Chase Ink Business Cash® Credit Card Review

In the landscape of business credit cards, the Chase Ink Business Cash® Credit Card stands out as a compelling option for small business owners looking to maximize their cash back rewards while minimizing costs. With targeted high-reward categories, a generous sign-up bonus, and no annual fee, this card offers a robust package of benefits that can help businesses optimize their spending.

Chase Ink Business Cash® Credit Card Key Takeaways

– Cash Back Rewards: Earn 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. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases.
– Sign-Up Bonus: Earn $350 after spending $3,000 on purchases in the first three months, and an additional $400 after spending $6,000 in the first six months.
– Intro APR: 0% fixed intro APR on purchases for the first 12 months.
– Regular APR: 18.49% – 24.49% variable APR.
– Fees: No annual fee, balance transfer fee of either $5 or 5% of the transfer amount, and cash advance fee of either $15 or 5% of the transaction amount.
– Credit Score Requirement: Good to Excellent (670-799).

Chase Ink Business Cash® Credit Card Pros and Cons

Pros

1. No Annual Fee: Many business credit cards come with an annual fee, but the Chase Ink Business Cash® Credit Card does not, making it a cost-effective option for small businesses.
2. Generous Cash Back Rates: The 5% and 2% cash back rates in specific categories can provide significant savings for businesses with high spending in those areas.
3. Sign-Up Bonus: The potential to earn $750 in the first six months is a substantial incentive for new cardholders.
4. Intro APR on Purchases: The 0% intro APR for the first 12 months can help businesses manage cash flow more effectively.
5. Travel Benefits: Includes auto rental collision damage waiver and travel and emergency assistance services.

Cons

1. Foreign Transaction Fee: A foreign transaction fee of 3% applies, which can add up for businesses that frequently make international purchases.
2. Spending Caps: The 5% and 2% cash back rates are limited to the first $25,000 spent annually in their respective categories, potentially limiting benefits for high spenders.
3. Low Rewards Rate Outside Bonus Categories: The 1% cash back rate on all other purchases is less competitive compared to some other business credit cards.

Chase Ink Business Cash® Credit Card Benefits

Cash Back Rewards

The Chase Ink Business Cash® Credit Card offers a tiered cash back rewards structure that can align well with the spending habits of many small businesses. Here’s a closer look at how the cash back system works:
– 5% Cash Back: This rate applies to the first $25,000 spent each account anniversary year on combined purchases at office supply stores and on internet, cable, and phone services. For businesses that rely heavily on these services, this can translate to significant savings.
– 2% Cash Back: This rate applies to the first $25,000 spent each account anniversary year on combined purchases at gas stations and restaurants. This is beneficial for businesses with frequent travel or meal expenses.
– 1% Cash Back: Applies to all other purchases with no cap, offering a steady rate on general spending.

Sign-Up Bonus

The sign-up bonus is another major highlight of this card. New cardholders can earn $350 after spending $3,000 on purchases in the first three months. Additionally, they can earn an extra $400 after spending $6,000 in the first six months. This means a potential total of $750 in bonus cash back within the first six months, which is a compelling incentive for new users.

Introductory APR

The 0% fixed introductory APR on purchases for the first 12 months allows businesses to make significant purchases upfront without the pressure of immediate interest charges. This can be particularly useful for businesses looking to invest in equipment, inventory, or other major expenses early on.

Travel Benefits

Even though the Chase Ink Business Cash® Credit Card is not primarily a travel card, it does include several travel-related benefits that can be very useful for business travelers:
– Auto Rental Collision Damage Waiver: Provides primary coverage when renting for business purposes, covering theft and collision damage for most vehicles in the U.S. and abroad.
– Travel and Emergency Assistance Services: Offers access to legal and medical referrals, as well as other travel and emergency assistance, which can be a lifesaver when unexpected issues arise while traveling.
– Roadside Dispatch: Provides 24/7 roadside assistance for emergencies such as a tow, jumpstart, tire change, lockout service, winching, or gas delivery, with fees billed to the card.

Additional Benefits

– Purchase Protection: Covers new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
– Extended Warranty Protection: Extends the time period of the U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less.
– Fraud Protection: Zero liability protection ensures that cardholders are not held responsible for unauthorized charges.

Conclusion

The Chase Ink Business Cash® Credit Card is an excellent choice for small business owners seeking to maximize their cash back rewards without incurring an annual fee. Its high cash back rates in specific categories, combined with a substantial sign-up bonus and a 0% intro APR for the first 12 months, make it a highly attractive option. However, businesses with significant international spending or those that exceed the $25,000 cap in bonus categories might find the foreign transaction fees and spending limits less appealing.
In summary, the Chase Ink Business Cash® Credit Card provides a comprehensive suite of benefits tailored to the needs of small businesses, with lucrative cash back opportunities and essential travel benefits. It’s a versatile card that can help manage business expenses efficiently while offering substantial rewards.