As a small business owner, side hustle champ, or prospective ‘solopreneur’, you do not have time to squander researching the ideal credit card to assist you achieve your dreams.
You will need a credit card to benefit you with cashback in the purchases you are already earning — without complex hoops to jump through or bizarre cashback redemption rules to consider.
That is why the Ink Business Cash charge card from Chase and the Citi Double Cash credit card are both so appealing.
While you rewards you for spending money on your business, the other doles out boundless rewards for everything else you are juggling.
There’s an obvious winner if you are a business proprietor.
Greater Benefits, Better for Small Businesses
The Double Cash card can’t compare to the 5% cashback speed Ink Business Cash provides for office supply purchases and phone, internet, and cable bills if you are a business proprietor.
Plus, Chase sweetens the deal farther by gifting new cardmembers a 300 signup bonus if they spend $3,000 over the initial few months in addition to a 0 percent introductory APR for their first year.
How the Chase Ink Business Cash contrasts into the Citi Double Cash
|Ink Business Cash||Citi Double Cash|
|What is your minimum credit score needed?||Great to excellent (690+)||Great to excellent (690+)|
|Average APR?||14.24 percent–20.24 percent||14.49 percent–24.49 percent|
|Annual commission?||Not one||Not one|
|Just how big is your sign-up bonus?||$300 cashback||Not|
|How much do you want to spend to receive the bonus?||$3,000 in the initial 3 months||N/A|
|How many things do you buy for each dollar?||5% cashback on office distribution and telecom services/purchases (around $25,000); 2% cashback on dining and gas stations (around $25,000); unlimited 1% cashback on all other purchases||1% cashback on all purchases; 1% cashback when creating your minimum payment|
|Any restrictions?||Not one||Not one|
|in the event that you spent $100 on the card, just how much could the things be worth in dollars?||For telecom services, you’d have $5. If that $100 has been spent gas or dining, it could be worth $2 cashback. And if the purchase was made out of those categories, you’d make $1.||Invest $100 on purchases and you’re going to charge $1 cashback. Pay the minimal due and you’re going to earn another 1%.|
The Ink Business Cash card boosts rewards for your business in a way the Double Cash card can’t conquer.
Plus, your cashback never expires.
Earn 5% cashback on office supply purchases and phone/cable costs. For every $1 spent on paper, printer toner, highlighters, and phone, cable, and internet, you’ll charge 5% cashback.
Profit 2% cashback on dining and gas. Thus, if you spend $1,000 carrying investors out or customers, traveling to conventions, and feeding your team, you’ll net $20 cashback in one month.
Bank 1% cashback on all your other purchases. Score unlimited cashback on purchases which don’t fit in the above categories and for purchases made in those categories after you reach your earning cover.
Pay3,000 for a $300 signup bonus. When you get $3,000 to your card over the initial few months of opening your own account, you’ll receive a $300 charge. That is equal to earning a 10% cashback speed.
Pay no interest for 12 months. New cardholders like 12 months of 0% introductory APR for both purchases and balance transfers. So, if you have got a huge purchase in your mind but can’t manage to pay for it upfront, do not fear swiping.
People adore the Ink Business Cash since they earn cashback on purchases their business currently makes
New cardholders have the capacity to earn $1,250 in cashback in their office provide and internet/phone purchases, $500 cashback from dining and gas purchases, and also an unlimited quantity of cashback on every thing else.
That is cashback worth at least $1,750 annually if you are hitting your category maximums.
“This card includes all the bells and whistles you can imagine and is perfect for small business and entrepreneurs who want flexibility and easy to handle,” one cardholder writes.
“It seems you need a business card which can help keep operations smooth. So far, that is precisely what this card will,” some other notes.
The Largest customer complaints regarding the Ink Business Cash would be the restricted cashback categories and earning limits
Moonlighting solopreneurs might not require 5% cashback on office supplies and restaurants just as far as they require a cashback credit card for airplane tickets, hotel rooms, and promotional material advertisements.
The Chase card’s highest-earning cashback category can also function as most limiting.
Even the SimplyCash Plus Business Card by AMEX provides the same 5 percent cashback back to office supplies and telecom purchases — and then gives cardmembers a selection of where they’d love to earn 3% cashback.
This alternative could be helpful if you’re looking for travel benefits like frequent flyer miles too.
Besides the limited categories, small business owners who have larger operations have to be concerned about maxing out their benefits earning.
