Chase Ultimate Rewards are well known as one of the most valuable transferable points currencies. Chase has a variety of cards that earn Ultimate Rewards points, and if you use them together, you can get amazing value from the program.
The Ink Business Cash℠ Credit Card is one of the Ultimate Rewards-earning cards that’s great for earning, but not quite as good for redemptions. It isn’t a premium rewards card with a high annual fee, so you won’t see a long list of benefits like the Business Platinum Card® From American Express or Chase Sapphire Reserve®. However, there are several features that make the Ink Business Cash℠ Credit Card great for business owners.
Let’s take a closer look at all of the benefits of the Ink Business Cash℠ Credit Card so you can see the best ways to use it and why it could be a perfect card to add to your portfolio.
Table of contents
- Ink Business Cash Credit Card Benefits
- Rewards Earning
- Redemption Options
- Travel Coverage
- Shopping Coverages
- Final Thoughts
Table of Contents
- Ink Business Cash Credit Card Benefits
- Rewards Earning
- Redemption Options
- Travel Coverage
- Shopping Coverages
- Final Thoughts
Ink Business Cash Credit Card Benefits
No Annual Fee
The Ink Business Cash has no annual fee. This is not a limited-time offer or promotion for the first year; you’ll have no annual fee for as long as you own this card.
Sign-up Bonus [$500 Value]
We’ve seen sign-up bonuses for this card regularly reach $500 (50,000 points) with limited required spending. This is a great way to get a large amount of cash-back or a great boost to your Ultimate Rewards balance fairly easily.
Learn about the current sign-up offer in the chart below.
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|Ink Business Cash℠ Credit Card|
Zero Liability Protection
With Zero Liability Protection, you will not be responsible for unauthorized charges. If someone uses your card or your account details and makes purchases without your permission, you will not have to pay for those charges.
Chase’s fraud alerts will help you identify fraud immediately. For the best protection, make sure that your email address and phone number are up to date with Chase and that you have opted in to have fraud alerts delivered to both.
If you need to change your address, email, or phone number, you can do so by logging in to your online account.
Business Card Credit Status
The Ink Business Cash is a business card and not a personal card. You must be the owner or executive of a business to be approved for this card.
The size of your business does not matter, whether you’re a major manufacturer with thousands of employees or have a weekend fruit stand that brings in $3,000 annually. You can even get an approval as a sole proprietor with just your Social Security number.
Whatever the size of your business, you should be prepared to answer questions that legitimize your business. If Chase doesn’t feel you have a real business, you won’t be approved for this card.
As a business card, the Ink Business Cash will not appear on your personal credit report.
Chase offers employee cards for your Ink Business Cash at no additional cost.
Employee cards can be set with individual spending limits to give your employees as much or as little responsibility as you want. As your business grows, the spending limits for individual employee cards can be adjusted.
For most of your spending, the Ink Business Cash earns an unlimited flat 1% cash back on qualifying purchases made with the card. But the card has a few bonus categories that will earn higher cash back percentages.
Hot Tip: You can increase your everyday cash-back from 1% to 1.5% on purchases outside of bonus categories by using the Ink Business Unlimited℠ Credit Card which also has a $0 annual fee.
5% Cash-Back Categories
Cardmembers can earn 5% cash-back on purchases at office supply stores and on internet, cable, and phone services. This 5% is limited to the first $25,000 in purchases in these categories during each account anniversary year.
2% Cash-Back Categories
Categories that earn 2% cash-back on purchases include restaurants and gas stations. The 2% cash-back benefit is also limited to the first $25,000 in purchases in these categories in each account anniversary year.
Rewards Don’t Expire
As long as your account is open, cash-back rewards will not expire. You can take your time deciding how you want to redeem them and they’ll be there when you’re ready.
The cash-back rewards you earn with the Ink Business Cash are calculated as points. For every $1 in cash back rewards you earn, you’ll receive 100 points.
When stored and used in your Ink Business Cash account, these points are not the valuable type of Ultimate Rewards points that you earn with premium Ultimate Rewards cards (i.e., a Chase Ultimate Rewards card with an annual fee). You can’t transfer them to any partner airline or hotel programs.
Hot Tip: You can convert your cash-back points into valuable transferable Ultimate Rewards points by moving them to another card in your portfolio.
There are several redemption options for the cash-back points you earn with the Ink Business Cash. For most of these redemptions, the value on the points is 1 cent each.
To get more value, you need to pair the Ink Business Cash with another Chase Ultimate Rewards card. We’ll explain how to do that below, but first, let’s go through the 1% redemption options.
Redemption options at the 1% rate will never provide the highest value you can get from your cash-back points, but depending on your circumstances, one of these options might be the best for you at one time or another.
If you want, this card can be a true cash-back card. Your cash-back earning rates would be 1%, 2%, or 5%, depending on the category for your purchases.
Cash-back isn’t always the best option, but if your business needs cash over points and rewards, then it’s probably the way to go, especially as there is 0% APR on purchases and balance transfers for the first 12 months of opening this card. After that, a variable APR of 15.49%-21.49% will apply. (For more cards like this, check out our article on the best 0% APR credit cards)
You have the following options available if you need them.
- Statement credit: You can apply your cash-back toward your balance as a statement credit. Points will be worth 1 cent each.
- Bank account deposit: Cash-back can be deposited directly into most U.S. checking or savings accounts. Points will be worth 1 cent each.
