The business card you need to have in case you dislike paying annual fees.
The card will fit for those CEOs who want to get rewards for the office purchases and hate the very idea of paying a certain fee for using the card. The popularity that the card gained almost immediately after it was introduced to the market is easy to explain – the card is designed to be as simple as possible and offers potential cardholders the effective rate of 5%. Today, we’ll tell you about this card in details.
General information on the card
- There is a sign-up bonus waiting for all new cardholders.
- Once you get the card, you can enjoy the high rewards rate that applies for the purchases made in certain categories.
- With this card you can forget about the need to pay a certain fee each year.
- There is an interest free period during which you can pay off your purchases without wasting extra money.
- There are preset limits that apply for your purchases made in bonus categories.
- The card can be hard for you to get if your credit score is neither good nor excellent.
- The standard rate that applies for all the rest purchases not included in bonus categories is low.
- Special offer concerning APR: You can make any purchases and carry out balance transfer operations for free during the first 12 months.
- Standard APR amounts to 14.24-20.24% but it may vary. The card comes with the Cash Advance fee of 25.99% that may vary.
- There is no fee to pay.
- Special Offer: You have an opportunity to get a one-time bonus of $300.
More details concerning the card:
- You qualify for the sign-up bonus mentioned under the condition that you spend at least $3,000 on various purchases with the card. There is a time limit to do that that amounts to 3 months.
- There is a long list of purchases for which the effective rate of 5% applies. However, there is a preset spending limit in the categories of $25,000 per year.
- For the purchases you make at gas stations and restaurants the rate of 2% applies. There is also the same limit of $25,000.
- All the rest purchases made with the card go under the rare of 1%.
- There is an interest free period that amounts to 12 months.
- You can request additional cards for your employees for free.
- The card comes with no annual fee to be paid by its cardholders every year.
General overview of the card and our opinion:
- The card doesn’t cost anything to carry.
- In case you decide to make some purchases with the card abroad, be ready to pay the fee of 3% on top of the total sum of each purchase.
- You’re given rewards in the form of cash back.
- There s a fair sign-up bonus promised that new cardholders can easily get.
Our opinion: The card is perfect for those CEOs who have large office expenses.
The card seems to be a great option to consider for the following categories of people:
- CEOs who run a business that has high expenses in terms of telecom, cable or office supplies.
- People who want to earn rewards with a business card when using it in restaurants at gas stations.
- CEOs that need a simple card with a straightforward rewards structure.
The card isn’t great for the following categories of people:
- CEOs that have a small business that doesn’t require big purchases in the bonus categories.
- CEOs who spend more than $25,000 a year on their business in terms of the purchases for which the highest rate applies.
- People who need to go on business trips regularly.
Basic features of the card
We’ve already mentioned that the card comes with several rewards rates. The purchases you make with the card go under the rates of 5%, 2% and 1%.
Apart from the sign-up bonus, you’ll have a chance to pay off your purchases gradually without the need to pay any interest. We believe that 12 months are more than enough to be able to pay off one big purchase at least. The card allows its cardholder to earn rewards when making purchases at Office Depot or any other office supply store that you’re free to choose by yourself.
The reasons for you to consider applying for the card
The most amazing thing about the card is that it’s simple and has a rewards program to offer. The card will be great for those looking for a high effective rate for the purchases that are often made by those who own a small business. There is no annual fee to be paid for the privilege of using it, but there is a good sign-up bonus that you can easily catch. This is a rare feature for the business cards that come with no sign-up bonus.
The reasons for you to consider applying for a different card
If you see that one of the following describes your situation, we think you’d better consider getting a different card.
- Your company doesn’t spend much money on the purchases from the 5% cash back category. If this is about you, you’d better get a business card that offers flat-rate rewards. For example, there is the Capital One® Spark® Cash Select for Business that allows a cardholder to get a cash back of 1.5% for absolutely all the purchases. There is neither annual fee no any additional fees that occurs in case you decide to use the card abroad. These features already make the card worth paying attention to. The truth is that it’s not all the card has to offer. There is a sign-up bonus of $200 that’s given to a cardholder is he/she manages to spend $3,000 with the card within the first 3 months.
- You need to go on business trips regularly. If you travel abroad for business purposes quite often, you’re, probably, looking for a car with a set of travel perks. We recommend you having a look at the Starwood Preferred Guest® Business Credit Card from American Express that allows you to earn rewards for booking hotels and redeem them for the value of 2.3 cents per point. Due to the fact that this card is designed for those who travel internationally there is no fee to pay for the purchases you need to make while travelling.
Summary: Is the Ink Business Cash℠ Credit Card the best card for you?
The card seems to be a good deal for those who avoid paying annual fees, but want to be get rewards for certain purchases.