Is the Ink Business Cash Credit Card Worth It?

This card offers flexible rewards with no annual fee, but lacks some of the perks of other business cards.

Christie OlsenNovember 17, 2020
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Is the Ink Business Cash Credit Card Worth Its Annual Fee?

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The Ink Business Cash® Credit Card card offers business owners a variety of benefits and no annual fee. The card currently comes with a 0% intro APR on Purchases for 12 months, and then the ongoing APR of 13.24% - 19.24% Variable APR, which may be tempting to snag if you’re planning to make some large purchases for your business. However, it’s important to assess whether the perks from this card are worth taking up a 5/24 slot, which basically means you’ll be denied a new Chase credit card if you’ve opened five or more credit cards with any issuer in the past 24 months.

Here’s a closer look to help you decide if the Ink Business Cash® Credit Card is worth getting.

Valuable perks of the Ink Business Cash® Credit Card

The welcome bonus

The sign-up bonus is a draw and a decent welcome offer considering there is no annual fee: Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening

You also have the option to transfer your $500 cash bonus to another Chase credit card in the Ultimate Rewards® program, such as the Chase Sapphire Preferred® Card or Ink Business Preferred® Credit Card.

Bonus rates on business purchases

This card offers various earning options in some useful business categories with annual spending limits:

Earn 5% cash back on purchases from office supply stores and on internet, cable and phone services. The rate counts only toward your first $25,000 spent on combined purchases each account anniversary year.

Earn 2% cash back on combined purchases from gas stations and restaurants within each account anniversary year, limited to the first $25,000 spent. All other purchases fall under the 1% cash back, and there is no limit to the amount you can earn.

Nerd tip: If you max out your bonus spending of $25,000 in both the 5% and 2% categories, you will earn $1,750 cash back in a year — a considerable return for a no annual fee credit card.

Enticing redemption options

There are a variety of ways to utilize and maximize your rewards. First, you can link your eligible U.S. checking or savings account to the card to redeem for cash. You also have the option to receive your money back in the form of a statement credit, which could help pay down your balance. And with no minimums to redeem cash back rewards, this could count toward your monthly payment if you’re strapped for cash.

Just because this is a cash back credit card doesn’t mean you have to limit your rewards to cash. Other redemption options include:

  • Gift cards: You can purchase gift cards for yourself, your clients or employees and Chase offers over 150 gift card brands.

  • Apple Ultimate Rewards: You can use your points to pay for all or part of your Apple purchases.

  • Travel: Through Chase Ultimate Rewards®, you can book your travel to redeem for airline tickets, hotel stays or rental cars.

  • Amazon: You can shop with points at Amazon to purchase essentials for your business.

One significant perk about being a Chase credit cardholder is the ability to pool your rewards between credit cards. Redemption options significantly increase when you combine your points with the higher-level cards including the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve®.

Additional perks

Credit card perks definitely come in handy when running a business, and Chase offers an abundance of them. With the Ink Business Cash® Credit Card, you’ll get employee cards at no additional cost, with these, you can set individual spending limits. Plus, you’ll automatically earn rewards from your employee purchases.

You also get built-in protections with the auto rental collision damage waiver, purchase protection for new items, extended warranty, zero liability protection and automatic fraud alerts.

The bottom line

The Ink Business Cash® Credit Card is a decent choice for small businesses with unpredictable cash flow, low spending needs and no significant travel expenses. Although other business cards offer more solid rewards, this card won't weigh too heavily on entrepreneurs whose spending doesn’t justify a card with an annual fee.

How to Maximize Your Rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2020, including those best for:

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