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Last week I wrote about the Ink Business Preferred℠ Credit Card, which is probably the single most well rounded business credit card out there. The card has a huge 80,000 point sign-up bonus (by my math the biggest bonus of any card), offers triple points in select categories, and also has generous purchase and travel protection. If I could only apply for one business card, that’s the one I’d get.
However, unfortunately I’m not eligible for the card due to the Chase 5/24 restriction, and instead I have the Ink Business Cash℠ Credit Card, which I love as well. While I think either card is great, in this post I wanted to share five reasons I love this card so much:
No annual fee
The Ink Business Cash has no annual fee. Typically no annual fee cards don’t offer huge rewards, but this card is an exception, as I’ll explain below.
I’d argue that this is on of the two most compelling no annual fee business cards, along with The Blue Business℠ Plus Credit Card from American Express, which offers 2x Membership Rewards points on the first $50,000 spent each year.
A $300/30,000 point sign-up bonus
The Ink Business Cash has a sign-up bonus of $300 cash back (or 30,000 points — more on that later) after spending $3,000 within three months. For a no annual fee card, this is a solid sign-up bonus, and it’s higher than it used to be.
Huge 5x points bonus categories
The card offers 5x points on the first $25,000 of combined purchases per account anniversary year at office supply stores, and on internet, cable, and phone services. If nothing else, earning 5x points on your cell phone and cable bill is huge, in my opinion.
2x points in two valuable categories
On top of that, the card offers 2x points on the first $25,000 of combined purchases per account anniversary year at restaurants and gas stations. While these are categories that other cards also offer bonuses on, that’s pretty generous for a no annual fee.
Ultimate Rewards points earning potential
On the surface the Ink Business Cash is a cash back card, as the name suggests. So when I talk about “points” above, each point gets you one cent cash back. However, you can do much better than that if you have the Chase Sapphire Preferred® Card, Ink Business Preferred℠ Credit Card, and/or Chase Sapphire Reserve℠.
If you have any of the above cards in addition to the Chase Freedom® Card, Chase Freedom Unlimited®, and/or Ink Business Cash℠ Credit Card, in addition to one of the cards earning Ultimate Rewards points, then those points can be converted into Ultimate Rewards points at a 1:1 ratio.
I value Ultimate Rewards points at 1.7 cents each, so to me that increases the value of the points earned on this card by 70%.
Getting approved for the card
The Ink Business Cash is subjected to Chase’s 5/24 rule, meaning that you won’t typically be approved for the card if you’ve opened more than five new card accounts in the past 24 months. This isn’t the easiest card to be approved for, and as a result I’d recommend getting this card sooner rather than later.
Do note that you can’t downgrade the Ink Business Preferred into the Ink Business Cash. Everyone has to decide for themselves which card they’d get more value out of. Many would even get value out of both cards, between the 5x points offered on the no annual fee Ink Cash, and the 3x points offered on the $95 annual fee Ink Preferred, in addition to the great cell phone coverage, etc.
I’m all for holding onto as many no annual fee cards for as long as possible, especially if they help you maximize your points. The Ink Cash earns valuable points that can be converted into Ultimate Rewards points in conjunction with other Chase cards. If you’re eligible for the card and don’t yet have it, I’d seriously consider applying. It’s a card I’ve had for years, and not one I see myself canceling anytime soon.