I’ll outline the best points of the Chase Ink Business Cash credit card, then compare it to the $1000 cash back offer with the Ink Business Preferred credit card. Both are great cards for your small business.
Chase Ink Business Cash Credit Card with $750 Cash Back
- Apply here with my link to get the $750 Cash Back bonus when you spend $6000 within 6 months.
- No annual fee. That’s great if your small business is just getting off the ground.
- 5% cash back on cable
- 5% cash back on internet
- 5% cash back on phone services
- 2% cash back on gas
- 2% cash back on restaurants
- 1% cash back on everything else.
- Additional 10% bonus cash back (10% of your total cash back) for your first year if you also have a Chase Business checking account.
- If you’re not sure you can hit the $6000 minimum spend within 6 months, you’ll still earn $350 cash back when you spend $3000 within 3 months.
Total minimum cash back on the Chase Ink Business Cash credit card when you spend $6000: $810:
- $750 cash back bonus for spending $6000.
- $60 cash back if you only used the card for 1% cash back purchases.
A more reasonable total cash back, because you’ll definitely want to use this card for your cable, internet, and phone services for your business, as well as restaurant purchases and gas (no, 2% cash back is not the best in these categories, but it does let you keep all of your employees using one card): $924.
- $750 cash back bonus for spending $6000
- $90 cash back if you spend $1800 (that’s just $300 a month) on combined cable, internet, and phone services.
- $60 cash back if you spend $3000 (that’s $500 a month) on restaurants.
- $24 cash back if you spend $1200 ($200 a month; if you work mostly from home that’s reasonable) on gas.
- That adds up to $6000 in spending, for a total cash back of $924 in just six months of using this card for your business purchases. That’s an effective cash back of 15.4%.
Chase Ink Business Cash vs. Chase Ink Business Preferred:
- You earn $1000 cash back when you spend $8000 within 3 months on the Ink Business Preferred card. That’s a huge minimum spend in a small amount of time, but if you’re buying office equipment, a company car, or hosting a conference or other trip for your small business, even a very small business might be able to hit the $8000 within 3 months.
- The Ink business preferred card doesn’t have any 5% cash back categories, but it does offer 3% cash back on travel, so if your business spending includes travel expenses, this might be the better card for you. Plus, the $1000 bonus is worth $1250 when you redeem the points with the Chase Travel portal.
- The Ink Business Preferred card does have a $95 annual fee, so make sure to subtract that from your cash back calculations.
Overall, the Ink Business Cash card is probably the best bet for a small business owner. In fact, I have two Chase Ink Business Preferred cards, and I’m going to convert them into the Ink Business cash cards now that I’ve outlined the benefits of each card. For my small businesses and my spending patterns for my businesses, the Ink Business Cash card will net me a lot more cash back each year, and I don’t have to pay an annual fee. That means I am free to utilize my other small business credit cards for spending in categories that offer a higher cash back than the Ink Business Cash card.
