Chase Ink Business Cash Credit Card Review – $500 Sign-up Bonus

The Chase Ink Business Cash^SM Card from Chase is a popular small business credit card that earns up to 5% cash back on select category purchases, has a healthy sign-up bonus, and doesn’t charge an annual fee. It’s basically the cash back, no-annual-fee version of Chase Ink Business Preferred, which has a points-based rewards system and comes with a $95 annual fee.

Chase Ink Business Cash is great for small business owners who prefer to earn cash back on everyday purchases, such as office supplies, gas, and restaurant meals, rather than deal with a points-based rewards system. In fact, it has one of the best cash back rewards programs of any no-annual-fee business credit card on the market today. A 12-month 0% APR for purchases makes it a good card for financing big-ticket purchases right out of the gate or transferring high-interest balances from other business credit cards, though the high (5%) balance transfer fee is cause for caution.

If you’re a freelancer or sole proprietor who doesn’t really think of yourself as a business owner, you can still qualify for Chase Ink Business Cash. Chase simply requires that the primary cardholder be the owner or representative of an incorporated business, including a sole proprietorship, and affirm that the card is to be used exclusively for business expenses.

If you spend at least $3,000 within 3 months of opening your account, you get a $500 cash bonus that can be redeemed for a statement credit, bank account deposit, Ultimate Rewards merchandise purchase, travel purchase, or special experience, such as a dinner cruise.

Ink Business Cash earns 5% cash back on office supply and telecommunications purchases (including cell phone, landline, Internet, and cable TV), up to $25,000 per year; 2% cash back on gas station and restaurant purchases, up to $25,000 per year; and an unlimited 1% cash back on all other purchases. After you hit the $25,000 annual limits, additional purchases in the 5% and 2% categories earn an unlimited 1% cash back. Each “year” begins and ends on the anniversary date of your account opening.

You can redeem your accumulated cash back for statement credits, bank account deposits, gift cards, general merchandise purchases through Chase’s Ultimate Rewards shopping portal, travel purchases, and special experiences, such as cooking lessons and dinner cruises.

You can apply for additional Ink Business Cash cards for authorized employees at no additional charge. Employee cards earn rewards at the same rate as primary cards.

Chase’s free Ink app lets you track purchases in real-time, category-tag purchases for record-keeping purposes, change authorized cardholder (employee) spending limits, analyze spending over time, and perform other useful functions from your mobile phone or tablet. You can sign up for free, real-time alerts that provide location, transaction, and balance information for every employee purchase.

Chase Checkout is a mobile point-of-sale system, similar to Square for Business, that allows you to accept credit card payments wherever there’s a wireless Internet or 4G broadband connection. Chase Checkout’s mobile version comes with mobile card swipers (dongles) that attach to your phone or tablet. You do need to fill out a separate application for Chase Checkout, and additional payment processing fees apply (2.75% to 3.75% of the total transaction amount, with a $25 monthly minimum).

This card has a 12-month, 0% APR promotion on purchases. There is no corresponding balance transfer promotion.

Once the introductory period ends, Ink Business Cash’s regular APR ranges from 15.24% to 21.24% variable, depending on prevailing interest rates and your personal creditworthiness. The cash advance APR is 26.99% variable from the day you open your account. There is no penalty APR.

Ink Business Cash doesn’t have an annual fee. However, foreign transactions cost 3% of the total transaction amount, cash advances cost the greater of $15 or 5%, and balance transfers cost the greater of $5 or 5%.

Chase’s Purchase Protection plan provides up to $10,000 per item in damage and theft coverage, good toward replacements and repairs. The benefit lasts for 120 days from purchase and is capped at $50,000 total per account.

Chase’s Extended Warranty Protection plan provides a complimentary 12-month warranty extension on all warranties with original terms of three or fewer years.

Chase Ink Business Cash requires excellent credit. Any notable credit blemishes are likely to be disqualifying.

The Chase Ink Business Cash^SM Card is a great business financing option for small business owners, but it’s not suitable for everyone. Compared with some other business credit cards, Ink Business Cash’s spending caps are relatively low, meaning it’s hard for heavy-spending business owners to maximize the card’s value. If you find yourself regularly exceeding the $25,000 annual spending limits in the 5% and 2% categories, consider upgrading to Chase Ink Business Preferred (which does come with a $95 annual fee) or another business rewards credit or charge card better suited to larger companies.

Conversely, Ink Business Cash is a good choice for business owners in the midst of downsizing or cutting back on their credit card use. However, since Ink Business Cash’s spend-$3,000-in-3-months sign-up bonus is hard for cash-strapped businesses to attain and the fee-free employee card benefit is useless for business owners without multiple employees, it’s not the ideal card for very small companies or scrappy sole proprietors.

The Chase Ink Business Cash^SM Card is a great cash back card choice for business owners that crave flexible reward redemptions, 0% APR on purchases for 12 months, rewards for everyday purchases (such as food and fuel), and fee-free employee credit cards. Plus, Chase Checkout is useful for on-the-go business owners who sell in the field, such as food truck operators and art vendors.

No annual fee, flexible reward redemptions, and a great 0% APR purchase promotion are all standout features. The high sign-up bonus threshold, high balance transfer fee, relatively low 5% and 2% category spending caps, and high foreign transaction fees are all negatives.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Categories: Chase, Credit and Debt, Credit Cards, Reviews, Small Business

Brian Martucci writes about frugal living, entrepreneurship, and innovative ideas. When he’s not interviewing small business owners or investigating time- and money-saving strategies for Money Crashers readers, he’s probably out exploring a new trail or sampling a novel cuisine. Find him on Twitter @Brian_Martucci.

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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