The Chase Ink Business Cash card now offers a 10% bonus on banking relationships and a simplified welcome offer requirement.

The Ink Business Cash® Credit Card is a top no-annual-fee business credit card that provides excellent cash back earnings. It offers a high rate of return on a variety of business purchases and often comes with a generous welcome bonus.

CNBC Select has detailed information on how to maximize the welcome bonus and business checking account opportunity with the Ink Business Cash card offered by Chase.

Chase Ink Business Cash Card changes

The Ink Business Cash card's features and benefits remain mostly unchanged, with the addition of a limited-time relationship bonus and a modification to the way the card's bonus is earned. Additionally, cardholders can now receive an automatic credit limit increase assessment every six months or sooner.

Welcome bonus requirements

New cardholders can now earn $350 cash back after spending $3,000 on purchases within the first three months of account opening and an additional $400 cash back after spending another $3,000 ($6,000 in total) on purchases within the first six months of account opening.

This change allows you to meet the spending requirement and earn a portion of the bonus early, which is a positive outcome.

Banking relationship bonus

Ink Business Cash cardholders who opened their accounts between March 17 and Nov. 17, 2024, can earn a bonus cash back. If you have both an Ink Business Cash card and a Chase business checking account on your first card anniversary, you'll receive a one-time 10% bonus on the cash back you earn from eligible purchases in your first year. This means, if you've earned $1,000 in cash back from purchases in your first year, you'll get a $100 bonus. To qualify for this offer, you need to open an Ink Business Cash card by Nov. 17, 2024, but the Chase business checking account just needs to be opened and active by your first card anniversary to receive the 10% bonus.

The Chase Business Complete Checking account is the most affordable option among Chase's tiers of business bank accounts. It requires no minimum deposit to open and has a $15 monthly maintenance fee that can be waived by meeting certain conditions, such as having a $2,000 minimum daily ending balance, making $2,000 in eligible purchases with an eligible Chase Ink Business card, and more. Additionally, you can earn a $400 bonus after meeting the qualifying activities, which include depositing $2,000 in new money into the account within 30 days, maintaining a $2,000 balance for 60 days, and making at least five qualifying transactions within 90 days of enrollment.

Alternatives to the Chase Ink Cash card

If your business spends less than $50,000 annually on credit card purchases, the American Express Blue Business Cash™ Card may be a more rewarding option. It offers 2% cash back on all purchases up to $50,000 per year, then 1% cash back. Additionally, this card has no annual fee (see rates and fees), making it a suitable choice for smaller businesses that won't fully utilize the Ink Business Cash's bonus categories.

The Bank of America Business Advantage Unlimited Cash Rewards Mastercard® credit card offers a relationship perk through the Preferred Rewards for Business program. This card earns an unlimited 1.5% back on all purchases, but cardholders can boost their return depending on how much money they have deposited across Bank of America business deposit accounts and Merrill business investment accounts. The lowest tier starts at $20,000, and the bonus will raise the cash-back rate by 25% to 75%, allowing cardholders to earn up to 2.62% back on every purchase.

Bottom line

The Chase Ink Business Cash Credit Card is undergoing a revamp. Although the changes are not significant, they are all positive. The welcome bonus is now simpler to obtain, and you can earn more cash back if you also have a Chase business checking account. If you prefer to earn cash-back rewards, this card remains one of the best options available.

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To learn about the rates and fees for the Blue Business® Cash Credit Card from American Express, please click here.