The no annual fee Ink Business Cash℠ Credit Card is one of the most compelling no annual fee business cards. The card offers 5% cash back on the first $25,000 spent in combined purchases at office supply stores, and on cellular phone, landline, internet, and cable TV services, for each account anniversary year.
While those bonus categories are generous, what makes this card especially compelling is that you can convert cash back into Ultimate Rewards points, at the rate of one cent per Ultimate Rewards point. This is only possible if you also have a card that earns Ultimate Rewards points, including the Chase Sapphire Preferred® Card, Chase Sapphire Reserve® Card, or Ink Business Preferred℠ Credit Card. Since I value Ultimate Rewards points at 1.7 cents each, that’s like getting 70% more value out of your points than you’d otherwise get. The way I view it, those 5% cash back categories really net you a return of ~8.5%.
Anyway, as noted by Doctor Of Credit, at the moment the Ink Business CashSM Credit Card is offering an increased welcome bonus of $500 cash back after spending $3,000 within three months. This is the biggest bonus I ever recall seeing on the card. You can convert that $500 into 50,000 Ultimate Rewards points to get even more value, assuming you have a card accruing Ultimate Rewards points.
This card is subjected to Chase’s 5/24 rule, meaning that you won’t generally be approved for the card if you’ve opened five or more new card accounts in the past 24 months. If you already have the Ink Business Preferred℠ Credit Card then you’re still eligible for the Ink Business Cash, and vice versa.
The $95 annual fee Ink Business Preferred℠ Credit Card still has a significantly more compelling welcome bonus, as the card offers 80,000 Ultimate Rewards points after spending $5,000 within three months. I consider that to be the all around best credit card welcome bonus out there. However, that bonus has been around for quite a long time, while presumably this welcome bonus is limited time (though I don’t know the end date).
- 3x points on shipping purchases, internet, cable, phone services, and advertising purchases made with social media sites and search engine (on the first $150,000 in combined purchases per cardmember year)
- An incredible cell phone protection plan of up to $600 per claim, against covered theft or damage for you and your employees listed on your monthly cell phone bill when you pay it with your Ink Business Preferred Card; you can have a maximum of three claims in a 12 month period, and there’s a $100 deductible per claim
- Auto rental collision damage waiver coverage when you decline the rental car company’s collision insurance and charge the entire rental cost to your card; coverage is primary when renting for business purposes and provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Trip cancellation and interruption insurance; if your trip is canceled or cut short by sickness, severe weather, and other covered situations, you can be reimbursed up to $5,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels
- Purchase protection, which covers your new purchases for up to 120 days against damage or theft up to $10,000 per claim and $50,000 per account, and extended warranty protection, which extends the time period of US manufacturer’s warranty by an additional year, on eligible warranties of three years or less
The new $500 welcome bonus on the Ink Business CashSM Credit Card is the biggest bonus I ever recall seeing on the card, so it’s a heck of a deal for anyone who is considering getting this great no annual fee business card. The key to maximizing value here is to also have a card earning Ultimate Rewards points, so you can get even more value out of the rewards.