Credit Cards

Chase Ink Business Cash Card Latest Review (2020)

Posted: March 27,2020
by Jameson Lamie
Last updated: July 28,2020

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The Chase Ink Business Cash card is often mentioned in the credit card community. Why? Because most business cards come with annual fees and Chase Ink is one of the select few that doesn’t have one.

Chase Ink allows you to earn cashback on expenses like office supplies, internet, cable, ride-hailing services, gas stations, and restaurants. With ZERO annual fees and maximum point earnings at 5%, it is no doubt one of the best starter credit cards for business owners.

The Chase Ink Business Cash credit card is one of the best cards for small businesses

Chase Ink Business Cash Card Points System

The Chase Ink Business Cash card has two cashback categories: 5% and 2 %. Each category has a maximum spend of $25,000, and once you reach the threshold, cashback rates will be 1% for all purchases.

The 5% cashback categories include:

  • Office Supplies – You can earn 5% cashback on office supply stores like OfficeMax and Staples. An added benefit is a lot of these stores also sell other items like snacks and gift cards. 
  • Internet, Cable, and Phone Services – This category does not include hardware expenses but only mobile plans, internet services, and cable bills.
  • Lyft Rides – Chase Ink also allows cardholders to get 5% cashback on Lyft Rides, knowing a lot of businesses use ride-hailing services.

The 2% cashback category includes:

  • Gas Stations – Cardholders can earn 2% cashback at all gas stations. This is not exclusive to gasoline purchases; Snacks, beverages, car washes, and other items or services can earn you points as long as you don’t use third-party payment services.
  • Restaurants – Whether it’s a fast-food restaurant or a fancy one, you earn cashback when you have company expenses at restaurants.

Other Notable Benefits

The Chase Ink Business Cash points system is pretty rewarding especially since there’s no annual fee – and believe it or not, there’s more! Chase Ink Business cardholders can also benefit from:

  • $500 Sign-up Bonus – You can earn $500 automatically once you spend a minimum of $3000 in your first three months as a cardholder.
  • Non-expiring Points – All the cashback you earn will not expire and will roll over to the next calendar year. There’s no pressure of redeeming your points right away.
  • 0% Intro APR – The regular APR is 14.74% – 20.74% Variable, but you can have 0% APR in your first year. This feature is perfect for business owners so they can get a head start in paying off balances.
  • Free Employee Cards – You can have 70 free employee cards with each having their own spending limits.
  • Improve Your Credit Score – Dun & Bradstreet will monitor your spending activity with the Chase Ink Business cash card. This will build your credit when they see you have positive spending activity.

Chase Ink Business Cash Drawbacks

Not every card is perfect, so we’ve listed a few drawbacks this card has.

  • $25,000 Spending Cap – If you’re a big corporation who spends more than $25,000, it doesn’t make sense to get Chase Ink.
  • Foreign Transaction Fees Apply – A 3% foreign transaction fee applies on top of every transaction made for items or services you’ve paid for abroad.

Tips From Points Panda:

Chase Ink is best card for small business owners who often spend on the categories mentioned above. And by small business owners, we mean people who won’t spend more than $25,000 in a calendar year.

We recommend you maximize your spending budget on the 5% categories first so you’ll get the most out of the cashback points.

We don’t recommend this card for business owners who often travel abroad since you will incur foreign transaction fees. Other business credit cards don’t have international fees such as the Amex Delta Reserve for Business.

 

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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