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The Chase Ink Business Cash Credit Card offers an excellent signup bonus, solid ongoing rewards, and $0 annual fee. That still doesn’t mean its best for you and your company. In this review, we’ll examine what the Chase Ink Business Cash Credit Card has to offer and compare it to other small business credit cards.

I’m a stickler for bookkeeping with my business. We balance everything to the penny, every month. A small business credit card makes it easy to track business expenses. The good news is that many business credit cards offer excellent rewards. The Chase Ink Business Cash Credit Card is one such card.

Ink Cash Business Card Snapshot

Chase Ink Business Cash Credit Card

Click here to learn more about this and other business credit cards.

Cash Back Rewards Program

The Chase Ink Business Cash Credit Card offers several levels of rewards.

Signup Bonus: To start with, Chase offers a $750 bonus when new card members spend $7,500 in purchases within 3 months of opening an account. This is one of the richest cash signup bonuses available.

5% Cash Back: Earn 5% cash back on the first $25,000 you spend on combined purchases at office supply stores and on cellular phone, landline and cable TV services each account anniversary year. That’s a potential cash back of $1,250.

2% Cash Back: Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. That’s a potential cash back of $500.

1% Cash Back: Earn 1% cash back on every other purchase you make with your Ink Cash Business Credit Card with no limit to the amount you can earn.

Chase Ultimate Rewards

While the Chase Ink Business Cash Credit Card is a cash back card, you can convert the cash back into Chase Ultimate Rewards. This presents some unique opportunities. For example, you could convert to Chase Ultimate Reward points and then transfer them to any other Chase credit card that also earns CUR points. Why would we do this?

Because some cards pay a bonus when you use CUR points for travel booked through Chase. I carry the Chase Sapphire Reserve card, for example. It pays a 50% bonus when you use points for travel booked through Chase. Thus, the 5% you this card, once transferred to the Sapphire Reserve and used for travel through Chase, becomes a 7.5% reward rate.

If you carry the Chase Sapphire Preferred card or the Chase Ink Business Preferred card, they work the same way, but the bonus is 25%. You can also transfer the points to Chase airline and travel partners. In many cases, this results in the highest value.

0% Introductory APR

This card offers a 0% introductory APR for a period of 12 months on purchases. As a result, you can earn substantial cash back rewards while taking time to pay off the debt over 12 months with no interest.

Other Perks

The Chase Ink Business Cash Credit Card offers several additional benefits:

• Purchase Protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account
• Extended Warranty Protection: Extends the time period of the U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less
• Auto Rental Collision Damage Waiver: Decline the rental 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 U.S. and abroad
• Stay On Top of Your Spending: Set and change individual spending limits on employee cards,* and earn even more rewards from their purchases. Receive instant alerts for every purchase to help you control and track overall spending.
• Exclusive Mobile Experience: Snap, tag and file receipts instantly with our mobile app* designed exclusively for Ink customers.

Pros and Cons of the Chase Ink Business Cash Credit Card

What we like

What could be better

Small Business Features

The Chase Ink Business Cash Credit Card offers several perks aimed at small business owners:

Chase Ink Business Cash Credit Card Comparison

The first thing is to compare the Chase Ink Business Cash Credit Card to the other Chase Business Ink cards. The standout feature of the Ink Business Cash is its 5% reward rate on purchases at office supply stores and on internet, cable and phone services. This rate is capped at $25,000 each account anniversary year. If you have purchases in this category approaching $25k a year, this is the card for you.

It may make sense to have more than one Chase Ultimate Rewards credit card, however. As noted above, the best values come when using rewards for travel. If you plan to book travel through Chase using rewards, you’ll want to get a second Chase card that offers a bonus.

If you don’t plan to spend anywhere near $25k on the 5% categories, then either the Chase Ink Business Preferred or the Chase Ink Business Unlimited will be a better option. The Unlimited is best if you spend a lot in these categories:

• Travel
• Shipping purchases
• Internet, cable and phone services
• Advertising purchases with social media sites and search engines

Otherwise, the Ink Business Preferred is ideal, as it pays a flat 1.5% on all purchases.

