The Chase Ink Business Cash card is perfect for small businesses. The card has no annual fee and it offers cardholders 5% cash back on typical office purchases. It’s a simple card with plenty of rewards, making it one of the best for small businesses, but it may not be perfect for larger businesses that spend more each year.
The Benefits
The Ink Business Cash℠ Credit Card is a credit card that offers users cash back along with a number of ongoing rewards. Cardholders will receive 5% cash back on office supplies and cable and telecom services, up to $25,000 spent each year. You’ll also receive 2% cash back on gas and restaurants, again, up to $25,000 spent each year.
You’ll get an unlimited 1% cash back everywhere else. New cardholders will be entitled to a $500 cash back bonus after they spend $3,000 on purchases in the first three months after opening their account. Plus, you’ll get 0% APR on all purchases and balance transfers during the first 12 months. After that, the card will have an ongoing APR of 14.74% to 20.74% variable APR.
Pros and Cons
The Ink Business Cash℠ Credit Card offers you a simple, strong cash back program. With no annual fee, businesses will find they are racking up cash back very quickly, especially if they shop regularly for office supplies and use their cards for telecom services. The $500 signup bonus and 0% APR for the first year are great benefits for any small business.
However, there are some situations in which the Ink Business Cash℠ Credit Card may not be the best card for your business. For instance, if your company doesn’t spend a lot on office supplies or cable and telecom services, that 5% cash back won’t do much for you. You may want to look for another business cash back credit card that rewards all categories the same (and at a higher rate than 1% cash back).
If, for example, your business spends more money on travel than supplies, you’ll want to look for a business credit card that rewards you for flights, hotels, and other travel-related expenses.
Requires a Personal Guarantee
It’s important to note the Ink Business Cash℠ Credit Card will require a personal guarantee. Nearly every business credit card on the market requires you to personally guarantee your credit card debt. Because businesses do fail, lenders generally require you to backstop the debt. The Ink Business Cash℠ Credit Card is no different, so keep this in mind if you decide to apply.
Is the Ink Business Cash℠ Credit Card Right for Your Business?
If you have a small business that spends a good deal each year on office supplies and telecom services, this is a great card to have in your wallet. You’ll be receiving 5% cash back on all of those purchases, plus you won’t be paying an annual fee. Use the card to spend $3,000 in the first three months and get rewarded with $500! If this is you, sign up today! It’s a no-brainer!