The Ink Cash business credit card is a solid choice for small businesses that spend a lot on office purchases and appreciate the simplicity of a no-fee cash back card. It is also a smart option for small companies that spend on gas and dining and want to offer their employees a business card that doesn’t charge an annual fee.
However, if your company spends more than $25,000 on bonus categories (telecom services, office supplies, dining, and gas), look elsewhere. The cash back reward rates drop to 1% when you hit the $25k limit.
There is an intro 0% APR on purchases and balance transfers for the first 12 months; after that, the purchase and balance transfer rates range from 14.24% APR to 20.24% APR depending on your creditworthiness. There is a 29.99% APR penalty fee if you’re late on payments. Careful with this one. Chase calls the penalty rate a default APR. It is triggered when you fail to make a minimum payment and may apply to your account indefinitely.
Cash advances and overdrafts have a 25.99% APR.
The Ink Cash business credit card doesn’t have an annual fee. A winning feature for businesses looking to save money. It does, however, charge a 3% foreign transactions fee and a 5% or $5 fee on balance transfers.
Ink Cash also charges a $15 or 5% cash advance fee, which is high compared to other credit cards. Late payments and returned payments come with a $39 fee.
The Ink Cash business credit card rewards program has three categories:
- Office supplies and telecom services offer a 5% cash back
- Restaurants and gas station purchases get 2%
- All other purchases get 1%
The rewards rate is high for the supplies and services small businesses need. The catch is there is a $25,000 limit on the bonus categories. Companies that spend more than $25,000 on supplies, telecom services, restaurants, and gas should get another business card.
The signup bonus is the reason you should get this card even if it is as a secondary card. Spend $3,000 in the first three months, and you receive a $300 bonus cash back. Not bad for a card without an annual fee.
Absolutely. As well as a decent signup bonus and rewards program, Ink Cash also has the following perks:
- Employee cards at no additional cost
- Purchase protection (up to a maximum of $50k)
- Extended warranty protection
- Auto rental collision damage waiver
The Ink Cash business credit card combines no annual fee and packs a cash back rewards rate of up to 5%. If you are a small business that spends a lot on purchases that fall within the bonus categories, this card is an excellent choice. Although the 3% foreign transaction fee limits the use of the car abroad, it has valuable perks for domestic consumers, such as auto rental collision waiver and extended warranty protection.
|Chase Ink Business Cash Card||
|Ink Business Preferred||
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