Travel Through Ultimate Rewards
While your cash-back points are stored in your Ink Business Cash Credit account, they can be redeemed for travel booked through the Chase Ultimate Rewards portal. Points will be worth 1 cent each and can be redeemed for airfare on most major airlines, cruises, or premium travel packages.
Hot Tip: There are no blackout dates or additional restrictions on trips booked through Chase Ultimate Rewards. If the flight or cruise you are looking for is available for sale, you will be able to book it with points.
Shop With Points on Amazon
Connect your Ink Business Cash account with your Amazon.com account, and you can pay for your purchases with your cash-back points. Points will be redeemed at a value of 1 cent per point. They can be applied to as much of your order as you want, as little a 1 penny or your entire order, including any applicable taxes and shipping charges.
If you want to turn your cash-back points into gifts, you can use them to purchase over 70 different gift card options. From Home Depot to iTunes, Amazon, and Staples, gift cards are available in various denominations to make your redemption as flexible as possible. Points are worth 1 cent each when redeemed for gift cards.
Pair With Other Ultimate Rewards Cards
We’ve mentioned the cash-back points earned with the Ink Business Cash are not the same as the transferable Ultimate Rewards points earned with Chase’s premium Ultimate Rewards cards.
But there is a way to turn these cash-back points into the more valuable version of Ultimate Rewards points.
Chase will allow you to combine your points with another Ultimate Rewards card account as long as you, your spouse or domestic partner, or your named business partner hold the other account. You can transfer your cash-back points to that account, where they will become transferable Ultimate Rewards points. Their redemption value will instantly improve.
Once converted to transferable Ultimate Rewards points, your points can be transferred to any of the 13 Chase airline and hotel transfer partners. You can redeem your points directly with airline and hotel loyalty programs for huge value.
See which Chase cards earn valuable transferable Ultimate Rewards points here.
Auto Rental Collision Damage Waiver
If you use your card to rent a car for business purposes, the Ink Business Cash provides primary coverage for theft and collision up to the actual cash value of the vehicle. Coverage applies to most vehicles in the U.S. and abroad.
Hot Tip: For this coverage to apply, you must decline the car rental company’s collision insurance and charge the entire rental cost to your card.
This coverage provides primary insurance, so it will pay out before your personal or corporate insurance policies in the event of a loss. Primary insurance is one area where the Ink Business Cash beats many other cards. Most credit cards offer secondary coverage for rental cars.
Avis Corporate Rewards
Avis and Chase Ink have partnered together to provide Ink Business Cash members with exclusive savings and services when renting with Avis.
Connect your card account with Avis to take advantage of the following benefits:
- Discount offers for Avis Rentals.
- One rental reward day for every 7 qualifying days rented. (2x as fast as regular members)
- A complimentary one-car-class upgrade on your rental.
- A discount on GPS rentals.
Once you’ve connected your card, Avis will provide you with an Avis Worldwide discount number only for Ink customers. Entering your number when you make a reservation will allow you to take advantage of the listed benefits and start saving and earning right away.
Travel and Emergency Assistance Services
When you are away from home and have a problem, you can call the Benefits Administrator for legal or medical referrals or other travel and emergency assistance. You will be responsible for paying for the cost of any goods or services from the companies or individuals that they connect you with, but having a number to call to get these referrals provides at least some level of comfort.
If you’re in immediate danger, you should first call local emergency services before contacting your Benefits Administrator.
When you have a roadside emergency, you can call the provided number to dispatch the help you need.
Dispatch service is available 24 hours a day, and available services include towing, jumpstarting, tire changing, lockout service, winching, and gas delivery. The fees for specific roadside services are provided when you call, and if accepted, will be billed to your card.
Purchase Protection [Up To $10,000 Value Per Claim]
You will be covered for 120 days from the date of purchase against damage or theft for any new purchase you make with your Ink Business Cash. This coverage is capped at $10,000 per claim and $50,000 per card account.
Extended Warranty Protection
Extended warranty coverage applies to items you purchase with your Ink Business Cash that come with a U.S. manufacturer’s warranty of 3 years or less. This coverage extends the warranty period by 1 year.
When paired with a premium Ultimate Rewards-earning card, the Ink Business Cash makes for a powerhouse points-earning combo. But it’s a strong card all on its own.
For a no annual fee card, the ability to earn 5x points on purchases is fantastic, especially for businesses where cash is often king. Add to that the 0% APR on purchases and balance transfers in the first 12 months of opening the account, and you can see why this is a popular card. (After the first year, a variable APR of 15.49%-21.49% will apply.)
That being said, there are a couple of things to consider before you apply.
First, the Ink Business Cash falls under Chase’s 5/24 rule. If you have opened 5 or more new credit card accounts in the past 24 months, you will most likely not be approved for this card.
Second, the card has a 3% foreign transaction fee. You should think twice before using your card for purchases outside of the U.S. There are many other cards without foreign transaction fees that would be better to use for your non-U.S. purchases.
If you are qualified under 5/24, however, and have plenty of spending to do within the U.S. this card can be a great addition to your wallet, especially if you frequently spend in the bonus 5% and 2% categories.
Accelerate your earnings with the Ink Business Cash and use your other Ultimate Rewards cards to maximize the value of those points for redemption.
Apply for the Ink Business Cash today, and before you know it, you’ll be off on your next luxury vacation in paradise.
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