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Your Best Credit Cards has partnered with CardRatings for our coverage of credit card products. Your Best Credit Cards and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on Your Best Credit Cards are from advertisers and may impact how and where card products appear on the site. Your Best Credit Cards does not include all card companies or all available card offers. Commissions do not affect or prioritize placement within our Card Explorer results and not all cards displayed earn us a commission. The editorial content on this page is not provided by any of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone.

* Suggested credit score ranges are supplied by QuinStreet, not from the issuers, and are guidelines, not a guarantee of approval.

Chase Ink Business Preferred® Credit Card

The Chase Ink Business Preferred® is the cornerstone Chase business card, allowing you to transfer points to Chase Ultimate Rewards airline and hotel transfer partners and earning 3X points per dollar in combined purchases on popular categories like travel and select online advertising purchases (up to $150,000 per year).

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Your Best Credit Cards has partnered with CardRatings for our coverage of credit card products. Your Best Credit Cards and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on Your Best Credit Cards are from advertisers and may impact how and where card products appear on the site. Your Best Credit Cards does not include all card companies or all available card offers. Commissions do not affect or prioritize placement within our Card Explorer results and not all cards displayed earn us a commission. The editorial content on this page is not provided by any of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone.

* Suggested credit score ranges are supplied by QuinStreet, not from the issuers, and are guidelines, not a guarantee of approval.

Chase Ink Business Preferred® Credit Card

The Chase Ink Business Preferred® is the cornerstone Chase business card, allowing you to transfer points to Chase Ultimate Rewards airline and hotel transfer partners and earning 3X points per dollar in combined purchases on popular categories like travel and select online advertising purchases (up to $150,000 per year).

BONUS OFFER

Limited Time Offer: Earn 120,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.

💵 Your Projected Rewards Value
Year 1 tbd
Year 2 tbd

Key facts

The Chase Ink Preferred card has the distinction of offering the highest sign up bonus of any Chase Ultimate Rewards credit card, but that’s not even the reason to carry it…

Annual Fee:

$95

AVG Point Value:

$0.0175 (Learn More)

Min. Credit Score for Approval:

670-739 * Good

Ongoing APR:

21.24%-26.24% Variable

Balance transfer fees

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

Foreign Transaction Fee:

0%

Ultimately, every business should have all three Chase Ink business credit cards, the Chase Ink Business Preferred®, Chase Ink Business Cash® card, and Chase Ink Business Unlimited®.

However, the Chase Ink Preferred is the cornerstone because the points earned from the Ink Cash and Ink Unlimited have an actual cash value or just 1 cent each unless you also have a Chase Ink Preferred to transfer them over to. It’s here in the Chase Ink Business Preferred that you can either redeem your points with Chase Travel for 1.25 cents each or transfer them to Chase’s airline and hotel partners like World of Hyatt where it’s easy to get north of 2 cents per point in value – and sometimes much more.

It also can earn you some serious points from spend on your business expenses.

Get a 80% transfer bonus when you transfer Chase Ultimate Rewards to IHG One Rewards.

Get 1,800 IHG Rewards Points for every 1,000 Chase Ultimate Rewards points when you transfer by July 31st, 2024.

Do some sample searches before considering this bonus as we value an IHG point around 0.4 cents and a Chase point around 1.75 cents making the math here hard to justify. it’s a bit better if you have an IHG Premier or IHG Business Premier credit card which gives the 4th night free on awards.

Offer expires on Jul 31, 2024
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Get a 20% transfer bonus when you transfer Chase Ultimate Rewards to Air Canada Aeroplan.

No fuel surcharges; just a $39CAD booking fee. Lap infant just $25CAD. Can book Etihad and Emirates as well as Star Alliance flights. Add a stopover for just 5,000 miles!

Offer expires on Jul 31, 2024
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Reward multipliers

  • 3X bonus points per dollar in combined purchases in the following select business categories: Travel (includes airfare, hotels, and car rentals but excludes local transit), internet, cable, and phone services, search engine/social media and shipping purchases, up to a combined maximum of $150,000 per account anniversary year.
  • 1X bonus points per dollar spent on all other eligible purchases
  • 5X bonus points per dollar on Lyft rides through May 2025

Earns bonus points for spend in the following bonus categories:

5x
Lyft

Estimated Rewards Value: 8.75%

3X bonus points per dollar in combined purchases in the following select business categories: Travel (includes airfare, hotels, and car rentals but excludes local transit), internet, cable, and phone services, search engine/social media and shipping purchases, up to a combined maximum of $150,000 per account anniversary year.

