How Ink Business Money Can Get You High Rewards For Your Business Needs
If you want to earn rewards on your business spending with a credit card, you have a lot to think about. Are you ready to pay an annual fee? And do you prefer to earn flexible rewards or cash back?
More importantly, what does your business spend the most on? After all, your rewards are often tied to the type of purchases your business makes.
The Ink Business Cash® credit card tends to tick a lot of boxes for small business owners, and it’s easy to see why. This business card has no annual fee and you can earn a $750 cash bonus when you spend $7,500 on purchases within three months of opening the account. Cardholders even get an introductory APR offer on purchases, and the rewards are quite flexible.
In the meantime, the Ink Business Cash credit card allows small business owners and entrepreneurs to earn 5% on common business expenses (up to $25,000 spent on combined purchases each account anniversary year). Read on to find out how this business credit card gives out cash back on purchases, how its earning structure compares to similar cards, and how you can make the most of this offer.
Ink Business Cash Reward Structure
- welcome bonus: $750 bonus cash when you spend $7,500 on purchases within three months of account opening
- Awards: 5% cash back on the first $25,000 spent on combined purchases at office supply stores and on Internet, cable and phone services in each account anniversary year; 2% back on the first $25,000 spent on combined purchases at gas stations and restaurants in each account anniversary year; 1% off everything else
- Annual subscription: $0
While earning 5% cash back on select business purchases is really great, it’s important to note the $25,000 cap for each bonus category. If you spend more than $2,084 per month (on average) on office supply stores and internet, cable, and phone services each year, you’ll hit the 5% category, after which you’ll only earn 1% in return. The same goes for earning 2% on the first $25,000 spent on combined gas station and restaurant purchases each account anniversary year.
For the most part, these limits make the Ink Business Cash credit card a better option for businesses with low to medium regular expenses. Of course, you can also use the Ink Business Cash credit card in its bonus categories until you reach the $25,000 spending threshold for each. After that, you can switch to another business credit card that offers more than 1% back on those purchases.
What purchases earn bonus rewards?
If you’re wondering what purchases count towards this card’s bonus categories, Chase is very transparent about the details. In fact, the card issuer has an entire page on their website devoted to Rewards Category FAQ. Here’s how Chase defines qualifying purchases in each bonus category offered by the Ink Business Cash credit card:
Service stations“Merchants in the gas station category sell automotive gasoline that can be paid for either at the pump or inside the station, and may or may not sell other goods or services at their location. Merchants who do not specialize in the sale of automotive gasoline are not included in this category; for example, truck stops, marinas, fuel oil and propane distributors, and home heating companies.
Internet, cable and phone services“Only purchases for internet, cable, satellite TV and radio, cellular, wireless data and landline services will be eligible. Hardware purchases are not included. If you purchase or pay for your Internet, cable and satellite television, telephone, or related services in a merchant’s store that is not classified by the merchant in the applicable service category, the purchase or payment will not qualify; for example, telephone bill payments in a merchant’s store that is classified as a telephone hardware store. »
Office supply stores“Merchants in the office supply store category specialize in selling a variety of office supplies. Merchants that sell a wide variety of general goods that may include office supplies, for example, discount stores, department stores, or electronics stores, are not included in this category. Also, merchants and wholesale distributors who specialize in a few major office supplies, such as computer software and hardware, office furniture, photocopiers and office equipment, are not included even if they sell also smaller office supplies.
Restaurants“The primary business of merchants in the catering category is on-premises or on-premises catering, including fast food restaurants and fine dining establishments. Merchants who sell food and beverages located in facilities such as sports stadiums, hotels and casinos, theme parks, grocery stores and department stores will not be included in this category unless the merchant has configured these purchases to be categorized as a restaurant. Purchases made at bakeries, caterers, or gift card merchants are not included in the category. Delivery service traders will be included if they classify as restaurant traders.
How does Business Cash ink compare to other Chase business cards?
The Ink Business Cash credit card offers an attractive rewards proposition for business owners, but other Chase business credit cards might suit your needs better. Ultimately, the best card for you depends on your spending habits, the type of rewards you want to earn, and how comfortable you are with annual fees.
The table below shows how the Ink Business Cash credit card compares to other popular Chase business cards.
|Sign-up bonus||$750 in bonus cash when you spend $7,500 on purchases within three months of account opening||$750 in bonus cash when you spend $7,500 on purchases within three months of account opening||100,000 points when you spend $15,000 on purchases within three months of account opening|
|Introduction AVR||0% APR on purchases for 12 months, followed by a variable APR of 13.24% to 19.24%||0% APR on purchases for 12 months, followed by a variable APR of 13.24% to 19.24%||N / A|
||1.5% cash back on all purchases||
|Redemption options||Redeem rewards for cash back, statement credits, gift cards, merchandise and travel through Chase Ultimate Rewards||Redeem rewards for cash back, statement credits, gift cards, merchandise and travel through Chase Ultimate Rewards||
As you can see, the Ink Business Unlimited® credit card disables bonus categories, but instead gives you a higher rewards rate (1.5% cash back) on all purchases. This card also allows you to redeem your rewards for cash back, statement credits, gift cards, merchandise and travel through Chase Ultimate Rewards. Finally, the Ink Business Unlimited credit card offers an introductory APR of 0% over 12 months on purchases (13.24% to 19.24% variable thereafter).
On the other hand, the Ink Business Preferred® credit card does not offer traditional cash back. Instead, this card offers Chase Ultimate Rewards points which are good for regular options like statement credits and gift cards as well as point transfers to Chase airlines and hotel partners. You also get 25% more value when you use points from the Ink Business Preferred Credit Card to book travel through Chase. Annual fee of $95 applies.
How to Maximize Rewards Earned with Ink Business Cash
If you opt for the Ink Business Cash credit card, there are some steps you can take to get the most out of it. For example:
- Make sure you always use your card in its bonus categories. At the very least, use this card until you reach the combined spend threshold of $25,000 in the 2% and 5% categories.
- Combine it with another card offering more than 1% back. You can also pair this Chase credit card with a flat rate card that offers over 1% cash back on out-of-category purchases.
- Have a plan to repay purchases within 12 months. Although the Ink Business Cash credit card offers an introductory APR of 0% on purchases for 12 months, the good times won’t last forever. Once the first year is over, your balance will start earning interest at the regular variable APR of 13.24% to 19.24%.
- Take advantage of the benefits you enjoy. While the Ink Business Cash benefits aren’t overly generous, you get benefits like primary car rental coverage when you rent a car for business purposes, travel and emergency assistance services, l curbside shipping, purchase protection and extended warranties.
The bottom line
If you want to earn a ton of rewards on your business spending, the Ink Business Cash Credit Card can help you get there. You can earn bonus rewards (up to 5% back) in several popular categories, and there’s no annual fee, to boot.
Even so, you may want to consider other business credit cards before deciding. Many business credit cards offer rewards with no annual fee, including cards from issuers like Capital One and American Express.