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Last month, Chase announced a new addition to its lineup of business cards: the Ink Business Preferred Card. If the 3x bonus categories piqued your interest, you’ll be happy to know that the application page for this card is now live — click here to apply.
As reported earlier, the Ink Business Preferred Card is offering a sign-up bonus of 80,000 Ultimate Rewards points after you spend $5,000 in the first three months. And while this card has a $95 annual fee, Chase will waive it for the first year if you apply at a branch. Note that you won’t be able to get the fee waived if you apply online.
Based on TPG’s latest valuations, those points are worth $1,680, and this sign-up offer compares favorably to the most recent offer for the Ink Plus Business Card (60,000 points after meeting the same $5,000 minimum spending requirement). And speaking of the Ink Plus Business Card, you can no longer apply for it. Chase has ceased offering it to new customers, but current cardholders won’t be affected.
Is it worth it?
This offer can be quite lucrative, especially when you redeem those points with one of the Ultimate Rewards program’s 11 travel partners for a premium-cabin flight or a luxurious hotel stay. You can also redeem points for 1.25 cents apiece through the Chase Ultimate Rewards travel portal.
Of course, the sign-up bonus isn’t the only thing to consider if you’re thinking of applying for this card. You’ll want to make sure you can maximize its bonus categories as well. As a reminder, here are the earning rates:
- 3x points on the first $150,000 spent in combined spending on travel; shipping purchases; internet, cable and phone services; and advertising purchases made with social media sites and search engines
- 1x points on all other purchases
So if your business makes purchases within any of the 3x categories, you’ll get a 6.3% return on spending (based on TPG’s valuations). The $150,000 cap is for spending across all 3x categories each account anniversary year, but you’ll still be able to earn an impressive 450,000 Ultimate Rewards points if you max out the 3x earning opportunity — netting you 300,000 extra points over the 1x base.
As TPG mentioned in his earlier overview of the Ink Business Preferred Card, it could be a strong alternative to The Business Gold Rewards Card from American Express OPEN when it comes to online advertising spending. With that Amex card, you’ll earn 3x Membership Rewards points (a 5.7% return) on your choice of category from a list of five, including “US purchases for advertising in select media.” However, your 3x earnings are capped at $100,000, so you’ll get a higher return and a higher spending limit for online ad spend with the Ink Business Preferred.
For many, this new card will prove to be more lucrative than the Ink Plus Business Card, which offers 5x points on the first $50,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV each account anniversary year (in addition to 2x points on the first $50,000 spent in combined purchases at gas stations and hotels). However, if the Ink Plus’ bonus categories align with your spending and you don’t currently have the card, don’t fret. Even though sign-ups have closed for that option, you can still apply for the Ink Business Cash Credit Card, which offers a 5% return on the same 5x categories on the Ink Plus, albeit with a lower cap of $25,000 each account anniversary year. Keep in mind that you can redeem the cash-back rewards as UR points if you have a premium card like the Chase Sapphire Reserve or Chase Sapphire Preferred.
The Ink Business Preferred Card has a pretty stellar sign-up bonus considering the $95 annual fee — and the offer’s even more appealing if you can get that fee waived for the first year by applying in a Chase branch. If you or your business spends a significant amount in the 3x bonus categories, you’ll enjoy a strong return on your purchases.
Just remember that applying through our link (or any other link) online means you won’t be able to get the $95 annual fee waived for the first year — this may or may not make a difference depending on how convenient it is for you to drop by a Chase branch.
How would you redeem 80,000 Ultimate Rewards points?
This card earns a respectable 3 points per dollar on the first $150,000 in combined spending on travel; shipping purchases; internet, cable and phone services; and advertising purchases made with social media sites and search engines. That’s a potentially huge earner for small-business owners, making this card a nice option if you're looking for a business credit card.
- Earn 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®
- Earn 3 points per $1 on the first $150,000 spent in select categories each account anniversary year
- Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
- Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
- No foreign transaction fees
- Employee cards at no additional cost
- $95 Annual Fee