Better together: Why the Ink Business Preferred and the Ink Business Cash are a great pair
Editor's note: This is a recurring post, regularly updated with new information and offers.
Some credit cards are just better together. We've written about some of the best credit card pairings that can unlock more redemption options or additional bonus categories.
But in this guide, we're diving into an iconic credit card pair: the Ink Business Preferred® Credit Card and the Ink Business Cash® Credit Card.
Comparing the Ink Business Preferred and Ink Business Cash
| Benefit details | Ink Business Preferred | Ink Business Cash |
|---|---|---|
| Sign-up bonus | 90,000 bonus points after spending $8,000 on purchases in the first three months from account opening | Earn up to $750: $350 bonus cash back after you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months from account opening. |
| Annual fee | $95 | None |
| Earning rates | 5 points per dollar on Lyft rides through March 2025
3 points per dollar on the first $150,000 spent each account anniversary year on travel, shipping purchases, internet, cable and phone services and advertising purchases with social media sites and search engines 1 point per dollar on everything else
| 5% cash back at office supply stores and on internet, cable and phone services on the first $25,000 spent in combined purchases each account anniversary year
5% cash back on Lyft rides through March 2025 2% cash back at gas stations and restaurants on the first $25,000 spent in combined purchases each account anniversary year 1% cash back on everything else |
| Best redemption options | Transfer to partners at a 1:1 ratio (TPG values Chase points at 2.05 cents each as of June 2024)
Chase Travel℠ (1.25 cents each) Cash back and gift cards (1 cent each) | Chase Travel, cash back and gift cards (1 cent each) |
| Standout benefits | Employee cards at no additional cost
Extended warranty protection, purchase protection and cellphone protection Trip cancellation/interruption insurance and auto rental collision damage waiver | Employee cards at no additional cost
Extended warranty protection and purchase protection Auto rental collision damage waiver |
Related: Your guide to the Chase Ink Business credit cards
Why pair the Ink Business Cash and the Ink Business Preferred cards?
Seeing their perks listed side by side, you may already have realized why the Ink Business Cash and the Ink Business Preferred are a great pair. But let's break it down.
Turn your cash-back into points
If you already have the Ink Business Cash, you can add redemption options and boost your redemption rates by adding the Ink Business Preferred to your wallet. This is because cash-back rewards earned by the Ink Business Cash can be converted to Chase Ultimate Rewards points when you have a card like the Ink Business Preferred.
By converting the cash-back rewards on your Ink Business Cash to Ultimate Rewards points on your Ink Business Preferred, you increase the rate at which you can redeem through Chase Travel from 1 cent per point to 1.25 cents per point. And you unlock 1:1 transfers to hotel and airline partners, such as World of Hyatt and United MileagePlus.
Having the Ink Business Cash alone means your rewards are capped at 1 cent apiece toward redemptions.
Related: The complete guide to Chase Ultimate Rewards
Boost your earning rates on select purchases
Suppose you already have the Ink Business Preferred. In that case, you can boost your Chase Ultimate Rewards earning rate without incurring additional annual fees by adding the no-annual-fee Ink Business Cash to your wallet.
If your business doesn't spend money at office supply stores or on internet, cable and phone services — and already has high-earning cards to use at gas stations and restaurants — the Ink Business Cash won't be particularly useful. However, most businesses that already have the Ink Business Preferred Card will find that adding the Ink Business Cash to their wallet will increase their earnings.
A similar calculation can happen for those with the Ink Business Cash but not the Ink Business Preferred. In this case, you're missing out on earning 3 points per dollar on these purchases (up to $150,000 in combined spending in a year):
- Travel
- Shipping purchases
- Advertising purchases with social media sites and search engines
Note that purchases for internet, cable and phone services already earn rewards at a higher rate on the Ink Business Cash. However, there's a reason you might want to sacrifice some rewards — which brings us to the final reason to pair these cards.
Unlock additional protections
The Ink Business Preferred includes additional coverage when you use the card for travel purchases — including trip cancellation and interruption protection and primary car rental coverage. You also enjoy purchase protection and an extended warranty when you charge eligible purchases to the card.
But the Ink Business Preferred also includes cellphone coverage. When you charge your monthly bill to the card, you and your employees listed on your company's phone account can be reimbursed for up to $1,000 per claim for theft or damage (subject to a $100 deductible per claim and limited to no more than three claims per 12-month period). Even though it lowers your earnings on these purchases from 5% on the Ink Business Cash to 3 points per dollar on the Ink Business Preferred, just a single claim for a stolen or damaged phone could more than make up for it.
Related: Who qualifies for a business credit card?
Other pairings to consider
You may prefer to pair a different card with your Ink Business Cash or Ink Business Preferred. Or, you might find adding a third card to your wallet useful. Here are some additional options to consider.
Add the Ink Business Unlimited
Businesses with ample non-bonus-category spending may find it useful to also add the no-annual-fee Ink Business Unlimited® Credit Card to their wallet to earn 1.5% cash-back rewards on every purchase. Plus, remember the 1.5% cash-back rewards can become 1.5 Ultimate Rewards points per dollar when paired with a card that earns Ultimate Rewards points.
This card offers $750 cash back after you spend $6,000 on purchases in the first three months of account opening.
Related: Ink Business Unlimited credit card review
Add a no-annual-fee personal card
Once you have the Ink Business Preferred, adding no-annual-fee Ultimate Rewards consumer cards, such as the Chase Freedom Unlimited® or Chase Freedom Flex®, to your wallet may make sense.
This is a particularly good idea if you'll use these cards for business expenses or if you're willing to transfer rewards earned on your personal spending to your business card's Ultimate Rewards account.
Related: Chase Freedom Flex vs. Chase Freedom Unlimited comparison
Skip the Ink Business Preferred Card
Suppose you already have the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve®. In that case, you may opt to forgo the Ink Business Preferred and collect rewards earned on your Ink Business Cash in your personal card's Ultimate Rewards account.
Consider Chase's 5/24 rule
One final consideration is where you stand with Chase's 5/24 rule.
This rule means you generally won't be approved for most Chase-issued cards if you've opened five or more personal credit cards across all banks in the last 24 months. Although you're unlikely to be approved for most Chase-issued cards if you are over 5/24, Chase-issued business cards don't count toward your 5/24 count. As a result, it's generally best to open the Chase-issued business cards you want first before moving on to other cards.
Related: 8 ways to maximize your chances of being approved for a credit card
Bottom line
The Ink Business Preferred and the Ink Business Cash are strong enough individually to make our list of best business credit cards. But they're even better when paired together. By holding both in your wallet, you can earn more points and have more valuable redemption options than you would with just one of them.
To learn more, read our full reviews of the Ink Business Preferred and Ink Business Cash.
Apply here: Ink Business Preferred Credit Card
Apply here: Ink Business Cash Credit Card
Related: The power of the Chase Trifecta: Sapphire Reserve, Ink Preferred and Freedom Unlimited