Chase Ink Business Cash Card Review: Earn Extra Cash for Your Business

Chase Ink Business

For small business owners, getting the right credit card is essential. That’s because business credit cards are often tailored to specific business needs. The Chase Ink Business Cash Card is an option every small business owner should consider.

This card offers bonus rewards on certain office-related expenses as well as a 0% APR promotion that’s hard to find with business credit cards. Find out more in our Chase Ink Business Cash Card review below.

Chase Ink Business Cash Card review

The Chase Ink Business Cash card can be a boon to some small business lenders. It can also just be another mediocre card for others. It all depends on how you spend your money. Here are some perks that come with the card:

  • Earn five percent cash back at office supply stores and on cell phone, landline, internet, and cable TV services.
  • Earn two percent cash back at gas stations and restaurants and one percent back everywhere else.
  • Receive a sign-up bonus worth $300 after spending $3,000 in the first three months.
  • Get a 0% APR promotion on purchases and balance transfers for the first 12 months.
  • No annual fee.

While these benefits may seem hard to beat at first glance, there are drawbacks to consider:

  • The five percent and two percent bonus rewards are limited to the first $25,000 spent per year.
  • If your business doesn’t spend a lot in the card’s five percent categories, you’re not getting much value.
  • If you travel a lot, a travel business credit card may provide more value.
Check Out the Chase Ink Business Cash Card Today

Get accelerated rewards with Chase Ink Business Card

For a no-annual-fee credit card, the Chase Ink Business Cash Card packs a punch in the rewards realm. If you spend the full $25,000 limit each year — that’s $2083.33 per month — you’ll earn $1,250 per year in cash back on just those purchases.

If you spend the full $25,000 limit each year — that’s $2083.33 per month — you’ll earn $1,250 per year in cash back on just those purchases.

Plus, getting two percent cash back at restaurants and gas stations (up to $25,000 in combined purchases between the two) is a bonus. When you max that out, that’s another $500 in rewards each year.

While the card is considered a cash back card, you can also redeem your rewards for gift cards or travel. If you want to stick with cash back, though, you can get it through a statement credit or direct deposit into your checking account.

Keep in mind that you don’t need a Chase checking account; you can get your cash back deposited into any U.S.-based checking or savings account. The minimum redemption amount is $20 (or 2,000 points), so you’ll need at least that much in your account before you can do anything.

What’s more, your rewards never expire as long as your account is open and in good standing.

Chase Ink Business Cash Card APR promotion

Balance transfer promotions are common among personal credit cards, but they’re unicorns among business credit cards. The Chase Ink Business Card is one of just a few business cards I’m aware of that offers a 0% APR promotion on both new purchases and balance transfers.

If you’re planning to make a large purchase and want to transfer a balance from a high interest rate, this card can be a lifesaver. With it, you’ll get no interest for 12 months.

As long as you pay off the balance in full before the period ends, you won’t pay interest. And if there is a balance at the end, only that amount will incur interest.

Chase Ink Business Cash Card’s $300 sign-up bonus

Another incentive to keep new cardholders happy is the card’s sign-up bonus. To get the cash, you just need to spend $3,000 in the first three months after being approved for the card.

Keep track of your spending to make sure you’re on track. And if your business is still new and you’re not spending at least $1,000 a month, avoid spending money on things you don’t need just to get the bonus.

Other features

Despite being a business credit card, the Chase Ink Business Cash Card doesn’t offer many business-related perks. But you will get other standard features with the card, including:

  • Purchase protection in case an item you buy with the card is damaged or stolen.
  • Extended warranty protection.
  • Travel accident insurance.
  • Travel and emergency assistance services.
  • Roadside dispatch.
  • Rental car insurance.
  • Baggage delay insurance.
  • Lost luggage reimbursement.
  • Free employee cards.

Plus, with Chase’s mobile app, you can get instant purchase alerts, file receipts, and manage employee spending.

Discover the Chase Ink Business Cash Card Here

Chase Ink Business Cash Card rates and fees

As with any credit card, the Chase Ink Business Card charges interest (after the initial 0% APR period) and fees. Depending on how you use the card, the fees and interest may negate the rewards you earn.

