Chase Ink Cash Business Credit Card Review
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Chase Ink Cash Business Credit Card
What we like:
Small business that spends on office supplies
| Intro Offer | $500 bonus cash back after spending $3,000 on purchases in the first 3 months after account opening |
| Rewards Rate | 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year |
| Regular APR | 15.49% – 21.49% |
| Annual Fee | $0 |
Devoted Chase customers looking to support their business with a credit card can find such products offered by their respective bank. Chase offers several business credit cards that feed cash directly back into the business. Check out the other best cash back cards here.
One such card is the Ink Cash® Business Card from Chase that is one of the first offers that business owners can examine to see if their needs are satisfied. If you aren’t sold, check out other great rewards credit cards at this page.
Benefits and Rewards
A common main title special offer that comes with the Ink Cash® Business Card is the cash back bonus reward for spending a certain amount within a certain time period. Businesses earn 50,000 points, or $200, for spending $3000 within the first three months with the Ink Cash® Business Card. This rate also describes the value of each point as equal to one cent which holds true for the reward point system offered by Chase overall.
In addition to a sign on cash back bonus, there are several opportunities to earn more points per dollar spent on purchases that fit into certain categories. Businesses earn 5% cash back, or five points per dollar spent, when making purchases on office supplies, cell phone, landline, internet, and cable services. This cash back holds for the first $25,000 of purchases each year.
The next cash back rate involves purchases at gas stations and restaurants for which businesses earn 2% cash back (two points per dollar) for the first $25,000 of relevant purchases each year.
When making purchases on any other goods that do not fit the special categories, a 1% cash back rate applies for every dollar spent, and there is no cap limit to how many reward points may be earned. These reward points can be redeemed for gift cards, travel expenses, or simply applied to the account balance.
There are several insurances provided with the Ink Cash® Business Card; for instance, auto rental collision insurance is provided in the event of an auto rental collision. Purchases protection is provided for products that receive damage within 120 days of purchase, and extended warranties are provided on products that come with a manufacture warranty.
Rates and Fees
Rates
- Min APR: 13.49%
- Max APR: 19.49%
- Balance Transfer: 13.49% – 19.49%
- Cash Advance: 25.24%
Fees
- Annual: $0
- Late Payment: $39
- Balance Transfer: $5 or 5%
- Foreign Transaction: 3%
There are no annual fees hampering the associated business that utilizes the Chase Ink Cash® Business Card which rewards businesses for their patronage; however, there are several standard fees that come with the Ink Cash® Business Card. If an employee or supervisor happens to make a purchase outside of the country, a 3% foreign transaction fee is exacted of the equivalent United States dollar amount. When a balance transfer is in order, a $5 or 5% fee is applicable with the decision over which rate going to the greater value. Cash advances are more costly than balance transfers with the rate being either $15 or 5% with the decision over which rate going to the greater value that is generated.
Standard business oriented Chase penalty fees apply; for instance, a returned payment costs the cardholder or business $39 while a returned check does not generate a late penalty. In the case of a late payment, $15 is charged for balances less than $100, $29 is charged for balances between $100 and $250, and $39 is charged for balances over $250.
During the initial twelve months after receiving the Ink Cash® Business Card, a 0% annual percentage rate (APR) applies to regular purchases as well as balance transfers. Once the twelve month period concludes, the APR for both transaction types jumps to the range of 13.49% – 19.49% (variable). If a business every requires a cash advance, an APR of 25.24% (variable) accompanies such a transaction; additionally, an overdraft advance APR of 25.24% (variable) is also a relevant rate. The penalty APR for the Ink Cash® Business Card is 29.99% (variable) which is applied for late or returned payments.
Bottom Line
Several benefits and rewards make the Ink Cash® Business Card from Chase a desirable card for any business that is looking to receive a return on its expenses. Overall, this business card compares well with other counterparts which makes it a competitive card on the market.
