5 reasons to get the Chase Ink Business Preferred Credit Card
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The Ink Business Preferred Credit Card quickly became one of the most popular small-business credit cards after its launch in October 2016. The reasons are compelling: a strong sign-up bonus, the ability to earn triple points in many categories, multiple options for redeeming those points and useful benefits such as cellphone protection and travel insurance.
Best of all, the annual fee is only $95 — a bargain, especially when you compare it to the American Express® Business Gold Card, which costs $295 annually (see rates and fees), and The Business Platinum Card® from American Express, which has an annual fee of $695 (see rates and fees).
Here are the top reasons why the Chase Ink Business Preferred card may be worth it for you.
Impressive sign-up bonus
With the Ink Business Preferred, you’ll get 100,000 Chase Ultimate Rewards points after you spend $15,000 in the first three months. Ultimate Rewards points are among the most valuable points currencies around, and the bonus is worth $2,000, according to TPG’s most recent valuations.
While $15,000 is certainly a high threshold to reach as an individual, many small businesses can easily hit that bonus. At the end of the day, you know your spending patterns better than anyone and can assess whether the sign-up spending requirement is achievable.
Those 100,000 Chase Ultimate Rewards points can be used on a lot of amazing redemptions. For example, you can transfer points to Virgin Atlantic Flying Club to book Delta One business-class suites to Europe round-trip for yourself and so much more. The sky is the limit with this bonus … literally.
Useful bonus categories for small businesses
Not only are Chase Ultimate Rewards points one of the most valuable currencies out there, but they are also easy to accumulate thanks to the multiple bonus categories available with the Ink Business Preferred. You’ll earn 3 points per dollar on the first $150,000 in combined purchases you make by each account anniversary in the following categories:
- Internet, cable and phone services.
- Advertising on search engines and social media sites.
All other purchases earn 1 point per dollar.
If you maximize your bonus-earning capabilities, you can earn up to 450,000 Chase Ultimate Rewards points each year!
Amazing redemption potential
This is another area where the Ink Business Preferred really shines. Chase Ultimate Rewards points transfer to 11 frequent flyer programs:
- Aer Lingus AerClub.
- Air Canada Aeroplan.
- British Airways Executive Club.
- Emirates Skywards.
- Flying Blue (Air France and KLM).
- Iberia Plus.
- JetBlue TrueBlue.
- Singapore Airlines KrisFlyer.
- Southwest Airlines Rapid Rewards.
- United MileagePlus.
- Virgin Atlantic Flying Club.
When you take alliance partners into account, this gives you an incredibly wide range of airline options. British Airways Avios, for example, give you access to flights from Oneworld alliance members such as American Airlines, Finnair and Japan Airlines.
Additionally, your points transfer to three hotel programs:
Points transfer to all partners at a 1:1 ratio, and most transactions are instant. You can also choose to redeem your points for 1.25 cents each (or 1.5 cents apiece if you also have the Chase Sapphire Reserve and combine your points with that account) through the Chase Ultimate Rewards travel portal. Plus, you’ll accrue frequent flyer miles on any flight bookings made through Chase, since they’re treated as paid tickets.
Cellphone, travel and purchase protections
How many times have you dropped, damaged or misplaced your cellphone? The Ink Business Preferred is one of many credit cards that offer cellphone protection to help you in this very situation. You and your employees listed on your phone bill are covered for up to $1,000 in theft or damages per claim, provided the number is listed on your monthly bill and you pay your bill with your card. There’s a limit of three claims per 12-month period, with a $100 deductible per claim.
The Ink Business Preferred also offers a host of travel benefits for the road warrior:
- Primary car rental insurance: If you decline the collision damage waiver at the rental company counter and pay for the rental with your Ink Business Preferred card, you’re covered for physical damage and theft, towing and loss-of-use charges up to the full value of the vehicle. This is primary coverage, which means you don’t need to file a claim with your personal insurance company. Liability (damage to other persons or vehicles) is not covered. Rentals must be for business purposes within the U.S., though personal rentals are covered for international trips.
