7 Reasons To Apply For The Ink Cash (Beyond The Best-Ever 50K Welcome Bonus)

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Late last week Chase launched a new sign-up bonus on the Ink Business Cash℠ Credit Card, which is by far the biggest sign-up bonus that has ever been offered on the card. The Ink Business Cash has a sign-up bonus of $500 cash back (or 50,000 points — more on that later) after spending $3,000 within three months. This is a massive sign-up bonus for a no annual fee card. You can potentially convert these points into Ultimate Rewards points, which I value at 1.7 cents each, so to me that sign-up bonus is worth up to $850.

As a point of comparison, the card previously had a sign-up bonus of $300/30,000 points, so this bonus is about two thirds bigger than usual. The current sign-up bonus is roughly equivalent to those offered by the  Chase Sapphire Reserve® Card and Chase Sapphire Preferred® Card.

If you’re eligible for the card I can’t recommend picking it up enough. It’s not just worth picking up the card because of the sign-up bonus, but also because of the long term perks it offers.

Why should you pick up the Ink Cash? Here are seven reasons:

No annual fee

The Ink Business Cash has no annual fee. Getting a no annual fee card that’s super rewarding is pretty rare, so the fact that this card has a 50K point sign-up bonus plus offers up to 5x points is noteworthy.

I’d argue that this is one 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.

Big 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 the 5x points categories, 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 card.

Maximize the value of your card with Ultimate Rewards

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. That’s potentially valuable in the categories in which the card offers bonus points, since 2-5% cash back on a no annual fee card is solid. However, for base spend you’re only earning a return of 1%, which isn’t terribly competitive.

However, you can do much better than that if you have the Chase Sapphire Preferred® Card Chase Sapphire Reserve® Card, and/or Ink Business Preferred℠ Credit Card.

If you have the Ink Business Cash in conjunction with any of the above three cards, 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%.

Car rental coverage

The Ink Business Cash offers primary collision damage waiver coverage for rentals of most types of vehicles in most countries, except Ireland, Israel, and Jamaica. This is only valid when cardholders are renting for business purposes.

Other travel and purchase protection benefits

In addition to the car rental coverage, the Ink Business Cash offers other purchase and travel benefits, including (but not limited to) the following:

  • Trip cancelation and interruption coverage, of up to $5,000 per trip
  • Purchase protection for up to 120 days against damage or theft
  • Extended warranty protection, for up to a year on eligible purchases
  • Price protection if the price of a purchase drops within 90 days

You’ll want to read the cardmember agreement for exact terms, but this has the potential to be extremely valuable for purchases as well. Tiffany recently wrote about her experience with this benefit.

0% intro APR

While this isn’t personally something I’ve ever taken advantage of, I know this is a popular benefit for many, especially those who have growing businesses. The Ink Business Cash is offering 0% intro APR on purchases and balance transfers for the first 12 months. You’ll want to try to pay that off within that time period, though, because after that variable APR is 14.49%-20.49%.

Getting approved for the card

If you plan to apply for the Ink Business Cash there are a few things to be aware of:

  • The card is subjected to the 5/24 rule, meaning that you typically won’t be approved if you’ve opened five or more new card accounts in the past 24 months
  • The welcome bonus on the card is not available to those who currently have the card, or those who have received a new cardmember bonus on the card in the past 24 months
  • This card is considered to be a separate product from the Ink Business Preferred Card, so you can be approved even if you currently have that card (I think the two cards complement one another nicely)

Bottom line

The Ink Business Cash is a phenomenal no annual fee business credit card. If you’re eligible for the card then I’d absolutely recommend applying, and I’d even apply for this ahead of the Ink Business Preferred Card, since presumably this sign-up bonus is limited time. The card has no annual fee, offers the biggest sign-up bonus it ever has, and has bonus categories offering 2-5x points.

When you factor in that you can get even more value if you have a card earning Chase Ultimate Rewards points, this has the potential to be really valuable.

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  1. Obviously a great card to have, but I can think of at least 5 reasons NOT to get it: Chase Sapphire Reserve, Chase Sapphire Preferred, Ink Business Preferred and 2 Southwest cards. All cards I’d get before this Ink Cash card thanks to Chase’s 5/24 Rule. And I would never suggest getting this card ahead of the Business Ink if you don’t have that or at least one of those premium Ultimate Reward cards or the ability to get one soon because otherwise those UR points you earn with your new Ink Cash won’t be nearly as valuable without the transfer option. So maybe if you’ve already got at least a couple of the aforementioned cards and at least one is a premium UR and are somehow still under 5/24, or maybe aren’t interested in getting the SW Companion Pass, only then would I suggest the Ink Cash. Hard to imagine many people, especially readers of this blog, would be in that situation card-wise. But each to their own.

  2. Hello Lucky – Thanks for the info. I already have the Chase Sapphire Preferred and was wondering if I should get the Ink Cash before the Ink Business Preferred. Sounds like maybe the Ink Cash? Also, you mentioned the Blue Business Plus Credit Card from American Express. If I get that card, I’m assuming it would extend the expiration date of my MR points? I have the AMEX Plat, but will most likely cancel that next month. Thanks.

  3. @ gymrat — Yep, getting the Blue Business Plus would extend your Membership Rewards points, so that’s a great card for maintaining those points. Both the Ink Preferred and Ink Cash are great cards, though personally right now if I could only get one I’d choose the Ink Cash, since the sign-up bonus is limited time, and we’ve never seen a bonus like that before. The Ink Preferred bonus, meanwhile, has been around for a long time.

  4. @chris baxter it doesn’t count towards 5/24 so you can get it and it won’t hit you. Same as the CIP / SW biz

  5. So if you applied and got the “30 day” notice what could that mean? I mean does everyone who’s 4/24 with a good credit score go through this?

  6. @ Kevin — There are plenty of instances where you get the “30 day” message and still get approved.

  7. Lucky, if I get this card, can I use it like I’m currently using the Freedom now? I max out the quarterly 5x categories and then move the points to my wife’s CSR account.

    Can I do this with Ink Cash?

  8. @ Grant — You can transfer your Ink Cash points to your Freedom, and then to your wife’s CSR, yep.

  9. @Chris Baxter, why not sign up for this first and get one of the mentioned cards you suggested “soon” or at least before redeeming any points especially since this offer is supposedly limited while the others have been at their sign up bonuses for a while?

  10. Thanks Lucky. I just applied for the Ink Cash and will get the Ink Preferred later. Appreciate the advice.

  11. Hi,
    I think I missed something. I see the $500 bonus but I don’t see the option of 50000 miles instead. Am I missing something obvious? Sorry if I missing something obvious. Thank you.


  12. @ Smith — If you have the card in conjunction with a card that earns Ultimate Rewards points (like the Chase Sapphire Preferred, Chase Sapphire Reserve, or Ink Business Preferred), you can transfer the Ink Cash points to Ultimate Rewards at a ratio of one Ultimate Rewards point per cent. This can be done directly through Chase’s website. If you don’t have one of those three cards, then you can only redeem the points as cash back. Here’s a more detailed explanation of the process:

    Let me know if you have any other questions!

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