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 Name | Ink Business Cash℠ credit card |
|---|---|
| Intro APR for Balance Transfer | 0% Intro APR for 12 months (with whichever is greater, $5 or 5% balance transfer fee) |
| Balance Transfer Rate (not intro) | 14.74% to 20.74% variable |
| APR for Purchases ( Purchase Rate ) | 14.74% to 20.74% variable |
| Annual fee | $0 |
| Cash Advance Rate | 26.49% variable |
| Card Type | Visa |
| Interest Free Period The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement. | Up to 20 days |
| Returned Payment Fee | $39 |
| Foreign Currency Conversion Fee (VISA) Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution. | 3% of transaction value |
| Minimum Credit Score | Fair (660-699) |
|---|---|
| Minimum Age | 18 years of age |
| Annual fee | $0 |
|---|---|
| Returned Payment Fee | $39 |
| Late Payment Fee | $39 |
| Cash Advance Fee | $15 or 5% of the amount of each transaction, whichever is greater |
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 5% 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 $3,000 in the first three 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 12 months after opening your account, you’ll receive 0% APR on purchases and balance transfers. After that, your purchase and balance transfer APR will be 14.74% to 20.74% 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 5% 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 top-tier benefits like travel credits and airport lounge access.
For the best travel perks, you may want a premium travel card. Look for products like the Chase Sapphire Reserve®, The Platinum Card® from American Express and the Luxury Card Mastercard® Black Card™, all of which come with travel credits and complimentary airport lounge access.
You want the same rewards rate for all purchases.
Consider the Capital One 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
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.
Always consider your options and your financial situation before you apply for a credit card.
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
- On the Chase website, click Apply Now.
- Complete the application by providing your personal, financial and business details.
- 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 whichever is greater, $5 or 5% of the transaction, and the cash advance fee is $15 or 5% of the amount of each transaction, 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.
