Several banks have started an exclusive credit card service for small businesses to help them manage the monthly financial requirements. Chase has joined in with its Ink Business Cash credit card.
Apart from giving small businesses a way to manage their finances, the Ink Business Cash credit card also offers several rewards. Rewards like sign-up bonuses, cash back, and lower annual fees create a low-expenditure system for small businesses.
This article will share the features, pros, cons, fees, and the application process of the Ink Business Cash credit card.
Features of the Ink Business Cash Credit Card
The Ink Business Cash credit card offers a sign-up bonus of $900 in cash back rewards after spending $6,000 in purchases on the card in the first three months of account opening.
One of the major features of this credit card is the Chase Ultimate Rewards cashback program on purchases and billing. The users can get 5% cashback on the first $25,000 spent on purchases at office supply stores and on cable, internet, and phone services each year.
The card also offers 2% cashback on the first $25,0000 spent on purchases at gas stations and restaurants within the first year. Users can redeem their rewards for cash, gift cards, and travel benefits.
Pros and Cons of the Ink Business Cash Credit Card
There are rewards, bonuses, and other perks accompanying the Ink Business Cash credit card. Apart from this, the users can get extra employee credit cards as add-on cards at no additional cost. There is also no annual fee.
Other than this, the Ink Business Cash credit card offers purchase protection, fraud protection, and travel plus emergency assistance services.
Getting this credit card means that the users can protect their business and get access to funds when they need them along with personalized account alerts.
Some downsides of the card according to customers include the spending caps and lower rewards for purchases outside the bonus groups.
Ink Business Cash Credit Card Fees
- Annual Fee – $0
- APR – 0% for the first 12 months then 17.74% to 23.74%
- Balance Transfer APR – 17.74% to 23.74%
- Cash Advance Fee – 29.49%
- Cash Advance Fee – $15 or 5% of the transaction, whichever is greater
- Balance Transfer Fee – $5 or 5% of the transaction, whichever is greater
- Foreign Transaction Fee – 3% of the transaction in USD
- Late Payment Fee – $40
- Return Payment Fee – $40
Credit Card Eligibility
This credit card is only eligible for small businesses and should be used for commercial or business-related purchases. To qualify, the applicant must also be a resident of the USA and must be above 18 years of age.
It is also important to check the credit score before applying and for this card. This card requires a credit score that is good or excellent. People with low or no credit looking for a card to build their credit would not be suitable for this card.
Business owners interested in this card could also consider the Chase Ink Business Preferred credit card for their business needs.
How to Apply for the Ink Business Cash Credit Card
Small business owners can apply for the Ink Business Cash credit card by filling out the online application form or by visiting a branch.
When applying, you will be required to provide business and personal information including name, establishment size, number of employees, tax numbers, annual revenue, and industry, among further details.
After processing the application, the users will receive a reply from the bank confirming or rejecting their application.
Bank Address and Contact
Prospective applicants can obtain additional information about the Ink Business Cash credit card from Chase Bank, headquartered at 1121 Polaris Pkwy, Columbus, OH 43240. They can also be contacted by telephone at 1-614-217-6284.
Small businesses need capital to thrive and they also require access to this capital when needed. A Chase Ink Business Cash Credit Card can provide money for business needs and help them to save money on expenses with low interest rates and with several additional benefits.
Disclaimer: There are risks involved when using credit card products. Always be sure to read the bank’s terms and conditions for more information.