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.
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.
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.
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.
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.
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.
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.
Interested in a personal loan?Here are the top personal loan lenders of 2018!
|Lender||APR Range||Loan Amount|
|1 Includes AutoPay discount. Important Disclosures for SoFi.
2 Includes AutoPay discount. Important Disclosures for Payoff.
3 Important Disclosures for FreedomPlus.
4 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
5 Important Disclosures for LendingPoint.
6 Important Disclosures for LendingClub.
All loans made by WebBank, Member FDIC. Your actual rate depends upon credit score, loan amount, loan term, and credit usage & history. The APR ranges from 6.95% to 35.89%*. The origination fee ranges from 1% to 6% of the original principal balance and is deducted from your loan proceeds. For example, you could receive a loan of $6,000 with an interest rate of 7.99% and a 5.00% origination fee of $300 for an APR of 11.51%. In this example, you will receive $5,700 and will make 36 monthly payments of $187.99. The total amount repayable will be $6,767.64. Your APR will be determined based on your credit at the time of application. The average origination fee is 5.49% as of Q1 2017. In Georgia, the minimum loan amount is $3,025. In Massachusetts, the minimum loan amount is $6,025 if your APR is greater than 12%. There is no down payment and there is never a prepayment penalty. Closing of your loan is contingent upon your agreement of all the required agreements and disclosures on the www.lendingclub.com website. All loans via LendingClub have a minimum repayment term of 36 months. Borrower must be a U.S. citizen, permanent resident or be in the United States on a valid long term visa and at least 18 years old. Valid bank account and Social Security number are required. Equal Housing Lender. All loans are subject to credit approval. LendingClub’s physical address is: LendingClub, 71 Stevenson Street, Suite 1000, San Francisco, CA 94105.
†Per reviews collected and authenticated by Bazaarvoice in compliance with the Bazaarvoice Authentication Requirements, supported by anti-fraud technology and human analysis. All reviews can be reviewed at reviews.lendingclub.com
**Based on approximately 60% of borrowers who received offers through LendingClub’s marketing partners between January 1, 2018 to July 20,2018. The time it will take to fund your loan may vary.
7 Important Disclosures for Earnest.
8 Important Disclosures for Avant.
* The actual rate and loan amount that a customer qualifies for may vary based on credit determination and other factors. Funds are generally deposited via ACH for delivery next business day if approved by 4:30pm CT Monday-Friday. Avant branded credit products are issued by WebBank, member FDIC.
** Example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33
* Important Disclosures for Upgrade Bank.
Upgrade Bank Disclosures
** Accept your loan offer and your funds will be sent to your bank via ACH within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes this transaction. From the time of approval, funds should be available within four (4) business days.
|7.73% – 29.99%||$1,000 - $50,000|
|6.26% – 14.87%1||$5,000 - $100,000|
|6.99% – 35.97%*||$1,000 - $50,000|
|5.99% – 24.99%2||$5,000 - $35,000|
|4.99% – 29.99%3||$10,000 - $35,000|
|5.99% – 18.99%4||$5,000 - $50,000|
|15.49% – 34.49%5||$2,000 - $25,000|
|6.95% – 35.89%6||$1,000 - $40,000|
|6.99% – 18.24%7||$5,000 - $75,000|
|9.95% – 35.99%8||$2,000 - $35,000|