Ever since starting Financial Samurai in 2009, I've always had a Chase Ink Business Cash Credit Card to charge all my expenses. And during this time, I've racked up hundreds of thousands of cash credit to spend in the Chase Ultimate Rewards program or use as statement credit.
I've got both a business checking and a savings account with Chase. I also have my business credit card with Chase and my personal Chase Sapphire Preferred credit card with Chase. It's safe to say that I'm a fan and highly recommend using their products as well.
Chase is one of the largest banks with America. Year after year, they also have one of the best suite of business and personal credit cards on the market.
Let's first discuss why it's important to have a small business credit card if you are an entrepreneur. Then we'll do a deep dive into the benefits of the Chase Ink Business Cash Credit Card.
Reasons To Own A Business Credit Card
Whether you're opening your very first business account or looking for a new one, there are several benefits to note of having a reliable small business credit card. They are:
- Earn rewards that best fit your needs: cash back, travel, gift cards, etc.
- Improves organization and separates business expenses from personal
- Builds credit history for your business
- Responsible use can help you get approved for business loans
- Easier to set and monitor limits on employee spending
- Business cards typically have higher credit limits
- Some small business credit cards offer longer billing cycles up to 60 days
Owning a small business takes a lot of work. But with the Chase Ink Business Cash credit card, it helps make running your business easier. You not only get cash back, you also get buyers protection, and an easy way to track all your business expenses.
Chase Ink Business Cash Credit Card Review
I've been a cardholder of the Chase Ink Business Cash Credit Card for over 10 years. It's reliable, the rewards system is easy to use, and best of all I've earned thousands of dollars in cash back rewards.
- Get $750 cash back if you spend $7,500 in the first three months
- 0% intro APR for the first year on purchases
- Earn 5% cash back on office supplies, internet/cable/phone each year ($25,000 combined limit)
- 2% cash back rewards on gas and restaurants each year ($25,000 combined limit)
- 1% on all other purchases
- There's no annual fee to worry about
- Employee cards are free
- Set personalized account alerts and spending limits for each employee
- Flexible rewards can be redeemed for cash, travel, gift cards, Apple purchases and more
- Built-in fraud and purchase protections covering newly bought items for 120 days against damage or theft (up to $10,000 per claim and up to $50,000 per account).
- As a cardmember you’ll also enjoy extended warranty for eligible purchases, as the card extends the US manufacturer’s warranty by an additional year (on eligible warranties of three years or less).
- A final perk of holding the Ink Business Cash Card is that it offers an auto collision damage waiver. Essentially, when you rent a car for business purposes and charge it to this card, you can decline the rental car company’s collision insurance and be covered by the card in the case of theft or collision damage. This is valid on most rentals both in the US and abroad — make sure to check the fine print for more details.
So Many Great Perks
I just love the fact that there's no annual fee with the Chase Ink Business Cash credit card. No matter how good the benefits are, paying an annual fee to spend money feels like an anathema.
Besides, getting $750 cash back after spending $7,500 in the first three months is a huge bonus! That's like getting a 10% cash back return. My mantra is to never pass up free money. And $750 is a lot of free money.
If you're curious about other business credit cards, Capital One Business Credit Cards also have great rewards programs. It's worth opening a couple business credit cards, as long as you're disciplined, to maximize all of the sign on bonus offers and rewards. Consider staggering your usage and applications if you don't have a lot of upcoming expenses to meet the sign on bonus requirements.
You Don't Need To Own A Business To Apply
You know what else is interesting about signing up for the Chase Ink Business Cash Credit Card? A common misconception people have about a business credit card is that you need to own an S-Corp or LLC with an Federal Employer Identification Number (EIN). You don't.
If you’re a freelancer or you have a side gig driving for Uber, for example, you should consider applying. In fact, you don’t need a Federal Employer Identification Number (EIN) to apply for most business products, since most issuers let you use your Social Security Number instead.
Below is a sample of a cupcake business you can run out of your own if you want. You can be a sole proprietor and cook and sell away! You can charge $25,000 a year in operating expenses on your Ink Business Cash card to rack up cash back credits in a hurry.
Who Should Own The Chase Ink Business Cash Card?
Still on the fence about getting the Chase Ink Business Cash Credit Card? I completely understand as I've spent hours going through hundreds of credit card to highlight only the best. It's overwhelming!
Here are some attributes that make owning the Chase Ink Business Cash credit card a great fit. If you relate to at least three of the attributes, then I think this is the business credit card for you.
- Your business is within three years old
- Each year, your business generates under $2 million a year in revenue and earns less than $1 million a year in operating profit
- Simplicity is your mantra. You like to keep things simple because you have a lot going on
- The 0% APR introductory offer for one year appeals to you because you have a large purchase to make
- You hate annual fees
- Flexibility of cash rewards is something you want
- You want an easy way to keep track of all your business expenses
- You're already banking with Chase
- Freelancing and side hustling outside of your day job is something you enjoy
- Your credit score is above 690
- Minimizing your taxable income with legitimate business expenses is important to you
Chase Ink Business Cash Is The Card For You
If you fulfill at least three of the above, and hopefully a lot more, the Chase Ink Business Cash card is the card for you. I've been a happy cardholder for over 10 years and I plan to keep the card for hopefully another 10 years.
Pay Off Your Debt Faster
For a personal loan, check out Credible. They are a lending marketplace where lenders compete for your business. It's free to get Personalized Prequalified Rates.
Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time.
For further suggestions on saving money and growing wealth, check out my Top Financial Products page.
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About the Author:
Sam worked in investment banking for 13 years at Goldman Sachs and Credit Suisse. He received his undergraduate degree in Economics from The College of William & Mary and got his MBA from UC Berkeley. In 2012, Sam was able to retire at the age of 34 largely due to his investments that now generate roughly $250,000 a year in passive income.
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