The Ultimate Guide to the Ink Business Cash Credit Card
Are you a small business owner looking for a credit card that offers generous cash back rewards without an annual fee? Look no further than the Ink Business Cash Credit Card.
1. Introduction
The Ink Business Cash Credit Card is a no-annual-fee cash-back credit card designed specifically for small businesses. It offers competitive cash back rates on a variety of business expenses, making it an attractive option for business owners who want to maximize their rewards. While the card primarily focuses on office supplies and select utilities, it also offers rewards on gas station and restaurant purchases.
With its straightforward redemption options and the ability to transfer rewards to other Chase cards, the Ink Business Cash Credit Card provides flexibility and value for small business owners.
Ink Business Cash Credit Card
2. Welcome Offer
One of the standout features of the Ink Business Cash Credit Card is its generous welcome offer. Currently, new cardholders can earn $900 bonus cash back after spending $6,000 on purchases within the first three months of account opening. This welcome offer provides a significant boost to your rewards balance right from the start, allowing you to maximize your cash back potential.
3. Benefits and Perks
The Ink Business Cash Credit Card offers several benefits and perks that can enhance your overall cardholder experience. Here are some notable ones:
Employee Cards
As a business owner, you can request additional employee cards for your team members at no additional cost. This allows you to earn rewards on their spending and set individual spending limits for greater control and accountability.
Purchase Protection and Extended Warranty
When you use your Ink Business Cash Credit Card to purchase eligible items, you’ll receive purchase protection and extended warranty coverage. Purchase protection covers your new purchases for 120 days against damage or theft, providing peace of mind. Additionally, the extended warranty protection extends the manufacturer’s warranty by an additional year on eligible warranties of three years or less.
Auto Rental Collision Damage Waiver
When you rent a car and charge the entire rental cost to your Ink Business Cash Credit Card, you’ll be eligible for the auto rental collision damage waiver. This coverage protects you against theft and collision damage, providing primary coverage when renting for business purposes. This benefit can save you money by allowing you to decline the rental company’s collision insurance.
Travel and Emergency Assistance
Whether you’re traveling domestically or internationally, the Ink Business Cash Credit Card offers access to travel and emergency assistance. This service provides legal and medical referrals, as well as other travel-related assistance when needed. While you are responsible for any costs incurred, having this support can be invaluable during unexpected situations.
Zero-Liability Protection
With zero-liability protection, you won’t be held responsible for unauthorized charges made with your Ink Business Cash Credit Card. Chase provides real-time fraud monitoring to help safeguard your account and minimize the risk of fraudulent activity.
4. Earning Rewards
The Ink Business Cash Credit Card offers a tiered cash back rewards structure that allows you to earn more on certain spending categories. Here’s how it works:
5% Cash Back Categories
With the Ink Business Cash Credit Card, you can earn 5% cash back on the first $25,000 spent each account anniversary year at office supply stores and on internet, cable, and phone services. This category is especially beneficial for businesses that frequently purchase office supplies or have significant expenses related to internet, cable, and phone services.
2% Cash Back Categories
In addition to the 5% cash back categories, the Ink Business Cash Credit Card also offers 2% cash back on the first $25,000 spent each account anniversary year at gas stations and restaurants. This category is ideal for businesses that have regular gas and dining expenses, allowing you to earn cash back on these everyday purchases.
1% Cash Back on All Other Purchases
For all other purchases that don’t fall into the 5% or 2% categories, you’ll earn 1% cash back. While this rate may seem lower compared to the bonus categories, it still provides ongoing rewards on all your business expenses.
5. Redeeming Rewards
Redeeming your cash back rewards with the Ink Business Cash Credit Card is simple and straightforward. Here are the redemption options available to you:
Cash Back
As a cash-back credit card, you have the option to redeem your rewards for cash. You can receive your cash back as an account statement credit or through an electronic deposit into an eligible U.S. checking or savings account. This allows you to use your rewards to offset business expenses or reinvest them back into your business.
Gift Cards
Another redemption option is to convert your cash back rewards into gift cards. The Ink Business Cash Credit Card offers a variety of popular gift card options, allowing you to use your rewards for personal or business-related purchases.
Travel
While the Ink Business Cash Credit Card is primarily a cash-back card, you can also redeem your rewards for travel. However, it’s important to note that the travel redemption options may provide less value compared to cash back or gift cards.
6. Transferring Rewards
One of the unique benefits of the Ink Business Cash Credit Card is the ability to transfer your cash back rewards to other Chase cards that earn Ultimate Rewards points. By transferring your rewards, you can potentially increase their value and access additional redemption options. Here’s how it works:
Pairing with Other Chase Cards
If you have another Chase card that earns Ultimate Rewards points, such as the Ink Business Preferred Credit Card, Chase Sapphire Reserve, or Chase Sapphire Preferred Card, you can transfer your cash back rewards from the Ink Business Cash Credit Card to that card. This allows you to combine your rewards and take advantage of the higher redemption values offered by these cards.
Enhanced Redemption Options
Once you transfer your cash back rewards to an Ultimate Rewards-earning card, you can unlock a range of redemption options. You can transfer your points to airline and hotel travel partners, book travel directly through the Chase portal, or even redeem for unique experiences. These enhanced redemption options provide greater flexibility and potentially higher value for your rewards.
7. Recommended Credit Score
To be eligible for the Ink Business Cash Credit Card, it is recommended to have a credit score of 670 or above. While this is the recommended score, it’s important to note that creditworthiness is not solely determined by your credit score. Factors such as income, debt-to-income ratio, and credit history also play a role in the approval process.
8. Competing Cards
While the Ink Business Cash Credit Card offers competitive rewards and benefits, it’s always worth considering other options to ensure you’re choosing the best card for your business. Here are a few competing cards to consider:
Ink Business Preferred Credit Card
If your business has significant travel expenses, the Ink Business Preferred Credit Card may be a better fit. With its higher annual fee, the Ink Business Preferred offers enhanced rewards on travel, shipping purchases, internet, cable, and phone services, as well as advertising purchases with social media sites and search engines. This card provides more comprehensive travel benefits and a wider range of redemption options.
Bank of America Business Advantage Customized Cash Rewards Mastercard
If your business spends more than $25,000 per year in combined purchases, the Bank of America Business Advantage Customized Cash Rewards Mastercard may be worth considering. This card offers similar spending categories to the Ink Business Cash Credit Card and has no annual fee. It provides flexibility and the opportunity to earn cash back on a variety of business expenses.
9. Is the Ink Business Cash Worth It?
The Ink Business Cash Credit Card is worth considering for small business owners who spend less than $25,000 per year in combined purchases and want to maximize their cash back rewards. With its competitive rewards structure, no annual fee, and the option to transfer rewards to other Chase cards, this card offers significant value. However, if your business spending doesn’t align with the bonus categories or if you have higher travel expenses, there may be better options available.
10. How to Apply
Applying for the Ink Business Cash Credit Card is a straightforward process. You can visit the Chase website or visit a local branch to complete the application. To increase your chances of approval, ensure that you meet the recommended credit score and have all the necessary documentation ready, including your business information and financial details.
11. Conclusion
The Ink Business Cash Credit Card is a powerful tool for small business owners who want to earn cash back rewards on their everyday expenses. With its competitive rewards structure, no annual fee, and the option to transfer rewards to other Chase cards, this card offers flexibility and value. By considering your business spending habits, comparing competing cards, and evaluating your redemption preferences, you can determine if the Ink Business Cash Credit Card is the right fit for your business. Apply today and start maximizing your cash back rewards.