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The Ink Business Cash℠ Credit Card offers solid rewards for everyday business expenses, with a $0 annual fee.
Whether you’ve started a small business or you’re freelancing, a good business credit card can help you access a credit line and earn rewards.
The Ink Business Cash℠ Credit Card offers rewards on certain business expenses, a 0% intro APR on purchases and balance transfers for 12 months from account opening (with a variable 15.24% - 21.24% APR after that), and bonus cash for signing up. That’s all with a $0 annual fee, although there is a balance transfer fee of 5% (minimum $5).
But this card might not be the best fit for all small-business owners, depending on where they spend the most. Find out whether the Chase Ink Business Cash℠ Credit Card will give your business the best “ROI.”
|What we like||Heads up|
|APR||• 0% intro APR on purchases and balance transfers for 12 months from account opening. The fee for balance transfers is 5% (minimum $5)||
• Variable APR jumps to 15.24% - 21.24% on purchases and balance transfers after the introductory period ends
• Issuer may cancel your 0% APR if you make a late payment
|Fees and penalties||• $0 annual fee||• Foreign transaction fee: 3%|
• $500 cash back after spending $3,000 on purchases in the first 3 months from account opening
• 5% cash back on the first $25,000 spent in combined purchases at office-supply stores and on internet, cable and phone services each year (then 1% after)
• 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants per year (then 1% after)
• An unlimited 1% cash back on all other purchases
|• The two categories with the highest cash-back value are each capped at the first $25,000 in purchases in an account anniversary year, after which you earn only 1%|
• Employee cards at no additional cost
• Travel perks like legal and medical referral services and roadside assistance
• Purchase protection and extended warranties
- The rundown: Everything we like about the Ink Business Cash℠ Credit Card
- Heads up: What you should consider before applying for the Ink Business Cash℠ Credit Card
- Do the math: How to get the most out of the Ink Business Cash℠ Credit Card
- Bottom line: Is the Ink Business Cash℠ Credit Card right for you?
There are a lot of reasons to like the Ink Business Cash℠ Credit Card. Here are some of our favorites.
Rewards for everyday business expenses
Get a sign-up bonus of $500 cash back after spending $3,000 on purchases in the first 3 months from account opening.
You’ll earn ongoing rewards, too. You’ll get 5% cash back on the first $25,000 spent in combined purchases (then 1%) at office-supply stores and on internet, cable and phone services each account anniversary year. Whether you’re maintaining a physical or remote workspace, or you’re setting up employees with work cellphones, this may be especially appealing.
And you’ll earn 2% cash back on $25,000 spent in combined purchases (then 1%) at gas stations and restaurants per account anniversary year. This could be a useful perk for businesses that entertain clients and use gas for work purposes.
For all other purchases, you’ll earn unlimited 1% cash back.
It’s never ideal to carry a balance on a credit card, since interest charges have the potential to negate any rewards you might have earned. But this card offers a 0% intro APR on purchases and balance transfers for 12 months from account opening (after which you’ll see a regular variable APR of 15.24% - 21.24% on both). That means you won’t have to worry about interest on purchases and balance transfers — temporarily. (Though you will have to worry about a fee of 5% (minimum $5) on any balance transfers made.)
An intro APR offer may be ideal for businesses with irregular cash flow or for businesses that need capital up front. But a word of warning: If you run up a balance on the card in the first year, plan to pay it off in full before the intro APR period is over.
No annual fee
Not too many business cards that come with this many perks also come without an annual fee. It’s an attractive feature, especially if your new business is budget-conscious. Plus, you won’t need to worry about spending a certain amount to outweigh the cost of an annual fee. All your rewards come at no cost (as long as you don’t wind up paying interest charges).
Despite the Ink Business Cash℠ Credit Card’s perks, it’s not a clear winner for everyone.
Bonus rewards are capped
The spending cap on each bonus category is $25,000 per year, which might be plenty for some small businesses but not enough for others. After maxing out the categories, you’ll only earn a 1% cash back rate on those purchases for the remainder of the year. This is a fine-to-mediocre rate for a no-fee credit card, so you may want to look elsewhere and risk paying an annual fee if you plan to spend much more.
Categories may not fit your business
Other businesses may not spend that much on office supplies, dining and gas. If that’s more like your business, then the bonus categories probably won’t be as lucrative to you.
Finding another business credit card may score you the better “return on investment.” One option is the Ink Business Preferred℠ Credit Card , which offers some similar bonus categories but with a higher spending cap (at the cost of paying a $95 annual fee).
With the Ink Business Preferred℠ Credit Card, you’ll earn three points per $1 spent on up to $150,000 combined in bonus-category purchases each account anniversary year. Those include travel; shipping; advertising on social media and search engines; and internet, cable and phone services.
To get the most from this card, think about how your business spends its money and how you want to redeem rewards.
Max out the bonus rewards
To get the $500 sign-up bonus, your business would need to spend at least $3,000 on purchases in the first 3 months from account opening, so you’d probably want to use the Ink Business Cash℠ Credit Card on business expenses that fall into the bonus categories whenever possible.
To max out those categories, you’d need to spend $2,084 monthly at office-supply stores and on the select telecom services, plus a monthly $2,084 on dining and gas.
At the end of the year, the rewards earned from just the bonus categories alone could be redeemed for $1,750 cash back. And if you use some of that spending toward earning the sign-up bonus, you’d get a total $2,250.
Starting your own business is an exciting time. Finding the best business card for you will help you manage finances while earning rewards.
The Ink Business Cash℠ Credit Card is a good fit if your business spends a lot in office-supply stores and on telecom services, dining and gas purchases — especially if an introductory APR offer would help you.