Chase Ink Business Preferred® Review: Earn Rewards on Everyday Business Expenses

The Chase Ink Business Preferred® card is a robust rewards card designed for small businesses. Rewards points are tripled for travel and other common business expenses, and the sign-up bonus alone can be worth ten times the $95 annual fee.

In addition to the financial rewards, you can also take advantage of travel insurance, cell phone insurance, and a handful of other useful perks for professionals.

As you might expect, a powerful business card like this isn’t for everybody. You need to have good credit to qualify.

And if you want to actually take advantage of any of the perks, you’ll need to have a reasonably high annual spend. Here’s everything you need to know about the Chase Ink Business Preferred® card.

Ink Business Preferred® Credit Card Pros and Cons

Pros:

• Triple rewards on travel and other business expenses
• Very generous sign-up bonus
• Powerful travel and cell phone coverage

Cons:

• Standard rewards rate is unimpressive
• Must own a for-profit business to qualify
• Not suitable for small businesses with a low annual spend

What Is the Chase Ink Business Preferred® Credit Card?

The Chase Ink Business Preferred® credit card is a business credit card with a high annual limit. As with most business cards, the APR is a bit high, but that’s because you’re not supposed to carry a balance.

The $95 annual fee is in line with other similar business cards, and you’ll need to use the card at least a little bit in order for the fee to be worthwhile.

Your break-even point will be between $3,300 and $10,000 per year, depending on your spending category. Beyond that, each dollar you spend on the card is a net benefit.

Chase Ink Business Preferred® Review

• Annual Fee: $95
• APR: 15.99-20.99%
• Recommended Credit Score: 690 or higher
• Sign-Up Bonus: 100,000 bonus points if you spend $15,000 in the first 3 months
• Rewards: Three points per dollar on travel, shipping, advertising, and internet service. One point per dollar for all other purchases.

Ink Business Preferred® Credit Card Rewards

Ink Business Preferred® rewards are issued in the form of Chase Ultimate Rewards points. These points can then be redeemed for a variety of rewards.

While the points themselves cannot be sold for cash, they’re worth $0.01 each, with a 25% bonus for travel rewards.

So, for example, 100,000 points could be redeemed for $1,000 in Amazon purchases, but the same points could be redeemed for $1,250 in airline tickets.

We chose 100,000 points for our example because that’s the sign-up bonus if you spend at least $15,000 in your first three months. That’s quite the sign-up bonus!

Earning Rewards

Rewards are earned every time you use your Ink Business Preferred® card to make a purchase. That’s all there is to it.

There’s no need to shop from a specified list of merchants or restrict yourself to PIN pad purchases. All purchases earn a base rate of 1 point for every dollar.

Beyond that, purchases in specific categories earn triple rewards or 3 points for every dollar spent. These include travel expenses, online advertising purchases, shipping expenses, and internet and phone service.

Keep in mind that you only earn triple rewards on the first $150,000 in qualifying purchases. Any spending over that amount will only earn you the base rate.

Redeeming Rewards

Rewards are easy to redeem in a variety of purchase categories. That said, you’re getting the best value if you redeem them for travel at the increased 1.25x rate.

Even better, the rewards can be transferred to other Chase accounts. In most cases, this serves no purpose.

But for Chase Sapphire Rewards cardholders, you can transfer your rewards to that card and take advantage of the 1.5x travel redemption rate.

In addition, Chase Ultimate Rewards programs can be transferred to a number of other travel rewards programs not directly run by Chase.

You can transfer points to United MileagePlus, British Airways Executive Club, Marriott Bonvoy, and more than a dozen other rewards programs through their partner program.

Chase Ink Business Preferred® Features & Benefits

Phenomenal Sign-Up Bonus

Most rewards cards offer a sign-up bonus of one kind or another, but there are sign-up bonuses, and there are sign-up bonuses.

The Chase Ink Business Preferred®’s 100,000-point bonus is worth up to $1,250 and only requires you to spend $15,000 in the first three months across all purchase categories.

Yes, other cards offer a comparable bonus, but those cards typically come with a hefty annual fee, on the order of $500 or more. Among cards with a sub-$100 annual fee, you won’t see many bonuses this generous.

Business Management Tools

This card works with Chase Business Online, a web-based portal that provides you with easy ways to manage your account.

From here, you can set alerts for fraud or high-dollar purchases. You can view your card statement, make payments, set up automatic payments, and instantly lock or unlock your card from one secure web page.