There are of course other options. One that I’ve carried for a long time is the Capital One Spark Cash card. It pays 2% cash back on all purchases. This option is ideal if you just want the cash. If you will use the rewards for travel, Chase is by far the best option.

FAQs

Rating

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The Platinum Card® from American Express boasts a unique experience with exceptional services and rewards. It offers 75,000 Membership Rewards points after spending $5,000 on purchases in the first 6 months. It also pays up to 5x points per dollar spent on select travel purchases. And it comes with a wide range of travel and other benefits. We’ll break it down and to help determine if these benefits are worth the hefty $550 annual fee in this detailed review of the card.

Introduction

The The Platinum Card® from American Express is among a select few elite credit cards. It offers exceptional member service which is available 24/7. The card also offers 5x points on flights booked directly with airlines, as well as prepaid hotels booked on amextravel.com. Add to that no foreign transaction fees and a slew of credits, and this card is ideal for those who love to travel.

At a Glance

The Platinum Card® from American Express

Pros

• 5x membership rewards points
  • For flights booked directly with airlines or with American Express Travel
  • For prepaid hotels booked on amextravel.com
• Welcome bonus of 75,000 Membership Rewards points when you spend $5,000 on the card in the first 6 months
• Up to $200 in Uber credits each year
• $200 airline fee credit each year
• Fee credit for Global Entry or TSA Precheck
• Add an additional card which earns you points for their purchases

Cons

• High Annual Membership of $550
• High APR on cash advances and Pay Over Time balance
• Limits on where you must book flights and hotels to earn 5x points

American Express Platinum Rewards Review

Earning Rewards

The Platinum Card® from American Express offers several ways to earn rewards:

Welcome Bonus: The Platinum Card gives 75,000 Membership Rewards points as a welcome bonus when you spend $5,000 within the first 6 months. The value of these Membership Rewards points depends on how you choose to redeem them.

For example, 60,000 Membership Rewards points would worth the following:-

• $600 gift card from Bed Bath & Beyond
• $420 gift card to Starbucks
• $360 statement credit
• $600 flight through American Express Travel
• $420 hotel through American Express Travel
• 60,000 Delta Skymiles

Note that these values can and do change over time.

Everyday Spending: With the Platinum Card you earn Membership Rewards points with every purchase:

• Earn 5x points on flights booked directly with airlines or American Express Travel
• Earn 5x points on prepaid hotels booked on amextravel.com
• Earn 2x points using amextravel.com
• Earn 1x for every dollar you spend on eligible purchases

Redeeming Rewards

There are many ways you can redeem your points for rewards. Keep in mind that the value of the points varies based on how they are redeemed.

Transferring Points

Transfer points to eligible airline and hotel loyalty programs. Here is a list of some of the different loyalty programs and point conversion rates:

Air & Lodging

• Air France KLM: 1,000 points = 1,000 Flying Blue Award Miles
• British Airways: 1,000 = 1,000 Avios
• Delta Air Lines: 1,000 = 1,000 miles
• El Al Israel Airlines: 1,000 = 20 Matmid points
• Emirates: 1,000 = 1,000 Skywards Miles
• Jetblue Airways: 250 = 200 TrueBlue points
• Virgin Atlantic Airways: 1,000 = 1,000 Flying Club miles

Hotels

• Choice Privileges: 1,000 = 1,000 Choice Privileges
• Hilton Honors: 1,000 = 2,000 Hilton Honors Points
• Marriott Bonvoy: 1,000 = 1,000 Marriott Bonvoy Points

Each loyalty program is subject to change without notice.

There are three steps to transfer the points. First, link your loyalty account to your Membership Rewards, which you can do through the Amex website. This gives access to your points.

Second, choose the amount of points to transfer. Here you will want to make sure you check availability and points needed for your planned travel before completing a transfer, especially for booking a flight or hotel room. All transfers are final so researching beforehand can be very helpful and save you frustration in the end.

