The Chase Ink Business Cash® Credit Card comes with a solid welcome offer, no annual fees, and includes a tiered cash back program that can help business owners earn multiple rewards when using the card.
But this does not mean that this card is suitable for every business owner. To get the most bang for your buck, you’ll have to spend a lot of money at stationery stores, as well as internet, cable, and phone service. If these are not the main expenses of your business, this business credit card may not be the best choice.
When is Ink Business Cash worth it?
An Ink Business Cash credit card can be a valuable addition to your wallet, depending on your core business expenses. Here are a few specific scenarios where a map might make sense for you.
You often spend money at stationery stores, as well as online and phone services.
Depending on your business expenses, you can quickly get your money back with this card. You’ll receive a 5 percent cash back on the first $25,000 you spend during the year on combined purchases from office supply stores, as well as internet, cable TV, and phone services. It is important to note that each year begins on the anniversary of the date you subscribed to your card.
You’ll also get a 2 percent cash back on the first $25,000 you spend at gas stations and restaurants during the year, and a 1 percent cash back on all other purchases.
You don’t want to pay a fee for additional employee cards
The Ink Business Cash card is inexpensive. It does not charge an annual fee and you can add employee cards at no additional cost. You can also set individual employee spending limits on these cards to prevent overspending, and you’ll earn cash rewards for purchases your employees make with their cards.
You want many business-oriented benefits
This card also provides benefits that help protect your business. For example, Ink Business Cash offers zero liability protection, which means you will not be liable for unauthorized charges to your card or account information.
It also comes with purchase protection that covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
You can also take advantage of the card’s extended warranty. This service extends the US Manufacturer’s Warranty by an additional year for qualifying warranties up to three years.
And if you’re a frequent traveler, you can use the Ink Business Cash card for travel and emergency assistance. This bonus provides medical referral or other travel assistance and emergency travel assistance.
You want a generous welcome offer
The Ink Business Cash Card is offering a $900 welcome bonus to cardholders who spend $6,000 on purchases within the first three months of opening their account. For a business credit card with no annual fees, this money back welcome bonus is definitely worth considering.
When is Ink Business Cash not worth it?
While the Ink Business Cash card is suitable for many small business owners, depending on your habits and how much you spend each year, it may not be right for you.
You spend little by card category
If you don’t spend a lot of money at office supply stores or on internet, cable or phone service, you might be better off with a business card with a flat cash back rate, such as the Ink Business Unlimited® credit card, which offers 1.5% cash back. for every purchase you make. After all, Ink Business Cash only gives you back 1 percent of non-category purchases.
You take too much every year
One of the disadvantages of Ink Business Cash is that there are limits on how much you can spend and still get 5 or 2 percent back.
You will receive a 5% cashback only on the first $25,000 on combined purchases you make each year at stationery stores or internet, cable, and telephone service purchases. If you exceed this limit, you will only receive a 1 percent cashback – until you pass your account anniversary date and start a new year of spending.
The same annual spending cap of $25,000 applies to the 2% cashback you earn on purchases at gas stations and restaurants. If you spend more than that in a year, you will only earn 1 percent on those purchases until the next year of spending begins.
Should You Get Ink Business Cash?
The Ink Business Cash card may be suitable if your small business has relatively low spending due to spending limits on purchases in both the 5 percent and 2 percent categories. If your business expenses typically don’t exceed $25,000 a year in these categories, and if internet, phone, cable TV, and office supplies are among your biggest expenses, Chase Ink Business Cash could be lucrative for you.
However, if your business expenses regularly exceed that $25,000 limit each year, you might want to consider an alternative business card that gives you unlimited cash back on all purchases.
As another flat rate example, Capital One Spark Cash Plus offers an unlimited cash back of 2 percent on all purchases with no yearly limits. And, as the icing on the cake, you can also get an increased 5% discount on hotels and car rentals booked through Capital One Travel, as well as an attractive cashback welcome bonus: $500 when you spend $5,000 within the first three months of card ownership, plus an additional $500 if you spend $50,000 in the first six months.
Be aware, however, that Spark Cash Plus charges an annual fee of $150.
If you’re interested in a cash-back business card that can earn fast rewards, the Ink Business Cash Credit Card might be a good fit for your wallet. The main thing is to make sure you spend enough – but not too much – in categories that will earn you a 5% or 2% cashback. If you do this, the Business Cash card can increase your business profits every year.
If you spend in a wider range of categories, consider a business card that offers unlimited cash back on all purchases. Browse our list of the best business credit cards for a comprehensive view of the best options on the market.