Bank of America cards are currently not available on CNBC Select and links have been redirected to our credit card marketplace where you can review offers from other issuers like American Express or Chase. You can also check out our list of best credit cards for alternative options.
The offer mentioned below for the Ink Business Cash® Credit Card is no longer available.
The Ink Business Cash® Credit Card is one of the best no-annual-fee business credit cards, especially if you like earning cash back. It offers a strong rate of return on many different types of business purchases and typically features one of the best welcome bonus offers.
Chase has announced an easier-to-earn welcome bonus for the card and a bonus opportunity for new cardholders who also have or will open a Chase business checking account. CNBC Select has the details on how to make the most of these Ink Business Cash card offers.
Chase Ink Business Cash Card changes
The majority of the features and benefits available with the Ink Business Cash card are staying the same —the biggest changes are the introduction of a limited-time relationship bonus and a tweak to how you earn the card's bonus. Also, cardholders can now qualify for an automatic assessment for a credit limit increase every six months or sooner.
Welcome bonus requirements
Previously, new cardmembers could earn the Ink Business Cash card's $750 bonus after spending $6,000 within the first three months. Now you'll have more time to meet that requirement. With the new tiered welcome bonus, new cardholders can earn $350 cash back after spending $3,000 on purchases within the first three months of account opening and you'll earn an additional $400 cash back after spending another $3,000 ($6,000 in total) on purchases within the first six months of account opening.
This gives you more time to meet the same spending requirement and the opportunity to earn part of the bonus early. Regardless of how you look at it, this is a positive change.
You can cash out your rewards for gift cards, travel (booked through the Chase travel portal), statement credits or direct deposits. And if you have a Chase credit card that enables point transfers, such as the Chase Sapphire Preferred® Card (see rates and fees), you can transfer the bonus you earn from the Ink Business Cash card to 14 hotel and airline loyalty programs.
Banking relationship bonus
Ink Business Cash cardholders who opened their accounts between March 17 and Nov. 17, 2024, have an opportunity to earn bonus cash back. If you have both an Ink Business Cash card and a Chase business checking account on your first card anniversary, you'll receive a one-time 10% bonus on the cash back you earn from eligible purchases in your first year. That means, if you've earned $1,000 in cash back from purchases in your first year, you'll get a $100 bonus. While you need to open an Ink Business Cash card by Nov. 17, 2024, to qualify for this offer, the Chase business checking account just needs to be opened and active by your first card anniversary to receive the 10% bonus.
Chase has several different tiers of business bank accounts, and the most affordable option is the Chase Business Complete Checking® account. It has no minimum deposit to open and a $15 monthly maintenance fee that you can waive by meeting certain requirements including, having a $2,000 minimum daily ending balance, making $2,000 in eligible purchases with an eligible Chase Ink Business card and more. You can also earn a $300 bonus after meeting the qualifying activities: Depositing $2,000 in new money into the account within 30 days, maintaining a $2,000 balance for 60 days and making at least five qualifying transactions (debit card purchases, online bill pay, etc.) within 90 days of enrollment. Offer ends 01/16/2025.
Alternatives to the Chase Ink Cash card
Depending on how much your business spends on credit cards each year, The American Express Blue Business Cash® Card may be a more rewarding option. It earns a solid 2% cash back on all eligible purchases on the first $50,000 of purchases each calendar year, 1% thereafter. It also has no annual fee (see rates and fees), so smaller businesses that won't maximize the Ink Business Cash's bonus categories may prefer this card.
The American Express Blue Business Cash® Card is an ideal fit for a growing business because it offers an intro APR for purchases and a generous cash-back rate.
- Valuable intro-APR offer for purchases for 12 months
- No annual fee
- Additional cash back is capped
- It has a foreign transaction fee
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 16.99% – 28.74%, based on your creditworthiness and other factors as determined at the time of account opening. APRs will not exceed 29.99%
- Earn 2% cash back on all eligible purchases on the first $50,000 of purchases each calendar year, 1% thereafter. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That's why you've got the power to spend beyond your credit limit with Expanded Buying Power*.
- * The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
- No Annual Fee. Terms Apply. Learn More.
- See Rates & Fees
Balance transfer fee
Refer to Terms and Conditions
Foreign transaction fee
2.7% of each transaction after conversion to US dollars.
If you have your business accounts through Bank of America, the Bank of America Business Advantage Unlimited Cash Rewards Mastercard® credit card also offers a relationship perk through the Preferred Rewards for Business program. This card earns an unlimited 1.5% back on all purchases, but you can boost your return depending on how much money you have deposited across Bank of America business deposit accounts and Merrill business investment accounts (with the lowest tier starting at $20,000). This bonus will raise your cash-back rate by 25% to 75%, which means cardholders can earn up to 2.62% back on every purchase.
- Solid flat-rate return on all purchases
- Especially rewarding if you qualify for Bank of America Preferred Rewards for Business
- Intro APR doesn't apply to balance transfers
- Foreign transaction fee
Information about Bank of America cards has been collected independently by CNBC Select and has not been reviewed or provided by the issuer prior to publication.
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
Bottom line
Chase Ink Business Cash Credit Card is getting a facelift. While these changes aren't dramatic, they are all positive. The welcome bonus is easier to earn than before, and you'll have an opportunity to earn more cash back if you also have a Chase business checking account. If you prefer to earn cash-back rewards, this remains one of the best cash-back business credit cards.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every personal finance article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of financial products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
Read more
For rates and fees of the The American Express Blue Business Cash® Card, click here.
