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Chase's Ink line of business credit cards is designed to compete with other high end business credit cards, including the renowned American Express line.
Before comparing Ink Bold with Ink Cash to determine which is the better value for business owners, let's look at some of the key benefits and features of each card.
Ink Bold from Chase
Ink Bold is a business charge card, not a credit card.
This means you have 30 days to pay your balance in full, no pre-set spending limit, and you will never pay interest with this card. If you are a business owner with pretty consistent month to month expenses and want an easy way to pay, Ink Bold may be your best decision.
Ink Bold boasts that points are 25% more valuable than its biggest competitor's (American Express) when you book travel through Chase Ultimate Rewards. You can have the opportunity to earn up to 47,500 bonus points per year, with the potential for 50,000 bonus point the first year.
Business owners also earn $100 cash back after their first purchase using the card (upon acceptance, of course).
Normally, you get 1 point for every dollar spent with the card and double points for travel, with no minimum on the amount of points you can earn.
The card has a $95 annual fee that is waived the first year.
This card is comparable in many ways to the Chase Freedom line of credit cards for personal use. It offers 3% cash back on eligible fuel, home improvement, dining and office supply purchases (up to a monthly maximum) and 1 % cash back on all other purchases.
Ink Cash also provides cardholders with the Chase Blueprint program, which can help you save significantly on interest fees with several different programs that help you pay off your balance and minimize interest charges. If you have specific categories of purchases you pay off every month, you can have these listed as a separate amount due on your bill, pay the amount in full, and forego interest charges on those purchases, even if you carry a balance.
I've been using Blueprint for all my gas, grocery and department store purchases with my Chase Freedom card for the past few months, and it's saved me quite a bit in interest already.
Ink Cash has a 0% fixed APR for the first six months, and after that an APR between 13.24 and 19.24%, depending on your credit score and credit history. There is no annual fee.
Both Ink Cash and Ink Bold offer free cards for employees, and a number of travel benefits associated with many rewards cards, including trip delay coverage, lost luggage coverage, and car rental insurance.
Which Card Is Better?
If a majority of your business spending comes from travel, then the Ink Bold card is well worth the annual fee after the first year. In our review of Ink Bold here at CreditShout, the card came out favorably against it's main competition, American Express Gold. The review noted that the annual fee will pay for itself quickly if you travel a lot.
Having no pre-set spending limit and no interest gives business owners a lot more flexibility to invest in their business when times are good and earn rewards while they spend.
But for most business owners, the rewards and benefits of Ink Cash make the card the better choice.
It's hard to beat 3% rewards on office supplies and other categories (well, okay, Discover More offers 5%) and the Blueprint plan helps business owners manage their credit better. The Blueprint plan makes it easy to treat Ink Cash as if it's a charge card (like Ink Bold) with no penalties if you can't make the Blueprint payment in time, as long as you make your regular minimum payment.
Good business credit cards are hard to find. Chase seems to be changing that with the introduction of the Ink line of cards.