The Chase Ink Cash Business credit card is one of the most popular credit cards currently available for small business owners. The Ink Cash Business credit card’s primary feature is a generous cash back reward program that returns a very high percentage of the money that you spend on common business purchases, up to a maximum of 5 percent.
Chase charges new Ink Cash Business cardholders no interest on purchases or balance transfers for the first year. If you spend $3,000 in the first three months after opening your account, Chase will also give you a cash back bonus of $300.
Cash Back Bonuses
- 5 percent: bonus cash back for up to $25,000 in yearly purchases made on mobile phone service, terrestrial telephone service, Internet service, cable TV service and office supplies
- 3 percent: bonus cash back for up to $25,000 in yearly purchases made on fuel or at restaurants
- 1 percent: bonus cash back — with no limit — on any other purchase
If you prefer, you can trade your available cash back bonuses to Chase for other rewards. Some of the rewards that Chase offers include:
- Adventures: Go on excursions such as cruises or attend events such as culinary classes. You can also exchange your cash back for golf or diving lessons.
- Amazon.com points: Exchange your cash back rewards for credit on Amazon.com.
- Gift cards: Exchange your cash back rewards for gift cards at a variety of popular stores. Some of the stores that have partnered with Chase include Macy’s and AMC Theatres. In all, Chase offers gift cards for more than 70 different stores.
- Travel: Exchange your cash back rewards for travel packages. You can select full vacations, airline tickets or cruise tickets. Chase’s partner airlines do not apply any restrictions to the travel dates from which you can select.
The Chase Ink Cash credit card offers members a number of perks in addition to the generous reward program. If you own a business, for example, you can issue cards to your employees without paying extra fees. You can assign a different spending limit to each individual. You’ll also receive cash back rewards when they use their cards.
Chase also goes the extra mile to make your purchases made with the card truly worthwhile. If you purchase a product with your Chase Ink Cash credit card, Chase will protect it from theft or damage for 120 days. In addition, Chase automatically adds one year to the standard manufacturer’s warranty when you purchase most types of items except motor vehicles and items for professional use.
Every time you rent a car for business, pay for it with your Chase Ink Cash credit card. You’ll receive accident and theft insurance.
APR and Fees
After the 0 percent APR introductory period expires, Chase charges 13.49, 17.49 or 19.49 percent interest per year depending on your credit rating. The actual APR may change periodically, though, as Chase bases the APR on the Prime Rate.
The Chase Ink Cash Business credit card has no annual fee. However, Chase charges fees for balance transfers, cash advances and foreign transactions. Also, you can expect to pay a much higher interest rate of 29.99 percent yearly if you default on the card agreement.