Want to learn how to earn up to $1,000 in bonus points with a Chase Ink Business Credit Card? Read our review to figure out which Ink product is best for your business.
You could earn up to a $800 bonus, plus cash back on everyday purchases. These cards, targeted at business owners, are a great option if you’re a big business spender. But each has its own strengths, so read on to find out which Chase Ink card would work best for you.
Ink Business Cash℠ Credit Card
The Ink Business Cash℠ Credit Card is a great option for business owners who don’t pay tens of thousands of dollars in expenses annually. Since it has no annual fee, you don’t need to worry about out-earning your fee. And it’s got great cash back rewards that even micro businesses will find useful.
Cash Back Rewards
The Ink Cash Business Credit Card offers rewards particularly on business-related expenses, but you can use it for other expenses and net some cash back, too. Here’s the current offer:
- Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
- Named “Best Rewards Card for Small Business Owners” by Kiplinger’s Personal Finance, July 2017
- 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
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
- Earn 1% cash back on all other card purchases with no limit to the amount you can earn
- 0% introductory APR for 12 months on purchases and balance transfers
- Employee cards at no additional cost
- No Annual Fee
Those first two categories with the $25,000 spending limits will roll over each account anniversary. And your rewards don’t expire as long as your account is open.
More Business Cards: See our list of the best small business credit cards here.
Right now, when you apply for the Ink Cash Business Credit Card, you’ll qualify for a great bonus. When you spend $3,000 on purchases within three months of opening your account, you’ll get $500 cash back.
While you can simply use your earned cash back rewards as a statement credit or deposit to your bank account, you don’t have to. As with the Chase Freedom Unlimited, this one is advertised as a cash back card. But you can actually redeem your cash back rewards for Ultimate Rewards points, which you can use in Chase’s flexible points program.
You can redeem your cash back for a 1:1 value, starting at 20,000 points for $20 cash back. But you can also go through the Ultimate Rewards program to redeem points for travel, gift cards, Amazon.com purchases, or cardholder-exclusive experiences.
If you’d like to dive into how to redeem your Chase points for the most value, check out this comprehensive article from The Points Guy. The bottom line is that cash back may be the most convenient option, but you can actually net higher value if you transfer your points to travel partners.
As with most Chase cards, this one offers purchase protection, auto rental collision damage waivers, and extended warranty protection. You can also get employee cards with individual spending limits, as needed, which is convenient for business owners. You can stay on top of employee spending with push alerts for purchases, a well.
Also, you can manage our account using the Mobile Ink app, which lets you stay on top of purchases and payments.
This is a convenient credit card for many business owners, especially those whose big expense categories are in the 5% cash back areas. The Chase Ultimate Rewards program is a great option for saving on travel, whether for business or pleasure.
Ink Business Preferred℠ Credit Card
With a $95 annual fee, the Ink Business Preferred℠ Credit Card is designed for bigger business spenders. The points system works out to be quite similar to the Ink Cash card’s cash back system, however. But if you think you’ll overstep the Ink Cash card’s $25,000 category spending limits, you may want to switch over to Ink Business Preferred.
The Ink Business Preferred℠ Credit Card caters to similar spending categories as its sister card described above. Here’s what you can expect to earn:
- Earn 3 points per $1 on the first $150,000 spent in select categories each account anniversary year
- Earn 1 point per $1 on all other purchases with no limit to the amount you can earn
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
The categories earning 3 points are the following:
- Travel, including airfare, hotels, rental cars, train tickets, and taxis
- Shipping purchases
- Internet, cable and phone services
- Advertising purchases made with social media sites and search engines
Again, your points won’t expire as long as your account stays open. And your $150,000 category spending limits will roll over each year on your account holder anniversary.
Right now, new cardholders can earn 80,000 bonus points (about a $1,000 value when used for certain travel programs) when they spend $5,000 on purchases within three months of account opening.
As you might guess from the bonus category for hotel accommodations, theInk Business Preferred℠ Credit Card caters to business owners who travel frequently. Because of this, it comes with no foreign transaction fee, a must-have for those who travel internationally even two or three times a year.
The card also offers standard Chase perks. These perks include purchase protection, extended warranty protection, and return protection. You can also opt for travel protection. When you book your travel through Ultimate Rewards, you’ll get a 20% boost on your point value, which is basically 20% off your travel costs.
Again you can get employee cards, as needed, and you can establish individual spending limits for each of these cards. The mobile app will help you stay on top of spending, and you can check on employee purchases, payment dates, and more.
The Ink Business Preferred℠ Credit Card is great for international travelers. In fact, having no foreign transaction fee could very well make up for the $95 annual fee, depending on how often you travel.
However, this card does require more spending to get the most out of it. And the rewards are somewhat less flexible since you don’t have the easy cash back option.
Still, if you’re a business owner who will spend well over $25,000 in one of the bonus categories noted here, consider this card as opposed to the Ink Cash. Then, just enjoy booking travel through the Ultimate Rewards program or getting more bang for your buck by transferring your rewards points to your favorite travel rewards program.
Which Card is Right For You?
Deciding which credit card to use is highly personal and will depend, in this case, on how much money you spend each year. Also, take into account your travel habits. It’s not hard to spend tens of thousands of dollars on hotel expenses if you’re constantly on the road or traveling by plane. If this is the case, then consider using the Ink Business Preferred℠ Credit Card.
But if you’re a smaller business owner who wouldn’t dream of spending $30,000 on office supplies and phone services in a year, the Ink Cash Business Credit Card could be your best bet. You’ll save on the $95 annual fee, and with the flexible rewards program, you’ll still be able to tap Chase’s great travel rewards options.Topics: Credit Cards