Ink Business Cash® Credit Card
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Written by: Anthony Venture on July 2nd, 2024.
The Chase Ink Business Cash Credit Card is a versatile and rewarding option for small business owners looking to earn cash back on everyday expenses. With no annual fee, competitive cash back rates, and a generous sign-up bonus, this card provides significant value while helping to manage business finances efficiently.
Key Benefits:
Welcome Offer: Earn $350 when you spend $3,000 on purchases in the first 3 months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening.
Rewards Structure:
5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year.
2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.
1% cash back on all other purchases with no limit to the amount you can earn.
Annual Fee: $0
APR: 0% introductory APR for 12 months on purchases, then a variable APR of 18.49% - 24.49%.
Additional Benefits:
10% Business Relationship Bonus: Receive a 10% bonus on your total purchases made with the Ink Business Cash credit card in the first year if you have a Chase business checking account.
Application Requirements:
Gross Annual Income: Must report total gross annual income, which includes income from all sources.
Legal Business Structure: Can apply as an LLC, Partnership, or Sole Proprietorship.
Business Category: Must select a business category that closely matches your business type.
Estimated Monthly Spend: Must provide an estimated monthly spend amount for the business.
Additional Information:
5/24 Rule: Chase will not approve you for most of its cards if you have opened 5 or more personal credit cards (from any issuer) within the last 24 months.
Minimum Credit Line: If approved, the minimum credit line is $1,100.
Adding Employee Cards: Option to add employee cards at no additional cost.
Paperless Statements: Option to enroll in paperless statements for convenience and environmental benefits.
My Opinion
The Chase Ink Business Cash Credit Card is a great option for small businesses, offering substantial cash back on common expenses without an annual fee. Its high rewards rates and strong introductory offer provide significant value, though businesses with high spending in capped categories may find the rewards limited once the cap is reached. Overall, it's a competitive and cost-effective choice for managing business expenses
SOURCES: https://creditcards.chase.com/business-credit-cards/ink/cash
