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The Chase Ink Business Preferred is known for its enticing 100,000 points sign-up bonus. But does the card have other features to brag about, or is it simply a one-hit wonder?
Let’s explore the value this card can bring to your company and how it stacks up against other business cards in the arena.
This article will include:
- All the Chase Ink Business Preferred benefits and drawbacks.
- A breakdown of the Chase Ink points and rewards.
- The Chase Ink Business card requirements and credit scores.
Read more:
- Credit Card Perks
- Best Business Credit Cards
- The Best Chase Credit Card for You
- Chase Sapphire Preferred versus Sapphire Reserve
Our Verdict
The Chase Ink Business Preferred Credit Card is excellent for businesses seeking robust rewards and a solid sign-up bonus. You can earn 3x points (up to $150,000 annually) in corporate categories. But after passing the threshold, your rewards drop to a subpar 1x points. Key features include 1:1 point transfers to travel partners, trip insurance, extended warranty, and cell phone insurance.
4.4
Chase Ink Business Preferred: On FIRE Score
| Annual Fee | annual_fees | 5/5 |
| APR | reg_apr,reg_apr_type | 4/5 |
| Intro Offer | bonus_miles_full | 5/5 |
| Maximum Rewards | 3x points (shipping, advertising, travel, internet, cable, and phone services). | 4/5 |
| Everyday Rewards | 1x points for all other purchases. | 4/5 |
| On FIRE Score | 4.4/5 |
What Is the Chase Ink Business Preferred Credit Card?
The Chase Ink Business Preferred Credit Card is a fantastic choice for businesses looking to supercharge their rewards and streamline their finances. And it’s one of my favorites in the business credit card world.
The card gives you one of the best sign-up offers, with 100,000 bonus points up for grabs. Plus, it racks up a solid 3x points for everyday business spending. These points can be your ticket to discounted travel, cash back, or even transferring to various airline and hotel loyalty programs.
How Does the Chase Ink Business Preferred Card Work?
One of the key features of this card is the sign-up bonus—after spending $8,000 in the first three months, you’ll earn 100,000 bonus points. Of course, spending this amount in a limited time frame isn’t accessible to everyone. So, this sign-up bonus only brings enough value for businesses with enough natural expenditure to appreciate the returns.
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You’ll also get 3x points for every $1 spent with a $150,000 spending cap—this will reset every account anniversary year. You can stack up on points with combined purchases in these categories:
- Shipping purchases
- Advertising purchases made with social media sites and search engines
- Internet, cable, and phone services
- Travel
If you go over the $150,000 spending cap within the account anniversary year, you only earn 1x for each $1 spent, with no maximum limit.
If you spend the full $150,000, you’ll get a total of 450,000 points. That’s around $9,000 in value since Chase points are worth around 2 cents each.
You can use your points to redeem for cash, gift cards, travel, and the Apple® Ultimate Rewards Store through the Chase Ultimate Rewards program.
The card also comes with standard business benefits, like quarterly reports and 24 months of statement details. Employee cards come at no extra cost and will let you keep a close eye on your team’s purchases while setting limits for any compulsive spenders.
Employees are counted as authorized users on your account, so you’ll be responsible for all the purchases on the employee cards. But that also means you can get more points based on their spending.
Other handy features include:
- 5x points on Lyft Rides
- 1:1 point transfer on hotels and airlines
- Trip cancellation and trip interruption insurance
- Purchase and extended warranty protection
- Chase Ink cell phone insurance
Chase Ink Business Preferred: Fees
| Details | Metric |
| Annual fee | annual_fees |
| Regular APR | reg_apr,reg_apr_type |
| Cash advance APR | cash_advance_apr |
| Balance transfer APR | balance_transfer_rate |
| Cash advance fee | cash_advance_fee |
| Balance transfer fee | balance_transfer_fees |
| Foreign transaction fee | foreign_transaction_fee |
| Returned payment fee | $40 |
| Late fee | late_payment_fee |
Chase Ink Business Preferred Credit Card: Pros and Cons
Here’s a round-up of all the pros and what you should watch out for:
Pros
- Generous sign-up bonus of 100,000 bonus points.
- Solid rewards rate with potential 3x points.
- Valuable travel redemption options.
- No foreign transaction fees.
- Travel insurance and purchase protection.
Cons
- $95 annual fee.
- No 0% intro APR offer.
- High spending to reach maximum rewards.
- Non-bonus categories only offer 1x points.
Why I like it
Generous sign-up bonus
The Chase Ink Business Preferred Card starts with a bang. You get 100,000 bonus points for spending $8,000 in the first three months, which equates to $1,000 cash back or $1,250 toward travel rewards when you redeem through Chase Ultimate Rewards.