3x
Airfare

Estimated Rewards Value: 5.25%

3X bonus points per dollar in combined purchases in the following select business categories: Travel (includes airfare, hotels, and car rentals but excludes local transit), internet, cable, and phone services, search engine/social media and shipping purchases, up to a combined maximum of $150,000 per account anniversary year.

3x
Transit

Estimated Rewards Value: 5.25%

3X bonus points per dollar in combined purchases in the following select business categories: Travel (includes airfare, hotels, and car rentals but excludes local transit), internet, cable, and phone services, search engine/social media and shipping purchases, up to a combined maximum of $150,000 per account anniversary year.

3x
Car Rentals

Estimated Rewards Value: 5.25%

3X bonus points per dollar in combined purchases in the following select business categories: Travel (includes airfare, hotels, and car rentals but excludes local transit), internet, cable, and phone services, search engine/social media and shipping purchases, up to a combined maximum of $150,000 per account anniversary year.

3x
Cellular Phone Service

Estimated Rewards Value: 5.25%

3X bonus points per dollar in combined purchases in the following select business categories: Travel (includes airfare, hotels, and car rentals but excludes local transit), internet, cable, and phone services, search engine/social media and shipping purchases, up to a combined maximum of $150,000 per account anniversary year.

3x
Hotels

Estimated Rewards Value: 5.25%

3X bonus points per dollar in combined purchases in the following select business categories: Travel (includes airfare, hotels, and car rentals but excludes local transit), internet, cable, and phone services, search engine/social media and shipping purchases, up to a combined maximum of $150,000 per account anniversary year.

3x
Advertising on Search Engines and Social Media

Estimated Rewards Value: 5.25%

3X bonus points per dollar in combined purchases in the following select business categories: Travel (includes airfare, hotels, and car rentals but excludes local transit), internet, cable, and phone services, search engine/social media and shipping purchases, up to a combined maximum of $150,000 per account anniversary year.

3x
Shipping

Estimated Rewards Value: 5.25%

3X bonus points per dollar in combined purchases in the following select business categories: Travel (includes airfare, hotels, and car rentals but excludes local transit), internet, cable, and phone services, search engine/social media and shipping purchases, up to a combined maximum of $150,000 per account anniversary year.

3x
Cable / Internet / VOIP Phone

Estimated Rewards Value: 5.25%

3X bonus points per dollar in combined purchases in the following select business categories: Travel (includes airfare, hotels, and car rentals but excludes local transit), internet, cable, and phone services, search engine/social media and shipping purchases, up to a combined maximum of $150,000 per account anniversary year.

3x
Cruises

Estimated Rewards Value: 5.25%

1x
Everything Else

Estimated Rewards Value: 1.75%

ALREADY HAVE THIS CARD?

Pair another card and boost your rewards

In some cases, adding cards from the same points system will increase your rewards by unlocking a higher point value based on the ability to transfer points to air or hotel partners. In other cases, the cards simply work together to earn more points with one bank or diversify your bonus category rewards across banks.

Key features

1

Earns Transferable Points

When you pay with your Chase Ink Business Preferred credit card, you’ll earn extremely valuable Chase Ultimate Rewards points.

How valuable? We value them at 1.75 cents each, based on a variety of factors that include the range of airline and hotel transfer partners and average available redemptions among all of them. Chase’s Ultimate Rewards points are, in our opinion, the most valuable of the big banks owing to their partnership of World of Hyatt.

Hyatt is the only major North American hotel chain that has kept fixed award charts. This means you can plan to save up for trips the old-fashioned way – knowing how many points you need. It’s also extremely easy to get more than 2 cents per Hyatt point in value and Chase points transfer 1:1.

When you book a World of Hyatt award stay, you not only save all the taxes and fees, but resort fees are waived as well – and that can really add up!

Better yet, Hyatt has a huge range of luxury and all-inclusive hotels to choose from, all available to be paid for with points you can transfer from this card.

Of course, Hyatt is far from the only transfer partner. You’ll certainly recognize United Airlines as a popular transfer partner, as well as other popular programs like British Airways Avios, Air Canada’s Aeroplan program, and Singapore Airlines’ KrisFlyer.

