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The Chase Ink Business Preferred℠ Credit 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 may be well worth its $95 annual fee.
New applicants can earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,250 toward travel when redeemed through Chase Ultimate Rewards®. 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.
If you’re interested for more offers from Chase, check out all the ongoing Checking/Savings account bonuses!
| BONUS LINK | OFFER | REVIEW |
| Chase Business Complete BankingSM | $300 Cash | Review |
| Chase Total Checking® | $200 Cash | Review |
Table of Contents
- 1 Chase Ink Business Preferred Card Summary
- 2 Chase Business Checking Option
- 3 Editor’s Alternate Pick
- 4 Ink Business Preferred Credit Card Bonus Points
- 5 What are Ultimate Rewards Points Worth?
- 6 Redeem Rewards
- 7 Pool Your Ultimate Rewards Points
- 8 Chase Ink Business Preferred Point Transfer Program
- 9 Ink Business Preferred Credit Card Top Features
- 10 Earn More UR Points With Sapphire℠ Checking
- 11 Conclusion
- 12 What’s the Competition?
Chase Ink Business Preferred Card Summary
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| Bonus Available | Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. |
| *Bonus Value | $2,000 |
| Ongoing Rewards/Benefits |
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| Foreign Transaction Fees | None |
| Annual Fee | $95 |
Recommended Free Credit Score (Get Free Score)
690 – 850 (Good-Excellent)
* The Chase Ink Business Preferred Credit Card is issued by Chase. They also offer great sign-up bonuses. You can also compare this card with other credit card bonuses!
* Bonus value is an estimated value calculated by BankCheckingSavings and not the card issuer.
View our latest valuations here.
PROS
- Sign-up bonus
- 1:1 point transfer
- Free employee cards
- No foreign transaction fees
CONS
- Annual fee
- Good-Excellent credit needed to qualify
- Capped bonus categories
Chase Business Checking Option
 • Earn $300 when you open a new Chase Business Complete Checking account. For new Chase business checking customers with qualifying activities. • More ways to waive fees. Multiple options to waive the Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink® Business credit card • Convenient access to payment processing. Accept card payments anytime, anywhere in the U.S., and get transparent pricing with Chase QuickAcceptSM. • Same-day deposits with QuickAcceptSM. Free up the cash you need to keep your business moving forward with same-day deposits at no additional cost. • Alerts to help you stay on top of your account activity. • Easy account management through Chase Business online and the Chase Mobile® app. • Unlimited electronic deposits, ACH and Chase Quick DepositSM. • Convenient access to 16,000 ATMs and more than 4,700 branches. |
Editor’s Alternate Pick
 The Capital One Spark Miles for Business offers a one-time bonus of 50,000 miles - equal to $500 in travel - once you spend $4,500 on purchases within the first 3 months from account opening. Your miles won't expire for the life of the account, and there are no categories to limit where or what you buy and you can earn 2 miles per $1 on every purchase. And 5X miles on hotel and rental car bookings through Capital One TravelSM using a Spark Miles card There is an annual fee of $95, however, there is a $0 intro annual fee for the first year. Enjoy no foreign transaction fees and fly on any airline, anytime, with no blackout dates or seat restrictions. |
Ink Business Preferred Credit Card
Bonus Points
Make use of the Ink Business Preferred card’s 100,000 Ultimate Rewards bonus points offer!
With the Ink Business Preferred card, it’ll be hard to find a higher value introductory offer on any card of any category. It’s enough to pay for a business trip or cover the cost of carrying the card for several years.