Let’s compare that to the Ink Business Premier Credit Card, which earns you a $1,000 bonus cash back after you spend $10,000 in your first three months. The Ink Business Preferred comes out on top, offering the same cash back but with less spending required.
Solid rewards rate
You’ll receive 3x points for every dollar you spend, up to a cap of $150,000, with the limit refreshing every year. After reaching the $150,000 cap, you’ll start earning 1x points until the account year starts over.
You can earn points through combined purchases on shipping expenses, advertising, internet, cable, and phone services, and travel-related costs. So, if you don’t have a legitimate business and a decent amount to spend, this isn’t the card for you.
For more rewards, check out the best cash back credit cards.
Valuable travel redemption options
If you’re a frequent jetsetter, you can maximize your points by redeeming them for travel. Points are worth 25% more when you redeem them through Chase Ultimate Rewards.
So, if you amass 100,000 points, you’ll get around $1,250 towards travel. Plus, you can transfer your Chase Ultimate Rewards points to frequent travel programs at a 1:1 ratio. And there’s plenty to choose from—partnered hotels and airlines include British Airways, Emirates Skywards, Iberia Plus, and World of Hyatt.
Planning your next business trip? Take a look at the top travel cards with cash back.
No foreign transaction fees
Your travel perks won’t be hampered by any pesky international fees. If your business involves international travel or purchases from foreign vendors, this is a big win.
Insurance and protection
If your company buys tons of new tech, you’ll appreciate some peace of mind (especially if you’re working with klutzy colleagues).
Chase offers purchase protection to cover new purchases for 120 days. This includes protection against damage or theft up to $10,000 per claim and $50,000 per account. You can also get cell phone protection of up to $1,000 per claim against theft or damage for you and your employees.
Within the U.S. and abroad, you’ll also get car rental insurance covering theft and collision damage when you’re using the car for business purposes. And if a mysterious illness happens to sweep the office, you’ll also get trip cancellation insurance of up to $5,000 per person and $10,000 per trip.
Find out more about credit card perks and travel insurance benefits.
Why you may want a different card
$95 annual fee
The card_name comes with a annual_fees annual fee. While it’s not the highest fee in the market, it’s still an additional cost.
And it doesn’t look great when you compare it to other Chase Ink cards, with neither the card_name nor card_name having an annual fee. (Though it’s worth pointing out that neither of these cards comes with the 3x maximum rewards either.)
No 0% intro APR offer
This card sadly doesn’t offer a 0% introductory APR period, which means you’ll be subject to the regular APR rates from day one.
If you need to carry a balance, you can explore other options with lower introduction interest rates. For example, the card_name and the card_name both have a 0% APR for the first twelve months.
High spending to reach maximum rewards
To get that 100,000 points ($1,000 in cash back value) sign-up bonus, you’ll need to spend $8,000 in just three months. If your business doesn’t have substantial expenses, it might take longer to reap the full benefits.
In comparison, the card_name only requires you to spend $6,000 in three months to get the $900 cash back (That’s only $100 less than what you get from Ink Business Preferred.)
Non-bonus categories
To earn the maximum 3x points, your spending has to fall into specific business categories. If you’re spending goes elsewhere, you’ll only get a mere 1x points, which is pretty low and won’t generate valuable returns.
If the Ink Business Preferred isn’t a perfect match, find the best Chase credit card for you.
Chase Ink Business Preferred Card: Additional Things to Know
How to apply for the Chase Business credit card?
Applying for the Chase Ink Business Preferred or any Chase business credit card is pretty simple. Head over to their website and either apply as a guest or sign in for a faster process.
You’ll have to provide personal details, including:
- Name and date of birth
- Social security number
- Address, email, and phone number
- Total annual gross income
And your business details:
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- Business structure and name
- Tax ID (EIN, ITIN, or SSN)
- Number of employees
- Business established date
- Business type and NAICS code
- Annual business revenue and estimated monthly spend
It goes without saying, that you’ll need all your personal and business information ready before you dive into the application.
And why do they need your whole life story? Chase uses it to check the legitimacy of your business to evaluate your creditworthiness. You’ll also need a credit score of 670 or higher to be approved, which is good to excellent on the FICO scale.
Which is better: Ink Business Preferred vs. Business Unlimited?
The Ink Business Preferred comes out on top with its 100,000 bonus points sign-up offer and higher rewards rates on specific categories. Points are also worth 25% more when you redeem through travel, so this card could be well-suited for those on the move.
