How do I cancel an Ink Cash credit card?

You can cancel your Chase credit card by calling 1-800-432-3117, or online by signing in to your account.

Don't forget to pay any outstanding balances you might have before cancelling. Also keep in mind that cancelling a card could hurt your credit score. It's best to just leave it open and unused.… read full answer

In case you have a card with an annual fee and it's not really worth it for you, you could try asking for a downgrade to a Chase card without an annual fee. This way you can avoid hurting your credit score, but it's not available for all of their cards.

Closing a credit card with zero balance is not a good idea if that card has no annual fee. Any credit card you manage responsibly, even an unused one, reflects positively on your credit history. So closing such a card will have a negative impact on your credit standing. But it can be worth it if your card is costly or if you’re worried about falling victim to fraud while you’re not keeping a close eye on it.… read full answer

Here are the arguments against closing a credit card with zero balance:

1. Average account age suffers. This makes up at least 15% of your overall credit rating, so shortening it can hurt. Here’s a quick example: Imagine you have three credit card accounts, which have been open for 3 years, 5 years and 10 years, respectively. The average account age is 6 years. If you close the 10-year-old account, the age of your average account falls to 4 years. Older accounts are better for your score because a long track record of responsibility tells issuers you’re likely to behave the same way in the future.
2. Utilization increases. “Utilization,” or how much of your credit line you use, is important to your score. Creditors care about both your utilization on individual cards and your total utilization. Generally, the lower each is, the better. And closing an account with zero balance will increase your total utilization.Let’s say you have three credit cards, each with a $1,000 credit line. You use 0% of one and 25% of the other two. Overall, that’s 16.7% utilization. But if you cancel the unused card, it jumps to 25%. That’s troublesome because credit score damage typically worsens if your utilization rises above 30%, and you’d be close to that milestone.

So closing an account will be a blow to your credit. You can improve your score afterward by paying on time with your remaining account(s). But it’s usually best to just keep accounts open and avoid the damage entirely. There are a few exceptions, though.

Here’s when to close a credit card with zero balance:

• It has an expensive annual fee.
• You’re worried about fraud and won’t be monitoring the card as closely. All credit cards give you a $0 fraud liability guarantee, but you might not want to count on the issuer to flag every fraudulent charge on its own.
• Keeping it open becomes a hassle, for one reason or another.

By the way, in case you’re wondering, it is possible to close a credit card that has a balance. But you’ll still be responsible for paying and will continue to accrue interest until the balance is fully paid off, even after the account is closed. You just won’t be able to make any new purchases.

If you’d like to monitor how your credit changes after you’ve closed an account, you can track your credit report and score for free on WalletHub, the only site where reports and scores update daily.

One of the best Chase business credit cards is the Ink Business Preferred® Credit Card because it offers 100,000 points for spending $15,000 in the first 3 months. This card also gives 3 points per $1 on the first $150,000 spent per year on travel and select business expenses, and 1 point per $1 on all other purchases.

In addition to its rewards, Chase Ink Preferred provides free employee cards and has a $0 foreign transaction fee. The annual fee is $95.

Best Chase Business Credit Cards

The Chase Ink Preferred card is one of the … read full answerbest business credit cards with rewards, offering a ton of value at a pretty low cost. This card requires at least good credit for approval and has a $95 annual fee.

Initial bonus: 100,000 points for spending $15,000 in the first 3 months.

Rewards: 3 points per $1 on the first $150,000 spent per year on travel and select business expenses, and 1 point per $1 on all other purchases.

Other benefits: The Chase Ink Preferred card also comes with fraud protection, purchase protection, extended warranty protection, and travel insurance, among other benefits.

The Ink Business Premier card is a good credit card for business owners with at least good credit who plan to make big purchases and don’t want to deal with rewards rates that vary by spending category. The card has a $195 annual fee.

Initial bonus: $1,000 for spending $10,000 in the first 3 months.

Rewards: 5% cash back on travel through Chase, 2.5% back on every purchase totaling at least $5,000, as well as 2% back on all other purchases.

Other benefits: The Ink Business Premier card also comes with fraud protection, purchase protection, cell phone protection, and extended warranty protection, among other benefits.

The Ink Cash card is a very good credit card for business owners with at least good credit who want to earn cash back rewards. In fact, Ink Cash offers the best ongoing cash back bonuses of any Chase business credit card. Plus, the card is easily worthwhile considering its $0 annual fee.

Initial bonus: $900 for spending $6,000 in the first 3 months.

Rewards: 5% cash back on the first $25,000 spent per year in combined purchases at office supply stores and on internet, cable and phone services; 2% cash back on the first $25,000 spent per year at gas stations and restaurants combined; and 1% back on all other purchases.

Other benefits: The Ink Cash card also comes with fraud protection, purchase protection, extended warranty protection, and roadside dispatch, among other benefits.

The Chase Ink Business Unlimited card comes out on top if you want to earn rewards at a flat rate. The card requires at least good credit for approval and has a $0 annual fee.

Initial bonus: $900 for spending $6,000 in the first 3 months.

Rewards: 1.5% cash back on all purchases.

Other benefits: The Chase Ink Business Unlimited card also comes with fraud protection, purchase protection, and extended warranty protection, among other benefits.

If your business involves travel, you could also benefit from several co-branded Chase credit cards.

Some of the Best Chase Co-Branded Business Credit Cards

The United Business Credit Card offers 1 - 2 miles per $1 on purchases. The card also gives 75,000 miles for spending $5,000 in the first 3 months. Cardholders get a free first checked bag on United flights, too.

This card requires at least good credit and its annual fee is: $0 intro 1st yr, $99 after.

The Southwest Plus Card offers 1 - 2 points per $1 spent on purchases, plus two free checked bags on Southwest flights. The card also gives a 50,000 points for spending $1,000 in the first 3 months.

This card requires at least good credit and has a $69 annual fee.

The IHG Premier offers 3 - 10 points per $1 on purchases. The card gives a 175,000 points for spending $3,000 in the first 3 months, plus a free night after each account anniversary.

This card requires at least good credit and has a $99 annual fee.

How to Apply for a Chase Business Card

The easiest way to apply for a Chase business card is online. Just choose the card you prefer and click on the “Apply Now” button. You can also apply for a business credit card in person, at a Chase Bank branch during normal business hours.

You'll have to supply Chase with your personal and financial information, including your Social Security number. In many cases, you’ll get a decision instantly, but it could take up to 30 days to receive a decision letter by mail.

Keep in mind that most Chase business cards require at least good credit for approval. You can check your credit score for free on WalletHub to see where you stand. You will also need to have proof of business income, among other requirements.

If you’re not committed to Chase, you can also check out our editors’ latest picks for the best business credit cards on the market to weigh your options.