With the Ink Business Unlimited℠ Credit Card, you get unlimited 1.5% cash back on all purchases with no categories to track or activation dates to keep on your calendar. When you compare it to other business credit cards, it has lower rewards rates but charges no annual fee — which is a major perk in a fee-heavy category. Unlike other business cards, you’ll be able to get free employee cards to help maximize your rewards across the board. Overall, it’s an intriguing option for a business owner who wants to earn cash back easily.
What we like about the Ink Business Unlimited℠ Credit Card
- Introductory bonus: Get $500 back after you spend $3,000 in the first three months after opening your account. This introductory bonus is fantastic compared to many other credit cards.
- Unlimited cash back rewards: There are no limits on the number of cash back rewards you can earn, unlike many other cards. Although the reward rate is low, your earnings won’t get cut off after a certain amount.
- Earn cash back on every purchase: If you’re looking for a simple cash back rewards program, this card can offer it. You’ll earn cash back on all purchases you make throughout the year, which means you don’t have to track category spending.
- No interest in the initial year: This card offers you 0% intro APR for the first 12 Months after you open the account, then 13.24% - 19.24% Variable. If you plan to keep a balance on your account, having no interest could save you some cash during the first year.
- Free employee cards. With this card, you’ll get free cards that your employees can use. Also, you’ll be able to earn rewards on your employees’ purchases on their cards.
- No annual fee. There’s no annual fee to pay when you open this card. It’s a fantastic perk to earn rewards without having to pay every year to hold the card.
Things to consider
- Low rewards rate. Although the rewards are easy to track since you earn 1.5% back on everything, the rate is low compared to some other cash back rewards cards. You could likely find higher cash back rates with another card, but you would have to put in more work.
- Foreign transaction fees. For any swipe of your card overseas, you’ll pay 3% of each transaction. If you travel abroad frequently, this might not be the best card for you. Although these additional costs seem small, they can add up over time and increase the overall cost of your trips significantly.
Cash back rewards details
You get a simple 1.5% cash back on all purchases, regardless of category. There are no spending limits, meaning you won’t stop earning after a certain point.
To get the most out of the cash back rewards of $500 on this card, you’ll need to spend $3,000 in the first 3 months after you open your account. Then, you can use the card for your everyday business expenses and give your employees cards for business expenses. You’ll gain unlimited cash back on every purchase you make, so using the card as often as possible will earn you as much back as possible.
The Ink Business Unlimited℠ Credit Card doesn’t come with an annual fee. However, it does charge foreign transaction fees. You’ll pay 3% of each transaction amount when you use this card abroad. If you make a late payment or your payment is returned, you’ll pay $39.
How does it compare to other cash back cards?
The Ink Business Unlimited℠ Credit Card is excellent for anyone looking for a cash back card with a straightforward rewards program. However, some cards offer higher rewards potential. For example, the Discover it® Cash Back provides 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases. The Blue Cash Preferred® Card from American Express, on the other hand, offers 6% cash back on select U.S. streaming subscriptions and 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
|Card||Ongoing Purchase APR||Annual Fee||Intro Bonus||Credit Needed||Key features|
|Ink Business Unlimited℠ Credit Card||13.24% - 19.24% Variable||$0||$500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening||Excellent||Unlimited 1.5% cash back on every purchase made for your business|
|Discover it® Cash Back||13.49% - 24.49% Variable||$0||Discover will match all the cash back you’ve earned at the end of your first year, automatically. There’s no signing up. And no limit to how much is matched.||Good to excellent||5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.|
|Blue Cash Preferred® Card from American Express||13.99% - 23.99% Variable (See Rates & Fees)||Limited Time Offer: $0 introductory annual fee for one year, then $95. Offer Expires 12/10/2020 (See Rates & Fees)||Limited Time Offer: Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Offer Expires 12/10/2020||Excellent||6% Cash Back on select U.S. streaming subscriptions, 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more. Earn 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 3% Cash Back at U.S. gas stations. 1% Cash Back on other purchases. Terms Apply.|
The bottom line
Who could be the perfect fit for the Ink Business Unlimited℠ Credit Card? A business owner looking for a straightforward rewards program that gives cash back would do well with this card. With no annual fee, there isn’t a lot to lose when you sign up. Although your rewards rate isn’t as high as other options, this card could be the right choice if you don’t have the energy or time to track rewards categories.
However, you may want to look at other cards that offer more robust cash back rewards. The Discover it® Cash Back and the Blue Cash Preferred® Card from American Express both provide better rewards rates than the Ink Business Unlimited℠ Credit Card. Though, you will have to do more work to get more cash back by ensuring you spend in specific categories to maximize your rewards.
For rates and fees of Blue Cash Preferred® Card from American Express, please click here.
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