Fees

Fortunately, the card has no annual fee, but there are others you should be aware of:

  • Balance transfer fee of five percent or $5, whichever is greater.
  • Cash advance fee of five percent or $15, whichever is greater.
  • A Foreign transaction fee of three percent.
  • Late payment fee of up to $39, depending on your balance.
  • Return payment fee of $39.

APR

Once your 0% APR promotion is over, the Chase Ink Business Cash still offers a lower-than-average APR starting at 13.99% (as of April 2017). Other APRs you should be aware of include:

  • Cash advance APR: 25.74%
  • Default or Penalty APR: up to 29.99%

You’ll be assessed the penalty APR if you’re late with your payment or payment is returned. The card offers a 20-day minimum grace period. Cash advances don’t get a grace period; interest begins accruing immediately.

Applying for the Chase Ink Business Cash Card

To begin the application process, click on the “Apply Now” button on the card details page. You’ll then enter the following information.

Information about your business

  • Legal name of business
  • Business name on card
  • Type of business
  • Tax identification number
  • Number of employees
  • Annual business revenue
  • Years in business
  • Business mailing address and phone number

Information about you

  • Relationship to the business
  • Name and date of birth
  • Residential address
  • Gross annual income
  • Phone number and email address
  • Social Security number

If you want cards for your employees or want to do a balance transfer, you can enter that information during the application process as well. You’ll then read some disclosures before submitting your application.

Chase customer service reviews

Customer reviews about Chase and the Chase Ink Business Card are few and far between outside of Chase’s website.

According to J.D. Power, Chase ranked fifth out of ten major credit card issuers in its 2016 customer satisfaction study. The ranking puts the bank’s service at about average.

Apply for the Chase Ink Business Cash Card

Contact Chase

If you have any questions about the Chase Ink Business Cash Card or the bank’s other products, you can reach them directly at 1-800-432-3117. If you already have a Chase account, you can also reach out to them via secured messaging in your online account.

Chase’s support team is also available on social media through Twitter @ChaseSupport, and the bank’s Facebook page.

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LenderRates (APR)Loan Amount 
1 Includes AutoPay discount. Important Disclosures for SoFi.

SoFi Disclosures

  1. Terms and Conditions Apply: SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, a responsible financial history, years of experience, income and other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Finance Lender Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., NMLS # 1121636. (www.nmlsconsumeraccess.org)
  2. Personal Loans: Fixed rates from 5.49% APR to 14.24% APR (with AutoPay). Variable rates from 5.29% APR to 11.44% APR (with AutoPay). SoFi rate ranges are current as of December 1, 2017 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. Interest rates on variable rate loans are capped at 14.95%. Lowest variable rate of 5.29% APR assumes current 1-month LIBOR rate of 1.34% plus 4.20% margin minus 0.25% AutoPay discount. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.

2 Important Disclosures for Citizens Bank.

Citizens Bank Disclosures

  1. Personal Loan Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of August 1, 2017, the one-month LIBOR rate is 1.23%. Variable interest rates range from 6.02% – 15.97% (6.02% – 15.97% APR) and will fluctuate over the term of your loan with changes in the LIBOR rate, and will vary based on applicable terms and presence of a co-applicant. Fixed interest rates range from 5.99% – 16.24% (5.99% – 16.24% APR) based on applicable terms and presence of a co-applicant. Lowest rates shown are for eligible applicants, require a 3-year repayment term, and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
  2. Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower has a qualifying account in existence with Citizens Bank at the time the borrower has submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, student loans or other personal loans owned by Citizens Bank, N.A. Please note, Citizens Bank checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate and Annual Percentage Rate (APR) disclosed in the Truth-In-Lending Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
  3. Automatic Payment Benefit: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.
7.39% - 29.99%$1,000 - $50,000Visit Upstart
5.29% - 14.24%1$5,000 - $100,000Visit SoFi
8.00% - 25.00%$5,000 - $35,000Visit Payoff
5.99% - 16.24%2$5,000 - $50,000Visit Citizens
5.99% - 35.89%$1,000 - $40,000Visit LendingClub
5.25% - 14.24%$2,000 - $50,000Visit Earnest
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