Once you reach $25,000 in spending in the 5 percent and 2% cashback categories — that is approximately $2,000 per category per month — you’ll only get 1% cashback in those categories prior to your next year.
The takeaway: You’re the Perfect client for your Ink Business Cash if workplace supplies and phone/internet invoices are your top costs
You’re an ideal candidate for your Ink Business Cash card if you reply “yes” to the following questions:
- Are most of your monthly expenses for office supplies and cable/internet/phone service?
- Can you frequently expense dining and gas purchases?
- Can you have good credit? (at least 690 credit score or greater)
If you replied “no” to a couple of queries, reevaluate the Chase card and instead opt for a more elastic cashback credit card like the Citi Double money.
Then again, the Double Cash card Provides boundless 1% cashback on all purchases and a second 1% back on payments
Earn cashback double. Double Cash cardmembers score unlimited 1% cashback for each buy — sans particular spending groups and spending limits.
Then you get another 1% cashback when you pay your charge card bill. Provided that you pay the minimum amount due, it’s like bringing in 2% cashback.
Love 18-months of 0% intro APR for balance transfers. Complete a balance transfer over four months of opening your own accounts and pay no interest in your transferred balance for a year and a half an hour.
Folks adore the Double Cash card as you earn an unlimited quantity of cashback — double!
Double Cash cardholders never have to be worried about using their card for certain purchases; every trade is eligible for the same unlimited 1% cashback.
Plus, when you pay off credit card bill, you will get another 1% cashback only for earning the payment.
1 cardholder writes: “I adore the rewards accumulate so quickly and I do not have to remember to make use of a particular card for a particular sort of buy in lifestyle. It all just goes on this card. So easy!”
The Largest customer complaint about the Double Cash card is the rules for redeeming cashback
Redeem cashback only after you reach $25. You can only redeem your cashback as soon as your rewards balance hits a particular threshold.
Use your cashback before it expires. When you haven’t made any payments or purchases in 12 months, all the cashback benefits you earned will vanish as if you never banked them.
The takeaway: You’re the ideal Citi Double Cash cardmember if you hate keeping tabs on cashback earning categories
This card can turn into your preferred if you reply “yes” to the following questions:
- Would you rather earn an unlimited cashback speed for all your purchases instead of directing your spending on certain cashback categories?
- Would you like to transfer a balance from a high-interest charge card?
- Can you have good credit? (credit score690)
If you replied “no” to any of these queries, reevaluate the Citi Double Cash card and opt for a benefits or cashback credit card instead.
Chase and Citi are both members of the Big Four Banks of the United States
Chase and Citi, the financial backers and charge card issuers of their Ink Business Cash and Double Cash cards, respectively, make up half of those Big Four Banks in the US.
These four hold nearly 40 percent of all US customer deposits.
JPMorgan Chase is original concerning sheer size when it comes to banks in the US. Chase boasts over 93 million cardholders in its loved ones.
Citi is the world’s biggest charge card issuer. With more than 55 million credit card balances, Citi cardholders earn $421 billion in annual purchases.
JPMorgan Chase services protect your business; Citi providers impress customers and investors
When you are approved for your Ink Business Cash or Double Cash card, you’ll automatically be entitled to the Chase or even Citi customer services.
Comparison of Services
The good and the bad about Chase solutions
Call the Chase Benefit Administrator if you require help on the road. A Chase Benefit Administrator can offer medical referrals or help with travel and emergency help.
Secure peace of mind with roadside assistance. Lock your keys in your car? Need a jumpstart, additional gasoline, or help repairing a flat? No problem! Chase cardholders can predict 1-800-847-2869 anytime and help will soon be on the road (for a cost charged to a card).
The good and the bad about Citi solutions
Impress your customers with Citi Private Pass. Get special early accessibility to presale tickets and VIP packages for concerts, sporting events, exclusive dining experiences, free movie screenings, and a great deal longer to wow your clientele.
Accomplish more with Citi Concierge. Book reservations for supper or find the very best place in town for cocktails. Ring up Citi Concierge and a team of specially-trained experts will be prepared to help you with your traveling, shopping, amusement, and other requirements.
Eliminate buyer’s remorse with Price Rewind. Citi Price Rewind saves you money — automatically. Use your Citi card for purchases and also the Price Rewind wizards will hunt for a lesser cost for a full 60 days following your transaction.
