Chase Ink Business Cash℠ Card Review – Info Money Manage

Small business owners looking for a company credit card to cover most of their day to day expenses can take advantage of the Chase Ink Business Cash℠ card.

The card offers a great cash back program, and is ideal for those individuals who exhibit good to excellent credit, and need ways to unify their spending within a single account.

Thanks to an impressive cash rewards earn rate, additional cards available at no cost, and a bevy of ancillary services and perks, the Ink Business Cash℠ card presents small businesses with a noteworthy twist on the traditional cash back card.

Chase Ink Business Cash℠ Card Overview

The Ink Business Cash℠ card from Chase Bank is an enticing solution for owners who are seeking to unify their business expenses while still generating useful rewards.  The card, which is aimed at business owners with good to excellent credit, is accompanied by a highly advantageous cash back plan that delivers some of the highest earn rates available. Moreover, the card’s many ancillary perks and features give owners and their companies the ability to stabilize their cash flow, cover expenses, and manage their finances effectively.

The Ink Business Cash℠ card’s APRs largely match with the industry average, and is especially beneficial when considering the advantageous 0 percent APR period of 12 months for new accounts. Additionally, a generous introductory bonus lets you quickly build a cash rewards account. Owners can also request cards for employees at no extra cost with customizable spending privileges.

I was also pleased to see the card incorporates business-specific advantages. These include services such as banking, payroll management tools, and lines of credit. With such a useful collection of services, alongside a valuable cash rewards model, the Ink Business Cash℠ card has significant potential for business owners who are looking for a way to turn their expenses into benefits and easily pay their monthly costs.

Chase Ink Business Cash℠ Card Rewards & Benefits

I was impressed at the breadth of services and benefits the Ink Business Cash℠ card dispenses to companies and cardholders. Moreover, the card’s cash back rewards plan lets businesses quickly build up a cushion that can be used later for a variety of purposes.

Layered cash back rewards

One of the first things that stood out to me is that cardholders can earn cash back of up to 5 percent on eligible purchases, a rate which is substantially higher than many competitors. Customers can quickly rack up points at this rate when they use the Ink® Business Cash℠ card with their first $25,000 in annual spending at office supply stores alongside internet, phone, and cable bills. This includes major supply stores such as Office Depot, and can be a major boon for companies who prefer to handle most of their business expenses and bills with credit.

Moreover, cardholders can earn 2 percent cash back on gas station and restaurant purchases for the first $25,000 in combined purchases every year. While this may be less appealing to many owners, it is useful for companies that have staff constantly in the field, or sales teams that must wine and dine customers on a regular basis.

Finally, all other purchases earn 1 percent cash back with no limit on how much you can earn. This rate is well within the industry average, and can be useful when spending on regular expenses and other payments such as restocking inventory, utility bills, or even everyday purchases.

I was also pleased to see Chase helps new applicants start off their accounts with an introductory $500 bonus when they spend $3,000 within the first three months of opening their account.

This is a standard offer for many cash back cards, and lets cardholders quickly earn enough points to start accumulating added-value. Customers can also redeem their cash rewards in a variety of ways including cash, gift cards, products and services available through Chase Bank or eligible third parties, and even to pay for travel. Most importantly, cash rewards will not expire if accounts are kept open and in good standing.

Purchase & Security Protections

The Ink Business Cash℠ card offers a broad selection of purchase protections, as well as security features that protect users’ identities and accounts from fraud. The security starts with zero liability protection on unauthorized charges from cardholders’ accounts or cards. This is a standard feature in most cards, but no less important in an age where fraud and identity theft are becoming increasingly commonplace.

Additionally, Chase offers enhanced fraud protection which includes real-time monitoring of account activity, as well as immediate alerts when suspicious charges are made. All Ink Business Cash℠ cards are also outfitted with chip technology, which reduces the likelihood of fraud.

I was happy to see Chase also extends protections to purchases made with the card, which can help offset faulty products, deceptive purchases, and more. All new purchases are covered for up to 120 days against theft or damage up to $10,000 for an individual claim, and $50,000 for each account. Cardholders can also add up to an additional year to manufacturers’ warranties of three or less years for eligible purchases made with the card.