Third, redeem the points or miles with the provider. You will need to check your loyalty program account to confirm the points have been successfully transferred, then redeem directly with the loyalty program. 

Certificates and gift cards

Redeem gift cards from choices such as air and lodging, car service, retail, and American Express gift cards. For 10,000 membership rewards points you could get up to $100 from several choice retailers. Here are several examples of what 10,000 points could get you from the mentioned categories.

Air and Lodging

• Best Western Hotels & Resorts $85
• Carnival Corporation $100
• Delta $70
• Fairmont Hotels & Resorts $100
• Four Seasons Hotels and Resorts $70
• Hilton $85
• Hotels.com $70
• Marriott $70
• The Ritz-Carlton $70

American Express Gift Cards

• Any Design $50

Car Service

• Uber $70

Dining

• Bahama Breeze $100
• Bonefish Grill $85
• Carabba’s Italian Grill $85
• California Pizza Kitchen $100
• Cheddar’s Scratch Kitchen $100
• Chili’s Grill & Bar $100
• Fleming’s Prime Steakhouse & Wine Bar $85
• Longhorn Steakhouse $100
• Maggiano’s Little Italy $100
• Morton’s The Steakhouse $100
• Olive Garden $100
• Outback Steakhouse $85
• Panera Bread $85
• Starbucks Card $70
• The Cheesecake Factory $85
• Yard House $100

Retail

• App Store & iTunes $85
• Banana Republic $100
• Barnes & Noble $100
• Bath & Body Works $100
• Bed Bath & Beyond $100
• Best Buy $70
• Buybuy Baby $100
• Coach $100
• Crate and Barrel $100
• Gap $100
• Macy’s $85
• Neiman Marcus $100
• Nike $100
• Nordstrom $85
• Old Navy $100 
• REI $100
• Saks Fifth Avenue $100
• Sam’s Club $70
• Sephora $85
• Staples $100
• Target GiftCard $70
• The Home Depot $100
• Tiffany & Co. $100
• TJX Multi-Brand $85
• Victoria’s Secret $100
• Walmart $70
• Zappos.com $100

Other

• Aspen Snowmass $70
• Jackson Hole Mountain Resort $100
• Regal Cinemas Gift Card $85 

Vouchers are also available for redemption, however, they are partner dependent. This means that the voucher reward partners determine the value their vouchers provide. You will need to check with the voucher partner to find out specific details and exemptions. For AMC Theaters, for example, 9,188 points could get you 4 AMC tickets and a $25 gift card. It comes as a certificate and the point value given could change at any time based on the partner. 

Pay With Points

You can use points to shop at various retailers including Best Buy, Boxed, Expedia, Grubhub, NYC Taxi, PayPal, Ticketmaster and Walmart. To use Pay With Points at Best Buy, for example, enter your eligible American Express Platinum card when checking out on BestBuy.com. You will need to click on “See Points Balance” to see your available points and the dollar value equivalency. Enter the dollar amount of points you want to use and place your order.

Expedia lets you use points to offset all or a portion of your booking total on flights, car rentals, activities, packages or pre-paid hotels on expedia.com when you select the option to pay online. Cruises and the pay later payment option are exclusions. While it is still advertised, pay with points is currently unavailable for Ticketmaster.com.

To cover a Ticketmaster charge with Pay with Points you will need to call 1-800-AXP-EARN. For all retailers, redemption options and point values are subject to change at any time. If you have more than one eligible card account linked to your membership rewards account, the value of points you receive will be the card that provides the highest point value. The minimum redemption is 5,000 points. 

Shop Amazon.com

Use your membership rewards points to shop at Amazon.com and have everything shipped to your door. First, you’ll need to create or sign into your Amazon.com account. Go to www.amazon.com/membershiprewards to complete registration.

Second, link your Membership rewards account to your Amazon.com account. There are instructions to guide you through how to link your account. Lastly, use your points to shop. Using your points can cover all or part of your purchases.

You have total control over how many rewards points you use. The points that are applied to your order will be deducted from your order total and displayed as Rewards Points in the Order Summer according to Amazon.com. 

