Are you in the market for a business credit card? To make the most of your next credit card, you want to find one that rewards you for your company’s spending and allows you to maximize the perks. And for certain businesses, the Chase Ink Business Preferred will definitely check those boxes.
The Chase Ink Business Preferred is one of Chase’s three business credit cards in this series. The card offers one of the best sign-up bonuses on the market and 3X points in an impressive list of spending categories. Because of the high rewards on travel and the ability to redeem your rewards for more value when you book travel through Chase, this card is ideal for companies with a lot of business travel.
Wondering whether the Chase Ink Business Preferred is right for your business? Keep reading to learn what the card has to offer, how you can earn and redeem rewards, and what businesses it’s right for.
Chase Ink Business Preferred card at a glance
- Annual fee: $95 | Rates and fees
- Intro APR: None
- Regular APR: 15.99% – 20.99%
- Credit required: Good to excellent
- 100,000 point new cardmember offer
- 3X points on bonus categories
- 1X points on all other spending categories
Pros and cons
- Large new cardmember bonus
- High rewards in bonus categories
- 1.25x reward value when redeemed through Chase Ultimate Rewards
- No foreign transaction fee
- $95 annual fee
- No introductory APR
- Minimum rewards in non-bonus categories
100,000 bonus points
When you sign up for the Chase Ink Business Preferred, you can earn 100 000 bonus points if you spend $15 000 or more on purchases in the first three months after opening your account. Almost all purchases count, but balance transfers, wire transfers, gambling, and similar transactions don’t apply.
These 100 000 points can be redeemed for $1000 cashback or $1250 toward travel rewards when you redeem your points through Chase. Your rewards points will be available within 6 – 8 weeks of qualifying for the bonus.
The Chase Ink Business Preferred rewards credit card offers in an impressive number of spending categories. You’ll get 3X points on each dollar for spending on shipping, social media and search engine advertising, internet, cable, and phone services, and travel. The 3X points are limited to the first $150 000 of spending in these categories.
This rewards credit card also allows you to earn 1X points on each dollar spent on all other purchases, including purchases in the bonus categories that exceed the limit. The rewards you earn on these purchases don’t expire as long as you keep your Chase account open.
There are several different ways you can redeem your rewards points from Chase. First, you can redeem them on cashback, which can be applied to your statement balance or deposited into a checking or savings account. You can also use the points to buy gift cards at 150 top stores or spend them in the Apple Ultimate Rewards Store.
But to get the most value for your points, you can use them to book business travel through Chase Ultimate Rewards. The points can be used for any rental cars, flights, or hotels through Chase, and you can even transfer them to Chase’s travel partners.
The Chase Ink Business Preferred comes with the ability to earn plenty of rewards points, but that’s not the only benefit. Here are some of the other benefits that come with this card:
- No foreign transaction fees: Unlike other Chase business cards, the Ink Business Preferred doesn’t charge foreign transaction fees.
- Trip cancellation and interruption insurance: If you have a trip cut short or canceled altogether, you can get up to $5000 per person and $10 000 per trip reimbursed.
- Roadside dispatch: Chase offers roadside assistance in case you get a flat tire, dead battery, lockout, and more. They don’t pay for the cost of services, but they’ll connect you to the services you need.
- Rental car insurance: If you pay for your business rental car with your Chase card, you’ll get rental insurance to cover the vehicle’s actual cash value.
- Cell phone protection: You’ll get $600 worth of coverage per claim in the case of theft or damage to your cell phone or the phone of an employee on your cell phone plan,
- Purchase protection: Chase will cover your new purchases for 120 days for up to $50 000 ($10 000 per claim) for damage or theft.
- Extended warranty protection: Chase will extend the manufacturer’s warranty on your purchases by an additional year for eligible warranties of three years or less.
- Business monitoring: In addition to analyzing your business spending, you can also monitor your business with Fraud protection, purchase protection, account alerts, and more.
- Free employee cards: You can get employee cards at no additional cost when you open your Ink Business Preferred card. Employee spending helps you earn rewards on your account, and you can set spending limits for individual cards.
The bottom line
If you’re in the market for a business credit card, then the Chase Ink Business Preferred might be right for you. Because of its unique combination of perks, it’s particularly well-suited to businesses that spend a lot of money on travel. It also has plenty of other travel perks that make it even more attractive. And if your business spends at least $5 000 per month, you’ll be eligible for the 100,000-point sign-up bonus, which you’ll be hard-pressed to find elsewhere.
Who is the Chase Ink Business Preferred card for?
Like most rewards credit cards, the Chase Ink Business Preferred is best for those who have high spending in its bonus categories. But this card is especially well-suited for businesses who spend a lot on travel since it combines the high travel rewards points with the higher redemption rate.
First, you’ll earn 3X points on each dollar you spend on travel. You can also redeem your points for 1.25 more when you use them to book travel through Chase Ultimate Rewards. These two perks combine for the potential to earn you thousands of dollars per year in travel rewards. The card is also well-suited to businesses who spend a lot on travel because of the other travel perks it offers, including the no foreign transaction fee and trip cancellation and interruption insurance.
While this card is perfect for certain businesses, it’s not the right card for everyone. If your spending doesn’t typically fall into one of the card’s bonus categories, then you can probably find another card with higher overall rewards and without an annual fee.
Is the Chase Ink Business Preferred worth it?
The Chase Ink Business Preferred can provide excellent value for companies with high spending in those categories that get 3X points.
For businesses that don’t spend much in these categories, the annual fee probably isn’t worth the minimal rewards for other categories.
What credit score do you need to get the Chase Ink Business Preferred?
To qualify for the Chase Ink Business Preferred, you’ll need a credit score that’s at least good or excellent, which generally includes the high 600s and up.
Are there alternatives to the Chase Ink Business Preferred?
The Ink Business Preferred card is an excellent business credit card, but it’s not right for every business. Chase offers several other rewards cards — the Ink Business Cash and Ink Business Unlimited — which are each well-suited to certain types of businesses.
What is the credit limit on the Chase Ink Business Preferred?
When you open a Chase Ink Business Preferred card, you’ll get a credit limit of at least $5000, and usually less than $25 000. If you want a limit of more than $25 000, you can request it, and you’ll go through a more detailed review process.