You can see the full list of Chase Ultimate Rewards air and hotel transfer partners below:

Chase Ultimate Rewards Transfer Partners
Transfer RatioExpected Transfer Time *
Aer Lingus Avios1:1Instant
Air Canada Aeroplan1:1Instant
Air France Flying Blue1:1Instant
British Airways Avios1:1Instant
Emirates1:1Instant
Iberia Avios1:1Instant
JetBlue1:1Instant
Singapore Airlines KrisFlyer1:1~ 1 - 2 days
Southwest Airlines1:1Instant
United MileagePlus1:1Instant
Virgin Atlantic Flying Club1:1Instant
Hyatt1:1Instant
Marriott Bonvoy1:1~ 1-2 days
IHG Rewards Club1:1~ 24 hours

If you prefer to keep things simple, you can redeem your points via Chase Travel to purchase travel directly. In this case, each point is worth 1.25 cents each. For example, 10,000 points = $125 in travel.

And if you really don’t want to use your points for travel, you can absolutely redeem for cash or gift cards.

Just know that in that case your points will be worth just 1 cent each, rather than our projected 1.75 cent per point value that is based on transferring points to Ultimate Rewards airline and hotel partners.

 

2

Primary Car Rental CDW Waiver

One of the single biggest benefits that comes with this card is one that you hope you never have to use. Chase Ink Preferred, like many of the Chase credit cards, comes with primary rental car insurance when you book for business purposes and put the entire rental cost on your Ink card.

That means that you can decline the expensive collision insurance that your rental car company offers and, if there is damage or theft, Chase’s insurance will cover you on most rentals without involving your personal insurance. That could save you on future premiums.

Note: The list of credit cards that offer primary rental car insurance is extremely limited, so take advantage of this one.

3

Extended Warranty

For a manufacturer’s warranty of 3 years or less, Chase will add an additional year.

4

Purchase Protection

Chase covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account when you charge it to your Chase Ink Preferred.

5

Trip Protections

Trip cancellation/interruption insurance, up to $5,000, for non-refundable passenger fares, hotels and tours. Contact Chase for details on terms, conditions, and restrictions.

6

Cell Phone Protection

The Chase Ink Business Preferred covers up to $1,000 per incident for cell phone protection. The insurance covers you and your listed employees on the cell phone bill that you pay with your Chase Ink Business Preferred.

You can make up to 3 claims per year with a $100 deductible.

This is the only card of all the Chase Ink Business credit cards that has this benefit.

 

7

Roadside Assistance

Have a roadside emergency? Just all 1-800-847-2869 anytime to dispatch the help you need – anything from a tow or jumpstart to a tire change, lockout service, winching or gas delivery. Roadside service fees will be provided when you call and will be billed to your card.

8

Does Not Report Credit Line to Personal Credit Profile

As a business credit card, the Ink Preferred will not report the open account or statement balances to your personal credit.

Note that they will still do a “hard inquiry” on your personal credit to determine credit-worthiness and they will also report to your personal credit file if your account becomes delinquent. You are jointly responsible with your business for all charges.

We can also show you all credit cards that don’t report to your personal credit profile as long as your account is in good standing.

9

No Foreign Transaction Fees

Feel free to pay for goods abroad with the Chase Ink Business Preferred card and you won’t have to worry about foreign transaction fees.

10

No Fees for Authorized Users

If you want to add employee cards to rack up more points to your master account, you can do so with no additional fees.

Earn more rewards by combining credit cards

Chase Ink Business Preferred® Credit Card
? Best Combo
See how much more you'll earn in rewards when you combine these two cards.
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Pros & cons

  • 3X points per dollar for combined purchases travel, advertising on social media sites, phone services and more - up to $150,000 per account anniversary year can mean huge points earnings
  • Earns fully transferable Chase Ultimate Rewards points
  • Travel protections, primary car rental CDW, and cell phone protections
  • $95 annual fee
  • The 3X bonus categories have a cap of $150,000 on combined purchases, then the earn rate drops to 1X. It also earns 1 point per dollar on other eligible purchases.
  • No 0% intro APR offers

Chase Ink Business Preferred® Credit Card

Learn How to Apply

Our review

The Chase Ink Business Preferred credit card is a staple credit card for any business owner than understands the power of Chase Ultimate Rewards, one of my favorite rewards currencies (See the feature entitled “Earns Transferable Points” above for more on why.)