If the identical thing is found for less, you can receive the gap between the price you paid and also the decrease amount — around $300 for every buy as well as $1,200 annually for your account.
Citi services provide the products if you prefer impressing clients
The Citi Double Cash card provides additional perks and services to make you look like a professional in-the-know.
Rewards and Fees
Ink Business Cash benefits and signup bonuses conquer out the Double Cash card for small businesses
The Ink Business Cash benefits card delivers far more in benefits and signup bonuses.
The good and the bad about the Ink Business Cash bonuses and rewards
Bank a 300 signup bonus. Make only $3,000 value of purchases in the initial few months after opening your account and you’ll receive $300 in cashback only for being a brand new cardmember.
Pay interest for 12 months. With 0% intro APR, you will not have to pay any interest on your purchases or balance transfers for one entire year from the account opening.
Pick from multiple approaches to redeem your cashback. Redeem your cashback as a statement charge applied to a balance, get it directly deposited to a US checking or savings accounts, or as among over 70 different present card options (like those to Home Depot, iTunes, and Staples).
Shop on Amazon along with your cashback. Use your cashback to immediately cover part or all your eligible Amazon.com orders.
Redeem cashback for traveling through Chase Ultimate Rewards. Head over to the Chase Ultimate Rewards gateway to reserve everything from vacation packages to cruises, car rentals, and airfare on most major airlines.
There are no restrictions or blackout dates when you reserve your airfare via Chase Ultimate Rewards.
The good and the bad about the Citi Double Cash bonuses and rewards
Do not search for a signup bonus. You’re going to receive nothing for getting a brand new cardmember.
Redeem your cashback only when you bank 25. As soon as your cashback balance hits $25, you will be eligible to redeem your cashback as a check, invoice credit, or gift card. You can also redeem as a charge to a linked Citi savings or checking accounts.
Visit or contact them at 1-855-473-4583 to redeem your cashback rewards.
Use them or lose them, your cashback will perish. If you haven’t made any payments or purchases in 12 months, all the cash rewards you make will vanish as if you never banked them.
Your cashback rewards never expire on the Ink Business Cash card.
The takeaway: The Ink Business Cash beats the Double Cash when it comes to earning and redeeming cashback
The Ink Business Cash provides you a $300 signup bonus, several methods to redeem your cashback, and also your cashback never expires.
Besides, you’ll get 0% intro APR on the purchases and balance transfers for an whole year.
Ink Business Cash and Double Cash members also benefit additional purchase protection benefits
When your business depends on the products you buy, it’s wise to get your purchases shielded.
The good and the bad about the Ink Business Cash advantages
Protect your brand new purchases around $10k. Purchase coverage covers your new purchases for 120 days against damage or theft — around $10,000 per claim and up to $50,000 per accounts.
The good and the bad about the Double Cash benefits
You’ll receive less reimbursement per claim. Citi’s purchase protection against damage and theft lasts 120 days (or 90 days if your home is in New York). If anything occur during this time, you’ll receive around $1,000 per claim and up to $50,000 per year.
The takeaway: Chase’s advantages provide more security for small businesses than Citi’s
The Ink Business Cash card covers your purchases around $10,000. Citi will only cover every individual claim up to $1,000.
Rates and Fees
Neither the Ink Business Cash nor Citi Double Cash charges an Yearly fee
As there’s no annual fee for your Ink Business Cash or the Double Cash cards, it’s essentially free to utilize their services to rack up cashback rewards.
You can theoretically use either cards to pay for all your spending foundations free of cost to your organization.
Ink Business Cash prices, prices, APR, and fees
Love ordinary APR.. Cardholders will have a variable APR between 14.24–20.24 percent based on creditworthiness.
Reconsider before taking a payday advance. Pay either $15 or 5 percent of the sum of each cash advance, whichever is greater. Plus, the interest on your cash advance will be billed at a staggering 25.99 percent APR..
Fork over higher-than-average charges to move a balance. Be prepared to cover a balance transfer charge of $5 or 5 percent of the sum of each balance transfer, whichever is greater.
Limit your spending overseas. With the international transaction fee, every purchase made outside the US will incur a 3% commission.
Late fees based on your balance. You’ll incur a late fee charge of $15 if your balance is greater than $100; $29 if a balance is $100 or more, but less than $250; and $39 if a balance is more than $250.
You’ll also must pay a $39 yield payment fee.
