Empower Your Small Business with Smart Financial Tools
For any business owner, managing finances efficiently is a cornerstone of success. Selecting the right business credit card is a decision that demands careful consideration. For small businesses looking to expand and optimize their financial processes, Chase’s Ink Business Cash credit card emerges as a strong contender.
If you’re already using a cashback credit card for personal expenses, the Ink Business Cash card could be a logical extension for your office expenditures. This card not only benefits the business but also offers advantages to your employees without extra costs. With individual spending limits for employee cards, you can accelerate the earning of rewards while maintaining control over expenses.
Dive into the details of this credit card to discover how it can contribute to your company’s financial health.
Anúncios
Features of the Ink Business Cash Credit Card
- Welcome Bonus: A $750 cashback bonus on purchases over $7,500 in the first three months.
- Introductory APR: Enjoy 0% APR for the first twelve months (terms apply).
- Ongoing APR: Ranges from 13.24% to 19.24%, based on creditworthiness and the Prime Rate.
- Balance Transfer APR: Also based on creditworthiness, ranging from 13.24% to 19.24%.
- Cash Advance APR: Set at 24.99%, in line with the Prime Rate.
Fees and Rewards
- No Annual Membership Fee: The card has no yearly fee.
- Diverse Cashback Opportunities:
- 5% cashback on combined purchases at office supply stores and on internet, cable, and phone services (up to $25,000 annually).
- 2% cashback on combined purchases at gas stations and restaurants (up to $25,000 annually).
- 1% cashback on all other purchases, with no earning cap.
- Foreign Transaction Fee: 3% of each transaction in U.S. dollars.
Additional Costs
- Cash Advance Fee: The greater of $15 or 5% of the transaction amount.
- Balance Transfer Fee: Either $5 or 5% of the transfer amount, whichever is greater.
- Penalty Fees for Late and Returned Payments: Up to $40.
Credit Score Requirement
- Good to excellent credit score (690 to 850) is required for approval.
Benefits and Limitations
- Pros:
- Employee cards at no additional cost.
- Access to Chase Ultimate Rewards for diverse redemption options.
- Comprehensive security features including fraud protection.
- Cons:
- Requires a good to excellent credit score.
- Lower reward rates outside of bonus categories.
- Spending caps on bonus rewards.
Application Process
Applying is straightforward: either sign in for a faster process or apply as a guest. Remember, as a corporate product, the application requires detailed personal and business information. Ensure all documents are ready to provide accurate data.
Recommended for you:
- Citi Premier Card: A Credit Card Tailored for Frequent Travelers
- First-Time Home Buying: Simplifying Your Journey to Ownership
FAQ: Understanding the Ink Business Cash Credit Card
- What is the Ink Business Cash Credit Card? The Ink Business Cash Credit Card is a business credit card offered by Chase, designed to cater to the financial needs of small businesses. It provides cashback rewards on various business-related expenses.
- What kind of welcome bonus does the card offer? The card offers a welcome bonus of $750 cashback when you spend $7,500 or more in the first three months after opening the account.
- Is there an annual fee for the Ink Business Cash Credit Card? No, there is no annual fee for this credit card, making it a cost-effective option for small businesses.
- What are the cashback rewards offered by the card? The card offers 5% cashback on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each year, 2% cashback on the first $25,000 spent in combined purchases at gas stations and restaurants each year, and 1% cashback on all other purchases.
- Can I get additional cards for my employees, and is there a cost? Yes, you can request additional cards for your employees at no extra cost. You can also set individual spending limits on these cards.
- What are the APR and interest rates for this card? The card offers an introductory APR of 0% for the first twelve months. After that, the ongoing APR ranges from 13.24% to 19.24%, based on your creditworthiness and the Prime Rate.
- Are there any foreign transaction fees? Yes, there is a foreign transaction fee of 3% on each transaction in U.S. dollars.
- What should I consider before applying for this card? Consider your business’s spending habits and cash flow to maximize the rewards. Also, assess your ability to meet the credit requirements and manage the card responsibly.
- How can I apply for the Ink Business Cash Credit Card? You can apply online through Chase’s website. The application process may require detailed personal and business information, so have all necessary documents ready.
Understanding the features and benefits of the Ink Business Cash Credit Card can help you decide if it’s the right financial tool for your business. For more specific queries or personalized advice, it’s advisable to contact Chase directly.
Anúncios
We value your feedback on our content. If you find our insights useful, help us spread the word about financial education and empower more businesses to thrive.