The Ink Preferred has two distinctions among the Chase Ink business credit card lineup with also includes the Chase Ink Business Unlimited® and Chase Ink Business Cash®.

1) While those cards have no annual fee, they also do not have the power, on their own, to transfer points to Chase’s airline and hotel partners – and that is where you get the most value. The Chase Ink Preferred, with its small annual fee, gives it the distinction of being able to transfer the points to partners like World of Hyatt.

So, for instance, you can earn 5X on office supply stores with the Ink Cash and 1.5X on spend categories that don’t otherwise have a bonus multiplier and then combine them all to your Chase Ink Preferred. In addition to being able to transfer to air and hotel partner programs, you also have the option to simply book travel on the Chase Travel site with each point worth 1.25 cents. Comparatively, the Ink Cash and Ink Unlimited would have points worth just 1 cent there – unless you also had an Ink Preferred to combine the points to.

2) The Ink Business Preferred has the highest bonus offer of any card, with 100,000 bonus points on offer when you meet the minimum spend in the allotted time from account opening. (See current offer above in “Key Facts.”)

But beyond that, the Chase Ink Business Preferred is a super powerful credit card for small business owners that spend a lot on select business categories like travel, internet, cable, and phone services, search engines/social media and shipping purchases, where you will earn 3X Ultimate Rewards points per dollar spent – up to a combined maximum of $150,000 per year. (You would earn 1 point per dollar over that limit.)

phone protection chase ink business preferred credit card

That’s some amazing earning power! If you max that out in a year, you are earning 600,000 points which we would value (at 1.75 cents a point) as worth over $10,000 in rewards value. Like I said – it’s a powerhouse of a card all on its own!

Even if you had no interest in travel and treated these points as cash back (which I certainly don’t think is the best way to use these points!), you are still earning 3% cash back on this spend.

And then there’s the benefits. This card absolutely rocks the benefits.

My favorite benefit is its included primary rental car insurance when you book for business purposes, put the entire rental cost on your Ink card and decline the rental company’s collision insurance. That means that you can decline the expensive collision insurance that your rental car company offers and, if there is damage or theft, Chase’s insurance will cover you on most rentals without involving your personal insurance. That could save you on future premiums.

Note: The list of credit cards that offer primary rental car insurance is extremely limited, so take advantage of this one.

But that’s far from the only benefit worth mentioning. Other notable card benefits include:

  • Trip cancellation/interruption insurance, up to $5,000, for non-refundable passenger fares, hotels and tours.
  • Up to $1,000 per incident for cell phone protection. The insurance covers you and your listed employees on the cell phone bill, when you pay your monthly cell phone bill with your Chase Ink Business card. You can make up to 3 claims per year with a $100 deductible.
  • Extended warranty. For a manufacturer’s warranty of 3 years or less, Chase will add an additional year.
  • Purchase Protection. Chase covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
  • No foreign transaction fees. Feel free to pay for goods abroad with the Chase Ink Business Preferred card and you won’t have to worry about foreign transaction fees.
  • Of course, it comes with expected fraud protection and real time fraud monitoring with zero liability for you if you are a victim of fraud.

Note: You will only be approved for a Chase business credit card if you have applied for fewer than 5 personal credit cards within the last 24 months from any issuer. (Business credit cards do not count against the total, except for Capital One and Discover, but are subject to the policy).

Lastly, you will only be approved for (at most) one Chase business card every 30 days so please do not apply for two at once.

If you have applied for a Chase credit card and don’t get an instant approval, you may want to phone the Chase reconsideration line.

Frequently asked questions

1

What Qualifies as a Business?

Check out our category of business credit cards to read more about on what qualifies as a business and how you can apply even if you don’t *think* you have a business. You may be surprised to find out that you indeed already have one!

2

What Credit Score do I Need to get the Chase Ink Business Preferred Credit Card?

You’ll need very good credit to get this card, with a floor of about a 760 FICO score.

3

What Credit Bureau does Chase Pull from?

It could be any of the three major bureaus but, in general, you should expect to get a “pull” from Experian.

4

Should I Pay My Bill in Full Every Month?

YES! There’s a reason that Chase can afford such great rewards with the card, and that’s because of the high interest rates they charge on balances that get carried over from month to month. You don’t want to be the one paying for everyone else’s rewards!

(For the sake of clarity, you indeed can carry a balance on this card. Just watch out for those high APRs as mentioned in the Key Facts on top of this page.)

