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.
Ink Business Cash® Credit Card
Rewards
Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year (then 1%); 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year (then 1%); 1% cash back on all other purchases
Welcome bonus
Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening
Annual fee
$0
Intro APR
0% for the first 12 months from account opening on purchases; N/A for balance transfers
Regular APR
18.49% - 24.49% variable
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Foreign transaction fee
3%
Credit needed
Good/Excellent
Terms apply.
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, 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 7/21/2024
Chase Business Complete Banking®
Special offer
Earn $300 when you open a new Chase Business Complete Checking account. For new Chase business checking customers with qualifying activities.
Monthly maintenance fee
$15, with options to waive
Minimum deposit to open
None
Minimum balance
None required but maintaining a minimum daily balance of $2,000 in your account as of the beginning of each day of the statement period will waive the monthly maintenance fee
Annual Percentage Yield (APY)
N/A
Free ATM network
More than 16,000 Chase ATMs
ATM fee reimbursement
None
Small business perks
Multiple owners get individual debit cards, PINs and online access to the account; debit cards for employees for which the owner can control daily limits
Overdraft fee
$34 with ways to waive
Mobile check deposit
Yes, using the Chase Mobile® app
Terms apply. Chase Bank is a Member FDIC.
How to avoid the monthly fee:
Meet one of these conditions during your monthly statement period.
- $2,000 minimum daily balance
- $2,000 in purchases on your Chase Ink® Business Card(s)
- $2,000 in deposits from QuickAccept℠ and/or other eligible Chase Merchant Services transactions
- Link a Chase Private Client Checking℠ account
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 up to $50,000 in purchases per calendar year, then 1% cash back. 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
Rewards
Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back earned is automatically credited to your statement
Welcome bonus
Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
Annual fee
$0
Intro APR
0% for 12 months on purchases from date of account opening
Regular APR
18.49% - 26.49% variable; APRs will not exceed 29.99%
Balance transfer fee
Foreign transaction fee
2.7%
Credit needed
Excellent
See rates and fees, terms apply.
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.
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® credit card
Rewards
Earn unlimited 1.5% cash back on all purchases everywhere, every time.
Welcome bonus
$300 statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.
Annual fee
$0
Intro APR
0% Introductory APR on purchases for the first 9 billing cycles.
Regular APR
18.24% to 28.24% variable APR
Balance transfer fee
Either $10 or 4% of the amount of each transaction, whichever is greater.
Foreign transaction fees
3%
Credit needed
Excellent/Good
Terms apply.
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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.
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For rates and fees of the Blue Business® Cash Credit Card from American Express, click here.
