The Chase Ink Business PreferredSM Card is a rewards credit card designed for business owners who want to earn cash back on their purchases. It currently offers a sign-up bonus of 80,000 bonus points after you spend $5,000 on purchases within the first three months of account opening. This is equivalent to $1,000 toward travel when you redeem through the Chase Ultimate Rewards portal!
Cardholders earn 3X points on travel, shipping, internet, cable, phone and qualifying advertising with the card, up to $150,000 each year. Read on to find out more about this card.
Editor’s Note: If you ever sell something on eBay, Craigslist, or do any freelance work, your business is called sole proprietorship. Simply use your name as business ID and Social Security number as tax ID on your application to apply.
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Chase Ink Business Preferred Card Summary
With the Ink Business Preferred℠ Card:
• Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem 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 no limit to the amount you can earn
• Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
• Redeem points for travel, cash back, gift cards and more - your points don't expire as long as your account is open
• No foreign transaction fees
• Employee cards at no additional cost
• $95 Annual Fee
The Ink Business Preferred earns 3 points per $1 spent on telecommunications purchases (including Internet, landline phone, cell phone, and cable TV), travel purchases, select digital advertising purchases, and shipping purchases. Your points can be earned on a combined annual spending limit of $150,000 across all of these categories.
After hitting the $150,000 spending limit, your points earned will go down to 1 point per $1 spent. The annual limit resets on the anniversary date of your account opening.
All other purchases earn 1 point per $1 spent. In addition, your points don’t expire as long as your account is open.
You can redeem your points for travel, general merchandise, cash and cash equivalents, gift cards from dozens of merchants, experiences, and more through the Chase Ultimate Rewards marketplace. You can also shop with points at Amazon.
There’s no minimum threshold for cash redemptions. But other redemption types have minimums that vary.
Points are usually worth 1 cent each at redemption. However, travel purchases, including airfare and hotel stays, are worth 1.25 cents each, effectively boosting their value by 25%. For example, 50,000 points are worth $500 when redeemed for cash, but they’re worth $625 when redeemed for travel.
Along with standard travel and purchase protections, the Chase Ink Business PreferredSM Card comes with:
Cell Phone Protection: This card comes with a cell phone protection plan that reimburses losses due to theft or damage of up to $600 per incident, and up to 3 incidents per 12-month period. Your employees can get their phones covered as long as their monthly bills are paid with your card. Each claim has a $100 deductible.
1:1 Point Transfer: Instead of redeeming your points through the Ultimate Rewards portal, you can transfer them on a 1-to-1 basis to Chase’s frequent travel programs. These include Marriott Rewards, Southwest Airlines Rapid Rewards, and British Airways Executive Club. You usually need at least 1,000 points to execute cross-program transfers. The transfer ratio is higher than most cards, as many competing credit cards can be as low as 5:1, or even 10:1.
No Foreign Transaction Fee: Use this card without paying a pesky foreign transaction fee when traveling outside the U.S.
If you are a small business owner, the Chase Ink Business PreferredSM Card may benefit you, especially since it offers 3x the points in selected categories in areas that you may spend a lot in. This card is fitting for daily use and well-rounded. However, if your business doesn’t spend enough money on business expenses to pay an annual fee of $95, this isn’t the card for you. Overall, this is an ideal card if you spend up to $150,000 per year on purchases that fall under the 3x points categories and travel often for business purposes.
Provide feedback in the comment section below by telling us your thoughts and experience with this card. Make sure to visit BankDealGuy for more credit card bonuses. For more Chase offers, see our list of the best Chase credit cards!
The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.