Credit Card Strategy
I often write about optimal credit card strategy and how you can earn and redeem miles in the best possible way. You can earn a lot of miles and points by signing up for the correct credit card. The Ink Business Preferred Credit Card by Chase often tops the list for best business credit cards. This is primarily because of the generous sign-up bonus as well as the on-going spend benefits. Let’s review the benefits of this card and why it could be a great addition to your wallet.
Currently, you can earn 80,000 Ultimate Rewards points after signing up for the card. You’ll earn the sign-up bonus once you spend $5,000 in the first 3 months after approval. Chase’s Ultimate Rewards points are extremely valuable. You can redeem them at a flat value of 1.25 points per cent or transfer them to Chase’s valuable airline and hotel partners.
I’m a strong proponent of signing-up for and keeping credit cards beyond just attaining the sign-up bonus. The Ink Business Preferred Credit Card by Chase ticks both those boxes. In addition to the 80,000 point sign-bonus, the card has impressive spending categories. These can help you rack up thousands of Ultimate Rewards points very quickly.
With the Ink Business Preferred Credit Card by Chase, you’ll earn 3 Ultimate Rewards points per dollar spent in the following categories:
- Internet, Cable and Phone services
- Advertising purchases made with social media sites and seraph engines
I love the spend category bonuses on this card! When you’re not traveling, it’s easy to rack up points by putting your monthly cable, phone and internet bill on this card. If your monthly bill in this category is around $200, you can earn a total of 7,200 Ultimate Rewards points just by putting your monthly bill on this card.
Cell Phone Protection
In order to use this benefit, you simply have to pay your monthly cell phone bill with this card. You don’t need to purchase your phone with this card. Merely paying your monthly bill should trigger the benefit. Here are a few points to remember about this benefit:
- You will get up to $600 per claim
- Coverage includes theft or damage to your and your employees’ cell phones when you pay their monthly bill with the card
- You can make a maximum of 3 claims in a 12 month period
- $100 deductible applies for each claim that you make
Here’s where you have a couple of options. You can redeem Chase Ultimate Rewards points on the Ink card by simply redeeming them for 1.25 cents a piece. You can do so by purchasing travel from Chase’s portal. For example, if you buy through Chase’s portal, a $125 airline ticket will cost you 10,000 Ultimate Rewards points.
If you redeem your entire sign-up bonus of 80,000 points on the Chase portal, you’ll get $1,000 in travel.
Even better, you can transfer Chase’s points to their travel partners at a 1:1 ratio. I’ve redeemed my Ultimate Rewards points for some really memorable stays by transferring then to the World of Hyatt program.
- Aer Lingus AerClub
- British Airways Executive Club
- Flying Blue/ Air France KLM
- Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards
- United MileagePlus
- Virgin Atlantic Flying Club
- IHG Rewards Club
- Marriott Bonvoy
- World of Hyatt
Other Valuable Benefits
The card offers other valuable benefits like purchase protection, extended warranty protection, car rental insurance, roadside assistance and trip delay/trip cancellation insurance. These ancillary benefits can be extremely valuable.
Please note that this card is subject to Chase’s 5/24 rule. Chase will not approve you for a card if you’ve been approved for five or more credit cards in the last 24 months. However, this is a business credit card. Once you’re approved, it will appear on your business credit report and not take up a 5/24 slot.
Sign-up Bonus restrictions
Chase imposes a restriction on getting the sign-up bonus for this card. You will not be eligible for the sign-up bonus if you currently have the card and have received the bonus in the last 24 months.
The annual fee for this card is $95. By putting your cable, internet and phone bill monthly and earning 3x, you can easily recoup the entire annual fee given the amount of points you’ll earn.
Business Credit Cards
You need not have a full fledged business in order to get this card. If you have any consulting gig or run a part time business on the side, you can apply as a sole proprietor. Please ensure that you enter all the details truthfully and correctly on your credit card application.
The Pundit’s Mantra
If you’re looking to play the miles and points game long term, then this is a fantastic card. It lets you earn a hefty sign-up bonus of 80,000 Ultimate Rewards points. I’ve redeemed Chase points for great value by transferring them to Chase’s travel partners. Some of my favorite redemptions include transferring to World of Hyatt and redeeming for their all-inclusive resorts and transferring to Singapore airlines in order to fly business class to India and around Asia.
The mileage earning on this card is pretty solid with the lucrative 3x bonus categories. Pair this with the Chase Freedom Unlimited or the Chase Ink Business Unlimited and you can earn a flat 1.5x Ultimate Rewards points on all other spend.
What do you think about the Ink Business Preferred Card? Is it your go-to card for earning Ultimate Rewards points? Let us know in the comments section.