You could earn $750 (or 75,000 Ultimate Rewards points) with new Chase Ink sign-up offers

Nov 10, 2020

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While certainly not the most important aspect of a credit card, a good sign-up bonus can help justify adding a certain card to your wallet. We’ve seen a lot of credit cards offer elevated sign-up bonuses in recent months, and Chase is adding two of its Ink business cards to that list.

Starting on Nov. 10, 2020, you can earn $750 bonus cash back after you spend $7,500 in the first three months of account opening on the Ink Business Cash Credit Card and Ink Business Unlimited Credit Cards. Both are no-annual-fee business credit cards that offer cash back in the form of points that are worth 1 cent each. But remember that you can transfer rewards between Chase accounts if you have a Chase Ultimate Rewards credit card such as the Chase Sapphire Reserve or Ink Business Preferred Credit Card, that $750 can be converted into 75,000 Ultimate Rewards points. That would make them worth an impressive $1,500.

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Keep in mind that these are business credit cards. While you don’t need to have an established office with multiple employees to apply (meaning freelancers and sole proprietors are also eligible), you will need to have a business of some sort to apply for these cards.

Let’s run through an overview of each card to see which would be best for your small business.

Ink Business Cash Credit Card

(Photo by John Gribben for The Points Guy)

Annual fee: $0

Earning rate: 5% cash back on the first $25,000 you make in combined purchases each account anniversary year at office supply stores and on internet, cable and phone services, 2% cash back on the first $25,000 you make in combined purchases at gas stations and restaurants each account anniversary year, 1% on all other purchases

Who should apply: The Ink Business Cash is great for anyone who spends a significant amount at office supply stores and on internet, cable and phone services. Office supply stores is a particularly beneficial bonus category because you can often find a wide array of gift cards available for purchase. This means you could earn 5% back on gift cards for merchants that don’t typically earn bonus rewards (Amazon, for example, if you don’t have a card that earns specifically on those purchases such as the Amazon Prime Visa), which maximizes spending on purchases that otherwise may have only earned 1% or 1x on rewards.

Check out the full card review for the Ink Business Cash.

Ink Business Unlimited Credit Card

(Photo by John Gribben for The Points Guy)

Annual fee: $0

Earning rate: 1.5% cash back on all purchases

Who should apply: The Ink Business Unlimited is a great option for small businesses and sole proprietors who don’t have concentrated in specific spending categories. You’re getting a flat 1.5% across purchases no matter the category. While it’s not the most lucrative flat-rate option out there for business owners, it does particularly come in handy if you have Chase Ultimate Rewards credit cards to turn that 1.5% into 1.5x (a 3% return based on TPG valuations).

Check out the full card review for the Ink Business Cash. 

Are these elevated bonuses worth it?

While these bonuses certainly don’t compare to the current offer on the Chase Sapphire Preferred Card (100,000 bonus points after you spend $4,000 in the first three months from account opening.), or the 100k bonus after spending $15,000 on purchases in the first three months of account opening still available on the Ink Business Preferred Credit Card, $750 (or 75,000 UR points) is still a valuable option for those who are eligible and already have the Ink Business Preferred.

The $7,500 spending requirement in the first three months is higher than your typical spending requirement for personal credit cards, but it should still be manageable for most small businesses. You’re essentially getting 10% back on your first $7,500 in purchases those first three months if you hit the bonus, which is a great return. And that’s in addition to any rewards you get from the bonus categories.

If you know you’ll be able to utilize one of these cards for your business spending and can hit the bonus, it’s definitely worth considering.

However, keep in mind that these cards are beholden to Chase’s 5/24 rule. If you’ve opened five or more credit cards across issuers in the past 24 months, you’ll almost certainly be denied for the cards.

Bottom line

An additional $750 in cash back rewards is a solid offer going into the holiday season. And if you can combine rewards with an existing Ultimate Rewards account, this bonus offer is even more valuable. While you do have to consider 5/24 when applying, it’s certainly worth taking a look at. Most small businesses should be able to hit the spending threshold to take advantage of the bonus, and both of these no-annual-fee Ink business credit cards can be solid additions to your wallet.

Featured image by The Points Guy

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