Travel & Purchase Coverage

• Purchase Protection: All purchases made on the Ink Business Preferred® card are covered for 120 days from the date of purchase. You’ll be reimbursed up to $10,000 per claim for lost or damaged items, with a claim limit of $50,000 per account.
• Roadside Assistance: The roadside assistance program isn’t free – you still have to pay for your repairs or tow. But by calling the special toll-free number, you can get help in a hurry, and all charges will automatically be billed to your card.
• Car Rental Insurance: If you use your card to rent a car for business purchase, you’ll automatically receive primary insurance coverage. This means you won’t have to pay for the rental company’s coverage or involve your personal insurance company in the event of a collision.
• Extended Warranty Protection: All purchases with a manufacturer’s warranty will receive a one-year extension if the warranty is for three years or less.
• Cellphone Protection: Because you earn triple points for phone bills, you should already be paying your cellphone bill with the Business Preferred® card. As an added benefit, you’ll then receive $600 in insurance coverage to cover a lost or damaged phone. You can make up to three claims per year at the cost of a $100 deductible.
• Trip Cancellation & Interruption Insurance: If your trip is cancelled or cut short due to illness, a natural disaster, or another act of God, you’ll be refunded for up to $5,000 per person or $10,000 per trip. Not only that, but if your flight is delayed by more than 12 hours, you’ll receive up to $500 towards a hotel room and other related expenses.

No Foreign Transaction Fee

Many cards charge a fee for foreign transactions, sometimes as much as 3%. This can wipe out any rewards and even cost you money. The Ink Business Preferred® card charges no such fee.

International Payment Options

This card is part of the Visa network, the most widely accepted card network on planet Earth. Accepted by merchants in almost every country, you can use the Ink Business Preferred® card wherever your business takes you.

Free Employee Credit Cards

Since this is a business card, you may want two or more people to have access to the account. Not only are these additional cards completely free, but you can set individual spending limits for each employee.

Transfer Points to Airline & Hotel Programs

You can transfer your Chase Ultimate Rewards points to more than a dozen of Chase’s partners in the airline and hospitality industry.

If you already use a rewards program you’re happy with, you may very well be able to transfer your points.

How Does the Ink Business Preferred® Credit Card Compare to Other Business Credit Cards?

#1. Ink Business Preferred® vs Ink Business Cash® Credit Card

The Ink Business Cash® card is a cash back card, not a points rewards card. This means that your rewards are paid directly in cash, either in the form of a check or of a credit to your statement.

If you’re applying the rewards as a credit, you’re basically getting a discount every time you use the card.

Rewards vary based on category. The highest-paying categories are office supplies and internet/phone service, which earn 5% cash back. Gas and restaurant purchases earn you 2%, while all other purchases payout at a rate of 1%.

#2. Ink Business Unlimited® vs Ink Business Preferred®

The Ink Business Unlimited® is similar to the Ink Business Preferred® card in that purchases earn you Chase Ultimate Rewards.

However, as the name implies, there’s no limit, whereas Ink Business Preferred® rewards only earn 1 point per dollar over $150,000.

That said, there are no special categories on the Ink Business Unlimited®, either. You earn a flat 1.5 points per dollar on all purchases, regardless of category.

This makes it a better deal if you don’t spend much money in the Business Preferred® card’s bonus categories – or if your company spends well over $150,000 per year on credit card purchases.

#3. Capital One Spark Cash for Business vs Ink Business Preferred®

The Capital One Spark Cash for Business is another cash back card with the attendant costs and benefits that it entails.

With a 2% rewards rate, you get up to double the effective payout of the Ink Business Preferred® card, and you get that rate across all categories.

That said, as with other cash programs, you can’t transfer your rewards to another card or program. So if you want to use your rewards for air travel, you’d need to have a check issued, deposit the check, and go buy your airline ticket.

Frequently Asked Questions

Does the Chase Ink Business Preferred® Have an Annual Fee?

Yes. The Chase Ink Business Preferred® card has an annual fee of $95.

Is the Chase Ink Business Preferred® a Travel Credit Card?

Yes and no. Many of the card’s benefits are geared towards travelers, including transferring points to popular travel rewards programs. That said, you earn bonus points for spending on several business-related categories – not just travel.

What Is the Difference Between Chase Ink Preferred and Chase Ink Cash?

The Chase Ink Cash is a cash back card, while the Chase Ink Preferred cards pays rewards in Chase Ultimate Rewards points. The Chase Ink Cash card also has no annual fee.

Can I Combine Ink Preferred Rewards with Other Chase Business Credit Cards?

Yes. The Ink Business Preferred® card pays out in Chase Ultimate Rewards points. These can be transferred to any Chase account that also uses Ultimate Rewards points.

Bottom Line: Chase Ink Business Preferred Review

The Chase Ink Business Preferred® card is an excellent value for businesses that spend a lot of money on travel and shipping.

The versatile rewards program allows you to earn a generous payout towards airline and hotel expenses. The card also has a low annual fee, so your break-even point is also lower than most business cards.

That said, if you don’t spend a lot of money on travel, you may prefer a cash back card or one with a different rewards structure. Remember, it’s not just about how generous the rewards are; it’s about how they’ll actually benefit your business.