Benefits For Business

In the end, this is a card for businesses, and it truly shines when it comes to helping companies manage their finances better and meet their obligations. From the start, cardholders can choose between opening a business line of credit, or a commercial one, which has a higher limit and is meant for larger businesses. This lets companies plan their cash flow in advance.

Another major plus the Ink Business Cash℠ card delivers is the ability to request additional cards for employees at no extra cost. In addition to being free, new cards can be accompanied by special permissions to allow administrators to oversee and track finances with greater ease.

To cement itself as a one-stop destination for cardholders, Chase Bank grants cardholders the option to take advantage of merchant services which include secure, flexible in-person and online payment methods.

For larger companies utilizing the card, Chase also offers their commercial banking services, though it requires yearly revenues of at least $20 million. More importantly, Ink Business Cash℠ cardholders have access to ADP payroll solutions, which simplify the process of tracking employees, paying salaries, and developing better compensations plans. Overall, customers can improve their management and finances at no cost every year.

Rates & Fees

Like many cards aimed at businesses, the Ink Business Cash℠ card is accompanied by industry-standard interest rates, though it does have some slightly high fees. Overall, it is a competitive choice option within the market, and can give new cardholders a great boost with a friendly introductory 0 percent APR period, the regular rate would apply after that.

APR

While the company’s APR rates fall in-line with the industry average, its upper range of available rates makes it a favorable credit card for less creditworthy applicants. However, new customers can take advantage of the company’s introductory 12-month period of 0 percent APR on transfers and purchases. For cardholders looking to transfer existing balances, this may be useful, though the card does charge a $5 or 5 percent fee on transfers, based on the greater of the two amounts.

This card does have a high cash advance rate and your rate could be raised if you are late on your payments.  Customers who miss a payment or have a transaction returned will incur a default APR. While this isn’t uncommon with some business cards, the new APR may be left on accounts indefinitely, even after late payments are cleared. Overall, I was impressed by some of the company’s rates. But, customers who regularly experience fluctuating cash flows may be better suited to cards that grant greater flexibility.

Fees

Even though it offers some competitive APRs for certain cardholders, the Ink Business Cash℠ card is accompanied by some potentially hefty fees. Customers don’t have to pay an annual fee, which is useful and especially beneficial for customers who consistently keep their balance at $0 from month to month. However, balance transfers incur a fee even during the introductory 0 percent APR period of either $5 or 5 percent of the amount transferred, whichever is higher. Cash advances carry similar fees, with either a $15 charge or five percent, based on the greater amount.

I was also somewhat disappointed to see the card includes a three percent fee on foreign transactions, something many competitors eschew, though it isn’t a standard feature. Nonetheless, the card remains advantageous for customers who can consistently pay their balances and are not seeking the ability to transfer balances. The zero annual fees offset the APR by reducing the overall ancillary payments cardholders must make every year.

Chase Ink Business Cash℠ Compared

Card Details »

Chase Ink Business Cash℠ is great for some business owners, but we wouldn’t be doing our due diligence if we didn’t provide you with an alternative. The Capital One® Spark® Cash for Business is a fantastic card for business owners, providing a solid cash back program no expiration date on your points.

In many cases – indeed, in most, it might be a better option for most business owners.

For a more detailed comparison of the two cards, here’s a helpful table:

As you can see, if your looking for a more straightforward cash back business card and can swallow the $95 annual fee (waived the first year), Capital One’s Spark® Cash for Business is for you.

Should you apply for the Chase Bank Ink Business Cash℠ Card

Small business owners who are looking for a way to unite their expenses and payments under a single account should definitely consider the Ink® Business Cash℠ card. The company’s cash back rewards, which include up to an impressive 5 percent earn rate on eligible purchases, mean that business owners who regularly use their card can generate a significant amount of cash rewards to reinvest or use for other purposes.

Moreover, the card’s many advantages for businesses alongside value-added services from Chase Bank give companies better tools to manage their finances, payroll, and customer transactions. For business owners exhibiting good to excellent credit, the Ink Business Cash℠ card offers an attractive combination of perks, rewards, and a straightforward card for companies of all shapes and sizes.

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