Is the Chase Ink Business Cash Card worth it? – August 2018 | finder.com

Ink Business Cash℠ credit card review — August 2018

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An excellent business credit card with $0 annual fee, an attractive signup bonus, a strong intro APR on purchases and balance transfers and lucrative cash back.

30-second take

  • Get this card if you can take advantage of the card’s cashback categories and you’re looking for a no-annual-fee product.
  • Pick something else if you want a flat rewards rate or spend heavily in categories like travel, shipping and online advertising.
  • Apply with a good to excellent credit score of 690 or higher.
Product NameInk Business Cash℠ credit card
Card TypeVisa
Annual Fee$0
APR (Annual Percentage Rate) for Purchases14.99% to 20.99% variable
Introductory Purchase APR0% for the first 12 months (then 14.99% to 20.99% variable)
Introductory Balance Transfer APR 0% for the first 12 months (then 14.99% to 20.99% variable)
Balance Transfer Fee5% or $5 of the transaction, whichever is greater
Cash Advance Rate26.47% variable
Cash Advance Fee$15 or 5% of the cash advance amount, whichever is greater
Foreign Transaction Fee3% of the transaction value
Interest Free PeriodUp to 20 days
Minimum Interest$0
Late Payment Fee$39
Returned Payment Fee$39
Additional Cardholder Fee$0
Minimum Age18 years of age
Welcome BonusEarn 500 cash back after spending $3,000 in the first 3 months
Reward Value per Dollar1% cash back
Rewards Points ExpiryNever

The basics

The Ink Business Cash℠ credit card is a great choice if your business spends heavily on office supplies or Internet, cable and phone services. In those categories, you’ll earn cash back on the first $25,000 spent in combined purchases each year. After, your cashback rate reverts to 1% until your account anniversary.

The card may be a smart pick if your business spends a lot on gas or dining: You’ll earn 2% cash back in those categories on the first $25,000 in combined purchases each year, and 1% after. With those rewards, you might expect the card to come with an annual fee. You’ll be pleasantly surprised to hear there isn’t one.

The perks

  • Annual fee: $0.

    A $0 annual fee makes it easy to keep the card long-term and lets you keep all the rewards you earn.

  • Signup bonus: 500 cash back.

    After you spend $5,000 on purchases in the first 3 months of opening your account, you’ll earn $500 bonus cash back.

  • Intro APR: 0% on purchases and balance transfers for the 12 months.

    For the first 12 months after opening your account, you’ll receive a 0% intro APR on purchases and balance transfers. After that, your purchase and balance transfer APR will be 14.99% to 20.99% variable — depending on your credit.

    With an intro APR that lasts for 12 months, this is one of the best you’ll find among business credit cards.

  • Cash back: Up to 5% cash back on business spending.

    The Ink Business Cash℠ credit card is an excellent choice if you spend heavily at office supply stores and on Internet, cable and phone services. In those categories, you’ll earn cash back on the first $25,000 you spend annually in combined purchases — and 1% after.

    The card is also a good pick if you’ll use it often at gas stations and restaurants. In those categories, you’ll earn 2% cash back on the first $25,000 you spend annually in combined purchases — and 1% after.

    On everything else, you’ll earn 1% cash back.

How Chase cash back works

Chase advertises its Ink Business Cash℠ credit card rewards as cash back. However, you’ll actually earn points when you use your card.

It takes 100 points to earn $1 in cash back – in other words, each point is worth 1 cent, which follows the industry standard.

You can redeem your points for various rewards, including:

  • Cash back
  • Gift cards
  • Travel
  • Products and services from third-party merchants

Points may be worth less than 1 cent apiece if you redeem them for rewards other than cash back. That said, it’s a good idea to check the redemption rate before using your points.

You’ll also like …

  • Free employee cards.

    Add employee cards to your account at no cost. Not only can you set spending limits for each card, you can also earn cash back on your employees’ spending.

  • Travel and purchase benefits.

    Leverage your Ink Business Cash℠ credit card for legal assistance, medical referrals and travel and emergency assistance. Receive extended warranties, purchase protection and collision damage waivers for rental vehicles.

What to watch out for

  • Your intro APR expires after the 12 months.