Taxi fares

NYC Taxi lets you use pay with points so you can get around the city faster. You must have enough membership rewards points in your account to cover both total fare and tip. The payment option “Use Points” will not appear unless you have enough points. All you do is swipe your eligible Platinum card and you will see the point balance and what is needed for the ride. If you have enough you will select the option “Use Points”. NYC Taxi pay with points is only available in New York City. 

Cover Your Card Charges

If you have a Corporate Card account or additional card members, this option is not available. “You must have at least 1,000 available points in your account and points will only go towards the entire amount of an eligible charge,” according to American Express. You will need to look over your current online statement to view your eligible charges. When you select an eligible charge a checkmark will appear. By clicking on “Redeem Now” you will see a credit appear on your statement within 48 hours. You cannot use your points to cover a past due charge, or have a returned payment outstanding. According to Amex, “[t]he charge must have occurred in the U.S or in a U.S. territory. You cannot use a disputed charge with your points. All charges must be at least $1 to cover your charges.” 

While paying your card charges with points is convenient, it doesn’t offer the best value. A statement credit is worth just 0.6 cents per point. Redeeming points for travel or transferring points to an airline offer much higher values.

American Express Benefits

The Platinum Card® from American Express offers an abundance of benefits. These benefits include, but are not limited to, the following:

$200 Airline Fee Credit: Select one qualifying airline at www.americanexpress.com/airlinechoice and you can receive up to $200 in statement credits per calendar year for incidental charges. Qualifying airlines include American Airlines, Delta Airlines, JetBlue Airways, Southwest Airlines, and United Airlines. You can change your airline one time each year in January, otherwise you will remain with the current airline of your choice.

The credit is available when incidental fees like checked bags and in-flight refreshments are charged by the airline to your Platinum Card. Incidental air travel fees must be separate charges from purchased airline ticket charges.

Purchase Protection: This protection covers you if a product you purchased using The Platinum Card® from American Express is damaged. The coverage is up to $10,000 for any one covered incident and up to $50,000 for all covered incidents per card member during a calendar year for the lesser of the cost to repair, replace or reimburse the item. Yes, that’s a lot of lawyer-speak, which means it’s important to read the coverage terms and conditions carefully.

For example, a covered incident because of a natural disaster will have a maximum per occurrence limit of $500 for any one covered incident. The purchase will be covered for 120 days from the date of purchase. For more information you can go here to see the list of states where the terms and conditions are different. 

Uber VIP Status: Receive VIP status and $15 each month in Uber Cash for U.S rides on your Uber account when you use your Uber Rides with Platinum. You even get a $20 bonus in December. To receive this benefit you must have downloaded the Uber App version 3.363.10000 or later for iOS or version 4.274.10000 or later for Android.

Your eligible Platinum card must be the method of payment in your Uber account. It takes up to 24 hours for the American Express benefit to become available in Uber Cash once your card has been added. The benefit will not apply to previous Uber transactions and cannot be used when paying with an UberFAMILY profile.

Your benefit can be applied to all Uber car types and UberEATS orders. There is no limit of how many transactions you apply your American Express benefit, but it will only cover up to $15 per month. In December, the total goes up to $35. 

The Global Lounge Collection: Traveling becomes luxurious with The Platinum Card® from American Express as it features access to more than 1,200 airport lounges across 130 countries. Featuring worldwide coverage due to American Express’ own networks such as, The Centurion Lounge and The International American Express lounges. The Centurion Lounge has unlimited complimentary to all locations. Card members are allowed to bring up to two people with them. 

You must present your valid card, a boarding pass showing a confirmed reservation for same day travel, and a government issued ID. Without these three items you could be denied access to the luxurious experience. One must be 18 years old to enter without a parent or legal guardian. Those locations with a self service bar, the card member must be of legal drinking age to consume alcoholic beverages. 

Fine Hotels & Resorts: Receive complimentary benefits with an average total value of $550 with fine hotels and resorts. There is a three room limit per card member per stay; back to back stays within 24 hours at the same property would be considered one stay. The amount is averaged for 2018 bookings for stays of two nights. Benefits would include daily breakfast for two, room upgrade when available, property amenities valued at $100, guaranteed 4PM late checkout, noon check-in when available, and complimentary Wi-Fi.   

