Chase Ink Cash® Business Card – Review


Small business owner?  Looking for a line of credit as well as helpful tools to manage your business?

Take a serious look at the Ink Cash® Business Card.

Here’s a card for your small business offering a nice introductory bonus right now.  This one’s a credit card (as opposed to the Ink Bold® Business card which is a charge card and you must pay in full every month) and it has the added benefit of no annual fee.

Reward Yourself With Cash


Here’s how the cash back from your purchases works:

First of all, you will earn 1 point per dollar spent on ALL purchases, with no limits to how many points you can earn.  That’s 1% cash back.

Then, you earn an additional 4 points for a total of 5 points per dollar spent on up to $25,000 in purchases at office supply stores and on cell phone, landline, internet and cable TV services.  That’s 5% cash back.

Get one point extra for a total of 2 points per dollar on up to $25,000 spent at gas stations and at restaurants.  That’s 2% cash back.

Get one point extra for a total of 2 points per dollar when you buy plane tickets, hotel and more at the Ultimate Rewards site.  There is no maximum number of points you can earn on these purchases.  Again, 2% cash back on these purchases, and you can earn even more back than that with special offers at the Ultimate Rewards site.

Each point is worth .01 cent in cash back rewards.  So, if you have 5,000 points, it can be redeemed for a $50 check.

You can see you not only get cash back on all of your purchases but you have ample opportunities to earn bigger cash back rewards.

These points never expire.  So you don’t have to ever worry about losing the cash back you’ve earned.

And let’s not forget the $200 bonus cash back you earn once you spend $3,000 in the first three months of opening your account!

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It takes 6 to 8 weeks for the bonus 20,000 points to post to your account.  After that, you can redeem it for cash back or gift cards through the Ultimate Rewards site.  To be eligible for this bonus offer, your account must be open and not in default at that time.  If you have the card currently or have had it in the past, you won’t be eligible for the bonus offer.

APR

You get a 0% introductory APR for the first 6 months for your purchases and balance transfers.  That’s a nice start if you have business expenses you need to make or a ba;ance on another card.  After the intro. period, it’s at a variable APR of 13.24%.

The default APR is 29.9%.  So, if you pay late, you’re getting hit with a major penalty.  So it should go without saying: don’t use this card unless you know you will pay all your bills on time!

Remember, the points you earn basically mean zilch if you’re paying interest, which we all know can get so, so financially dangerous over time.

Some Nice Perks (Besides the Cash Rewards)

Cash rewards with Ink Cash

It’s nice to get cash rewards when you make business purchases!

This card offers free cards for any and all of your employees to use, so you can earn your rewards faster from all of your business spending.

The card also offers free email and text alerts (not including any charges from your phone company) to help track your employees’ expenses in real time as well as quarterly reports so you can analyze your overall spending..

The absence of an annual fee is definitely a plus as well.

How it Compares with Other Chase Business Cards

Unlike other Chase business cards – namely Ink Bold®, Ink Plus® (both cards with annual fees) and Ink Classic® — you cannot redeem your points at the Ultimate Rewards site for travel or hotel accommodations.  With the Ink Bold and Ink Plus, not only can you do this but you also get a 20% discount and you can transfer your points 1:1 to other travel rewards programs.

BUT if you have any of the above Chase cards you can always transfer any number of points from this (Ink Cash) card to them in order the get all the rewards THEY offer.

Basically, this card is more of a straight-forward cash rewards card rather than one with travel rewards.

Conclusion

Is this a good card for a small business owner?

It could be if you want cash back for your purchases and you aren’t interested in travel rewards.  And if your employees dine out a lot, and/or spend a lot of money on gas and at office supply stores, this may be a card that earns a lot of cash back for you.

Since there’s no fee, there’s usually not a ton of risk involved trying it to see if it works for you (and getting a free $200).  The fact that you can transfer the points to other Chase cards that may offer better rewards lowers that risk even further.

This is a nice cash rewards card for the small business owner with lots of options to earn more points that also doesn’t have an annual fee.

*As you always should, make sure you read through the card details to make sure this card fits your needs and you understand the terms and conditions. Be aware that the terms may change after this article’s publication.

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Published or updated March 2, 2014.

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