    Once your intro APR expires, you’ll start accruing interest on all outstanding balances from purchases and balance transfers.

  • Penalty APR.

    Chase may raise your purchase, balance transfer or cash advance APR as high as 29.99% variable if you make a late or returned payment. This is known as a penalty APR and can apply for six months or longer.

    Many credit card providers don’t charge penalty APRs, so don’t be afraid to shop around.

  • Penalty fees.

    You’ll pay fees of up to $39 if you make a late or returned payment.

  • Transaction fees.

    You’ll pay fees for balance transfers, cash advances and foreign transactions.

Consider other cards if …

  • You spend heavily in categories like travel and advertising.

    The Chase Ink Business Preferred℠ credit card offers 3x points in categories like travel, shipping and online advertising.

  • You want a longer 0% intro APR.

    Try the Blue Business℠ Plus Credit Card from American Express, which offers 0% intro APR on purchases and balance transfers for 15 months. After that, your purchase and balance transfer APR will be 12.99%, 16.99% or 20.99% variable — depending on your credit.

  • You want the same rewards rate for all purchases.

    Consider the Capital One® Spark® Cash for Business, which offers 2% cash back on every purchase. This type of flat-rewards card might be helpful if you spend widely throughout many categories.

  • You have fair credit.

    Look into the Capital One Spark® Classic for Business, which is available to business owners with average credit. It offers 1% cash back on all purchases.

Compare business credit cards

Name Product APR (Annual Percentage Rate) for Purchases Introductory Purchase APR Annual Fee
None (Charge Card)
$450
Earn 75,000 Membership Rewards® points after you spend $20,000 on purchases within your first 3 months of card membership.
$0 annual fee for the first year ($250 thereafter)
This Charge Card gives you the option to pay in full each month or to carry a balance for up to 60 days with no interest.
$0 annual fee for the first year ($175 thereafter)
13.99%, 18.99% or 20.99% variable
0% for the first 9 months (then 13.99%, 18.99% or 20.99% variable)
$0
Earn cash back with buying power to help pay for business needs.
14.99% to 20.99% variable
0% for the first 12 months (then 14.99% to 20.99% variable)
$0
$500 bonus cash back after you spend $3,000 in the first 3 months
17.74% to 22.74% variable
$95
80,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening. That's $1,000 toward travel rewards when you redeem through Chase Ultimate Rewards®.
17.74% to 24.74% variable
$99
75,000 Bonus points after you spend $3,000 on purchases in your first 3 months from your account opening with your Marriott Rewards Premier Business credit card.
24.74% variable
$0
Get the credit you want for your business, and unlimited 1% cash back on every purchase, every day
14.74%, 18.74% or 22.74% variable
0% for the first first 9 months (then 14.74%, 18.74% or 22.74% variable)
$0
Unlimited 1.5X miles per dollar on every purchase, every day
18.74% variable
$0 annual fee for the first year ($95 thereafter)
Unlimited 2X miles per dollar on every purchase, every day
14.74%, 18.74% or 22.74% variable
0% for the first 9 months (then 14.74%, 18.74% or 22.74% variable)
$0
Unlimited 1.5 cash back on every purchase, every day.
18.74% variable
$0 annual fee for the first year ($95 thereafter)
Unlimited 2% cash back from Spark Cash could mean thousands of dollars each year going back into your business. No minimum to redeem.
17.74% to 24.74% variable
$0 annual fee for the first year ($95 thereafter)
50,000 bonus miles after you spend $3,000 on purchases in the first 3 months your account is open.
17.74% to 24.74% variable
$99
Earn 2x points on Southwest® purchases and 1x point on all other purchases. Plus 6,000 anniversary bonus points.
17.74% to 25.74% variable
$0 annual fee for the first year ($95 thereafter)
Earn 70,000 American Airlines AAdvantage® bonus miles after you spend $3,000 in purchases within the first 3 months of account opening.

Compare up to 4 providers

What size business is the Ink Business Cash℠ credit card good for?

One of the Ink Business Cash℠ credit card‘s best selling points is its $0 annual fee, which makes the card accessible to many businesses. Even if you don’t make many purchases on the card, you needn’t worry about earning enough cash back to make the card worth paying for.

