Charles H. Miller
Chase has two distinctive cards for small businesses — Ink Cash® and Ink Plus®. The former offers cash back on common business purchases, while the latter rewards card usage with points. However, if used correctly, these points can be worth more than cash, and redeemed for travel awards, gift cards, purchases at Amazon.com, and more. Let’s look at the details to help you decide which of the two cards work better for your business… And whether you should go for cash or points…
Highlights
- $200 sign-up bonus with Ink Cash® / 60,000 points with Ink Plus®
- Up to 5% cash back or 5x points on office expenses
- Employee cards at no additional cost
- Travel and shopping benefits
- 12-month 0% intro APR with Ink Cash®, after which it’s 13.49% – 19.49% / 15.49% – 19.49% with Ink Plus®
- No annual fee / $95
How These Cards Work
Sign-up offer: With Ink Cash®, you get to earn $200 bonus cash back after spending $3,000 on purchases in the first three months after account opening. The Ink Plus® on its end offers 60,000 points after you make $5,000 in purchases, again in the first 3 months of account opening. These points can be worth as much as $750 in travel if they are redeemed through Chase Ultimate Rewards.
APR: Ink Cash® comes with a 0% intro APR on purchases and balance transfers for the first 12 billing cycles, after which APR goes to anywhere between 13.49% and 19.49% based on your creditworthiness. APR with the Ink Plus® is set in the 15.49% – 19.49% range; it does not provide any period of introductory APR.
Annual fee: Ink Cash® has no annual fee, while Ink Plus® costs $95 per year.
Common Ink card benefits:
- Free employee cards – so that your employees could earn cash back or points for you.
- Ink App – allows seamless tracking of all purchases. The app also provides access to reports, ability to snap photos of receipts to manage business expenses, and tag purchases.
- Purchase protection – covers new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Extended warranty – an additional year on eligible warranties of three years or less.
Chase Ink Cash®: Offers 5% cash back on purchases of office supplies; cellular phone, landline, internet, and cable TV services on up to $25,000 in combined purchases every year. Then, there’s 2% cash back at gas stations and restaurants on up $25,000 in combined purchases each year, and 1% cash back on all other purchases made with the card. You’ll also earn 1% cash back after you reach the $25,000 limit each year.
Chase Ink Plus®: Earn 5x points per dollar spent on office supplies, cellular phone, landline, internet, and cable TV services, up to the first $50,000 in combined purchases each anniversary year; 2x points for each dollar on gas and hotel accommodations when you purchase directly with the hotel (up to the first $50,000 in combined purchases per year); and 1x point for each dollar on all other purchases. After you reach the cap in the bonus categories, those purchases earn one point for each dollar you spend for the rest of the year. Points do not expire, and can be redeemed for cash (2,000 points for $20), travel or gift cards through Chase Ultimate Rewards (better option), or for Amazon.com purchases.
Costs
- 13.49%-19.49% variable APR (0% intro APR on purchases and balance transfers for the first 12 billing cycles) / 15.49%-19.49%
- 5% Balance Transfer Fee ($5 minimum)
- 3% / 0% Foreign Transaction Fee
- $0 / $95 Annual Fee
Head to Head Comparison
Pros
- Sign-up bonus which includes either cash or points (that can be turned into cash or other rewards).
- 0% introductory APR in the case of Chase Ink Cash®, making this card great to transfer balance from a different card.
- 5% cash back or 5x points on business purchases you would be making anyway. Get a portion of the money you would spend on your business — back. Either as cash or as points.
Cons
- Caps on both cards may not be reasonable for businesses that spend much more in the set categories. In most cases though, the cap is high enough to make these cards worth considering.
- No introductory APR period with the Chase Ink Plus®. That card also has a hard-to-love annual fee, though if you know/learn how to manage points, you’ll realize it’s better of the two cards.
Are Chase Ink Cards Right For Your Business?
Both the Chase Ink Cash® and Chase Ink Plus® are made for small businesses who spend up to $25,000 / $50,000 on their office supplies, internet and phone services. The two cards allow business owners to keep doing what they would be doing anyway, while getting something in return for their expenses. In the case of the Ink Plus® card, those would be points which, if used properly, could be worth more than cash. On the other hand, the situation is easier to grasp with the Ink Cash® — you’ll get some of the money you’ve spent (up to 5%) back. It’s that simple.
