5 compelling reasons to apply for the Chase Ink Business Cash Card

Chase boasts an impressive selection of credit cards, encompassing personal, small-business, and cobranded options. There’s a Chase card suitable for nearly everyone, including no-annual-fee choices for everyday spending like the Chase Freedom Unlimited®, travel cards such as the Chase Sapphire Reserve®, and business cards like the Ink Business Preferred® Credit Card.

For small-business owners seeking a reliable no-annual-fee card within Chase's offerings, the Ink Business Cash® Credit Card is definitely worth considering.

Don’t confuse it with the premium Ink Business Preferred; the Ink Business Cash offers up to 5% cash back on select business purchases (for the first $25,000 spent in combined purchases). Plus, it currently has a welcome bonus of up to $750: earn $350 cash back after spending $3,000 in the first three months from account opening, and an additional $400 after spending $6,000 within the first six months.

There are numerous reasons why this often-overlooked business card should be next on your wallet's wish list. Here are our top five.

No annual fee

Finding high-value cards with no annual fees is becoming increasingly rare, as some of the leading travel cards for both business and personal use can have annual fees approaching $700. For those who hold a substantial number of cards, like Dinogo himself, these fees can quickly accumulate.

A key advantage of the Ink Business Cash card is that it offers cash back on business-related expenses, including purchases at gas stations and restaurants, along with travel and purchase protections, all while providing a generous welcome offer without any annual fee.

An impressive welcome offer

New cardholders can currently earn up to $750: receive $350 in bonus cash back after spending $3,000 within the first three months, plus an additional $400 after spending $6,000 in the first six months of account opening.

This bonus significantly increases if you also hold a Chase Ultimate Rewards card like the Chase Sapphire Reserve or Ink Business Preferred. Since you can combine your Chase Ultimate Rewards into one account, the rewards from your Ink Business Cash can be converted into Ultimate Rewards points. According to TPG's August 2024 valuations, these points are valued at 2.05 cents each, making your potential bonus worth an impressive $1,537.

Lucrative bonus categories

Another compelling reason to consider the Ink Business Cash Card is its ability to earn 5% cash back on the first $25,000 spent each account anniversary year at office supply stores and on cellphone, landline, internet, and cable TV services. You'll also earn 2% cash back on the first $25,000 spent at gas stations and restaurants each year, along with an unlimited 1% back on all other purchases. Additionally, through March 2025, you'll earn 5% cash back on Lyft rides.

By maximizing your bonus spending in both the 5% and 2% categories, you could earn up to $1,750 in cash-back rewards each year. For a no-annual-fee credit card, this represents an excellent earning potential. If you combine this card with a Chase Ultimate Rewards card, that $1,750 can increase to a remarkable $3,587 in rewards value.

Travel and purchase protections

The Ink Business Cash card offers impressive travel and shopping protections. It provides purchase protection for newly acquired items for 120 days against damage or theft (up to $10,000 per claim and a total of $50,000 per account). Cardholders also benefit from extended warranties on eligible purchases, adding an extra year to U.S. manufacturer's warranties of three years or less.

The Ink Business Cash Card includes an auto rental collision damage waiver. This means when you rent a car for business purposes and pay with this card, you can decline the rental agency's collision insurance, as the card provides coverage for theft or damage. This benefit is applicable for most rentals in the U.S. and internationally—just be sure to review the fine print for specifics.

Keep in mind that if you're renting a car for personal use, the Ink Business Cash won't be applicable. For personal rentals, the Chase Sapphire Reserve or Chase Sapphire Preferred® Card are better choices as they offer primary rental car insurance.

You can combine the Ink Business Cash with Chase Ultimate Rewards cards

A significant advantage of the Chase credit card lineup is the ability to merge rewards across cash-back and Ultimate Rewards cards (including all Chase Ink Business cards). As mentioned earlier, if you have the Chase Sapphire Reserve, Chase Sapphire Preferred Card, or Ink Business Preferred, you can convert your Ink Business Cash rewards into Chase Ultimate Rewards.

According to TPG's August 2024 valuations, Chase Ultimate Rewards points are valued at 2.05 cents each, making them one of the most valuable rewards currencies available.

While the Ink Business Cash isn't officially part of the Chase Trifecta, it remains a valuable asset to complement other Chase cards. You could earn an effective return of 10.25% (according to TPG's August 2024 valuations) on the first $25,000 spent at office supply stores and other eligible services, and 4.1% on the first $25,000 spent at gas stations and restaurants. For regular, non-bonus spending, this card provides a solid 2.05% return, which is impressive for a no-annual-fee card.

Keep in mind that your redemption possibilities expand significantly when you combine the Ink Business Cash with other Chase cards. For instance, if you use the Chase Sapphire Reserve for personal travel and dining while utilizing the Ink Business Cash for business expenses, the rewards earned can be redeemed at 1.5 cents each through the Chase travel portal or for travel partner redemptions when you transfer your points.

Final thoughts

When you encounter a product labeled as a business card, you might think you aren't eligible to apply — but you might be more qualified than you realize. You don't need to have a formal business to qualify. If you're a freelancer or involved in a side gig, it's worth considering an application (as long as you meet the other eligibility criteria). In fact, most issuers allow you to use your Social Security Number (SSN) instead of an Employer Identification Number (EIN) for most business products.

Regardless of your business type, the Ink Business Cash card offers numerous benefits. With its enhanced earning rates in specific categories and the option to convert cash back into valuable Ultimate Rewards points, this no-annual-fee card deserves your attention.