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Ink Business Preferred℠ Credit Card
Annual Fee: $95
Credit Needed: Excellent
Rewards Program and Signup Bonuses*:
- 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
Small business owners love the accelerated rewards they are able to earn through the Chase Ink Business Preferred℠ Credit Card, and the flexibility to transfer their rewards to frequent flier programs, or take cash back rewards.
The ability to take advantage of 20% off pricing with Chase Ultimate Rewards® travel partners helps too.
And now that the Ink Plus® Premium Business Rewards Card has been replaced by the new Ink Business Preferred℠ Credit Card, small business owners can earn more rewards than ever.
Rewards Program Explained
With the Ink Business Preferred℠ Credit Card you get the opportunity to earn a fantastic welcome bonus: 80,000 bonus points by spending $5,000 on purchase in your first three months.
Since each Ultimate Rewards® point is worth 25% more when redeemed for travel, that's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
Of course, you will also be able to earn rewards points with your regular spending.
There are several "select" bonus categories where you can earn the 3 rewards points per $1 spent. These are
- Shipping purchases
- Internet, cable and phone services
- Advertising purchases made with social media sites and search engines
Just remember, these bonus categories (1) only apply to your combined first $150,000 of spending in those categories (then 1%), and (2) are applied to your account on each account anniversary.
Plus, you can earn extra rewards from partner merchants when you shop online through Chase Ultimate Rewards®.
All other spending will earn you 1 point per $1 spent.
Redeeming Your Rewards
With the Ink Business Preferred card, you will earn rewards points that you can redeem for cash or through Chase Ultimate Rewards®.
Another great benefit of Chase Ink Business Preferred℠ is you can combine your business card rewards with all other rewards you earn with eligible Chase cards. And, since your rewards points will not expire as long as your account remains open, you can stockpile a lot of points if you are saving up for a big trip.
Redeeming your rewards points through Chase Ultimate Rewards® provides you with some great options. And, since the lowest redemption options available still offer you $0.01 over point, you do not have any bad redemption options. In fact, we consider Chase to offer one of the best programs around for redeeming rewards points.
With Chase Ultimate Rewards points, you can take advantage of 1:1 point transfer to leading frequent travel programs (such as United, Southwest, Virgin Atlantic, British Airways, Hyatt, and Marriott).
You can also redeem points for vacation packages, cruises or fly any class on most major airlines. Redeeming points for travel packages means there are no restrictions or blackout dates on airfare booked through Chase Ultimate Rewards.
And you will be able to get 20% off airfare, hotels, car rentals and cruises when you redeem your points through Chase Ultimate Rewards. For example, a $625 flight requires just 50,000 points (which is equivalent to $500 cash back).
(FYI, this is the same as saying your points are worth 25% more when redeemed for travel purchases through the Ultimate Rewards portal.
You can redeem for cash back as a statement credit to apply toward your balance, or get it directly deposited to most U.S. checking and savings accounts. Cash back redemptions are at a 1:1 value starting at 2,000 points for $20 cash back.
Shop with Points on Amazon
Through Chase's partnership with Amazon.com, you can instantly redeem your points to pay for all or part of the your eligible Amazon purchases (including tax and shipping).
- Redeem your points for gift cards from major retailers.
- Redeem rewards for adventures like golf lessons or scuba diving.
Additional Card Benefits
Other benefits built into the Ink Preferred card include*:
- 20% off travel when booked through Chase Ultimate Rewards.
- No foreign transaction fees on international purchases.
- Purchase Protection covers your new purchases for 120 days against damage or theft, up to $10,000 per claim and $50,000 per account.
- Extended Warranty Protection extends the time period of the U.S. manufacturer's warranty by an additional year, on eligible warranties of three years or less.
- Return Protection reimburses you for eligible items that the store won't take back within 90 days of purchase, up to $500 per item, $1,000 per year.
- Trip Cancellation/Trip Interruption Insurance protection covers you if your trip is canceled or cut short by sickness, severe weather and other covered situations. You can be reimbursed up to $5,000 per trip for your prepaid, nonrefundable travel expenses, including passenger fares, tours and hotels.
Interest and Fees
This card does come with a $95 annual. And this fee is not waived for the first year.
Negatives for the Ink Business Preferred℠ Credit Card include the annual fee ( and lack of an introductory APR financing offer. However, the 16.49% - 21.49% variable APR for purchases and transfers is reasonable.
You should also note that all additional employee cards are free.
The Bottom Line
Chase Ink Business Preferred℠ Credit Card is a great card for any small business owner. But we especially recommend it for business owners who can take full advantage of the discounts available by booking travel through the Chase Ultimate Rewards travel program. Just make sure your preferred travel partners are included.
- Great rewards program lets you earn lots of rewards points
- Flexible reward redemption options
- 20% off travel booked through Chase
- No foreign transaction fee
- Annual fee ($95)
- Requires excellent credit
- Have to wait for annual anniversary to receive rewards bonus
- No intro financing period