The Chase Ink Business Preferred® Credit Card is a top-notch business credit card that offers a generous 100,000 Ultimate Rewards points sign-up bonus after meeting the required spending threshold. This bonus alone makes it an attractive option for small business owners looking to maximize their rewards and take advantage of a range of business-related perks.
To earn this substantial welcome offer, cardholders need to spend $15,000 within the first three months of account opening. Besides the lucrative bonus, the Chase Ink Business Preferred® Credit Card also provides a competitive earnings structure, where users can earn 3x Ultimate Rewards points per $1 spent in select business categories. Combining the high-value sign-up bonus with ongoing rewards in common business spending categories makes this card a solid choice for many business owners.
Card Features
The Chase Ink Business Preferred® Credit Card is an attractive option for business owners and offers a range of benefits and features specifically designed for businesses. One of the main attractions is its sign-up bonus, which allows cardholders to earn 100,000 bonus points after spending $15,000 on purchases in the first three months after account opening.
Cardholders also benefit from a variety of rewards and benefits for everyday business expenses, making it an ideal choice for routine expenditures. For example, the card earns 3x points per $1 spent on the first $150,000 spent in combined purchases on travel, shipping, internet, cable, phone services, and advertising purchases every account anniversary year. After that and for all other purchases, the card earns 1x point per $1 spent.
In addition to the reward points, cardholders can also take advantage of numerous travel benefits such as trip cancellation/interruption insurance, auto rental collision damage waiver, and cell phone protection. These features, coupled with a 25% increase in point value when redeeming for travel through the Chase Ultimate Rewards portal, make the card an excellent choice for businesses with travel needs.
Here are some key features of the Chase Ink Business Preferred® Credit Card at a glance:
- 100,000 bonus points sign-up offer (requires $15,000 spend in the first 3 months)
- 3x points for select business categories, 1x points for all other purchases
- Travel, shipping, and advertising reward categories
- Redeem points for more value through Chase Ultimate Rewards
- Travel protections and benefits
- Cell phone protection plan
The Ink Business Preferred® Credit Card not only caters to businesses’ spending needs but also ensures that cardholders benefit from various rewards and protections, making it a reliable choice for business owners.
Sign-up Bonus
The Chase Ink Business Preferred® Credit Card offers an impressive sign-up bonus of 100,000 Ultimate Rewards points. To receive this bonus, cardholders need to spend $15,000 on purchases within the first three months after opening the account. This generous bonus is one of the highest available for a business credit card.
the 100,000-point bonus is worth at least $1,250 when redeemed for travel, making it an excellent value for businesses looking to reward themselves for everyday spending.
When redeeming points for travel through the Chase Ultimate Rewards portal, cardholders will receive 25% more value out of their points, making the 100,000-point bonus worth $1,250 instead of the standard $1,000 value when redeemed for cash or gift cards.
Some other options for maximizing the value of the 100,000-point bonus include:
- Transferring points to one of Chase’s airline or hotel partners, such as United Airlines, Southwest Airlines, or Hyatt Hotels, where points can be worth even more
- Redeeming points for statement credits or gift cards, though this usually offers a lower value per point
- Using points to offset the cost of travel expenses, including airfare, hotels, car rentals, and other related costs
Earning and Redeeming Points
The Chase Ink Business Preferred® Credit Card offers a highly competitive rewards structure for business owners. Cardholders can earn 3x Ultimate Rewards points per $1 spent on the first $150,000 in combined purchases every year on travel, shipping, internet, cable, and phone services, as well as advertising with social media and search engines. For all other purchases, the card offers 1 point per $1 spent.
One of the highlights of the card is its generous 100,000 points sign-up bonus. To qualify, cardholders must spend $15,000 on purchases within the first three months of account opening.
When it comes to redeeming Ultimate Rewards points, cardholders have access to various options through the Chase portal. Points can be further maximized by redeeming them for travel via the Chase Ultimate Rewards portal, where their value increases by 25%. Additionally, they can be transferred to several participating airline and hotel partners at a 1:1 ratio, leading to potentially even greater value.
Apart from travel rewards, there are other redemption options available, such as:
- Gift cards from popular restaurants, retailers, and services
- Amazon.com purchases by linking your card to your Amazon account
- Apple purchases via the Chase Pay With Points program
- Cashback through statement credits or direct deposit
It is important to note, however, that these alternative redemption methods may not provide the same value per point as travel-focused redemptions.
Additional Benefits
Besides the impressive 100,000 points sign-up bonus, the Chase Ink Business Preferred® Credit Card offers a range of additional benefits designed to meet the needs of small business owners. These advantages include travel insurance, protection for purchases, and cell phone protection.
One noteworthy advantage is the card’s comprehensive travel protection. Cardholders can enjoy trip cancellation and interruption insurance, which provides reimbursement when unforeseen events force changes in your travel plans. The card also offers primary auto rental collision damage waiver, which covers up to the actual cash value of a rental car in case of an accident, theft, or damage.
When shopping for your business with the Chase Ink Business Preferred® Credit Card, purchases are protected with an extended warranty and purchase protection. The extended warranty adds an additional year to the manufacturer’s warranty on eligible items, while purchase protection covers new purchases for up to 120 days against damage or theft.
