The Chase Ink Business Preferred is a fantastic card for many types of businesses. Many points and miles lovers have flocked to it since its release in the fall of 2016. This is especially true as an alternative to the Chase Sapphire cards and the American Express Business Gold Card.
Keep reading to see why this card is one of my favorites for businesses and entrepreneurs.
The Ink Business Preferred earns 3x Ultimate Rewards (UR) points on the following categories:
- General Travel
- Cable & TV Services
- Internet Services
- Phone Services
- Social Media and Search Engine Advertising Purchases
There is a limit of $150,000 per year across all categories. That means you can earn up to 450,000 UR points per year if you spend within the categories.
Chase has a broad list of what includes travel. Their list includes airfare, hotel stays, a car rental, and toll road fees. This is the same list for qualifying purchases as the Chase Sapphire cards.
By itself, the Ink Preferred is nice, but its potential can be maximized if you have multiple Chase UR-earning cards. This is because you can earn points with those cards and transfer them to your Ink Preferred account. This feature is arguably the most powerful that Chase has to offer.
One of the best parts about the Ink Business Preferred is its sign-up bonus. The bonus is worth 80,000 UR points and it can be earned after spending $5,000 within the first 3 months. This bonus is Chase’s largest and it has a higher minimum spend than the ones from the Sapphire cards. The card also has a $95 annual fee that is NOT waived the first year.
Earning points is fantastic, but points earned are useless if you cannot redeem them for anything of value. Chase has multiple options for redemption:
Transfer partners are by far Chase’s most valuable option. They are the reason why so many points and miles enthusiasts love the Ultimate Rewards family of credit cards so much. With Chase, the name of the game is quality over quantity. Chase has the following transfer partners:
- World of Hyatt
- Aer Lingus
- British Airways
- KLM Flying Blue / Air France
- Singapore Airlines
- Southwest Airlines
- United Airlines
- Virgin Atlantic
Your mileage may vary for each partner. But for most partners, you should be able to easily redeem your points for at least 1.5 cents per point (CPP).
Chase also provides cardholders the option of booking travel through its own travel portal at a fixed rate of 1.25 CPP. You should use the portal if you cannot redeem your points for more than the fixed rate.
Chase also lets cardholders redeem their points for cash back and gift cards at 1 CPP. Sometimes, Chase discounts some of their gift card options, enabling cardholders to redeem for more than 1 CPP.
Neither cash back or gift cards are recommended because you can get the most value from UR points by redeeming for travel.
As a mid-tier travel card, Chase includes many great benefits to make life easier when away from home. Some of them can even pay for the annual fee with enough use.
Primary Car Rental Insurance
This benefit covers the entire loss, damage, or theft of your car rental. Because Chase offers Primary coverage with this card, you don’t have to accept the car rental company’s insurance policy if you use your Ink Business Preferred.
Cell Phone Protection
Nobody wants to drop or lose their cell phone. But not to worry! The Chase Ink Business Preferred offers cell phone protection. You can make up to three claims per calendar year worth up to $600 each. The catch is that you must pay a $100 deductible, making your total protection $500 per claim.
The actual coverage starts the day after you pay your cell phone bill. And it ends after the last day of the calendar month following a payment. Also, coverage doesn’t extend to family members unless they are also employees of your business.
Coverage is supplemental, which makes it like secondary car insurance. This means that you must go through your other third-party insurance plans first before calling Chase.
No Foreign Exchange Fees
You will save 3% on all purchases made outside the United States with the card.
Trip Cancellation / Trip Interruption Insurance
If you need to cancel your trip because of an unexpected event, this benefit gives you up to $10,000 per trip for non-refundable expenses. Plane tickets, hotel rooms, and tours are included.
Trip Delay Insurance
This benefit covers you up to $500 per ticket if your plane, train, or other common carrier is delayed at least 12 hours. It also kicks in if you require an overnight stay as a result of a delay. The $500 helps cover un-reimbursed expenses such as meals and lodging.
Baggage Delay Insurance
This benefit gives you $100 per day up to 5 days if your luggage is lost or delayed. If your luggage is delayed for more than 6 hours, you can redeem for toiletries, clothing, and other essentials.
Rules & Regulations
The 5/24 rule states that you will not be approved for any UR-earning card if you were approved for five or more new accounts in the last 24-months. Some Chase co-branded cards also fall under this rule as well.
What if the Chase Ink Business Preferred is not for you? Here are some alternatives to this card that might suit your needs:
Chase Ink Business Cash
The Ink Business Cash is one of the Preferred card’s “little siblings”. It has no annual fee and earns big points in a plethora of categories.
In fact, the Ink Business Cash earns 5x UR points at Office Supply Stores as well as for Internet, TV, and Phone Services. This card also earns 2x points at Gas Stations (including Costco) and at Restaurants. Each bonus category has a $25,000 annual spend limit.
The Ink Business Cash could be a complement to the Ink Business Preferred, depending on what your business spends its money on. Both cards offer bonus categories for internet, TV, and phone services, which are huge for a lot of businesses. Also, the Business Preferred is needed to transfer points earned with the Ink Cash.
This card has a sign-up bonus worth 50,000 UR points (or $500). It can be earned after spending $3,000 in the first 3 months.
Chase Sapphire Preferred
The Sapphire Preferred is the personal equivalent of the Ink Business Preferred. Both cards have $95 annual fees, but only the personal version’s is waived the first year.
This card earns 2x UR points on General Travel and Dining. Both cards share the former category while the Sapphire Preferred only has the latter category. However, the Ink Business Preferred earns 3x points on general travel versus the Sapphire Preferred’s 2x.
This card comes with a sign-up bonus worth 50,000 UR points. It can be earned after spending $4,000 in the first 3 months.
American Express Business Gold Card
This golden charge card earns 4x Membership Rewards (MR) points on two of the below categories. It also earns 2x points on the remaining categories and 1x points on all other purchases.
The categories to choose from are:
- Advertising (TV, radio, and online only)
- Select Computing Merchants
- US Gas Stations
- Airfare (booked directly with the airline)
- US Restaurants
Like the Ink Business Preferred, there is a limit of $150,000 per year across all categories.
The Business Gold Card has an annual fee of $295 (NOT waived the first year), which is triple that of the Chase card. It also comes with a sign-up bonus worth 35,000 points. The bonus can be earned after spending $5,000 in the first three months.
This card is a better option if your business spends heavily within its categories and if you like Amex’s travel partners. However, the Ink Business Preferred is the better card for most businesses because its annual fee is much lower and it has more perks. Furthermore, many of the bonus categories are similar between both cards.
The Chase Ink Business Preferred is one of my favorite business credit cards. It has a great sign-up bonus and many categories in which you can earn triple points. The card also has similar benefits to the Sapphire Preferred, which is fantastic for many travelers.
Many people have passed on the Chase Sapphire Cards for this card because of the One Sapphire Rule. This card prohibits those who have gotten a Sapphire card sign-up bonus within the last 4 years from getting another one. This card has a bigger sign-up bonus and circumvents the rule – a win-win scenario for many.
I would apply for this card if I had more expenses within the bonus categories. It would also be a nice complement to my Chase Quartet.
Apply Today: Chase Ink Business Preferred