- Trip delay and cancellation insurance: If your trip is canceled due to a covered condition (such as illness or severe weather), you can be compensated up to $5,000 per person ($10,000 per trip) for prepaid expenses such as airfare or hotels. For a delay of 12 hours or more, you can be reimbursed up to $500 for your hotel room, meals and transportation (documentation from the airline is required to verify the flight delay). In both cases, you’ll need to pay with your card and keep receipts.
- Lost luggage reimbursement: When charging your fare to the card, each traveler is covered up to $3,000 for the loss of either checked or carry-on baggage. Reimbursement for items such as jewelry, watches, cameras and electronic equipment is limited to $500 per person.
- Baggage delay insurance: If your baggage is delayed for more than six hours, this benefit provides up to $100 per day for five days for the purchase of essential items.
- Travel accident insurance: You and your travel companions are covered up to $500,000 for accidental death or dismemberment while traveling on a common carrier.
- Purchase protection: If you buy an item that is stolen or damaged within 120 days, you’re covered up to $10,000 per claim, with a limit of $50,000 per account. At least some part of the purchase price must be charged to the card. This benefit can be extremely important to a small-business owner purchasing office furniture or electronic equipment.
Pool your points with other Chase credit cards
Chase has five products that are essentially cash-back cards: The Chase Freedom (no longer open to new applicants), Chase Freedom Unlimited, Chase Freedom Flex, Ink Business Unlimited Credit Card and Ink Business Cash Credit Card. However, those cards also earn points that can be converted to Ultimate Rewards points, provided you have a card that earns Ultimate Rewards points, such as the Ink Business Preferred Credit Card. Having the Ink Business Preferred enables you to enhance the value of other Chase cards in your wallet.
The information for the Chase Freedom has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Additional benefits to consider
Along with the perks outlined above, the Ink Business Preferred offers other important benefits:
- Employee cards at no extra cost.
- No foreign transaction fees for purchases made outside the U.S.
- Zero liability protection (you won’t be held responsible for unauthorized charges).
- Fraud protection with real-time account monitoring.
- Extended warranty protection (adds a year on eligible U.S. manufacturer’s warranties of three years or less).
For a small-business card, the Ink Business Preferred Credit Card offers an almost unbeatable combination: a strong sign-up bonus, generous opportunities to earn points, the ability to transfer points to 14 travel partners and a comprehensive collection of travel protections.
If you’re considering getting the Ink Business Preferred, remember that it falls under Chase’s 5/24 rule. That means if you’ve opened five or more credit card accounts in the past two years, you’ll probably be declined regardless of your creditworthiness. To increase your odds of acceptance, make sure you apply for this card (and other Chase credit cards) before cards from other issuers.
Additional reporting by Madison Blancaflor and Christina Ly.
Featured photo by Zach Griff/The Points Guy.
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Earn 90,000 Bonus Miles after you spend $3,000 in purchases on your new card in your first three months of card membership.
With Status Boost™, earn 10,000 Medallion Qualification Miles (MQMs) after you spend $25,000 in purchases on your Card in a calendar year, up to two times per year getting you closer to Medallion Status. Earn 3X Miles on Delta purchases and purchases made directly with hotels, 2X Miles at restaurants and at U.S. supermarkets and earn 1X Mile on all other eligible purchases. Terms Apply.
- Earn 90,000 Bonus Miles after you spend $3,000 in purchases on your new Card in your first 3 months.
- Earn up to 20,000 Medallion® Qualification Miles (MQMs) with Status Boost® per year. After you spend $25,000 in purchases on your Card in a calendar year, you can earn 10,000 MQMs up to two times per year, getting you closer to Medallion® Status. MQMs are used to determine Medallion® Status and are different than miles you earn toward flights.
- Earn 3X Miles on Delta purchases and purchases made directly with hotels.
- Earn 2X Miles at restaurants worldwide, including takeout and delivery in the U.S. and at U.S. supermarkets.
- Earn 1X Miles on all other eligible purchases.
- Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. Payment of the government imposed taxes and fees of no more than $75 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
- Enjoy your first checked bag free on Delta flights.
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- $250 Annual Fee.
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