Chase Ink Business Preferred® Credit Card
Bonus Offer: Get 100,000 Ultimate Rewards points as a bonus when you spend $15,000 in your first 3 months.
Bonus Offer: Get 100,000 Ultimate Rewards points as a bonus when you spend $15,000 in your first 3 months.
★ This card earns bonus points for spend in the following bonus categories:
The Chase Ink Preferred is perfect for small business owners with a lot of spend in the travel, advertising, and shipping categories
Card Features and Benefits:
- 5X points on Lyft rides
- 3X points in the following categories: Airfare, cable/internet, car rentals, cellular service, hotels, other travel, search engine/social media and shipping, up to a combined maximum of $150,000 per year.
- 1X points per dollar spent on all other purchases
- 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 that you pay 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.
- Aer Lingus Avios
- Air Canada Aeroplan
- British Airways Executive Club
- Emirates Skywards
- Air France/KLM Flying Blue
- Iberia Plus Avios
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards
- United MileagePlus
- Virgin Atlantic Flying club
- IHG Rewards Club
- Marriott Bonvoy
- World of Hyatt
(Before we begin: Not sure if you qualify for a business credit card? Read this article about what qualifies as a business. It's more than you think.)
What Makes the Chase Ink Business Preferred® Credit Card so Strong?
For business cards, Chase is a particularly generous credit card issuer, and the Chase Ink Business Preferred® Credit Card is one of the rare cards that offers all four characteristics that we look for in a credit card: a great sign-up bonus, strong options for both earning and spending points, and outstanding benefits as a cardholder. The 100,000 point sign-up bonus upon account opening and meeting the minimum spending requirement is worth at least $1,250 or can be transferred to one of 11 airline or 3 hotel partners. It offers triple points in several categories and has valuable perks such as primary rental car insurance.
The Chase Ink Preferred credit card comes with a strong welcome bonus of 100,000 Chase Ultimate Rewards bonus points when you spend $15,000 in combined purchases in your first 3 months as a cardholder.
Based on the redemption options, we view Chase Ultimate Rewards points as worth 1.75 cents each. At a minimum, however, the points are worth at least $1,250 in actual cash value when you use them to book through the Chase travel portal. That's one of the biggest sign-up bonuses that we've ever seen, even after accounting for the $95 annual fee.
As noted above, the card has a $95 annual fee, which is not waived the first year. Still, with a $1,250++ value sign-up bonus, it's hard to complain about the annual fee.
Chase Ink Business Preferred Credit Card Earn Rate
The card earns bonus points in more select business categories than we can count. In particular...
Chase Ink Business Preferred Review and Benefits
Chase Ink Preferred comes with some great perks, in addition to the opportunity to earn and redeem Ultimate Rewards points.
Primary Rental Car Insurance on Chase Ink Business Preferred
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.
Other Chase Ink Business Preferred Credit Card Benefits
Chase Ultimate Rewards Transfer Partners
Here's a chart of airline and hotel partners that you can transfer your Chase Ultimate Rewards points to:
Best Uses for Chase Ultimate Rewards Points
Chase Ultimate Rewards points can be used in many different ways, but the single best use of the points is to convert them to airline or hotel points. Here are a few examples.
Singapore Airlines Suites for Long Trips:
Singapore Airlines is famous for its outstanding service and there's no better way to experience it than to fly in one of their suites. Looking to use points to fly from the US to Singapore? It's doable with just over 130,000 Singapore KrisFlyer points. What about if you want to experience the suites but are "only" flying to Europe? No problem. Singapore has a flight from New York to Frankfurt that you can book in the suites for a mere 86,000 points.
Couldn't you just book these flights with a Star Alliance partner like United? Nope, not in this case! Singapore places severe restrictions on what partners can offer in premium classes of service, meaning that you'll need the operating carrier's own reward currency. - Singapore KrisFlyer in this case
British Airways Avios for Short Trips:
British Airways Avios are an excellent option for short-haul flights on Oneworld partners. Because British Airways bases the cost of the award on flight distance, instead of geographic zones, you can get a great deal if you are taking a short flight that would be expensive if paid for with cash.
They're best if you're using them on BA outside the United States, where one-way flights are as little as 4,000 Avios. Partners aren't bad either, starting at 6,000 Avios. There is a bit of a penalty in the US, where the minimum for one-way flights are 7,500 (which, in the case of US flights, would require saver award space on American Airlines or Alaska Airlines).
