Bottom line

The Chase Ink Business Preferred card offers exceptional rewards and benefits tailored for business owners, making it a valuable tool for maximizing spending and earning points towards travel and other business expenses.

Star FUNDSamentally Rating

At a Glance

	Ink Business Preferred Card
Annual Fee	– $95
Sign up bonus	– Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months after account opening
Ongoing rewards	– 1x-3x Points
Foreign transaction fee	– None
APR	– 21.49% – 28.49% based on your creditworthiness and other factors. These APRs will vary with the market based on the Prime Rate
Value of points redeemed	– 1 point = 0.0125 cents
Balance transfer fee	– Either $5 or 5% of the amount of each transfer, whichever is greater.
Additional benefits	– Employee Cards: You can get employee cards at no additional cost and set individual spending limits for each card. – Trip Cancellation/Interruption Insurance: If your trip is canceled or cut short by sickness, severe weather, or other covered situations, you can be reimbursed up to $5,000 per person and $10,000 per trip for your pre-paid, non-refundable travel expenses.

Detailed overview

The Ink Business Preferred® Credit Card by Chase stands out among the top choices for small business credit cards, boasting a generous sign-up bonus, lucrative rewards program tailored to common business expenses, and a range of valuable perks. For entrepreneurs who frequently travel for business or whose spending aligns with the card’s bonus categories, the Ink Business Preferred® Credit Card can easily justify its $95 annual fee. Here are some key details about the Ink Business Preferred® Credit Card:

Card type: Designed for small businesses.

Annual fee: $95.

Sign-up bonus: Earn 100k bonus points after spending $8,000 on purchases in the first 3 months from account opening. These points can be redeemed for $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®.

Rewards:

• Earn 3 Chase Ultimate Rewards® points per $1 spent on the first $150,000 spent on qualifying travel and business categories each account anniversary year, and 1 point per $1 spent on all other purchases. Points can be redeemed for cash, gift cards, travel, and eligible products or services. Notably, when redeemed for travel through Chase Ultimate Rewards®, points are valued at 1.25 cents each.

APR: The ongoing APR ranges from 21.24% to 26.24% Variable APR.

Foreign transaction fee: None.

Additional perks: Enjoy complimentary employee cards, personalized account alerts, and benefits such as purchase protection, extended warranty protection, cell phone protection, trip cancellation and interruption insurance, roadside dispatch, and an auto rental collision damage waiver.

Benefits and perks

Sign up bonus

Receive a substantial reward of 100k bonus points after reaching a spending threshold of $8,000 within the initial 3 months of opening your account. These points equate to $1,000 in cash back or $1,250 toward travel when redeemed via Chase Ultimate Rewards®. While this bonus entails a significant minimum spending requirement, it stands as one of the most lucrative offers available across all card categories. If your typical expenditure aligns with this threshold, the bonus could potentially cover the expenses of an entire business trip. Alternatively, view it as a means to offset the card’s annual fee for more than a decade.

Big rewards in spending categories

With the Ink Business Preferred® Credit Card, you earn 1 Chase Ultimate Rewards® point for every dollar spent. However, this rate increases significantly to 3 points per dollar for the initial $150,000 spent across various categories including travel, shipping, internet, cable, and telephone services, as well as advertising purchases with social media sites and search engines. Unlike some other business credit cards that impose lower spending caps or restrict high rewards rates to just one category, this card offers top-tier rewards across a diverse range of commonly utilized categories, enhancing your earning potential in areas essential to your business operations.

Hotel and airline point transfers

You possess the flexibility to transfer points on a one-to-one basis to a selection of a dozen renowned airline and hotel loyalty programs. Your redemption strategy and choice of partner can significantly impact the value you derive from these points, potentially offering exceptional value through transfers. Among the partners available for point transfers are:

• Aer Lingus AerClub.
• Air France/KLM Flying Blue.
• British Airways Executive Club.
• Emirates Skywards.
• Iberia Plus.
• JetBlue TrueBlue.
• Singapore Airlines KrisFlyer.
• Southwest Airlines Rapid Rewards.
• United MileagePlus.
• Virgin Atlantic Flying Club.
• IHG Rewards Club.
• Marriott Bonvoy.
• World of Hyatt.

Drawbacks and consideration

The Chase Ink Business Preferred® Credit Card is an excellent card, but it’s not meant for every business. Here are some reasons why it might not be the best business card for your wallet.

Has an annual fee

While having a $95 annual fee on a promising credit card, there are numerous other cards that provide more options within categories you use, while still having a $0 annual fee.

Bonus categories lack

The Chase Ink Business Preferred card is heavily for small businesses, but more than not, small businesses that have a large emphasis on travel. If your company doesn’t necessarily have a huge focus on traveling for the job, then majority of the bonus points and categories won’t be capitalized upon. A more appropriate card or the matter would then be the Chase Business Cash Card.

The Chase Business Cash Credit Card is a popular choice among small business owners looking to earn rewards on their everyday business expenses. With this card, you can earn cash back on purchases made for your business, helping you save money and reinvest in your company. It offers a variety of features and benefits tailored to the needs of small businesses, including customizable spending limits for employee cards, expense tracking tools, and no annual fee. The card also provides introductory bonuses and ongoing rewards for spending in specific categories commonly associated with business operations, such as office supplies, internet, cable, and phone services. Additionally, cardholders have access to valuable perks like purchase protection, extended warranty coverage, and fraud protection services. Overall, the Chase Business Cash Credit Card is designed to help small business owners manage their finances effectively while maximizing their rewards earning potential.

Is this card right for you?

The Ink Business Preferred® Credit Card provides an extensive array of benefits tailored to the needs of business travelers, all without imposing a hefty annual fee. Take a moment to review your business expenses and assess how closely they align with the bonus categories offered by this card. If there’s significant overlap between your spending habits and these bonus categories, don’t hesitate to seize the opportunity to maximize your rewards potential.