Chase Ink Business Preferred® Review

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Chase Ink Business Preferred℠

Overall Rating

9.8

Bottom Line

Perhaps the most valuable perk with The Chase Ink Business Preferred℠ Credit Card is the 100,000 points sign-up bonus after spending $15,000 on purchases in the first three months. That’s worth $1,250 in travel rewards when redeemed through the Ultimate Rewards program.

Pros

  • Great Sign-Up Bonus
  • Flexible Reward Categories
  • No Foreign Transaction Fees
  • Free Cards For Employees

Cons

  • High Annual Fee
  • High APR

Sign-Up Bonus

10.0

Rewards Earning Rate

10.0

Flexible Rewards

10.0

Annual Fee

9.5

The Chase Ink Business Preferred® Credit Card is one of the best credit cards for small businesses available.

It offers excellent rewards earning rates in spending categories that matter to most companies. It also comes with a massive sign-up bonus with the potential to double it by meeting spending requirements.

It’s also tied to Chase Ultimate Rewards, largely regarded as the premier travel rewards program. Any rewards earned by your business and your employees can be used towards free travel and much more.

Let’s take a closer look at this small business credit card to see what it offers.

What is Chase Ink Business Preferred®?

Chase Ink Business Preferred® is Chase’s premier business credit card offering. It offers valuable rewards and perks unmatched by most business credit cards in the market today.

Businesses earn 3X points per dollar spent on the first $150,000 of combined purchases in these bonus categories:

Ink Business Preferred® Bonus Categories:

  • Travel
  • Shipping
  • Internet, cable, and phone services
  • Select advertising

All other spending earns 1X points per dollar spent for your business. Plus, you can provide your employees with free cards to earn even more credit card rewards and tools to track their spending.

Perhaps the most valuable perk with Ink Business Preferred® is the 100,000 points sign-up bonus after spending $15,000 on purchases in the first three months. That’s worth $1,250 in travel rewards when redeemed through the Ultimate Rewards program.

You can also transfer rewards to any of Chase’s 13 travel partners.

Ink Business Preferred® Partners Include:

  • Aer Lingus AerClub
  • Air France/KLM Flying Blue
  • British Airways Executive Club
  • Emirates Skywards
  • JetBlue TrueBlue
  • Singapore Airlines KrisFlyer
  • Southwest Airlines Rapid Rewards
  • United MileagePlus
  • Virgin Atlantic Flying Club
  • Iberia Plus
  • World of Hyatt
  • IHG Rewards Club
  • Marriott Bonvoy

Between these fantastic travel partners and other travel that can be booked through Chase Ultimate Rewards, you’ll be able to use your rewards to travel almost anywhere in the world.

This is the largest sign-up bonus offered by Chase, even bigger than Chase Sapphire Preferred℠ and Chase Sapphire Reserve.

Chase Ink Business Preferred® Annual Fee

Chase Ink Business Preferred® has a $95 Annual fee, which isn’t too much when you consider all of the rewards earning potential of this card and a sign-up bonus worth up to $1,250 in travel.

Neither of Chase’s other two business cards, Ink Business Cash and Ink Business Unlimited has an annual fee, but they also don’t offer the same benefits afforded to Ink Business Preferred®.

It’s also the perfect business card if you’re a frequent traveler for business or pleasure. Ink Business Preferred® has no foreign transaction fees.

Chase Ink Business Preferred® Benefits

Chase Ink Business Preferred® offers tons of value to businesses. It’s nice to know that your business is covered by Chase when you need it the most.

Here are just some of the travel and business perks you’ll enjoy with this small business credit card.

Cell Phone Protection: As long as you pay your monthly cell phone service with your card, you and eligible employees will get up to $600 per claim for damage or theft of company cell phones. There’s a $100 deductible and a limit on the number of claims. Knowing your most-used business resources are protected is a great feeling.

Trip Cancellation/Interruption Insurance: If you have to cancel or cut short travel because of illness or weather, you may be eligible to receive up to $5,000 of coverage on prepaid, nonrefundable travel expenses.

Trip Delay Reimbursement: Qualifying travel that is delayed either 12 or more hours (or long enough to require an overnight stay)  is eligible for reimbursement up to $500 per ticket. This is good for award tickets, too, if you paid for taxes and fees with your Ink Business Preferred® card.

Car Rental Insurance: Any car rentals purchased with your Ink Business Preferred® are covered for theft and damage almost anywhere in the world. This doesn’t include liability coverage, but covers you for the entire value of your rental vehicle.

Fraud Protection: Ink Business Preferred® offers real-time fraud protection, including notifications. Your account is monitored, and you’ll receive a call if they discover any unusual spending patterns.

Purchase Protection: Your new purchases are covered for up to 120 days against damage or theft up to $10,000 per claim. There’s a limit of $50,000 total in protection coverage.

Extended Warranty Protection: Any purchases made that come with a qualifying U.S. manufacturer’s warranty of three years or less is covered for an extra year with Chase Ink Business Preferred®.

