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Update: Some offers mentioned below are no longer available. View the current offers here – Ink Cash Business Card
A few weeks ago, we wrote about increased sign-up bonuses on two popular business credit cards from Chase: the Ink Plus Business Card and the no-annual-fee Ink Cash Business Card. The increased offer on the Ink Cash is set to end this Sunday October 18th, so if you’ve been eyeing this card, you only have a few more days to take advantage!
As a reminder, here are the details on the card:
- Earn $300 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
- Named “Best for Rewards for Small Business” MONEY® Magazine, October 2014
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV 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
The normal sign-up bonus is $200, so this represents a significant jump and is great way to avoid an annual fee. Any card that offers a 5% bonus category is automatically a solid option in my book, and the fact that you earn this on all telecommunications and office supply store purchases puts this card among the top fee-free credit cards out there. Remember too that many office supply stores sell retail gift cards, allowing you to extend the 5x bonus to merchants like Target or Home Depot.
The value proposition on the card jumps even higher if you also have a card that earns full Ultimate Rewards points (like the Chase Sapphire Preferred Card). Even though the card is billed as offering cash back, you can actually convert those earnings to Ultimate Rewards points if you link it to a card like the Sapphire Preferred, just like you can do with the Chase Freedom. By converting the $300 sign-up bonus into 30,000 Ultimate Rewards points, you’re actually more than doubling its value to $630 (based on TPG’s most recent valuations).
For more information on how to do this, be sure to check out Jason Steele’s post on Why Chase Freedom Isn’t Just Another Cash-Back Card.
Applying for a Business Card
Even though the Ink Cash is marketed as a business credit card, you don’t need to have a formal business with an EIN number in order to apply for it. For those of you who have small businesses, instead of applying with a Tax Identification Number, you can enter your social security number in the box and indicate that that you are a sole proprietor.
There are several key differences between personal and business credit cards, including different category bonuses and lucrative sign-up offers. Be sure to check out TPG’s top 10 reasons to get a business credit card for more details.
The Ink Cash Business Card doesn’t get as much press as its premium counterpart, the Ink Plus Business Card, which comes with a $95 annual fee, though also has an increased sign-up bonus of 60,000 Ultimate Rewards points after you spend $5,000 on purchases in the first three months from account opening. However, the Ink Cash can be the better option for a few reasons:
- If you want to avoid an annual fee
- If you have a card like the Sapphire Preferred
- If you don’t spend more than $25,000 per year in the 5x bonus category
I have personally held the Ink Plus for a few years now but have been considering a switch to the Ink Cash since these statements all apply to me. This increased sign-up bonus may lead me to finally pull the trigger, and if you’re in the same boat, time is running out!
Are you planning on applying for the Ink Cash before October 18th?
Ink Cash® Business Credit Card
|Intro APR||Regular APR||Annual Fee||Foreign Transaction Fee||Credit Rating|
|0% for 12 months||13.49%-19.49% Variable||$0||3.00%||Excellent Credit|