5

Does the Chase Ink Business Preferred Card Give Airport Lounge Access?

No, it doesn’t. No Chase business card does. You would need to look at the (personal) Chase Sapphire Reserve® for a Chase card with airport lounge access.

6

Is there a Limit on the Number of Chase Ultimate Rewards Points that I Can Earn?

While your expenses can generate some pretty significant rewards, be mindful of the cap across all 3X bonus point categories of $150,000 in spend. You’ll earn 1X thereafter and on spend in other categories. That’s why it’s great to pair this card with the Chase Ink Business Unlimited for 1.5X points per dollar on that other spend and an Ink Cash for 5X at office supply stores.

7

Do Chase Ultimate Rewards Points Expire?

Your points will be active as long as you have the card open. If you plan to close the card, either spend your points or move them to another Chase card that earns Ultimate Rewards points.

8

Is the $150,000 combined limit on the Ink Preferred 3X bonus categories based on a calendar year or from when you opened the account?

It’s based on your account anniversary year (meaning from your date of card opening, each year).

9

Can I Add Employee Cards?

Yes, and there is no charge to add additional cards for employees.

10

What If I Don't Want to Pay an Annual Fee?

If you don’t want to get a card with a fee, consider one of the other Chase Ink business credit cards that we suggested “pairing” with the Ink Business Preferred card. Before you rule out paying an annual fee, though, be sure to look at the benefits that you will receive. Annual fees are quite often well worth it.

11

Is it hard to get the Ink Business Preferred credit card?

It’s not that hard as long as you are under the Chase 5/24 rule (you haven’t opened 5 or more personal credit cards in the last 24 months) and have a credit score of around 670 or better.

12

Is it worth getting the Ink Business Preferred credit card?

Absolutely! The Chase Ink Business Preferred card is one of the best business credit cards and the benefits speak for themselves. Not only do you get a huge sign-up bonus for meeting the minimum spending requirements but there are a ton of bonus multipliers, huge redemption opportunities and some great perks, including primary car rental insurance.

13

How do I earn points with the Ink Business Preferred credit card?

You will earn 3X Ultimate Rewards points per dollar spent – up to a combined maximum of $150,000 per year – on travel, internet, cable, and phone services, search engines/social media sites and shipping, (You earn 1 point per dollar over that limit and on other purchases.)

14

Is there a better credit card than the Ink Business Preferred credit card?

While totally subjective, we think that this is a card that should be in every small business owner’s arsenal. You’ll want other credit cards as well, though, for bonus categories not covered by this card and for benefits like airport lounge access that the Ink Preferred doesn’t offer.

15

Does the Ink Business Preferred credit card charge foreign transaction fees?

No, there are no foreign transaction fees.

16

Does the Ink Business Preferred credit card have car rental coverage?

It has primary CDW coverage when you are renting for business purposes.

Terms apply so be sure to contact Chase before renting to make sure the vehicle you are renting is covered.

17

Does the Ink Business Preferred credit card come with any Elite Status?

Sadly, despite being a travel oriented card, it does not confer any airline, hotel, or car rental elite statuses.

18

Does the Ink Business Preferred credit card offer extended warranty?

Yes. For a manufacturer’s warranty of 3 years or less, Chase will add an additional year.

19

Does the Ink Business Preferred offer purchase protection?

Yes, Chase covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.

20

Does the Ink Business Preferred offer trip protections?

It offers trip cancellation/interruption insurance, up to $5,000, for non-refundable passenger fares, hotels and tours.

21

What credit score do I need to get an Ink Business Preferred?

A 670 FICO or better is the generally accepted expectation.

22

What can I do with the points earned for spending on the Ink Preferred card?

23

Does the Ink Business Preferred Card have Cell Phone Protection?

Yes! The Ink Business Preferred Card covers up to $1,000 per incident for cell phone protection. The insurance covers you and your listed employees on the cell phone bill that you pay with your Chase Ink Business card. You can make up to 3 claims per year with a $100 deductible.

24

How does the Chase Ink Business Preferred compare with the Chase Ink Business Cash?

25

How does the Chase Ink Business Preferred compare with the Chase Ink Business Unlimited?

26

How does the Chase Ink Business Preferred compare with the Capital One Spark Miles for Business Card?

27

How does the Chase Ink Business Preferred compare with the American Express® Business Gold Card?

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