Here are some ideas on meeting the spending requirement:
| • Plastiq: Plastiq allows you to pay for expenses that you generally won’t be able to with your card like rent, tuition, auto lease, mortgage payment, and more. There’s a 2.5% processing fee for using your credit card. However, this’ll be worth the card bonus you’ll get. There’s also a referral program where you can earn “Fee-Free Dollars” to use towards processing fees. See our Plastiq review. |
| • Fund Checking accounts with your card: Many banks will allow you to fund the opening deposit with a credit card. Consider opening Checking accounts that also offer a sign-up bonus. This way, you can work towards bonuses from two different sources. Big banks like Chase, HSBC, Huntington, and TD Bank have great offers and allow credit card funding. You can generally fund anywhere from $50 to $1,000 towards the opening deposit with a credit card, depending on the bank. |
| • Buy gift cards: Consider buying gift cards with your credit card that you can then spend later at your leisure. Individual merchant cards (restaurants, gas stations, supermarkets, etc.) generally don’t have purchase fees, so this is a plus. On the other hand, American Express and Visa gift cards will have purchase fees. Amazon gift cards are a great idea as you can shop for almost anything there with no purchase fees either. Unfortunately, Citi credit cards tend to code gift card purchases as Cash Advances and there’ll be a fee. Call in to customer service and lower your Cash Advance limit to $0 before purchasing gift cards. You can also buy discounted gift cards as well from Raise or find gift cards on eBay. |
| • Everyday spending & bills: Always using your credit card for everyday spending, such as for dining, gas, groceries, etc. You can also use your credit card to pay for things like insurance bills, property taxes and income taxes. However, you’ll have to consider the convenience fees. |
What are Ultimate Rewards Points Worth?
The value of your points depends on how you use them, on average the value of each Ultimate Rewards point at around $0.02.
You can redeem your Ultimate Rewards points for:
- Travel: Premium vacation packages, cruises or fly any class on most major airlines. Points are worth 25% more if you book your travel through Chase Ultimate Rewards.
- Cash back: As a statement credit to apply towards your card balance, or get it directly deposited to most U.S. checking and savings accounts. There are no minimums to redeem as cash back.
- Gift cards: Over 70 gift card options available including Home Depot, iTunes, Amazon and Staples.
- Amazon items: Instantly redeem your points to pay for all or part of your eligible Amazon order, including taxes and shipping.
You can also transfer your points to a variety of travel partners at a 1:1 ratio. Depending on the booking scenario with a transfer partner, the average value of up to two cents per point.
Ultimate Rewards Airline/Hotel 1:1 Point Transfer Partners
| Airline Transfer Partners | Hotel Transfer Partners |
| Aer Lingus AerClub | IHG Rewards Club |
| British Airways Executive Club | Marriott Bonvoy (Previously Marriott Rewards) |
| Flying Blue AIR FRANCE KLM | The Ritz-Carlton Rewards |
| Iberia Plus | World of Hyatt |
| JetBlue TrueBlue | |
| Singapore Airlines KrisFlyer | |
| Southwest Airlines Rapid Rewards | |
| United MileagePlus | |
| Virgin Atlantic Flying Club |
If you don’t want to transfer your points, you can redeem your rewards by booking flights, hotel stays and rental cars through Chase Ultimate Rewards. All other redemption options are worth $0.01 or less.
Redeem Rewards
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.
Pool Your Ultimate Rewards Points
You can pool together points from all Chase cards that earn Ultimate Rewards points. This includes points between Business and Personal cards.
Personal cards that earn UR points:
These cards have a higher travel redemption rate through Chase:
- Chase Sapphire Reserve: 1 point = 1.5 cents (e.g. $750 value for 50k points)
- Chase Ink Business Preferred: 1 point = 1.25 cents (e.g. $625 value for 50k points)
- Chase Sapphire Preferred: 1 point = 1.25 cents (e.g. $625 value for 50k points)
Benefits of pooling your Ultimate Rewards points:
- You can transfer points at a 1-to-1 ratio to travel partners for even more value.
- If you combine your UR points and move them to your card with the highest travel redemption rate, all of your points combined will then receive the highest value. For example, 50k UR points with the Chase Sapphire Preferred are worth $625 in travel through Chase. Transfer those points to your Chase Sapphire Reserve and they’ll be worth $750 in travel.
- Transfer your UR points to Chase’s travel partners to potentially receive even more value (up to 2 cents per point per our valuations). This depends on the travel partner and booking details. Try out different booking scenarios to see where your points can get the most value.
Even if you mix business and personal cards, you can use these tips to form a multi-card strategy to maximize rewards.
Chase Ink Business Preferred Point Transfer Program
The Chase Ink Business Preferred is one of the few cards where you can transfer your accumulated points to select loyalty programs to help top off awards bookings at the respective hotel chain or airline. Depending on how you book with a transfer partner, you can get up to an average value of up to 2 cents per point.
