Signing-up for credit cards through partner links earns us a commission. Here’s our full Advertising Policy.
The Ink Business Cash currently has the highest sign-up bonus (by far) that it’s ever had. If you’ve been thinking about opening the card, now is an excellent time!
The sign-up bonus is worth $500 in cash (50,000 Chase Ultimate Rewards points) after meeting minimum spending requirements. But if you know how to use the bonus, you can get MUCH more value!
Million Mile Secrets reader Kurt commented:
Do you earn cash or points with the Ink Business Cash Credit Card?
That’s a good question! And it can definitely be confusing. The short answer is you earn points which you can choose to redeem for cash. I’ll give you a full explanation!
Does the Ink Business Cash Earn Points or Cash?
Link: Ink Business Cash
Link: Ink Business Cash Review
But while the sign-up bonus is worth $500 in cash, you actually earn 50,000 Chase Ultimate Rewards points. And if you have the Chase Sapphire Preferred Card, Chase Sapphire Reserve, or Ink Business Preferred Credit Card, you can combine the points you earn from the Ink Business Cash, and redeem them for travel with transfer partners like Hyatt, Singapore Airlines, and United Airlines.
The card also comes with:
- 5% cash back (5X Chase Ultimate Rewards points) on the first $25,000 spent in combined purchases at office supply stores and on phone, internet and cable TV services each account anniversary year
- 2% cash back (2X Chase Ultimate Rewards points) on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
- 1% cash back (1X Chase Ultimate Rewards point) on all other purchases
- Primary car rental insurance (CDW) when renting for business purposes, covering damage or theft to your rental car when you pay with your Ink Business Cash card. Secondary coverage when renting for personal reasons
- NO annual fee
How to Turn Your Cash Into Big Travel
If you only hold the Ink Business Cash, the best value you can get from your points is 1 cent per point. But you can redeem them for travel at a much better rate if you have 1 of the following cards:
All you have to do is transfer the points you earn from the Ink Business Cash to one of those cards. Then you can buy travel through the Chase Ultimate Rewards Travel Portal for between 1.25 and 1.5 cents per point (depending on which card you have). Or move your points to valuable airline and hotel partners, like Hyatt and Southwest.
For example, you could transfer 35,000 Chase Ultimate Rewards points to United Airlines and fly round-trip from Seattle to Barbados in a coach! That seat could easily cost $800+ in cash. So you’re getting more than double the value you’d get from your points if you redeemed them for cash back ($800 flight/ 35,000 points = ~2.28 cents per point).
I’ll show you how to redeem your points for cash back. And if you’d rather earn Big Travel instead, I’ll show you how to turn the rewards you earn from the Ink Business Cash into transferable points!
Step 1. View Your Ink Business Cash Account Information
Step 2. Click the “Cash Back” Button
At the top of the page, you’ll see all the different ways you can redeem your points. If you’re interested in cash back, just find the “Cash Back” button!
You can then decide how many of your points you want to cash out. And where you’d like the cash deposited. You can choose to get a statement credit on your card, or a direct deposit into your linked bank account.
Remember, you’ll only get a value of 1 cent per point when you redeem your points for cash back.
Step 3. Click “Combine Points”
You’ll get a lot more value from your Ink Business Cash sign-up bonus if you transfer your points to either the Chase Sapphire Preferred, Chase Sapphire Reserve, or Ink Business Preferred, and redeem your points for travel instead of cash.
Near the top right of the page, click the link that says “Combine Points“.
Step 4. Transfer Points From Ink Business Cash
Select your Ink Business Cash in the left column, and either your Chase Sapphire Preferred, Chase Sapphire Reserve, or Ink Business Preferred in the right column. This will immediately allow you to transfer your points to airline and hotel partners.
But if you have the Chase Sapphire Reserve, it’s an even better deal. That’s because you’ll get a higher value of 1.5 cents per point through the Chase Ultimate Rewards Travel Portal.
Step 5. Use Your Points for Travel
Once your points have been combined, you can navigate to that card’s dashboard, and begin using your points for Big Travel. My favorite way is transferring them to travel partners. And doing so is easy! Check out my quick tutorial video.
The Ink Business Cash comes with a sign-up bonus of $500 cash (50,000 Chase Ultimate Rewards points) when you spend $3,000 in the first 3 months of account opening. That’s the highest bonus I’ve ever seen for this card!
However, you can get a LOT more value from the sign-up bonus when you have certain Chase cards. Because instead of redeeming your points for cash back at a value of 1 cent per point, you can use them for Big Travel with Small Money!
For example, you could transfer 50,000 points to the Chase Sapphire Reserve and buy $750 in travel through the Chase Ultimate Rewards Travel Portal. Or you can transfer your points to the Chase Sapphire Preferred and convert them into United Airlines miles for 2 round-trip flights to anywhere in the US.
How would you use the Ink Business Cash sign-up bonus? Do you prefer cash or travel?