7 Reasons To Apply For The Ink Cash (Beyond The Best-Ever 50K Bonus)

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This spring, Chase launched a new welcome bonus on the Ink Business Cash℠ Credit Card, which is by far the biggest bonus that has ever been offered on the card. The Ink Business Cash has a bonus of $500 cash back (or 50,000 points — more on that later) after spending $3,000 within three months.

This is a massive welcome bonus for a no annual fee card. You can potentially convert these points into Ultimate Rewards points, which I value at 1.7 cents each, so to me that bonus is worth up to $850.

As a point of comparison, the card previously had a bonus of $300/30,000 points, so this bonus is about two thirds bigger than usual. The current bonus is roughly equivalent to those offered by the Chase Sapphire Reserve® Card and Chase Sapphire Preferred® Card.

If you’re eligible for the card I can’t recommend picking it up enough. It’s not just worth picking up the card because of the bonus, but also because of the long term perks it offers.

Why should you pick up the Ink Cash? Here are seven reasons:

No annual fee

The Ink Business Cash has no annual fee. Getting a no annual fee card that’s super rewarding is pretty rare, so the fact that this card has a 50K point bonus plus offers up to 5x points is noteworthy.

I’d argue that this is one of the two most compelling no annual fee business cards, along with The Blue Business℠ Plus Credit Card from American Express, which offers 2x Membership Rewards points on the first $50,000 spent each calendar year.

Big 5x points bonus categories

The card offers 5x points on the first $25,000 of combined purchases per account anniversary year at office supply stores, and on internet, cable, and phone services. If nothing else, earning 5x points on your cell phone and cable bill is huge, in my opinion.

2x points in two valuable categories

On top of the 5x points categories, the card offers 2x points on the first $25,000 of combined purchases per account anniversary year at restaurants and gas stations. While these are categories that other cards also offer bonuses on, that’s pretty generous for a no annual fee card.

Maximize the value of your card with Ultimate Rewards

On the surface the Ink Business Cash is a cash back card, as the name suggests. So when I talk about “points” above, each point gets you one cent cash back. That’s potentially valuable in the categories in which the card offers bonus points, since 2-5% cash back on a no annual fee card is solid. However, for base spend you’re only earning a return of 1%, which isn’t terribly competitive.

However, you can do much better than that if you have the Chase Sapphire PreferredChase Sapphire Reserve, and/or Ink Business Preferred.

If you have the Ink Business Cash in conjunction with any of the above three cards, then those points can be converted into Ultimate Rewards points at a 1:1 ratio.

I value Ultimate Rewards points at 1.7 cents each, so to me that increases the value of the points earned on this card by 70%.

For more on the Ultimate Rewards program, see this post.

Car rental coverage

The Ink Business Cash offers primary collision damage waiver coverage for rentals of most types of vehicles in most countries, except Ireland, Israel, and Jamaica. This is only valid when cardholders are renting for business purposes. That’s a valuable perk, in particular for a no annual fee card.

Other travel and purchase protection benefits

In addition to the car rental coverage, the Ink Business Cash offers other purchase and travel benefits, including (but not limited to) the following:

  • Trip cancelation and interruption coverage, of up to $5,000 per trip
  • Purchase protection for up to 120 days against damage or theft
  • Extended warranty protection, for up to a year on eligible purchases

You’ll want to read the cardmember agreement for exact terms, but this has the potential to be extremely valuable for purchases as well. Tiffany wrote about her experience with this benefit.

0% intro APR

While this isn’t personally something I’ve ever taken advantage of, I know this is a popular benefit for many, especially those who have growing businesses. The Ink Business Cash is offering 0% intro APR on purchases and balance transfers for the first 12 months.

You’ll want to try to pay that off within that time period, though, because after that the variable APR can be quite high.

Getting approved for the card

If you plan to apply for the Ink Business Cash there are a few things to be aware of:

  • The card is subjected to the 5/24 rule, meaning that you typically won’t be approved if you’ve opened five or more new card accounts in the past 24 months
  • The welcome bonus on the card is not available to those who currently have the card, or those who have received a new cardmember bonus on the card in the past 24 months
  • This card is considered to be a separate product from the Ink Business Preferred Card and Ink Business UnlimitedSM Credit Card, and so you can be approved even if you have any of those cards (and I’d argue the three cards make great complements)

Bottom line

The Ink Business Cash is a phenomenal no annual fee business credit card. Being able to earn 2-5x points on a card that complements other Ultimate Rewards cards is an excellent opportunity. Add in the fact that the card offers great benefits, and this is a no annual fee card you’ll want to keep long term.

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