How about a Place to Stay? Using Hyatt for Maximum Value
In general, the best dollar-per-point ratio comes from converting Chase Ultimate Rewards points to airline miles for business class flights, but there are amazing hotel deals to be found as well. Hyatt is a great choice, particularly when looking for luxury properties.
For example, a night at Hyatt's Alila Ventana Big Sur could run you $2,500 per night, and that's before taxes. On the other hand, if you're using World of Hyatt points, a room will run you only 30,000 points for a standard room or 48,000 for a standard suite. Since Chase Ultimate Rewards points convert to World of Hyatt points at a 1:1 rate, each of those Chase points will be worth over 8 cents!
Other Chase Ultimate Rewards Points Redemption Options
"Pretty Good" Option: Redeem for Travel through Chase or Pay Yourself Back
If you're looking to book travel and can't find a reward you want by converting Chase Ultimate Rewards points, consider booking through the Chase Ultimate Rewards travel portal. They'll give you a 25% bonus to do so, valuing each point at 1.25 cents instead of the standard penny per point.
Chase also offers an option called "Pay Yourself Back." It gives a list of several categories and, if you use your Chase Ink Business Preferred credit card to make a purchase in one of the listed categories at the Chase Ultimate Rewards portal, you can redeem points at the rate of 1.25 cents per point to pay off those purchase. Currently, Pay Yourself Back on this card is limited to charitable contributions, but if you have a Sapphire Reserve card, you can transfer the points to your Reserve and spend on dining via Pay Yourself Back until March 31, 2022.
"Okay" Option: Redeem for Cash
The simplest thing to do with your points is simply redeem them for cash. Of course, your value won't be as high if you don't put in a little effort. Redeeming points for cash will get you a penny per point. That's not a terrible exchange, since it's equivalent to most other credit cards, but it's not the best use, either.
The Worst Option: Shopping with Points
Want to use your Chase Ultimate Rewards points to shop through Amazon? That's a really bad idea. You can do so, but you'll only get 0.8 cents per point in value by doing so. It would be a better value to use your card to buy something and then redeem your points at a penny each to pay for it.
Cards to Pair with the Chase Ink Business Preferred Credit Card
Why get rewards from just one business card when you can get a second? There are a couple of great options from Chase.
First, consider the Chase Ink Business Unlimited card. It's one of the simplest options in the Chase family. It comes with a sign-up bonus of $900 after you spend $6,000 in the first three months and pays you a flat 1.5% cash back on all purchases. Although the signup bonus says $900, it's actually awarded as 90,000 Ultimate Rewards points which can become fully transferable when you also hold the Chase Ink Business Preferred and combine your points.
You'll also want to consider the Chase Ink Business Cash card. It also comes with a $900 sign-up bonus after you spend $6,000 in the first three months and has a number of bonus categories in which you can earn as much as 5 points per dollar spent. You'll receive 5X points for the first $25,000 in spending at office supply stores, internet, phone and cable services each account anniversary year. You'll also receive 2X on all purchases at restaurants and gas stations.
Again, although the signup bonus says $900, it's actually awarded as 90,000 Ultimate Rewards points which can become fully transferable when you also hold the Chase Ink Business Preferred and combine your points.
Frequently Asked Questions about the Chase Ink Business Preferred Credit Card
What Qualifies as a Business?
Read this short piece on what qualifies as a business. You may be surprised to find out that you already have one!
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 720 FICO score.
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.
Do I Need to 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!
Does the Chase Ink Business Preferred Card Give Airport Lounge Access?
No, it doesn't.
Is there a Limit on the Number of Chase Ultimate Rewards Points that I Can Earn?
Yes, while your expenses can generate some pretty significant rewards, be mindful of the cap across all 3X categories of $150,000 in spend.
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.
Can I Add Employee Cards?
Yes, there is no charge to add additional cards for employees.
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 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.
Conclusion: Is the Chase Ink Business Preferred Credit Card Worth It?
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.
The welcome bonus alone is worth the price of the card. You'll earn 100,000 Chase Ultimate Rewards points when you spend $15,000 in the first three months, which is worth a minimum of $1,250 if you spend the points through the Chase Ultimate Rewards travel portal. But if you transfer the points to an airline or hotel partner, you could end up with much, much more.
More Advice from MilesTalk:
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). Learn more about the 5/24 rule here.
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.
Also See: Credit Cards That Earn Chase Ultimate Rewards Points, all Chase Ink credit cards, as well as all Chase credit cards.