Yells the punishment APR.. Don’t create the minimum payment by your due date and you could be charged a penalty APR up to 29.99 percent.
You’ll not only lose your 0% introductory APR offer, you are also going to be charged an interest rate that is nearly 10 points higher than the highest average APR..
What’s even worse is this penalty APR will apply indefinitely. In short: You’ll be paying a ridiculously higher APR even in the event you have good credit if you miss a payment.
Citi Double Cash Expenses, prices, APR, and fees
Cardholders will have a varying APR between 14.49–24.49 percent, based on creditworthiness, with the Double Cash card.
Pay a balance transfer with 18 months of 0% Nominal APR.. Transfer a balance over the initial four months from the date of your account opening and you’re going to enjoy 18 months of payments that are overburdened.
Watch out for greater cash advance charges. You’ll be billed either $10 or 5 percent of the sum of each cash advance, whichever is greater. The interest on your cash advance will be billed at 26.24 percent APR..
Maintain it stateside. Every purchase made outside the US will pay off a foreign exchange rate of 3% per trade.
First overdue payment waived. You won’t have to pay a late charge or incur punishment APR for your first missed payment.
Prevent super high punishment APR.. You’ll be billed around $35 each morning, missed , or returned payment.
Similarly, if you make a late payment or a fee that is returned (following your first mulligan), you could be billed penalty APR around 29.99% forever.
The takeaway: Both cards have similar rates and fees, however, the Ink Business Cash drops 0% intro APR
Considering both cards don’t have any annual fee, similar trade fees, and both terrifying punishment APRs, their biggest gap is the introductory APR provides.
Although the Double Cash cardholders can transfer a balance and snag 18 months of 0% intro APR to cover down it, the Ink Business Cash cardholders will dig 12 months of 0% intro APR on balance transfers and purchases.
Chase and Citi have expert customer support agents
When things go wrong or you need help, both companies understand how to deal with their cardholders.
Chase’s customer support
Attain an individual on Chase’s client support team 24/7. Just call the number on the back of your card on your billing invoice to get in contact. You could also call 1-800-432-3117.
Chase cardholders do not have many complaints about customer services. In Reality, they are all pretty positive testimonials:
“It comes down to relationship and trust. That is built upon customer support, along with the help, guidance, and safety offered by the team at Chase Ink is truly valued. To be able to have “a real man” and not be redirected through a number of “press 1 for this service” measures is, appreciated… Thank you!”
Bonus: you are able to tweet @ChaseSupport, the official client support Twitter handle for Chase, if you need help and do not wish to phone.
Citi’s customer support
Speak with a representative. Call the number on the back of your card, or 1-800-950-5114 in the event that you do not have your card, and just state “representative” for prompt personal help 24 hours a day.
“Citibank has always had outstanding customer support and is there to protect my accounts if something unexpected occurs. This is my “visit” card once I wish to feel secure with a buy!”
Bonus: You can also chat online with a customer support representative if you are a Citi cardholder.
The takeaway: Chase provides help by Tweet and Citi offers online chat service
Reach anyone at these companies 24/7 when you need help. You decide if you’d rather have that help via conversation or internet chat when you are splitting hairs.
The Ink Business Cash and Double Cash give cardholders digital tools to Take Advantage of their account
Both Chase and Citi cardmembers can download each business’s respective mobile app to monitor their accounts, make payments, and also check cashback earning.
Chase’s digital features
Pay for purchases with Chase Pay. Use the Chase Pay cellular app to cover along with your Ink Business Card at the register, at the pump, or even online.
Monitor your charge with Chase Credit Journey. Do you understand what with a good credit score actually means? Check your credit score for free, get yearly credit score updates, and play all the score simulator to figure out just how your score could be affected should you pay off debt, start new accounts, or even close existing ones.
Citi’s digital features
Make your purchases Apple Pay. Pay in-app or even at over 200,000 stores using Apple Pay as long as you have an iPhone 6, iPad Air two, or iPad miniature 3 or later.
Protect your accounts with Lost Wallet Service. Citi’s Lost Wallet Service can replace your card if it’s lost or stolen normally within a day. Citi can also supply you with emergency cash based on your available cash advance limit.
The takeaway: When it comes to digital tools, Chase has the benefit Due for the credit monitoring portal
Though you’ll need Citi’s Lost Wallet Service on your corner if you ever lose your card, you will utilize the Chase’s Credit Journey tool more frequently (preferably).
