How does getting 5x for each $1 spent on your purchases sound? The Chase Ink Business Cash lets us do that in a roundabout way. It also lets us earn Ultimate Rewards faster, and we LOVE Ultimate Rewards because they are transferable points. Transferable points let us transfer to certain airlines and hotels, giving us a ton of flexibility.
This card has a higher minimum spend, but if you open it when you have some bigger expenses, it isn’t bad at all. For some ideas, here is how I met a $7500 minimum spend. Also, if you have the Chase Sapphire Preferred, the Chase Sapphire Reserve, or the Chase Ink Business Preferred, that $750 can be used as 75,000 Ultimate Rewards.
You don’t have to have a huge thriving business to get this card. I write a blog and got it. Any side hustle or gig can count as a business. I have a son-in-law who counts selling things on eBay as his business and has several business cards. Read our blog post about applying for business cards for more information.
Although it is advertised as a cashback card, you can transfer it to Ultimate Rewards if you have the Chase Sapphire Preferred, Chase Ink Business Preferred, or Chase Sapphire Reserve. If not, it is a cashback card only.
My favorite way to use this card is to buy gift cards at office supply stores (earning 5 points per $1 spent) when they have a special that you don’t have to pay the activation fee. This happens many times a year. I will buy several and then use them to pay for things I won’t earn as many points. Here are two examples.
We recently remodeled our basement and were buying a new television. I could get 2 points per $1 spent using my Venture One Capital Card. Instead, I bought 5 $200 Visa Gift Cards at Staples during a no-activation fee sale and used them at Best Buy to purchase the tv. I earned 5000 Ultimate Rewards instead of 2000 Venture points. That is enough for a free Hyatt stay if I transfer my points to Hyatt.
Alex did a similar purchase. She needed a new computer, so she bought 8 $100 Apple Gift Cards at Staples to use for her new computer. In this example, she earned 4000s Ultimate Reward- way more than she could have on any of her other credit cards.
I try to take advantage of these no-fee sales often so that I can earn more Ultimate Rewards. I often buy them for birthday and Christmas gifts, thus getting more Ultimate Rewards.
Not only is getting the Chase Ink Business Cash card a great credit card for the signup bonus, but it is also a great card for getting more Ultimate Rewards. Using it at office supply stores for gift cards makes it a card I will keep.
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