Other Valuable Perks Included with Ink Business Preferred®:

  • Travel Accident Insurance
  • Baggage Delay Protection
  • Baggage Insurance

Signing Up and Getting Started

To qualify for Chase Ink Business Preferred® requires a good to excellent credit rating. A credit score of good falls between 670-739.

If you are approved, you’ll be able to start earning rewards from purchases once your card arrives.

You’ll earn 3X points per dollar spent on the first $150,000 of combined purchases on travel, shipping, social media advertising, and internet, cable, and phone services.

Any spending in those categories after the first $150,000 earns 1X points per dollar.  All of your other company spendings earns 1X points per dollar spent.

Chase Ink Business Preferred® Bonuses

If you’re approved for the card, you’ll be eligible to earn a sign-up bonus of 100,000 Ultimate Rewards points after you spend $15,000 in the first three months from account opening. That’s the equivalent of $1,250 in travel through Chase Ultimate Rewards.

However, that’s just the start. There are reports of a targeted offer from Chase for Chase Ink Business Preferred® cardholders that could offer additional bonus points for meeting extra spend goals.

You’ll receive a letter in the mail from Chase if you qualify.

Unfortunately, not everyone will receive this targeted offer, but it’s nice to know that Chase likes to reward business owners with valuable perks like this.

Chase Ink Business Preferred® Security

Chase Ink Business Preferred® has access to many security measured enjoyed with most credit cards these days. This includes fraud protection and zero liability protection.

You’ll also see any changes to your credit report through Chase’s Credit Journey tool.

Customer Service and Support

Chase offers top-notch support to all of its customers, including Chase Ink Business Preferred® cardholders. Chase customer service is available 24/7 over the phone, as well as through the Chase app. You can also reach customer service through secure online messaging.

Chase will even respond to customers through its Twitter account, @ChaseSupport.

Pros and Cons of Chase Ink Business Preferred®

Pros

  • Impressive Sign-up Bonus
  • Great rewards earning rates
  • Access to Chase Ultimate Rewards Program
  • Free cards for employees
  • No foreign transaction fees
  • Points don’t expire as long as your account is open
  • Flexible rewards

Cons

  • Annual Fee
  • High APR

Alternatives to Chase Ink Business Preferred®

While Chase Ink Business Preferred® Credit Card is one of the best small business credit cards, it’s not the only one. Check out these alternative business credit cards.

American Express®Business Gold Card

The American Express Business Gold Card allows you to earn 35,000 points after spending $5,000 on eligible purchases within the first three months of Card Membership.

It comes with a flexible rewards program that’s perfect for most small businesses.

You’ll earn 4X points in two select bonus spending categories your business uses the most for the first $150,000 in combined purchases yearly and 1X after that.

You’ll also earn 1X points on all other spendings. It carries an annual fee of $295, though.

The Blue Business® Plus Credit Card from American Express

If you’re looking for a business credit card without an annual fee, check out the Blue Business Plus Credit Card from American Express.

It offers 0% intro APR on purchases for 12 months, with a go-to APR of 13.24% – 19.24% variable after that, making this card perfect for business equipment purchases.

Businesses earn 2X points on all business expenses up to $50,000 per year and 1X points on all purchases after $50,000. It has no annual fee.

Chase Ink Business Preferred® FAQs

How do you qualify for Chase Ink Business Preferred®?

To qualify for Chase Ink Business Preferred®, you’ll need a minimum credit score of 670, which is considered good. This Chase card is also subject to Chase’s 5/24 rule. The 5/24 rule states that if you have opened five credit cards within the past 24 months, you will NOT be approved for any Chase credit card (with some exceptions).

What counts as Preferred for Chase Ink?

The Chase Ink Business Preferred® Card offers different rewards that Chase Ink Business Cash and Chase Ink Business Unlimited. The main differences include a higher sign-up bonus, no foreign transaction fees, and access to Chase Ultimate Rewards. Chase Ink Business Preferred® is the only one with an annual fee.

Is Chase Ink business preferred® metal?

No, Chase Ink Business Preferred® is a plastic credit card.

Does Chase Ink Business Preferred® have foreign transaction fees?

Chase Ink Business Preferred® doesn’t carry any foreign transaction fees, making it the ideal business card to use for international travel.

Is Chase Ink Business Preferred® For You?

Chase Ink Business Preferred® is for small businesses that spend money on social media ads, travel, and shipping as it earns 3X points per dollar on those purchases. It’s also the perfect card for business owners who like to travel and earn rewards for travel.

Chase Ink Business is subject to Chase’s 5/24 rule. Because of that fact, this should be your first business card option if you’re aren’t over the limit already.

Additional Disclosures: Millennial Money has partnered with CardRatings and creditcards.com for our coverage of credit card products. Millennial Money, CardRatings and creditcards.com may receive a commission from card issuers. This site does not include all financial companies or financial offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

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