How To Employ Either Card
Now you know more about what every credit card is currently supplying, the best way to get started by filling out an application for either card is to check out every card’s respective site,
The best way to begin with the Ink Business Cash
Head to Chase’s site to employ to your Ink Business Cash card now.
As this is a business card, the application will be slightly different than the person for your Citi Double Cash card.
Before submitting an application for acceptance, you’ll be asked for the:
- Legal name of your business
- Form of business you conduct
- Tax identification number
- Amount of workers
- Annual Small Business revenue/sales
- Years in firm
- Business mailing address
Submit all of this info and you should hear an approval at the end of the business day.
Keep in mind you require great to excellent credit to qualify for your Ink Business Cash credit card. That means your credit score should be in the 690–850 range.
The best way to begin with the Citi Double Cash
Go to Citi’s site to use to your Double Cash card now.
This card also needs good to outstanding credit so you are going to want to check or raise your credit score to your 690–850 range if you wish to maximize your probability of approval.
Canceling Your Own Card
Canceling credit card balances has the capacity to reduce your credit score and negatively affect your credit report. Since the Ink Business Cash nor Double Cash card charge an annual fee, it’s literally free that you keep these reports open.
Nevertheless, it’s easy to offset either card with a customer support representative.
Cease with the Ink Business Cash by calling customer support
To cancel your Chase Ink Business Cash card, call customer support at 1-800-432-3117.
Quit the Double Money by calling customer support
Speak with a Citi representative concerning shutting your accounts by contacting customer service at 1-888-CITIBANK (1-888-248-4226).
Frequently Asked Questions
1. What does every card provider offer new clients as incentives?
The Ink Business Cash card provides new cardmembers a 300 signup bonus as long as they spend $3,000 in the first few months of opening their accounts. Plus, they will have 12 months of 0% introductory APR for both purchases and balance transfers.
The Citi Double Cash card simply provides new cardmembers the capacity to move a balance for 18 months of 0 percent interest.
2. Do you will need a checking or savings account with either provider so as to obtain one of the cards?
You don’t need to get a savings or checking account with either Chase or Citibank.
3. What if someone believe to determine which credit card is perfect for them?
Among the biggest questions you need to ask before receiving your first credit card is whether you are using it for business or personal purchases.
The Ink Business Cash card has been designed for smaller businesses. You’re going to find the absolute most out of this by maxing out the 5% cashback category for office supplies and telecom providers (i.e., internet, cable, phone). That requires spending approximately $2,000permonth.
In the event you do not spend nearly that far about those expenses, then the Double Cash card gives you boundless 1% cashback for each purchase you make — without group spending restrictions — and 1% cashback when you make your payments.
4. What are typical charge card limits for both cards?
Your credit line will be $3,000 with all the Ink Business Cash card. Chase may request extra information for a credit line above $25,000.
Cardholders have reported charge limits as low as $500 to begin with the Double Cash card. You might want to reduce your own debt/outstanding credit ratio if you’re trying to find a higher credit limit before you apply.
5. What credit score range if you are in before implementing for each card?
The Ink Business Cash card and the Double Cash card require good to excellent charge for acceptance. That means your credit score should be above 690.
Learn the body of good credit and poor credit to maximize your likelihood of being accepted for both cards today.
Conclusion & Takeaways
The choice of cashback rewards card can appear to be a no-brainer if you have a small business enterprise.
Having a 5 percent cashback category for office supplies and internet/phone/cable bills, you’ll earn benefits for expenses you are currently charging with all the Ink Business Cash card.
Besides, you will evaluate a $300 signup bonus and 12 months of 0 percent APR..
But if you do not have a small business or your business spends too little or much in the Ink Business Cash card’s restricted categories, the infinite cashback earning potential of the Double Cash card might be more appealing, especially in the event that you don’t wish to think about different benefits categories or deal with cashback generating caps.
Double Cash benefits like Citi Private Pass are solid if you are frequently showing clients or possible prospects a good time prior to signing contracts.
Whichever charge card business you choose, keep in mind that neither the Ink Business Cash nor Citi Double Cash features cashback in the form of miles, frequent traveler points, or other travel benefits.
You might want to take a look at a travel benefits card if your business expenses match those groups.
Can you utilize the Ink Business Cash or Double Cash card?
How has it worked out for youpersonally?
Let us know in the comments below.