Chase Ink Business Cash

If you’re just launching a new business venture or running a one-person shop, the Chase Ink Business Cash credit card might fit nicely into your plans. You don’t even have to be viewed as a formal business entity to acquire the card. Freelancers or folks with a side business can apply for the card without an Employer Identification Number (EIN), but a Social Security number and personal guarantee will be required. 

Membership in the Chase Ultimate Rewards program lets you easily redeem points for travel if you choose to go that route. With low expenses and an attractive rate for cardholders with excellent credit, the card is a stellar addition to any business arsenal, regardless of scale.

You can save plenty on purchases should your business expenses align with the highest-rewarding cash-back categories. The trick is to assess where you’ve spent in the past or where you’ll spend in the future. Hitting the right categories at the optimum levels will yield some automatic savings without having to track revolving expense groupings each quarter. 

If you plan to make a significant purchase prior to securing the card, it’s worthwhile to explore the possibility of financing that product or service through the Chase Ink Cash card, since the issuer offers no-interest financing for 12 months from the start.

Down to business with the Chase Ink Business Cash

  • APR: Variable APR of 14.99-20.99%, with an introductory offer of 0% on all purchases in the first 12 months. 
  • Annual Fee: $0 
  • Reward Rates: The Chase Ink Cash card features a 5% cash-back reward for office supplies, internet, phone and cable services, with 2% back on gas and restaurant purchases and 1% back on all other spending. 
  • Intro Offer: You’ll receive a $500 cash-back reward when you make $3,000 worth of purchases in the first three months.

Perks and features of the Ink Business Cash credit card from Chase

  • Auto rental damage waiver: If you rent a car, you can sign the physical damage waiver without any worry. The card automatically extends that coverage, which can cost up to $150 or so if you pay out of pocket. 
  • Travel and emergency services: If you get stranded or face obstacles away from home, the Chase Ink Cash card will put you in touch with legal or medical professionals that can help assist you with the situation. 
  • Extended warranty protection: If you were to purchase a computer that had a one-year warranty, Chase will add a year to the original manufacturer’s warranty if it’s three years or less in length. A $10,000 limit per claim applies.
  • Car rental rewards: Renting an automobile through Avis entitles you to discounts and one-class upgrades. A free day’s rental comes after you’ve rented with the company for 7 days.
  • Flexible redemption options: With your cash-back rewards, you can choose to receive a statement credit or redeem with gift cards from various e-commerce or big-box retailers.

Is the Chase Ink Business Cash credit card right for my business?

You will need to consider where and how much you’d spend with the Ink Business Cash Credit Card from Chase. Those 5% cash-back categories that apply max out at a combined $25,000 annually, so if you’re spending less than that amount on office supplies, cable, phone and Internet services, you’re getting one of the best reward percentages on the market. If you’re fee-conscious, scooping up a card with no annual fee and an easily attainable welcome bonus of $500 is difficult to resist.

Conversely, if you’re a large business that sails way beyond both the 5X categories and 2X bonuses on gas and dining, you could find a card that has higher annual caps in those spaces. Also, if travel expenses consume a big chunk of your budget, 1% cash back on those purchases isn’t going to cut it. Additionally, if you or your employees take trips abroad, the 3% fee on foreign transactions should give you pause. Thus, the Ink Business Cash card doesn’t land in the wheelhouse of businesses that have significant expenditures overall or rely heavily on travel to boost sales and revenue.

It’s not a bad idea to pair the Chase Ink Business Cash with another Chase card that fills some of these voids. Consider the Ink Business Preferred Credit Card that allows you to redeem accumulated points through the Chase Ultimate Rewards program. On that platform, you can turn in points for travel and gain an extra 25% in value. You can’t wield that power with the Ink Cash card. Once you max out your $25,000 caps on the cash-back side, you can turn to the Ink Business Unlimited Credit Card and receive 1.5% cash back on everything you purchase, without limit. For big business, leveraging a trio of Chase cards covers all the bases.

The bottom line

With no annual fee, the Ink Business Cash credit card strikes a chord for businesses under a certain revenue threshold especially those entities that don’t have an EIN. Those companies shelling out less than $25,000 in each of the premium bonus categories should view this card as a no-brainer. 

The Ink Business Cash Credit Card isn’t the best lid for every pot, however. Travel-oriented businesses will notice paltry rewards on airfare and hotels, and big spenders in its prescribed bonus categories will hit a wall when the multiplier bonuses cease at $50,000. A great strategy lies in the deployment of three Chase business cards that work well in combination to give you the best of three worlds.

Thom Tracy

Thom Tracy is a writer and consultant with 28 years of experience in the insurance and financial services industries.