Should You Choose the Chase Ink Business Cash Credit Card?

Should You Choose the Chase Ink Business Cash Credit Card?
Amy Fontinelle
on May 29, 2018
Read in 4 min

Assuming you don’t make any late payments and your balance is paid in full before the end of the promotional period, you’re able to enjoy what amounts to an interest-free loan with the Ink Business Cash Credit Card for small businesses.

Who is the Chase Ink Cash for Business card for?

The Chase Ink Business Cash credit card is a great option for a first-time entrepreneur looking to offset initial startup costs, for example.

This credit card would also be well-suited for business owners looking to fund a large purchase that will generate revenue within the year, or for domestic businesses planning to use the card for business supplies and utilities.

With a sign-up bonus worth $500 after spending $3,000 in your first quarter and competitive cashback rewards, Ink Business Cash is among the best credit cards available to small business owners.

Learn more about How to Compare Business Credit Tools

Our comprehensive credit card reviews make it easier than ever to identify the best set of features for your small business needs:

Chase Ink Cash Review – Benefits

Chase Ink for Business Sign-Up Bonus

The Chase Ink Business Cash credit card offers 30,000 bonus points when you make at least $3,000 in purchases within 3 months of opening your account.

The bonus points can be redeemed for $500 cash back.

Balance transfers, cash advances and other non-purchase transactions do not count toward earning the bonus.

Employee Cards via Chase Ink Cash

With their consent, you can add employees to your account as authorized users.

Employees can receive access to your full credit line, or you can establish individual credit limits for each employee.

0% Introductory APR for 12 Months

After that, the APR is 14.74% – 20.74% variable based on your creditworthiness and the prime rate.

To maintain the introductory rate, you must make all required payments by the due date and time, otherwise the default APR will take effect.

Chase Ink Business Rewards

Earn 5% cash back on the first $25,000 per cardmember year on purchases at office supply stores and on internet, cable and phone services.

Earn 2% cash back on the first $25,000 per cardmember year on purchases at gas stations and restaurants.

Earn unlimited 1% cash back per $1 spent on everything else.

No Annual Fee

This pretty much says it all–

Don’t underestimate the savings associated with choosing a business credit card with no annual fee.

Chase Ink Cash Review – Drawbacks

Limited Eligibility

Businesses that have previously held a Chase card with the same or similar rewards may not be eligible for this deal.

Businesses that currently have a Chase card with promotional pricing are not eligible for this card.

Businesses with a history of using a Chase card only for promotional pricing offers are not eligible for a second card with promotional pricing.

Learn more about how the Best Banks For Business May Not Be Banks At All

Personal Liability

The business owner who applies for the Chase Ink Business credit card is personally responsible, both individually and jointly with the company, for all balances owed on the card, even after leaving employment with the company.

Beware High Foreign Transaction Fees with Chase Ink Cash

This card has a foreign transaction fee of 3% of each transaction in U.S. dollars.

If you frequently travel or make purchases from overseas companies, a card with no foreign transaction fees may be a better choice.

Chase Ink Cash Business Credit Card Details

Minimum interest charge: none.

Card use: business purposes only.

Balance calculation: daily balance method, including new transactions.

Grace period: no interest will be charged from the time of purchase until the due date, which will be at least 20 days after the close of the billing cycle, if you do not carry a balance.

*If you do carry a balance, interest accrues from the date of each purchase, balance transfer, or cash advance.

APR on purchases and balance transfers: 0% fixed for the first 12 billing cycles, then 13.74% to 19.74% variable based on your creditworthiness and the prime rate, calculated as prime plus 9.99% to 15.99%. (Prime is 3.75% as of 12/20/2016.)

Balance transfer fee: $5 or 5% of each transfer, whichever is more. Only business expenses may be transferred.

Cash advance fee:  $15 or 5% of each transaction, whichever is more.

Cash advance APR: 21.74% plus prime. Currently 25.49%, maximum 29.99%.

Late payment fee: $15 if the balance is less than $100; $29 if the balance is $100 to $249.99; $39 if the balance is $250 or more.

Return payment fee: $39

Return check fee: $0

Typical credit access line: $3,000–$25,000; possibly higher.

Ink Business Cash Back & Travel Rewards

100 points = $1 in cash back rewards (1 point = 1 cent).

Points can be redeemed for a statement credit, ACH transfer to a checking or savings account, gift cards or travel.

Minimum redemption is 2,000 points.

Points do not expire as long as your account remains open and in good standing.

Final Review: Chase Ink Business Cash

When comparing the best business cards for small business owners, the Ink Business Cash Credit Card does more than hold it’s own.

Use the 0% introductory APR to soften the blow of a large but necessary expense in lieu of paying equipment financing rates, and set all your recurring business expenses to auto-pay from this account to rack up points fast.

Be wary of the default APR after the promotional period ends, and definitely use a different card with merchants abroad to skirt the foreign transaction fees.

If you’re embarking on your first business venture, Chase Ink Business Cash is a great credit card to help you get started.


DISCLOSURES:

The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone. Additionally, the opinions of the commenters are not endorsed or supported by LendGenius.com. Many of the listings that appear on this website are from companies which we receive compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The site does not review or include all companies or all available products.

Amy Fontinelle Finance Journalist

Amy Fontinelle is a writer, editor, and personal finance expert.

Her articles have appeared at Investopedia, Bankrate, MassMutual.com, The Simple Dollar, Interest.com, Yahoo, Forbes.com, SFGate.com, Bankaholic, Mortgage-Calc.com, Saving Advice and other sites.

Amy’s clients include personal finance websites, financial institutions, public policy organizations, academic journals, and professional economists.

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