The Chase Ink Business PreferredSM Credit 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 towards 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.
Chase Bank offers great bonuses with their Checking/Savings accounts also!
Table of Contents
- 1 Chase Ink Business Cards
- 2 Chase Ink Business Preferred Card Summary
- 3 Chase Ink Business Preferred Card – Earn Up to 80k Points
- 4 Earning Points
- 5 Redeeming Points
- 6 Ultimate Rewards Airline/Hotel 1:1 Point Transfer Partners
- 7 Tip: Additional UR Bonus Points With Sapphire℠ Checking
- 8 Ink Preferred Business Credit Card – Top Features
- 9 Chase Ink Business Preferred Cardholder Benefits
- 10 Author’s Verdict
- 11 Alternative Credit Card Options
Chase Ink Business Cards
Chase Ink Business Preferred Card Summary
The Chase Ink Business PreferredSM Card offers 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®.
You'll earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year; 1 point per $1 on all other purchases - with no limit to the amount you can earn. Furthermore, points are worth 25% more when you redeem for travel through Chase Ultimate Rewards.
This card does come with a $95 annual fee but does not have any foreign transaction fees.
Chase Ink Business Preferred Card – Earn Up to 80k Points
After hitting the $5,000 threshold in the first 3 months of opening your account, you can earn 80,000 bonus points. There are many ways to go about this. Down below are several options to acquiring these points.
This bonus is presented in the form of Ultimate Reward Points that can be redeemed for cash back or travel expenses. If you redeem your travel expenses through the Ultimate Rewards Portal, it will be the same value.
• Plastiq - Using Plastiq allows you to pay for your personal expenses such as rent, tuition, mortgage, auto lease etc. Although they charge a 2.5% processing fee for using your credit card, this will contribute to the card bonus that you will receive. There is also a referral program that allows you to earn "Free-Free Dollars" that goes towards processing fees as well.
• Funding Checking Accounts - When it comes to funding a checking account, opening your initial deposit with a credit card is the usual way to go about it. However, if you want to have more opportunities, you should open a checking account that offers a sign-up bonus. This allows you to work towards bonuses from not one but two different sources instead. Banks like Chase, Huntington Bank, TD Bank and BBVA offers credit card funding, and for your opening deposit, you can often fund anywhere from $50-$1000 with a credit card, depending on what bank offers it.
• Gift Card Purchases With Using a Credit Card - Another way to acquire the bonus is using your credit card to purchase gift cards. Buying a a gift card or an individual merchant card typically do not require a purchase fee and are used towards leisure, so gift cards are ideal. However, gift cards such as a Visa or American Express do incur purchase fees because they can be spent anywhere, but gift cards that are specifically for a certain online shopping site such as Amazon or eBay don't.
As for a Citi Credit Card, you should call customer service and ask them to lower your Cash Advance limit to $0 before making any purchases because Citi tends to read gift card purchases as a Cash Advance.
Ideally, you should do this with any card just to be safe. Lastly, there is such thing as a discounted gift card which can be purchased on Raise or eBay. If you use a credit card often for everyday purchases, it can build your credit score that will contribute towards paying for things such as bills and taxes.
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 redemption. 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.
Once you move your points to an account that earns Ultimate Rewards, you can transfer them to one of Chase’s travel partners. Or, you can book travel directly through the Chase portal. Your Ultimate Rewards points will be typically transferred at a 1-to-1 ratio. But, depending on which partner you transfer your points to, you could get even more value for your redemption.
Ultimate Rewards Airline/Hotel 1:1 Point Transfer Partners
|Airline Transfer Partners||Hotel Transfer Partners|
|Aer Lingus AerClub||IHG Rewards Club|
|British Airways Executive Club||Marriott Bonvoy (Previously Marriott Rewards)|
|Flying Blue AIR FRANCE KLM||The Ritz-Carlton Rewards|
|Iberia Plus||World of Hyatt|
|Singapore Airlines KrisFlyer|
|Southwest Airlines Rapid Rewards|
|Virgin Atlantic Flying Club|
Tip: Additional UR Bonus Points With Sapphire℠ Checking
The Chase Sapphire℠ Checking account lets you combine Ultimate Rewards points from all Chase products and you can also earn an additional 60,000 bonus points.
Ink Preferred Business Credit Card – Top Features
3X UR Points Can be Used Towards:
- Travel (includes airfare, transportation tickets, taxis & even hotels)
- Social Media & search engine advertising
- Internet, cable & phone services
Employee cards can be added to your account free of charge! You may also set the spending limits for each card to better manage yours or your company’s budget.
The Ink Business Preferred Card has a no foreign transaction fees benefit when you make purchases abroad! This is convenient towards those who always have to travel outside the country for business trips.
Chase Ink Business Preferred Cardholder Benefits
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!
Alternative Credit Card Options
Other Competitors with Similar Annual Fees
The Capital One® Spark® Miles for Business offers a one-time bonus of 50,000 miles once you spend $4,500 on purchases within 3 months from account opening
Your miles won't expire for the life of the account, and there are no categories to limit where or what you buy and you can earn 2 miles per $1 on every purchase.
There is an annual fee of $95, however, there is a $0 intro annual fee for the first year. Enjoy no foreign transaction fees and fly on any airline, anytime, with no blackout dates or seat restrictions.
The Capital One® Spark® Cash for Business offers a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening.
You're able to earn an unlimited 2% cash back could mean thousands of dollars each year going back into your business. Use Spark Cash across all your business spend, with no categories to limit your purchasing.
This card does come with a $95 annual fee, however, there is a $0 intro annual fee for the first year.
No Annual Fee Alternatives
With the Chase Ink Business Cash℠ Credit Card:
• This card offers a $500 bonus after spending $3,000 within the first 3 months.
• 5% cash back on the first $25,000 spent at office supply stores, on internet, cable & phone services for every account anniversary year (combined purchases)
• 2% cash back on the first $25,000 spent at gas stations & restaurants for every account anniversary year (combined purchases); 1% on all other purchases with no limit
• This card has No Annual Fee
With the Chase Ink Business UnlimitedSM Credit Card:
• This card offers a $500 bonus after you spend $3,000 in the first 3 months
• Enjoy earning an unlimited 1.5% cash back on every purchase you make for your business
• This card also comes with No Annual Fee
• Chase Bank Bonuses. Chase usually offers the most sign-up bonuses out of all the big banks. Read up and enjoy several promotions for their Checking, Savings and Business accounts.
• HSBC Bank Bonuses. HSBC has some big value offers available for their Checking accounts. Some require hefty deposits to qualify. They also have an online Savings account offering a very competitive rate.
• Huntington Bank Bonuses. Huntington has Consumer Checking and Business Checking accounts available throughout the year.
• Discover Bank Bonuses. As an online bank, Discover offers high and competitive rates on their Savings, CD, and Money Market accounts. Enjoy excellent customer service nationwide.
• TD Bank Bonuses. TD Bank consistently offers great Checking account bonuses all year long. Savings account offers are less frequently available.
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|HSBC Advance Checking Member FDIC||$350 Cash||Review|
|Huntington Asterisk-Free Checking®||$150 Cash||Review|
|Huntington 5 Checking||$200 Cash||Review|
|Chase SapphireSM Checking||$750 Cash||Review|
|Chase Total Checking® + Chase SavingsSM||$350 Cash||Review|
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|Chase Total Business Checking®||$200 Cash||Review|
|Huntington Bank Accelerated Business Checking||$500 Cash||Review|
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|Huntington Bank Community Business Checking||$200 Cash||Review|