How to maximize Chase Ink business card welcome bonuses

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Ink Business Cash® credit card

  • Rewards

    Earn 5% cash back on the first $25,000 spent on combined purchases at office supply stores, internet, cable, and phone services in each account anniversary year (1% after that); 2% cash back on the first $25,000 spent on combined purchases at gas stations and restaurants in each anniversary year of the account (then 1%); 1% cashback on all other purchases

  • welcome bonus

    Earn $900 in bonus cash back after spending $6,000 on purchases in the first 3 months from account opening

  • Annual contribution

  • Introduction APR

    0% for the first 12 months from account opening on purchases; N/A for balance transfers

  • Regular APR

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction costs

  • Need credit

Ink Business Unlimited® credit card

  • Rewards

    Earn 1.5% cashback on every purchase for your business

  • welcome bonus

    Earn $900 in bonus cash back after spending $6,000 on purchases in the first 3 months from account opening

  • Annual contribution

  • Introduction APR

    0% for the first 12 months from account opening on purchases; N/A for balance transfers

  • Regular APR

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction costs

  • Need credit

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How to convert Chase “cash back” into transferable Chase Ultimate Rewards points

Before diving in, it’s important to understand that although the Ink Business Cash® credit card and Ink Business Unlimited® credit card are advertised as cash back cards, they really aren’t. In reality, the cards earn Hunt for Ultimate Rewards® pointswhich you can exchange for a value of one cent each.

In other words, these cards come with a sign-up bonus of 90,000 Chase Ultimate Rewards points after spending $6,000 on purchases within the first three months of opening the account. That’s an important distinction, because with a little effort, you can redeem Chase Ultimate Rewards points for exponentially more than 1 cent each on airfare travel, hotel stays, and more.

The key to unlocking this potential is through the Chase Sapphire Preferred Card®, Haunt Sapphire Reserve® or the Ink Business Preferred® credit card.

Chase Sapphire Preferred® card

  • Rewards

    $50 per year Ultimate Rewards Hotel credit, 5X points for travel purchased through Chase Ultimate Rewards®, 3X points for dining, 2X points for all other travel purchases, and 1X points for all other purchases

  • welcome bonus

    Earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months of opening your account. That’s $750 when you redeem through Chase Ultimate Rewards®.

  • Annual contribution

  • Introduction APR

  • Regular APR

    18.99% – 25.99% variable on purchases and balance transfers

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction costs

  • Need credit

Haunt Sapphire Reserve®

  • Rewards

    Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases per year. Earn 3X points on other trips and restaurants & 1 point per $1 spent on all other purchases plus 10X points on Lyft rides through March 2025

  • welcome bonus

    Earn 80,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening

  • Annual contribution

  • Introduction APR

  • Regular APR

  • Balance transfer fee

  • Foreign transaction costs

  • Need credit

Ink Business Preferred® credit card

  • Rewards

    Earn 3x points per $1 on the first $150,000 spent on combined purchases in selected categories in each account anniversary year (travel, shipping purchases, internet, cable and telephone services, and ad purchases with social media sites and search engines), 1x point per $1 on all other purchases

  • welcome bonus

    Earn 100,000 bonus points after spending $15,000 on purchases in the first 3 months of opening your account

  • Annual contribution

  • Introduction APR

  • Regular APR

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction costs

  • Need credit

Up to $1,350 in value through the Chase Travel Portal

Independent, Ultimate Rewards points are worth it one cent each. However, depending on the annual Ultimate Rewards card you own, you can get up to 50% more value for your points when redeeming for airline tickets, hotel stays, rental cars, or cruises through the Chase Travel Portal:

So if you have the Chase Sapphire Preferred Card® or Ink Business Preferred® credit cardyou get up to $1,125 in travel with this 90,000 point ink bonuses. With the Haunt Sapphire Reserve®you get up to $1,350 in value.

The Chase Travel Portal works the same way to any other online travel agency, such as Expedia or Booking.com, and allows you to book almost any flight, hotel and/or car rental in the world. If you value simplicity and prefer an easy way to redeem your points, this is the way to go. Better yet, you can mix your payment method between points and cash for any amount. However, if you’re willing to strategize a bit, you can double or triple this value, as you’ll see below.

Up to 12 one-way domestic flights in the US economy

Chase has 14 airline and hotel partners you can transfer your points to. Among them is British Airways Executive Club.

This airline is a strategic Chase transfer partner for anyone with travel purposes, including short hops operated by Oneworld alliance partners such as American Airlines or Alaska Airlines. If you want to visit your family a few states away for the holidays, or if you are someone who likes to head south for the winter, British Airways Avios could be a good fit.

For non-stop domestic bus flights you pay:

  • 7,500 points each way for flight durations of less than 650 miles (e.g. Atlanta to Miami)
  • 9,000 points each way for flight duration between 651 and 1,151 miles (i.e. New York to Orlando)

An ink bonus of 90,000 points can get you between nine and twelve single short-haul domestic flights.

A word of caution with these redemptions: Some domestic short-haul fares are extremely cheap. Check the cash price of the ticket before transferring your points to British Airways. You can spend fewer points by simply booking the ticket through the Chase Travel Portal at a rate of 1.25 to 1.5 cents each.

Luxury Hyatt hotel stay

Two return trips by coach to Europe

$1,200+ on Southwest flights

Southwest Rapid Rewards is another convenient transfer partner of Chase Ultimate Rewards. The airline serves plenty of fun destinations in the US (including Hawaii), as well as the Caribbean, Mexico, and even Costa Rica.

Southwest points are generally worth about 1.4 cents each toward Southwest airline tickets. That means you should get about $1,200 in airfare from a 90,000 point bonus.

The route below from Chicago to Honolulu costs just under 37,000 round trip points. The same exact flights cost $527 in cash. You should have no trouble getting at least two round trips from a Chase Ink Card welcome offer.

Photo courtesy of southwest.com

Up to $1,350 in statement credits through Pay Yourself Back

Chase’s Pay Yourself back feature allows you to redeem your points and effectively “clear” eligible charges from your credit card account. You get a higher value for your points with this method than when you exchange them for instant cash back. Below are the cards, their respective Pay Yourself Back categories and the value of the points you get when you use this tool:

The Ink Business Cash and unlimited 90,000 point bonus would net you $990 in internet, cable, phone service, and shipping charges with those cards, while the bonus would be worth $1,350 if you had the Sapphire Reserve and redeemed your points for covers Airbnb or dinner fees.

$900 cash

$900 in gift cards

If you prefer gift cards over cash, you can redeem Chase Ultimate Rewards points for gift cards at a rate of one cent per point. Eligible sellers include:

  • Apple
  • Bath and body works
  • Chili’s
  • Chipotle
  • ByDash
  • eBay.com
  • Hole
  • Google Play
  • from Kohl
  • Xbox

Redeeming points for gift cards is generally not the best option for a number of reasons:

  • Cash is much more flexible than gift cards – and it doesn’t expire. There’s nothing a gift card can buy that cash can’t.
  • When you redeem points for a gift card, you do not earn points for your spending. A better strategy would be to use your card to purchase the gift card you want and then pay yourself back by exchanging it for cash back.

One minor exception is that you can occasionally buy gift cards with a 10% bonus, which gives you a value of 1.1 cents per point.

It boils down

Editor’s Note: Opinions, analyses, assessments or recommendations expressed in this article are those of the Select editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.

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