/Chase Ink Business Preferred card review: A great credit card for small-business owners, with a sign-up bonus worth at least $1,250 in travel

Chase Ink Business Preferred card review: A great credit card for small-business owners, with a sign-up bonus worth at least $1,250 in travel


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Regular APR

15.99%–20.99% variable APR

Credit Score

Good to Excellent

Featured Reward

100,000 points after spending $15,000 on purchases in the first 3 months from account opening


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  • Pros & Cons
  • Details

  • Pros
    • High sign-up bonus
    • Offers 3x bonus points on several spending categories, including travel and advertising purchases
    • Includes comprehensive travel coverage
    Cons
    • Welcome bonus has a very high minimum spending requirement
    • Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
    • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
    • With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring
    • With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information
    • Redeem points for cash back, gift cards, travel and more – your points don’t expire as long as your account is open
    • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
    • Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account
    • $95 Annual Fee


    Read Our Review

    Read Our Review
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    Review: Is the Ink Business Preferred the best credit card for you?

    If you own a small business and like earning flexible rewards you can use for travel and a wide variety of other redemptions, the Ink Business Preferred® Credit Card is an excellent choice — especially if you don’t want to pay a high annual fee.

    The Ink Business Preferred® Credit Card has a $95 annual fee, but comes with a bonus and benefits you might expect from premium credit cards that cost a lot more. Currently, the Ink Business Preferred® Credit Card is offering a welcome bonus of 100,000 points after spending $15,000 on purchases in the first 3 months from account opening — the highest of any Ultimate Rewards-earning card.

    While you’ll have to spend a lot to unlock the bonus, if your business can meet the minimum spending requirement, the rewards you earn are well worth it. 100,000 Chase Ultimate Rewards points are worth $1,000 in cash back, $1,250 in travel booked through Chase, and potentially even more when you transfer points to Chase’s airline and hotel partners.

    You’ll earn bonus points in common small-business spending categories as well — 3x points on up to $150,000 in combined spending each year (then 1x) on:

    • Shipping purchases
    • Advertising purchases on social media sites and search engines
    • Internet, cable, and phone services
    • Travel (including airfare, hotels, rental cars, and more)

    The Ink Business Preferred® Credit Card earns 1 point per dollar on all other purchases with no spending caps.

    You’ll also get excellent travel and shopping benefits, including cell phone protection, trip cancellation/interruption insurance, primary car rental insurance (when renting for business purposes), extended warranty, and purchase protection.

    If you’re not sure about paying an annual fee, or if the card’s bonus categories don’t fit your typical spending patterns, there are other Chase small-business cards that might be a better fit. For example, the no-annual-fee Ink Business Unlimited® Credit Card comes with a welcome bonus of $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening and earns a flat 1.5% cash back (1.5x points) on all purchases with no limits.

    Or, consider the Ink Business Cash® Credit Card, which is offering the same intro bonus as the Unlimited card and earns 5% back (5x points) on the first $25,000 spent per year (then 1%) on internet, cable and phone services and at office supply stores, and 2% back (2x points) at gas stations and restaurants on up to $25,000 in combined purchases per year (then 1%). 

    Comparison: Ink Business Preferred vs other Chase credit cards

    *the Ink Business Preferred® Credit Card earns 3x points on the first $150,000 in combined purchases spent each account anniversary year in these categories (then 1x)

    ***5% cash back and 2% cash back on the Ink Business Cash® credit card on up to $25,000 in combined purchases each account anniversary year, then 1% cash back.

    Comparison: Ink Business Preferred vs other small-business credit cards

    *the Ink Business Preferred® Credit Card earns 3x points on the first $150,000 in combined purchases spent each account anniversary year in these categories (then 1x)

    ***the American Express® Business Gold Card 4x categories include airfare purchased directly from airlines, US gas stations, US restaurants, US shipping providers, US computer hardware, software, and cloud systems from select technology providers, and US purchases for advertising in select media (online, TV, radio)

    How to use points from the Chase Ink Business Preferred card

    The Ink Business Preferred® Credit Card earns transferable Chase Ultimate Rewards points, which you can use in a number of ways. The most popular redemptions are for travel — either by transferring to Chase’s airline and hotel partners, or by booking directly through the Ultimate Rewards travel portal.