Hotel Collection: Receive a $100 hotel credit to spend on qualifying dining, spa and other resort activities when staying for at least two consecutive nights. A room upgrade will be given upon arrival if available. Payment must be made in full to be eligible. The eligible card member will receive hotel credit upon checkout equal to $1 for each eligible dollar spent, up to $100. It does not include taxes, gratuities, fees and cost of the room. The credit expires at check out.

Platinum Travel Service: Travel counselors specialize in providing “custom itineraries and tailored recommendations” to help make the most of traveling for wherever you may go. Personalized Travel Service is provided by third party franchises so fees may apply. 

Marriott Bonvoy Gold Elite Status: Enroll in the complimentary Marriott Bonvoy Gold Elite Status. With this elite status, you will receive upgrades to enhanced rooms upon check-in when available. Marriott Bonvoy amenities may not be combined with the Fine Hotels & Resorts program. Any reservations made through third parties and online booking sources are not eligible. 

Hilton Honors Gold Status: Enroll to receive complimentary Hilton Honors Gold Status.

No Forgein Transaction Fees: While American Express will not charge any foreign transaction fees, ATMs or merchants could charge a fee on foreign transactions.

Premium Access: Receive complimentary membership in premium car rental programs which include special upgrades and discounts. Benefits are subject to each car companies terms and conditions including age restriction and requires enrollment to receive benefits.  When using an eligible card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver at the car rental counter, you can still be covered if the car is damaged or stolen. 

Premium Global Assist Hotline: If you are traveling more than 100 miles from home, Premium Global Assist Hotline gives you access to 24/7 medical, legal, financial or other select emergency coordination and assistance services. Emergency medical transportation assistance may be provided at no cost with authorization and arrangements by Premium global assist hotline.

Shop Saks with Platinum: You could get up to $100 in statement credits annually for purchases at Saks Fifth Avenue when you use your Platinum card. According to Amex, “each card account is only eligible for up to $50 statement credit from January to June and up to a $50 statement credit from July to December”. It is not valid on Saks Fifth Avenue Gift cards or purchases at outlet locations, including online.

Platinum Concierge: Receive complementary assistance 24/7 making arrangements such as for dinner, tickets to events or finding a gift for friends or family. There is no cost for services performed on your behalf. You are responsible for any purchases, fees or shipping charges you authorize to be charged to your account. The service is not responsible for notifying a restaurant of food allergies when suggesting or making reservations at restaurants. 

By Invitation Only: Get RSVP events tailored for you, such as sporting events, fashion forward runways, and fine dining experiences.

Preferred seating: Gain access to premium seats for “select cultural and sporting events.” Tickets are available through American Express Preferred Seating Program.

How Much Are American Express Membership Rewards Points Worth?

The value of Membership Rewards points varies based on how you spend them. For some retailers they offer more dollar value for the same amount of points than another retailer. For some retailers 20,000 points will get you $140 in a gift card, but for cover your charge it could only be up to $120. Generally, points are most valuable when used to book travel through American Express or transferred to one of Amex’s travel partners.

Will American Express Platinum waive the annual fee?

Yes, but only for members of the Armed Forces. The Military Lending Act provides these protections. Otherwise, Amex will not waive the fee.

Is Amex Platinum or Gold better?

It depends on if you’d like more benefits for dining or travel. The platinum is beneficial to those who are on the go and travel a lot. The gold card is more in sync with those who prefer fine arts and dining experiences.

A noticeable difference is cost. The Gold Card has an annual membership fee of $250, while the Platinum card’s annual fee is $550.

Final Thoughts

The Platinum Card® from American Express is ideal for those who travel, whether for leisure or business. Based on the benefits and rewards for travel, you could travel in style with utilizing the Global Lounge Collection and earn points booking with amextravel.com. The card provides a unique experience with exceptional service and rewards.