5 reasons to get the Chase Ink Business Preferred credit card

Mar 20, 2020

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The Ink Business Preferred Credit Card quickly became one of the most popular small business credit cards after its launch in October 2016. The reasons are compelling: A strong sign-up bonus, the ability to earn triple points in many categories, multiple options for redeeming those points and unique benefits such as cell phone protection that aren’t offered by other cards. Best of all, the annual fee is only $95 — a bargain, particularly when you compare it to the American Express® Business Gold Card, which costs $295 annually (see rates & fees), and the Business Platinum Card® from American Express, which charges $595 (see rates & fees).

The information for the Ink Business Preferred has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

If you’re considering getting the Ink Business Preferred card, remember that it falls under Chase’s 5/24 rule. That means if you’ve opened five or more credit card accounts in the past two years, you’ll probably be declined regardless of how credit-worthy you are. To increase your odds of acceptance, make sure you apply for this card before any others.

Here are the top reasons why the Chase Ink Business Preferred Card might be worth it for you.

In This Post

1. A High Sign-Up Bonus

After you spend $15,000 in the first three months, you’ll be rewarded with 100,000 Chase Ultimate Rewards points (enough for a round-trip business-class ticket on some airlines). Ultimate Rewards points are among the most valuable points currencies around and the bonus is worth $2,000 according to TPG’s most recent valuations. In addition, they transfer to many airline and hotel loyalty programs.

You know your spending patterns better than anyone, so you can assess whether the spending requirement of $15,000 in three months is easily achievable. The best course is to time your application ahead of a period when you know you’ll have major expenditures.

2. Earn Bonus Points Across a Variety of Categories

Not only are Chase Ultimate Rewards some of the most valuable points out there, but the Ink Business Preferred Card also enables you to accumulate them quickly. You’ll earn 3 points per dollar on the first $150,000 in combined purchases each account anniversary year spent in these categories:

  • Travel
  • Shipping
  • Internet, cable and phone
  • Advertising on search engines and social media sites

All other purchases earn one point per dollar.

(Photo by Luke Stackpoole via Unsplash)
Earn 3 points per dollar on the first $150,000 on travel, including taxis. (Photo by Luke Stackpoole via Unsplash)

3. Plenty of Ways to Redeem Points

This is another area where the Ink Business Preferred card really shines. Chase Ultimate Rewards points transfer to ten different airline partners:

When you take alliance partners into account, this gives you an incredibly wide range of airline options. British Airways Avios, for example, give you access to Oneworld alliance members such as American, Finnair and Japan Airlines. In addition, your points transfer to four hotel programs:

Points transfer to all partners at a 1:1 ratio, and most transactions are instant. You can also choose to redeem your points for 1.25 cents each (or 1.5 cents apiece if you also have the Chase Sapphire Reserve and combine your points with that account) through the Chase Travel Portal. Plus, you’ll accrue frequent flyer miles on any flight bookings made through Chase, since they’re treated as paid tickets.

4. Cell Phone, Travel and Purchase Protection

How many times have you dropped, damaged or misplaced your cell phone? The Ink Business Preferred is one of the few credit cards to offer cell phone protection to help you in this very situation. You and your employees listed on your phone bill are covered for up to $600 in theft or damages per claim, provided the number is listed on your monthly bill and you pay your bill with your card. There’s a limit of three claims per 12-month period, with a $100 deductible per claim.

The Ink Business Preferred Card also offers a host of travel benefits for the road warrior:

Primary Car Rental Insurance — If you decline the Collision Damage Waiver at the rental company counter and pay for the rental with your Ink Business Preferred Card, you’re covered for physical damage and theft, towing and loss of use charges up to the full value of the vehicle. This is primary coverage, which means you don’t need to file a claim with your personal insurance company. Liability (damage to other persons or vehicles) is not covered. Rentals must be for business purposes within the US, although personal rentals are covered for international trips.

Trip Delay and Cancellation Insurance — If your trip is canceled due to a covered condition (such as illness or severe weather), you can be compensated up to $5,000 for pre-paid expenses such as airfare or hotels. For a delay of 12 hours or more, you can be reimbursed up to $500 for your hotel room, meals and transportation (documentation from the airline is required to verify the flight delay). In both cases, you’ll need to pay with your card and keep receipts.

Lost Luggage Reimbursement — When charging your fare to the card, each traveler is covered up to $3,000 for the loss of either checked or carry-on baggage. Reimbursement for items such as jewelry, watches, cameras and electronic equipment is limited to $500 per person.

Baggage Delay Insurance — If your baggage is delayed for more than six hours, this benefit provides up to $100 per day for five days for the purchase of essential items.

Travel Accident Insurance — You and your traveling companions are covered up to $500,000 for accidental death or dismemberment while traveling on a common carrier.

Purchase Protection — If you buy an item that is stolen or damaged within 120 days, you’re covered up to $10,000 per claim, with a limit of $50,000 per account. At least some part of the purchase price must be charged to the card.

Items not covered include animals and living plants; boats, cars and other motorized vehicles; items purchased for resale; medical equipment; perishable and cosmetics; computer software, and items under the control of a common carrier (such as checked baggage, which is covered elsewhere). This benefit can be extremely important to a small business owner purchasing office furniture or electronic equipment.

(Photo by Mohamed Lammah via Unsplash)
Get some peace of mind, thanks to cell phone coverage. Photo by Mohamed Lammah via Unsplash.

5. Pool Your Points From Other Chase Cards

Chase offers three products that are essentially cash-back cards: The Chase Freedom, Chase Freedom Unlimited and Ink Business Cash Credit Card. However, those cards also earn points that can be transferred to Ultimate Rewards points (provided you have a card that earns Ultimate Rewards points, such as the Ink Business Preferred). Having the Ink Business Preferred Credit Card enables you to enhance the value of other Chase cards in your wallet.

The information for the Ink Business Cash, Chase Freedom and Chase Freedom Unlimited has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Additional Benefits

Along with the perks outlined above, the Ink Business Preferred offers other important benefits:

  • Employee cards at no extra cost
  • No foreign transaction fees for purchases made outside the U.S.
  • Zero liability protection (you won’t be held responsible for unauthorized charges)
  • Fraud protection with real-time account monitoring
  • Extended warranty protection (adds a year on eligible U.S. manufacturer’s warranties of three years or less)

Bottom Line

For a small business card, the Ink Business Preferred Credit Card offers an almost unbeatable combination: A strong sign-up bonus, generous point earning, the ability to transfer points to 13 travel partners and a comprehensive collection of travel protections.

For rates and fees of the Amex Business Platinum, please click here.

For rates and fees of the Amex Business Gold, click here.

Featured photo by The Points Guy

Chase Sapphire Preferred® Card

WELCOME OFFER: 60,000 Points

TPG'S BONUS VALUATION*: $1,200

CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

Apply Now
More Things to Know
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
Intro APR on Purchases
N/A
Regular APR
17.49% - 24.49% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit
Excellent/Good

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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