides through March 2025.
- Up to 5% cash back on selected business expenses such as office supplies and internet/cable/phone services for the first $25,000 spent each year (then 1%).
- Up to 2% cash back on gas station and restaurant purchases for the first $25,000 spent each year (then 1%).
- 1% cash back on all other eligible purchases.
Earning such generous rewards for common expenses is a big deal, especially for a no annual fee credit card. The possibilities are endless, and you can use your points for cash back, gift cards, or even free travel through Chase transfer partners.
The Fine Print
While the Chase Ink Business Cash® Card doesn’t charge an annual fee, there are other fees associated with it. These include foreign transaction fees, balance transfer fees, cash advance fees, late payment fees, and return payment fees. Additionally, your interest rate will depend on your creditworthiness. It’s important to pay your balance in full each month to avoid interest charges.
Additional Hidden Perks
The Chase Ink Business Cash® Card offers more than just rewards. Here are some additional perks you’ll enjoy:
- Intro APR offer: Enjoy a special introductory APR for the first year, giving you a chance to carry a balance without incurring interest.
- Primary rental car insurance: Get coverage when renting a car for business purposes.
- Purchase insurances: Benefit from purchase protection and extended warranty protection.
- Travel and emergency assistance services: Access a hotline that offers translation services, help with visas and lost passports, and more.
- Roadside Dispatch: Arrange for services like jumpstarts, tire changes, and towing when needed.
What Could be Improved
The Chase Ink Business Cash® Card is generally cardholder-friendly. However, one area that could be improved is the annual bonus category caps. If your spending exceeds these caps, your return rate will be limited. Additionally, offering 0% intro APR on balance transfers as well as purchases would be a welcome improvement.
Card Alternatives
The Chase Ink Business Cash® Card stands out among other small business credit cards. If your spending aligns with its bonus categories, you’ll find that it’s the fastest way to accrue Chase Ultimate Rewards points. However, it’s always good to explore your options and find the best fit for your business.
Frequently Asked Questions (FAQs)
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Is the Chase Ink Business Cash® Card worth it?
Absolutely! With its lucrative rewards and modest annual fee, this card is a great choice for any small business owner. -
What is the fee for the Chase Ink Business Cash® Card?
The Chase Ink Business Cash® Card has an annual fee. -
How do you qualify for the Chase Ink Business Cash® Card?
To qualify, you must operate a small business. This can include various side-gigs and freelance work.
For more information and to apply for the Chase Ink Business Cash® Card, visit Personal Finances Blog. It’s time to take your small business to new heights with this fantastic credit card!