But while the Chase Ink Business Preferred sign-up bonus is the stand-out feature, you’ll need to spend a large amount in just three months to get it. Plus, the chance to earn 3x points is only limited to certain categories.
On the other hand, Ink Business Unlimited keeps it simple and flat, with an unlimited 1.5% cash back on all purchases. It’s a better option if your business expenses are more diverse and don’t fall heavily into specific bonus categories.
Plus, it has no annual fee and a lower spending threshold to earn the welcome bonus–so it’s a great choice for businesses with smaller budgets.
Looking for a personal credit card? Find out more about Chase Sapphire Preferred vs. Sapphire Reserve.
Is the Chase Ink Business Preferred hard to get?
If you have a credit score of 670 or higher, good financial standing, and a legitimate business—the Chase Ink Preferred shouldn’t be too challenging to get your hands on.
Chase typically looks at your personal credit score and your business’s revenue and expenses. So, even though it’s a business card, Chase still needs to assess your creditworthiness to make sure you can manage your business credit responsibly.
Chase also applies the 5/24 rule to their credit cards, meaning you have less chance of getting approved if you’ve opened five or more new credit card accounts in the last 24 months (with any bank).
Here’s how you can boost your chances of getting approved:
- Decrease your credit utilization ratio by paying down balances on existing credit cards.
- Avoid applying for new credit cards before trying to secure the Ink Business Preferred.
- When applying, list your total annual income, including taxable and non-taxable sources.
- Open a business bank account with Chase.
How to Maximize Points With the Chase Ink Business Preferred
Our Verdict
The Chase Ink Business Preferred Credit Card is excellent for businesses seeking robust rewards and a solid sign-up bonus. You can earn 3x points (up to $150,000 annually) in corporate categories. But after passing the threshold, your rewards drop to a subpar 1x points. Key features include 1:1 point transfers to travel partners, trip insurance, extended warranty, and cell phone insurance.
4.4
Having a Chase Bank business card can bring nice benefits, but playing the points game is where you really step up the value.
Here are some tips to stretch your Chase Ink Business Preferred rewards—
Welcome offer
Start by nailing the sign-up bonus. To get those 100,000 bonus points, you’ll need to spend $8,000 in the first three months. So, if you have big business expenses or planned purchases, this is the time to use the Preferred card.
Rewards
Before committing, make sure your spending aligns with Chase Ink Preferred’s bonus categories to earn the maximum 3x points. If you’re outside those categories, you’ll be stuck with 1x points. This is pretty lousy—especially compared to Ink Business Unlimited, which offers a flat rate of 1.5% points on all purchases.
Here’s a reminder of the bonus categories:
- Shipping purchases
- Advertising purchases made with social media sites and search engines
- Internet, cable, and phone services
- Travel
If you own more than one Chase card, you can also combine your points by transferring them. You can do this within your own accounts or to another person’s account (as long as they are a member of your household). So, if card A has 100 points and card B has 200, you can move A points to B to make it 300 points.
The goal of combining points is to increase value and get better redemption options. For example, if you transfer your points to the card_name, you get 50% more value when you redeem for travel–double the value you would get from the Ink Business Preferred.
To get started, simply go to your account and click “Redeem” next to your rewards balance. This will take you to the Ultimate Rewards Platform where you can click the “Reward details” tab to select “Combine points”.
Travel
Not only will you get 3x points when booking airfare (an estimated 6% return), but you’ll also get 25% more value when you redeem your points for travel through the Ultimate Rewards platform. For example, 100,000 points are worth around $1,250 when redeemed for travel purchases.
Here are all the participating airlines and hotels that offer 1:1 value:
- Aer Lingus AerClub
- Air Canada Aeroplan
- British Airways Executive Club
- Emirates Skywards®
- Flying Blue AIR FRANCE KLM
- Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards®
- United MileagePlus®
- Virgin Atlantic Flying Club
- Hotel Travel Partners
- IHG® One Rewards Club
- Marriott Bonvoy®
- World of Hyatt
Transferring to certain travel programs can stretch your points even further, such as Southwest Rapid Rewards bringing the value up to roughly 1.5 cents per point and the World of Hyatt up to an average of 2.3 cents per point.
Best Cards to Pair With the Chase Ink Business Preferred Card
While the Ink Business Preferred offers great travel redemption, the Sapphire Reserve trumps it by offering 50% more value when you redeem for travel through Chase. So, if you’re a frequent traveler, combine the Ink Preferred Card with Sapphire Reserve to get an impressive 5x total points on travel purchased through Chase Ultimate Rewards and 2x on other travel purchases.