The card does offer accelerated rewards in certain categories. That said, it’s best if your business spends heavily on gas, dining, office supplies and Internet, cable and phone services. Earning up to 5% cash back can help significantly when expenses are tight.

If your business doesn’t spend much in those categories, consider another business card that offers more lucrative rewards.

What should I know before I apply?

You may apply for the Ink Business Cash℠ credit card if:

  • You’re at least 18 years old.
  • You’re at least 19 if you live in Alabama or Nebraska.
  • You operate a small business.

Information you’ll need

To complete the application, you’ll need to provide information about yourself and your business, including:

  • Your name, residential status and residential address.
  • Your Social Security number.
  • Your email address, phone number and date of birth.
  • Financial information like your annual income and source of income.
  • The name of your business, its mailing address and its employee count.
  • Your years in business and annual business revenue.
  • Your tax identification number.

What credit score do I need?

You have a better chance of being approved for this card if you apply with a good to excellent credit score of 690 or higher.

What’s my likelihood of being approved?

If you don’t have a business, your chances of being approved for this card are slim. But if you have a healthy business and excellent credit, your likelihood of being approved will improve dramatically.

Here are a few other factors that might affect your odds of approval:

  • Whether you’re a current Chase customer. Chase is reportedly more likely to approve its current banking and credit card customers. This makes sense, as it can more readily evaluate your financial stability with the data it already has. Furthermore, it has an incentive to keep you happy as a customer.
  • How many hard pulls you have on your credit report. If you have several hard inquiries — or hard pulls — on your account, it might make you look desperate for credit. This implies you’re having trouble managing your debt, and Chase may be less likely to take you on as a customer.
  • Factors that tie into your credit score. Credit utilization is a major factor that Chase will consider. The bank prefers a customer who has low balances relative to their credit limit. Having many new card accounts may be a red flag, too, as it may indicate you’re desperate for credit. It may also give the impression that you’re a flighty customer who’s just hunting for signup bonuses.

What do customers say about the Ink Business Cash℠ credit card?

Cardholders generally think the Ink Business Cash℠ credit card is a great product with excellent cash back. Many cardholders say they were approved for high credit limits.

As of May 2018, Chase earns a Trustpilot score of 5.5 out of 10. Most negative reviews cite slow responses to fraud complaints and less-than-helpful customer service. Positive reviews cite the bank’s great mobile app and quick resolutions to their issues. Overall, your mileage may vary with Chase customer support.

The JPMorgan Chase Credit Card division earns an overall A+ rating from the Better Business Bureau.

How to apply for the Ink Business Cash℠ credit card

  1. On the Chase website, click Apply Now.
  2. Complete the application by providing your personal, financial and business details.
  3. Confirm that the information you’ve provided is correct, and click Submit.

How long will it take to be approved?

Because conditional credit card approval is automated on the website, you may get a decision on your application within a few minutes. If there are issues with your application, it may take a few business days to a few weeks to hear back.

How long will it take to get my Ink Business Cash℠ credit card?

After you’re approved, you’ll typically receive your card within 7 to 10 business days.

I got the card. Now what?

  • Make timely payments.

    Pay your card bill online at the Chase website, where you can enroll in autopay.

  • Avoid interest.

    After the close of each billing cycle, you have a grace period of at least 20 days to pay your balance. If you do, you won’t pay interest on your purchases.

  • Avoid fees.

    Late and returned payments come with fees of up to $39. The balance transfer fee is 5% or $5 of the transaction, whichever is greater of the transaction, and the cash advance fee is $15 or 5% of the cash advance amount, whichever is greater .

  • Contact customer service.

    If you have questions, contact Chase Credit Cards support at 1-800-432-3117.

Bottom line

The Ink Business Cash℠ credit card is an excellent business credit card, offering a great signup bonus, $0 annual fee, a solid intro APR and lucrative rewards. If your business can take advantage of the cashback categories, the card is an easy choice. It’s important to find the card that’s right for your business though, so you may want to compare your options.

Common questions about the Ink Business Cash℠ credit card

Adrienne Fuller

Adrienne Fuller leads the publishing team at finder.com. She has one goal: to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. When she's not helping folks save money, she's hiking with her two Catahoulas around her home in San Diego.

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