    The value you’ll get per point when you transfer to partners depends highly on the airline or hotel program and the specific redemption. When you use points from the Ink Business Preferred® Credit Card to book travel through the Chase portal, you’ll get a value of 1.25 cents apiece.

    You’ll also get the 1.25 cents per point rate when you use points for statement credits toward eligible purchases through the Chase Pay Yourself Back program. Through June 30, 2021, the Ink Business Preferred® Credit Card Pay Yourself Back categories are home improvement stores, shipping, and eligible charity purchases (through December 31, 2021).

    If you’re not ready to travel yet, there are plenty of other ways to redeem Ultimate Rewards points, including:

    • Cash back
    • Amazon or Apple purchases
    • Gift cards
    • Dining experiences and takeout orders with Chase Dining
    • Charity donations

    Ink Business Preferred card benefits and features

    Cell phone protection

    I pay my monthly wireless bill with the Ink Business Preferred® Credit Card because it comes with cell phone protection of up to $600 per claim with a $100 deductible, up to three times per year. That includes the primary line and any additional lines on your bill.

    This can be a real money-saver — before getting the card, I’d been paying AT&T about $9 per month for coverage — and when I had to file a claim for a shattered screen, the process was relatively simple. And, as a bonus, the card earns 3x points on wireless bills (up to $150,000 per year in combined purchases with internet, cable, travel, shipping, and search engine or social media advertising purchases, then 1x). 

    Primary rental car insurance

    Chase offers primary car rental insurance if you rent a car for business purposes using your Ink Business Preferred® Credit Card, which can save you a ton of money when you travel.

    When you decline the collision insurance offered by the rental company and charge the entire cost of the rental to your card, you’re covered for theft and collision damage up to the actual cash value of most vehicles in the US and abroad. However, this doesn’t include liability, so you’ll have to pay for that separately or carry coverage through your own personal

    auto insurance
    policy.

    Trip cancellation/interruption insurance

    If you’ve made prepaid reservations (like hotels, tours, or airfare) with your Ink Business Preferred® Credit Card and your trip is canceled or interrupted for a covered reason, you may be eligible for reimbursement of up to $5,000 per person and $10,000 per trip.

    Purchase protection

    The Ink Business Preferred® Credit Card comes with purchase protection, which covers your new purchases made with the card for 120 days against damage or theft (up to $10,000 per claim and $50,000 per account).

    Extended warranty

    Ink Business Preferred® Credit Card cardholders also get extended warranty coverage which extends the time period of a US manufacturer’s warranty by an additional year, on eligible warranties of three years or less when you pay with the card.

    Travel and emergency assistance and roadside dispatch

    As a cardholder, you’ll also have travel and emergency assistance if you need help during your travels. While you will have to cover any third-party costs, a benefits administrator can help arrange what you need during an unexpected event. 

    You’ll also get access to a roadside dispatch service, which can arrange help like a tow, jumpstart, or tire change. As with emergency assistance services, you’ll be responsible for covering the cost of any services.

    Regular APR

    15.99%–20.99% variable APR

    Credit Score

    Good to Excellent

    Featured Reward

    100,000 points after spending $15,000 on purchases in the first 3 months from account opening


    Chevron icon
    It indicates an expandable section or menu, or sometimes previous / next navigation options.

  • Pros & Cons
  • Details

  • Pros
    • High sign-up bonus
    • Offers 3x bonus points on several spending categories, including travel and advertising purchases
    • Includes comprehensive travel coverage
    Cons
    • Welcome bonus has a very high minimum spending requirement
    • Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
    • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
    • With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring
    • With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information
    • Redeem points for cash back, gift cards, travel and more – your points don’t expire as long as your account is open
    • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
    • Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account
    • $95 Annual Fee


    Read Our Review

    Read Our Review
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    Chase Ink Business Preferred card fees and costs

    The Ink Business Preferred® Credit Card has a $95 annual fee, but if you can take advantage of the bonus categories and benefits, it’s well worth it.

    You won’t pay foreign transaction fees with the Ink Business Preferred® Credit Card, so it’s a good card to take with you overseas or use for paying international vendors.

    As with most other cards, there are fees for late and returned payments, cash advances, and balance transfers.

    Jasmin Baron is an associate editor at Personal Finance Insider, where she helps readers maximize rewards and find the best credit cards to fit their lifestyles. She has covered credit cards, points and miles, and loyalty programs for over seven years, and she’s a Certified Educator in Personal Finance (CEPF).

    Original Source