The Chase Ink Business Preferred℠ Card is one of the best small business credit cards one could get, thanks to the excellent sign-up bonus, a high rewards rate in common business categories, and a plethora of valuable perks.
If you do a lot of traveling for business or your spending matches the bonus categories, the Ink Business Preferred℠ Credit Card may be well worth its $95 annual fee.
New applicants can earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That’s $1,000 toward travel when you redeem through the Chase Ultimate Rewards® portal. Then, earn 3X points in select categories, aimed toward business owners.
You don’t need to have a formal business to apply for this card. In fact, your business is a “sole proprietorship” if you ever sell something on eBay, Craigslist, or do any freelance work. Simply use your name as business ID and Social Security number as tax ID on your application to apply. However, the earning rates and added perks are more appealing toward those with an actual company.
In addition, this card is subject to Chase’s 5/24 rule. If you’ve opened 5 or more credit cards over the last 24 months, you’ll most likely be denied. So, this card (or another Chase product) should be among the first ones for which you apply.
Lastly, this card is a great option for those who regularly have issues breaking or losing cellphones. The Ink Business Preferred℠ is one of the few cards available with cellphone protection.
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Chase Ink Business Preferred Card Summary
With the Ink Business Preferred℠ Card:
• Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
• Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
• Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn
• Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
• Redeem points for travel, cash back, gift cards and more - your points don't expire as long as your account is open
• No foreign transaction fees
• Employee cards at no additional cost
• $95 Annual Fee
Earn 3X Points on Business Spending Categories
The Ink Business Preferred℠ Card gives you 3X points on the first $150,000 in combined spending in these categories:
- Internet, cable and telephone service
- Advertising purchases with social media sites and search engines
All other purchases net 1X point.
The Chase Ultimate Rewards® program is one of the most flexible with many ways to redeem your points. You can make travel purchases from outside travel sites and redeem your points for statement credits against these purchases. By redeeming your points this way, you don’t have to worry about blackout dates and seat restrictions. Points are generally worth 1 cent apiece.
Basic redemption options include cash back, gift cards and merchandise. However, these options won’t be of great value for your Ultimate Rewards® points. It’s best to stick to travel redemptions, since the alternatives tend to be worth less than a penny per point.
You can also redeem your points through Chase’s Ultimate Rewards® portal for a 25% bonus, boosting the value of your points to 1.25 cents per point. In addition, Chase has a network of airline partners and allows you to transfer your points to these partners at a high 1:1 rate. This allows you to find even better values on your points.
Regardless of which partner you choose, the Ultimate Rewards program is powerful through the flexibility it gives. You aren’t locked into a single airline or hotel, and you can wait until you’re ready to book one.
Out of all the perks the Chase Ink Business Preferred℠ Card has to offer, the cellphone protection stands out the most.
If you’re frequently dropping your cellphone or you’re accidentally leaving it behind somewhere, the Ink Business Preferred℠ may suit you. When you charge your monthly cellphone bill to the card, you and eligible employees on the plan receive up to $600 per claim for damage or theft of cellphones.
Though, this doesn’t mean you can be careless with your phone. You’re limited to three claims in a 12-month period and must pay a $100 deductible per claim. Nonetheless, this is an excellent benefit that is rare among credit cards.
Reiterating, it seems like Chase is really pushing their fantastic business cards. Essentially, you’ll get a 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening on the Chase Ink Business Preferred℠ Card. That’s $1,000 toward travel when you redeem through the Chase Ultimate Rewards® portal. Earn 3X points in select categories, aimed toward business owners.
However, if these categories don’t match your spending, you may be better off with another card to maximize your earnings. You can find some that may fit your liking in our credit card promotions list.
In addition, if you prefer cash rewards than points, consider another card, such as the Ink Business Cash℠. This card earns 5% cash back on up to $25,000 a year in combined spending at office supply stores and on internet, cable and phone services; 2% back on up to $25,000 a year in combined spending at gas stations and restaurants; and 1% back on everything else.
If you don’t like keeping track of bonus categories, the Capital One® Spark® Cash for Business card gives an unlimited 2% cash back on every purchase.
If you’re looking for more Chase credit card options then check out our Chase credit card promotions master list for more information.
The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.