Another valuable feature is the card’s cell phone protection, which provides coverage for up to three claims per 12-month period in the event of a damaged or stolen cell phone. This benefit can be particularly helpful for business owners who rely on their mobile devices for daily operations.
In summary, the additional benefits offered by the Chase Ink Business Preferred® Credit Card go beyond the 100,000 points sign-up bonus and provide valuable protections for both travel and day-to-day business purchases, making it a well-rounded option for small business owners.
Fees and Interest Rates
The Chase Ink Business Preferred® Credit Card comes with an annual fee of $95, which is relatively modest considering the generous sign-up bonus and rewards program offered by the card. There are no foreign transaction fees, making it a valuable tool for businesses with international purchases or travel.
Interest rates for the card are competitive with other similar business credit cards. The card has a variable APR which is determined based on your creditworthiness, so rates may vary for each cardholder. The current range for this card’s APR is between 15.99% and 20.99%.
For balance transfers and cash advances, there is a separate APR which tends to be higher than the purchase APR. It is important to carefully review the terms and conditions of the card before making any decisions on whether to carry a balance, transfer a balance, or take a cash advance.
Additional fees to be aware of include:
- Balance transfer fee: 5% of the amount transferred, with a minimum of $5
- Cash advance fee: 5% of the amount advanced, with a minimum of $15
- Late payment fee: Up to $39
- Returned payment fee: Up to $39
Additionally, it is important to note that exceeding the credit limit on the Chase Ink Business Preferred® Credit Card may result in penalties or an increased APR. For this reason, cardholders should monitor their account and stay within their credit limit to avoid any negative effects on their interest rates or fees.
Pros and Cons
The Chase Ink Business Preferred® Credit Card offers many advantages, as well as some drawbacks, for small business owners. In this section, we’ll outline several key pros and cons of this card.
Pros
- Sign-up Bonus: One of the most attractive features of the Chase Ink Business Preferred® Credit Card is its substantial sign-up bonus. Cardholders can earn a 100,000-point bonus after spending $15,000 on purchases in the first three months of account opening.
- High Rewards Rates: The card offers generous ongoing rewards in common business spending categories. This includes 3X points per $1 spent on travel, shipping, internet, cable, phone services, and advertising purchases on social media and search engines, up to $150,000 spent each account anniversary year.
- Transfer Partners: Chase Ultimate Rewards points can be transferred to various travel partners, providing flexibility and possibly higher redemption value for travel enthusiasts who prefer specific airlines or hotel chains.
- Travel and Purchase Protections: The card comes with several travel and purchase protections, such as trip cancellation/interruption insurance, primary auto rental collision damage waiver, and extended warranty protection.
Cons
- Annual Fee: The Chase Ink Business Preferred® Credit Card has a $95 annual fee, which may be a drawback for some business owners, especially if they do not anticipate taking full advantage of the card’s benefits.
- Limited Bonus Categories: While the card offers high rewards rates in specified categories, other types of purchases only earn 1X point per $1. Businesses with significant spending outside the bonus categories may find the rewards rate less appealing.
- Foreign Transaction Fee: Despite offering travel-related rewards, the card charges a 3% foreign transaction fee. This fee might be a concern for businesses with frequent international transactions or travel.
Who Should Get This Card
The Chase Ink Business Preferred® Credit Card is well-suited for small business owners who frequently spend on common business expenses. With a generous 100,000 Ultimate Rewards points sign-up bonus and high ongoing rewards in popular spending categories, this card can provide considerable value for those looking to maximize their rewards.
Entrepreneurs who travel regularly for business purposes can greatly benefit from this card as it offers 3X points for travel purchases, up to $150,000 combined spending in bonus categories. Additionally, the card provides valuable travel protection and insurance benefits, making it a reliable choice for frequent travelers.
Moreover, this card is an excellent option for businesses that have significant expenses in the areas of advertising, shipping, and internet, cable, or phone services, as it also earns 3x points in these categories, subject to the same $150,000 combined spending cap. In contrast, those with minimal expenses in these categories or who don’t have a small business may not see as much value from the Chase Ink Business Preferred® Credit Card.
Lastly, if your business can comfortably meet the requirement to spend $15,000 within the first three months of account opening to earn the lucrative sign-up bonus, this card could be a great addition to your wallet. However, if meeting this spending threshold will cause financial strain, it might be wise to explore other credit card options with lower initial spending requirements.
Conclusion
The Chase Ink Business Preferred® Credit Card offers an impressive 100,000-point sign-up bonus, worth considering for small business owners who aim to maximize their rewards. To earn this bonus, cardholders need to spend $15,000 within the first three months of account opening.
With a generous earning rate of 3 points per dollar in various categories, such as travel, shipping, internet, cable, and phone services, as well as advertising purchases made with social media and search engines, this card will help businesses accumulate valuable Ultimate Rewards points for various redemption options.
Furthermore, the Ink Business Preferred® Credit Card provides a suite of travel and purchase protection benefits, making it a valuable addition to any business owner’s wallet. Weigh the benefits and the annual fee to decide if this card is the right choice for your business.