Ink Business Cash: A Comprehensive Guide to Earning and Redeeming Rewards

Ink Business Cash: A Comprehensive Guide to Earning and Redeeming Rewards

For small business owners, every penny counts. Managing expenses and maximizing returns is crucial for growth and success. That’s where the Ink Business Cash® Credit Card from Chase comes in. It’s a popular choice for entrepreneurs looking to earn rewards on their everyday business spending. This article will break down everything you need to know about the Ink Business Cash, from earning and redeeming rewards to understanding its key features and benefits.

What is the Ink Business Cash Credit Card?

The Ink Business Cash is a credit card specifically designed for small business owners. It offers a compelling rewards program focused on common business expenses, along with valuable perks and benefits that can help you manage your finances more efficiently. Unlike some business cards that require a substantial annual fee, the Ink Business Cash boasts a $0 annual fee, making it an accessible and attractive option for businesses of all sizes.

Why Choose the Ink Business Cash?

The Ink Business Cash stands out for several reasons:

• Generous Rewards Program: Earns valuable rewards on common business spending categories.
• No Annual Fee: Saves you money compared to cards with annual fees.
• Introductory APR Offer: Provides a period of 0% APR on purchases, helping you manage cash flow.
• Employee Cards: Allows you to issue employee cards to track and manage spending.
• Purchase Protection: Offers coverage against damage or theft of eligible purchases.

Earning Rewards: Maximize Your Ink Business Cash Potential

The Ink Business Cash shines when it comes to its rewards program. Understanding how to maximize your earnings is key to unlocking its full potential. Here’s a breakdown:

• 5% Cash Back: Earn 5% cash back on the first $25,000 spent in combined purchases each account anniversary year at:
  • Office supply stores
  • Internet, cable and phone services
• 2% Cash Back: Earn 2% cash back on the first $25,000 spent in combined purchases each account anniversary year at:
  • Gas stations
  • Restaurants
• 1% Cash Back: Earn 1% cash back on all other purchases.

Understanding the $25,000 Spending Cap:

It’s important to note the $25,000 spending cap on the 5% and 2% bonus categories. Once you reach this limit in combined spending across these categories during your account anniversary year, you’ll earn 1% cash back on subsequent purchases in those categories.

Tips for Maximizing Your Rewards:

• Track Your Spending: Monitor your spending in the bonus categories to ensure you’re maximizing your earnings before hitting the $25,000 cap.
• Strategic Purchases: Make sure to use your Ink Business Cash for all eligible purchases in the 5% and 2% categories to earn the highest rewards.
• Gift Cards: Consider purchasing gift cards from office supply stores and gas stations for future use. This can help you maximize your 5% cash back even if you don’t need the supplies or gas immediately.
• Online Ordering: Many office supply stores have online portals where you can purchase a wide variety of items and still earn the 5% cash back.

Redeeming Your Rewards: Flexible Options for Your Business

The Ink Business Cash offers several flexible redemption options for your earned rewards:

• Cash Back: Redeem your rewards for a statement credit to your account. This is a straightforward way to reduce your outstanding balance.
• Gift Cards: Choose from a variety of gift cards from popular retailers and restaurants.
• Travel: Redeem your rewards for travel through Chase Ultimate Rewards.
• Purchases with Points: Use your rewards to pay for purchases through Chase Pay.

The Power of Combining with Chase Ultimate Rewards:

One of the most valuable aspects of the Ink Business Cash is its ability to be paired with other Chase cards that earn Ultimate Rewards points, such as the Chase Sapphire Preferred® or Chase Sapphire Reserve®. By combining your Ink Business Cash rewards with Ultimate Rewards points, you can unlock even greater value.

How it Works:

If you also have a Chase card that earns Ultimate Rewards points, you can transfer your Ink Business Cash rewards to your Ultimate Rewards account. This allows you to:

• Transfer to Travel Partners: Transfer your points to airline and hotel partners for potentially higher-value travel redemptions.
• Redeem for Travel at a Higher Value: Redeem your points for travel through the Chase Ultimate Rewards portal at a higher rate than you would if redeeming for cash back. For example, with the Chase Sapphire Preferred, your points are worth 1.25 cents each when redeemed for travel through the portal. With the Chase Sapphire Reserve, they’re worth 1.5 cents each.

Key Features and Benefits of the Ink Business Cash

Beyond the rewards program, the Ink Business Cash offers several features and benefits that can be valuable for small business owners:

• Introductory 0% APR: Enjoy a 0% introductory APR on purchases for a limited time (check the current offer). This can be helpful for managing cash flow when making large purchases or during seasonal fluctuations.
• Employee Cards: Issue employee cards at no additional cost. This allows you to track spending by employee and set spending limits.
• Purchase Protection: Receive coverage against damage or theft of eligible purchases for a certain period (refer to the card’s terms and conditions for specific details).
• Fraud Protection: Benefit from zero liability protection for unauthorized charges.
• Travel and Emergency Assistance Services: Access travel and emergency assistance services when traveling.

Eligibility and Application Process

To be eligible for the Ink Business Cash, you generally need to have a good to excellent credit score. The application process typically involves providing information about your business, including its name, address, industry, and annual revenue. You will also need to provide your personal information, such as your Social Security number and date of birth.

Before You Apply:

• Check Your Credit Score: Ensure you have a good to excellent credit score to increase your chances of approval.
• Gather Business Information: Have your business information readily available, including your Employer Identification Number (EIN) if applicable.
• Review the Terms and Conditions: Carefully review the card’s terms and conditions, including the APR, fees, and rewards program details.

Comparing the Ink Business Cash to Other Business Cards

While the Ink Business Cash is a strong contender, it’s important to compare it to other business cards to determine the best fit for your specific needs. Consider factors such as:

• Annual Fee: Compare the annual fee (or lack thereof) to the rewards and benefits offered.
• Rewards Program: Evaluate the rewards categories and earning potential based on your business spending habits.
• Introductory APR: Consider the length and terms of any introductory APR offers.
• Additional Benefits: Compare additional benefits such as travel insurance, purchase protection, and employee card options.

Alternatives to Consider:

• Ink Business Preferred® Credit Card: Offers a higher points earning rate on travel and select business categories, but comes with an annual fee.
• American Express® Business Gold Card: Offers flexible rewards and a wide range of business benefits, but also has an annual fee.
• Capital One® Spark® Cash Plus: Offers a flat cash back rate on all purchases and a bonus each year, but has an annual fee.

Conclusion: Is the Ink Business Cash Right for You?

The Ink Business Cash is a valuable tool for small business owners looking to earn rewards on their everyday spending without paying an annual fee. Its generous rewards program, flexible redemption options, and additional benefits make it a compelling choice for businesses of all sizes.

Key Takeaways:

• The Ink Business Cash offers a strong rewards program with 5% cash back on office supplies and internet, cable and phone services, and 2% cash back on gas and restaurants.
• It has no annual fee, making it an accessible option for businesses on a budget.
• Combining your Ink Business Cash rewards with Chase Ultimate Rewards points can unlock even greater value, especially for travel redemptions.

Before applying, carefully consider your business spending habits and compare the Ink Business Cash to other business credit cards to ensure it’s the best fit for your needs. By understanding its features and benefits, you can maximize your rewards and leverage the Ink Business Cash to help your business thrive.