The card_name can also be a handy catch-all card as it offers 3x points on dining, 3x points on online grocery purchases (excluding Target, Walmart, and wholesale clubs), and 3x points on select streaming services.
And if you want to steer away from Chase and focus on those dining rewards, the card_name is worth some attention. It comes with a less than impressive $250 annual fee but offers 4x points on groceries and restaurants and 3x points on flights. So, for all the big food spenders, this could be a valuable pairing.
Alternatives to the Chase Ink Business Preferred Credit Card
If the Ink Business Preferred has left you wanting more, here are a few more combinations and alternatives–
Chase Ink Business Preferred Credit Card: Useful Links
- Find out more on the Chase Ink Business Preferred website.
- Chase Ink Business Preferred application.
- Chase Business phone numbers and customer service.
- Learn more on the Chase FAQ page.
- Consumer Financial Protection Bureau’s website.
Chase Ink Business Preferred Card Customer Reviews
To help you get a better insight, here are some firsthand reviews–
One cardholder highlighted the card’s business benefits, “This card is perfect for everyday business transactions. The limit is high enough to allow freedom to purchase when needed without worry. Chase Ink has and will allow our business to make more money. Great rates and solid rewards.”
Another explained how the card didn’t meet expectations, “Great customer service…However, for the amount of usage this card gets, my Amex business card has better benefits and transfers, such as big-name hotel/car discounts, lounge access, and amazing airline transfers with bonus points over a certain amount. Chase really needs to step up to keep its business customers with similar spending.”
One customer had a mixed experience, “I love this card, but I wish it had similar rewards as my Chase Sapphire Preferred or Reserved. Since those cards are for personal use, I don’t use them when dining out with potential clients. As a result, I’m going to only use Chase Ink for purchasing travel, since I get better rewards with my other business cards. However, it’s a solid business credit card with great rewards and customer service.”
Is the Ink Business Preferred Worth It?
The Chase Ink Business Preferred card can be great value for businesses—and it proves to be more than its enticing 100,000 points sign-up bonus.
One standout feature is the card’s bonus categories. You earn triple points on essential business expenses like travel, shipping, and advertising. So, if your business frequently incurs costs in these areas, the rewards can add up quickly.
On the flip side, if your business doesn’t align with the Chase Ink bonus categories, this could be a dealbreaker as it seriously limits your reward potential. Plus, there are better credit card options like the Ink Ultimate Card for straightforward cash back or everyday spending rewards. And for frequent jetsetters, you may be better off opting for a card with more travel rewards, such as the Capital One Venture X Business.
Apply for the card_name
FAQ
What credit score is needed for Chase Ink Business Preferred?
The Chase Ink Business Preferred card credit score ranges from good to excellent, which generally means a score of 690 or higher. However, your credit score is just one part of the approval equation. Your business’s financials and creditworthiness will also play a role. So, it’s worth checking your credit and ensuring your business is in good financial shape before applying.
What is the credit limit for Chase Ink Business Preferred?
The minimum credit limit for the Chase Ink Business Preferred is $5,000, with the maximum going up to $25,000 if you’re willing to provide additional information.
It’s not a one-size-fits-all scenario. The credit limit you’ll receive depends on various factors, including your credit history, income, and the financial health of your business.
How long to get approved for Chase Business Preferred Ink?
In some cases, you may get a decision instantly upon applying online. However, it can also take up to 14 business days, especially if Chase needs to verify any business information.
If you’re already a Chase customer, your application may go through faster as they could already have important information verified. You’ll also receive a quicker decision if you apply on the phone, at a branch, or online, rather than by mail.
Our Methodology
Our credit card reviews aim to provide a comprehensive assessment of both quantitative and qualitative factors. The quantitative analysis focuses on the financial costs and benefits associated with each card, including interest rates, fees, rewards programs, cash-back offers, and other monetary perks. However, we also consider qualitative aspects that impact the everyday use and value of the card. These include the simplicity of the application process, the structure of the rewards program, the likelihood of utilizing certain card features, and the suitability of the card for frequent or infrequent use. Our On FIRE rating system allows for quick comparisons between cards within a particular category. When choosing a new credit card, consumers should weigh the quantitative dollar amounts along with qualitative ease-of-use factors to select the best overall option for their needs.
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Physician on FIRE has partnered with CardRatings for our coverage of credit card products. Physician on FIRE and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact on how and where card products appear on the site. POF does not include all card companies or all available card offers. Credit Card Providers determine the underwriting criteria necessary for approval, you should review each Provider's terms and conditions to determine which card works for you and your personal financial situation.
Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
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