Chase Ink Cash Business Card Review

The Chase Ink Cash Business Card is a rewards credit card which specifically targets small business owners. It offers flexible rewards along with no annual fee. Employee cards are available at no additional cost. This card currently offers a generous signup bonus to new members. There is also an introductory APR offer on purchases and balance transfers.

New cardholders can receive 20,000 bonus points which can be redeemed for $200 cash back. To qualify, you must make at least $3,000 in eligible purchases during the first three months that your account is active. Eligible purchases are the total amount of transactions minus any fees, credits, or returns. Balance transfers, cash advances, as well as cash-like transactions such as money orders, foreign currency, and traveler’s checks are not considered eligible purchases. Once you meet the spending threshold it may take 6-8 weeks for the bonus points to post to your account.

New members can take advantage of a 0% introductory APR on purchases and balance transfers which is good for the first 12 billing cycles that your account is open. After this promotional period ends, an APR of 13.24% (variable based on the Prime Rate) will be applied to both purchases and balance transfers. Additionally, a balance transfer fee of either $5 or 5% of the total amount of the transfer (whichever is greater) will be charged for each completed balance transfer.

Members earn cash back rewards at the following rates:

  • Earn 5% cash back on purchases made at office supply stores and on internet, cable, and landline services (capped at $25,000 in combined purchases annually). Amounts over the cap earn 1% cash back for the remainder of the year.
  • Earn 2% cash back on purchases made at restaurants and gas stations (capped at $25,000 in combined purchases annually). Amounts over the cap earn 1% cash back for the remainder of the year.
  • Earn 1% cash back on all other purchases (with no limit on what you can earn).

Points do not expire as long as your account remains open.

Members can redeem rewards through Chase Ultimate Rewards. Options include:

  • Cash back – Redeem for cash back as a statement credit or have it directly deposited to most U.S. checking and savings accounts. Redemptions for cash back are valued at 1:1 starting at 2,000 points for $20 cash back.
  • Travel – Redeem for flights on most major airlines, cruises, or vacation packages. There are no restrictions or blackout dates on airfare booked through Chase Ultimate Rewards.
  • Gift Cards – There are more than 70 merchants available including The Home Depot and Macy’s.

The Chase Ink Card offers these benefits especially designed for small business owners:

  • Set and change individual spending limits on employee cards
  • Snap, tag, and file receipts instantly using the mobile app available to Ink customers
  • Receive instant alerts for every purchase

Cardholders receive these benefits from Chase:

  • Purchase Protection – Covers new purchases for 120 days against theft or damage up to $10,000 per claim and $50,000 per account
  • Extended Warranty Protection – Extends the time period of a U.S. manufacturer’s warranty by an additional year (warranties of three years or less)

This card comes with smart-chip technology for enhanced security.

Members are charged foreign transaction fees of 3% on all purchases made while traveling outside of the U.S.

There is no annual fee associated with this card.

The Facts

Below we have broken down the details of the Chase Ink Cash Business Card to help you determine if it’s the right card for you.

The Good:

Signup bonus:

New cardholders can receive 20,000 bonus points which can be redeemed for $200 cash back. To qualify, you must make at least $3,000 in eligible purchases during the first three months that your account is active. Once you meet the spending threshold it may take 6-8 weeks for the bonus points to post to your account.

Important: Eligible purchases are the total amount of transactions minus any fees, credits, or returns. Balance transfers, cash advances, as well as cash-like transactions such as money orders, foreign currency, and traveler’s checks are not considered eligible purchases.

Introductory APR:

New members can take advantage of a 0% introductory APR on purchases and balance transfers which is good for the first 12 billing cycles that your account is open. After this promotional period ends, an APR of 13.24% (variable based on the Prime Rate) will be applied to both purchases and balance transfers. Additionally, a balance transfer fee of either $5 or 5% of the total amount of the transfer (whichever is greater) will be charged for each completed balance transfer.

This offer provides an excellent opportunity to purchase a big-ticket item and pay it off over a full year without incurring any interest charges. You can also transfer existing high-interest credit card debt and pay it down (or completely off) over 12 months – again, without any finance charges.

Good rewards program:

Members earn cash back rewards at the following rates:

  • Earn 5% cash back on purchases made at office supply stores and on internet, cable, and landline services (capped at $25,000 in combined purchases annually). Amounts over the cap earn 1% cash back for the remainder of the year.
  • Earn 2% cash back on purchases made at restaurants and gas stations (capped at $25,000 in combined purchases annually). Amounts over the cap earn 1% cash back for the remainder of the year.
  • Earn 1% cash back on all other purchases (with no limit on what you can earn).

Rewards do not expire as long as your account remains open and active.

Easy to redeem rewards:

Members can redeem rewards through Chase Ultimate Rewards. Options include:

  • Cash back – Redeem for cash back as a statement credit or have it directly deposited to most U.S. checking and savings accounts. Redemptions for cash back are valued at 1:1 starting at 2,000 points for $20 cash back.
  • Travel – Redeem for flights on most major airlines, cruises, or vacation packages. There are no restrictions or blackout dates on airfare booked through Chase Ultimate Rewards.
  • Gift Cards – There are more than 70 merchants available including The Home Depot and Macy’s.

Benefits for small business owners:

  • Set and change individual spending limits on employee cards
  • Snap, tag, and file receipts instantly using the mobile app available to Ink customers
  • Receive instant alerts for every purchase

Chase benefits:

  • Purchase Protection
  • Extended Warranty Protection

Smart-chip technology:

This feature provides enhanced security when making transactions at a chip-enabled terminal.

No annual fee:

There is no annual fee for this card.

The Bad:

Foreign transaction fees:

Members are charged a 3% foreign transaction fee on every purchase made while traveling internationally.

The Ugly:

Bonus rewards are tied to specific categories:

If your business does not spend a large amount each year on office supplies or internet, cable, and landline services, you may find it hard to maximize your rewards.

Spending caps on bonus categories:

The 5% cash back category comes with a spending cap of $25,000 in combined annual purchases at office supply stores and on internet, cable, and landline services. The 2% cash back category has the same spending cap on purchases made at restaurants and gas stations. Any purchases over this spending cap only earn 1% cash back for the remainder of the year. If your business routinely has annual expenditures over this amount you could be losing out on a lot of rewards.

Doesn’t reward frequent travelers:

Travel purchases earn a meager 1% with this card. If you routinely travel for business you may want to consider a card that offers a higher rewards rate on travel purchases.