Ultimate Rewards Airline/Hotel 1:1 Point Transfer Partners:
| Airline Transfer Partners | Hotel Transfer Partners |
| Aer Lingus AerClub | IHG Rewards Club |
| British Airways Executive Club | Marriott Bonvoy (Previously Marriott Rewards) |
| Flying Blue AIR FRANCE KLM | The Ritz-Carlton Rewards |
| Iberia Plus | World of Hyatt |
| JetBlue TrueBlue | |
| Singapore Airlines KrisFlyer | |
| Southwest Airlines Rapid Rewards | |
| United MileagePlus | |
| Virgin Atlantic Flying Club |
Ink Business Preferred Credit Card Top Features
Earn 3x Ultimate Rewards points on:
- Travel, including airfare, hotels, rental cars, train tickets & taxis
- Shipping
- Internet, cable & phone services
- Social media & search engine advertising
These bonus categories are capped at the first $150,000 spent in combined purchases each account anniversary year.
You can earn a maximum of 450,000 points from the 3X categories every year. If redeemed optimally, an annual rewards value of $9,000 in bonus categories alone.
You can add employee cards to your account at no extra cost, earning even more rewards from your staff’s spending. While also having the power to set spending limits for each card. So you can better manage your company’s budget.
Make purchases abroad without worrying about foreign transaction fees with the Ink Business Preferred card.
Earn More UR Points With Sapphire℠ Checking
Did you know? You can combine Ultimate Rewards points from all Chase products that earn them. The Chase Sapphire℠ Checking account is offering bonus Ultimate Rewards points when you sign up today. Read our Chase Sapphire℠ Checking review.
Conclusion
Reiterating, it seems like Chase is really pushing their fantastic business cards.
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 Credit Card. 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.
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Learn more about this card and its features here.
What’s the Competition?
* Below are some of the top competitors to the Ink Business Preferred Credit Card Card to consider.
Competitors With Similar Annual Fees:
The Capital One Spark Miles for Business offers a one-time bonus of 50,000 miles - equal to $500 in travel - once you spend $4,500 on purchases within the first 3 months from account opening. Your miles won't expire for the life of the account, and there are no categories to limit where or what you buy and you can earn 2 miles per $1 on every purchase. And 5X miles on hotel and rental car bookings through Capital One TravelSM using a Spark Miles card There is an annual fee of $95, however, there is a $0 intro annual fee for the first year. Enjoy no foreign transaction fees and fly on any airline, anytime, with no blackout dates or seat restrictions. |
 The Capital One Spark Cash for Business offers a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening. You're able to earn an unlimited 2% cash back could mean thousands of dollars each year going back into your business. Use Spark Cash across all your business spend, with no categories to limit your purchasing. This card does come with a $95 annual fee, however, there is a $0 intro annual fee for the first year. |
No Annual Fee Alternatives:
 The Chase Ink Business CashSM Card offers $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening. You'll earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year, 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, & % cash back on all other card purchases with no limit to the amount you can earn. This card comes with no annual fee. You'll be able to take advantage of employee cards at no additional cost & the 0% introductory APR for 12 months on purchases. |
 The Ink Business UnlimitedSM Credit Card offers $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening. You'll earn an unlimited 1.5% cash back on every purchase made for your business and you'll receive employee cards at no additional cost. This card carries no annual fee and you'll have the opportunity to take advantage of a 0% introductory APR for 12 months on purchases |
| BONUS LINK | OFFER | REVIEW |
| Chase Business Complete BankingSM | $300 Cash | Review |
| Chase Total Checking® | $200 Cash | Review |
| HSBC Premier Checking Member FDIC | $450 Cash | Review |
| HSBC Premier Checking Member FDIC | Up To $600 | Review |
| HSBC Advance Checking Member FDIC | $200 Cash | Review |
| HSBC Advance Checking Member FDIC | Up To $240 | Review |
| Aspiration | $100 Cash | Review |
| TD Bank Beyond Checking | $300 Cash | Review |
| TD Bank Convenience CheckingSM | $150 Cash | Review |
| Huntington 25 Checking | $500 Cash | Review |
| Huntington Bank Unlimited Plus Business Checking | $750 Cash | Review |
| Huntington Bank Unlimited Business Checking | $400 Cash | Review |
| Huntington Bank Business Checking 100 | $200 Cash | Review |
| Axos Bank Basic Business Checking | $100 Cash | Review |
| Ally Invest | Up to $3,500 Cash | Review |
Bankcheckingsavings has partnered with CardRatings for our coverage of credit card products. Bankcheckingsavings and CardRatings may receive a commission from card issuers.
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
