Chase Ink Business Cash credit card review

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Looking for a great small business card with a huge intro bonus? Here’s an offer you shouldn’t miss.

The Ink Business Cash℠ Credit Card comes with an all-time-high welcome bonus of $500 cash back (50,000 Chase Ultimate Rewards points) after meeting minimum spending requirements. This offer is especially awesome because the card has no annual fee.

You can apply for the Ink Business Cash Credit Card here.

We’ll show you how you can get even more value out of this card when paired with other Chase travel cards, like the Chase Sapphire Reserve®, where the bonus can be worth $750 or more in travel rewards. Here’s everything you need to know about the Ink Business Cash Credit Card.

Who is this card for?

The short answer is, this card is for anyone who likes cash.

The Ink Business Cash card is a small business credit card. This deters many from applying, but you should know that qualifying for a small business card isn’t difficult — you don’t need a multi-million dollar corporation to be eligible. Selling items on eBay or Etsy, freelancing, tutoring, etc. counts as a small business.

The application will ask you several questions about your business. If you don’t have an EIN (Employee Identification Number), you can apply as a sole proprietor with just your Social Security Number. Here’s our full step-by-step guide for how to complete a Chase business card application.

Like most Chase credit cards, the Ink Business Cash is affected by the Chase 5/24 rule. If you’ve opened five or more cards from any bank (not counting certain business cards) in the past 24 months, you won’t be approved for this card.

Current bonus

The Ink Business Cash Credit Card offers a $500 cash back (50,000 Chase Ultimate Rewards points) welcome bonus after spending $3,000 on purchases in the first three months of account opening. On their own, you can redeem 50,000 Chase points for $500 in cash back or paid travel through the Chase Travel Portal at a rate of 1 cent per point. But if you combine your points with any of the below Chase Ultimate Rewards point earning credit cards, you can get significantly more value:

• Chase Sapphire Reserve:   Points are worth 1.5 cents each, making the welcome bonus worth $750
• Ink Business Preferred Credit Card and Chase Sapphire Preferred:   Points are worth 1.25 cents each, making the welcome bonus worth $625

And even better, if you move your points to one of the cards mentioned above, you’ll be able to redeem them with Chase transfer partners, like United Airlines, Singapore Airlines, and Hyatt.

All these things considered, we estimate Chase points value to average 2 cents each. You should have no problem receiving ~$2,000 in value from this card’s bonus, so long as you also have one of the above cards.

Benefits & perks

It’s not all about the points, because this card offers valuable travel benefits and purchase protections to keep you and your business moving without any worries.

Primary auto rental insurance

With the Ink Business Cash Credit Card, you’ll get primary auto rental insurance when you rent for business purposes, decline the rental company’s collision insurance, and charge the entire rental cost to your card. This only includes coverage on your rental vehicle, not damage to other vehicles or injuries.

Roadside assistance

Roadside assistance for say, a flat tire, isn’t the first thing that comes to mind when I think of credit card perks, but the Ink Business Cash has you covered here as well. If you don’t have roadside assistance on your auto insurance, you’ll be glad to know that you can call Chase’s roadside assistance at 800-847-2869 to get help.  And roadside dispatch can help you with more than just a flat tire!  They can also help with:

• Towing services
• Jump starting your car
• Lockout service
• Winching
• Gas delivery

Extended warranty protection

This benefit will extend the time period of a U.S. manufacturer’s warranty on eligible purchases with the card for an additional year. Eligible warranties are those of three years or less.

Purchase protection

When you pay with the Ink Business Cash, eligible new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account. There are specific time limits and documentation requirements.

No cost employee cards

Adding employee cards to your account is simple and free. You can even set individual employee spending limits for better control over your business. Allowing your employees to use a card for purchases like office supplies helps simplify your business by not worrying about issuing cash or reimbursement checks, and it’s a great way to earn points faster.

How to redeem points

The outstanding welcome bonus is just the beginning. You can earn points on your everyday spending, and you’ll earn bonus points on common business expenses. With the Ink Business Cash, you’ll earn:

• 5% cash back (5 Chase Ultimate Rewards points per dollar) 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 (2 Chase Ultimate Rewards points per dollar) on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
• 1% cash back (1 Chase Ultimate Rewards point per dollar) on all other purchases

This should be your default card to use for phone, internet, cable TV, and office supplies because you will be earning a massive 5 Chase points (or 5% cash back) per dollar spent on your first $25,000 spent in combined purchases in this category each year. It’s an excellent way to quickly boost your Chase Ultimate Rewards points balance from expenses you probably already have.

The Ink Business Cash card is designed as a cash-back card with your points being worth 1 cent each. You can redeem cash back as either a statement credit on your card or as an electronic deposit to a savings or checking account at any bank. Keep in mind that the statement credit will go towards lowering your account balance, but does not lower your minimum monthly payment (although we recommend paying your card off in full each month anyway).

You can also redeem your points for travel or gift cards but they are still worth 1 cent each, so it really doesn’t make much sense to bother with these redemption options. It’s easier to just use your card for the purchase and offset the charge with a cash-back statement credit.

The best point value comes by transferring your Chase Ultimate Rewards points to an annual-fee Chase Ultimate Rewards travel card (like the Chase Sapphire Preferred). As mentioned earlier, after transferred, you can redeem your points for the same value as other points earned on that card. This can be up to 1.5 cents each (50% more value) on the Chase Sapphire Reserve card (when redeemed through the Chase Travel Portal).

And transferring points to these other cards also allows you to then move your points to any of Chase’s travel partners — that’s where the real value comes from.

Is the annual fee worth it?

This card has no annual fee, making it a great addition to your wallet. Without an annual fee, these bonuses and perks feel even better, and it allows you to keep your card open forever, without needing to justify any additional costs.

Insider secrets

It’s true that you can’t open this card if you’ve opened five or more credit cards (excluding certain small business cards) within the past 24 months. However, the card doesn’t add to your Chase 5/24 count, because it won’t appear on your personal credit report. This means you can apply for as many Chase small business cards as you like, and stay under 5/24.

Bottom line

The Ink Business Cash is a great card for small business owners looking for a business card without an annual fee. You’ll earn a $500 cash bonus (50,000 Chase Ultimate Rewards points) after spending $3,000 on purchases in the first three months of account opening. This is the highest bonus we’ve ever seen on this card.

You can get far more than $500 in value from the bonus if you also have an annual-fee Chase Ultimate Rewards card, like the Chase Sapphire Preferred Card, Chase Sapphire Reserve, or Ink Business Preferred Credit Card. By combining points to one of these cards, your points are worth more when you redeem them for travel through the Chase Ultimate Rewards travel portal. You’ll also be able to transfer them to Chase’s excellent travel partners, like United Airlines and Hyatt.

You might qualify for this card without even realizing it. If you do any side projects or consulting work for profit, you can apply with just a Social Security Number as a sole proprietor. You can get approved with just your personal credit history. While the Chase 5/24 rule does apply to the Ink Business Cash, it doesn’t show up on your personal credit report, so it won’t add to your 5/24 count.

You can apply here for the Ink Business Cash Credit Card. And subscribe to our newsletter for more travel and cashback credit card reviews.