Ink Business Preferred℠credit card
The Chase Ink Business Preferred card is a relatively new entrant into the travel rewards space. The card has a generous sign-up bonus, a unique reward earning scheme and is part of the flexible Ultimate Rewards program.
The sign-up bonus is 80,000 points after spending $5,000 in the first 3 months of account opening. That’s worth $1,000 or more in travel purchases. Outside of the 100,000 points sign-up bonus that was available when the Sapphire Reserve card was first released, this is one of the highest publicly available offers we have ever seen for a Chase Ultimate Rewards card.
Ultimate Rewards is one of the most valuable and flexible rewards programs in the travel credit card industry. Chase has 11 Ultimate Rewards transfer partners, including a nice mix of airlines and hotels, which makes it easier to maximize the value of your awards. The card also offers the ability to redeem points for travel at a fixed rate of 1.25 cents per point through Chase’s travel portal. This puts a nice floor under the value of your points.
The card has a wide variety of 3X bonus categories. You can earn 3 points per dollar spent on travel, shipping, internet, phone, cable and online advertising for up to a combined total of $150,000 per year. Maxing out these categories would result in earning 450,000 Ultimate Rewards, which is enough for a lot of free travel.
Bonuses and Benefits
Knowing what benefits come with a credit card can help you decide if it’s a good fit for you. Here we cover the bonuses and perks that the Ink Business Preferred℠credit card offers and the value of the Chase Ultimate Rewards® points you earn.
The current sign-up bonus for the Ink Preferred card is 80,000 points after spending $5,000 in the first 3 months. This is the highest sign-up bonus currently available for any Ulitmate Rewards card. The sign-up bonus is worth at least $1,000 in travel since points can be redeemd at a fixed rate of 1.25 cents per point. For Chase’s no-annual fee cards, points are worth 1 cent each, so this is a 25 bonus bonus over the standard rate. However, by utilizing Chase’s diverse network of transfer partners, it is possible to get significantly more value than this.
What You Get
- Earn 80,000 points after you spend $5,000 on purchases in the first 3 months
- points are worth 25% when redeeming through Chase’s online travel portal
Ultimate Rewards never expire as long as you keep your account open. Also, points can be freely transferred between all of your Ultimate Rewards cards, so if you plan to close an account, you can simply transfer those points to another card. If you transfer points to Chase’s travel partners, the points will then be subject to each partners’ own expiration rules, so it’s best to keep points in your Ultimate Rewards account until you are ready to use them.
What is the value of the Ultimate Rewards® Points?
Chase has a variety of great transfer partners. Some of the best include the following: United Airlines, which opens up access to the huge Star Alliance network of carriers; British Airways, offering great value on short-haul nonstop flights due to their distance-based award chart; Korean Airlines, with amazing award availability in their first class cabins; and Hyatt, which is widely recognized as offering some of the highest value point redemption opportunities of any hotel chain.
If you buy travel through the Ultimate Rewards® website, you’ll get a value of 1.25 CPM
What is CPM and How Is It Calculated?
Cents Per Mile (CPM) is a way to measure the value of miles. It tells you how many cents you get for each mile you redeem by dividing the cash price of the airline ticket (minus taxes and fees charged for an award ticket) by the number of miles the award flight costs. This is a somewhat subjective calculation because the price of the flight in both cash and miles fluctuates by season and availability.
How we calculate CPM:
The Best Ways to Redeem Chase Points
The flexibility of Ultimate Rewards offers redemption opportunities for all types of travelers. Here are a few examples of the best ways to redeem for specific types of travel goals.
For international premium cabin flights: United (via Star Alliance partners), Singapore Airlines and Korean Airlines all offer good options and these types of aspirational redemptions can result in very high CPM values.
For cheap domestic economy flights: British Airways and Southwest are great options. And if you have a companion pass with either carrier, your Ultimate Rewards points will stretch even further.
For hotel stays: Hyatt consistently offers redemption values of over 1.25 cents per point. For other hotels, you may be better off getting the 1.25 fixed value by booking through Chase’s portal rather than transferring points to the hotel and making an award booking.
Atlanta–Fort LauderdaleEconomy classMiles price11,760points+$0 feeDollars price$147
Washington–Los AngelesEconomy classMiles price20,000points+$26.0 feeDollars price$337
Washington–HonoluluEconomy classMiles price25,000points+$20.0 feeDollars price$994
Miami–LimaEconomy classMiles price25,000points+$68.0 feeDollars price$527
San Francisco–SeoulEconomy classMiles price70,000points+$359.0 feeDollars price$1,211
Las Vegas–San JoseEconomy classMiles price27,680points+$0 feeDollars price$346
Los Angeles–HonoluluBusiness classMiles price45,000points+$10.0 feeDollars price$854
Miami–HoustonBusiness classMiles price30,000points+$13.0 feeDollars price$551
Pittsburg–WashingtonBusiness classMiles price32,880points+$0.0 feeDollars price$411
Washington–ParisBusiness classMiles price80,000points+$646.0 feeDollars price$3,214
New York–MoscowBusiness classMiles price140,000points+$136.0 feeDollars price$2,982
New York–Punta CanaBusiness classMiles price30,000points+$47.0 feeDollars price$886
Other ways you can redeem points
Hotel Stays4 partners4 part.
Chase has four hotel transfer partners, though in most cases Hyatt is the only one that offers good value for your points.
Gift Cards100 partners100 part.
You can redeem for gift cards from over 100 retail partners at a rate of 1 cent per point.
Cash back is available in the form of statement credits at a rate of 1 cent per point.
The Ink Preferred card has several bonus categories that should be useful for many small businesses. You can earn 3 points per dollar spent on travel, shipping, internet, cable, phone services and advertising purchased from social media sites and search engines. There is cap of $150,000 per cardmember year for earning 3x in all these categories combined. The shipping and online advertising bonus categories are pretty unique and present a new way to rack up points.
- All Other Purchases
Chase has a very broad definition of travel, so almost any travel-related expense should code properly and earn triple points. Travel category merchants include airlines, hotels, motels, timeshares, campgrounds, car rental agencies, cruise lines, travel agencies, discount travel sites, and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages.
No Foreign Transaction Fees
Never pay a fee to use your card, even if your traveling interntionally.
Fees: the cost of Having the Card
- Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater
- Late Payment Fee
- $15 if the balance is less than $100; $29 if the balance is $100 or more, but less than $250; and $39 if the balance is $250 or more
- Annual Fee
- Foreign Transaction Fee
See What It Takes to Cover an Annual Fee:
We strongly recommend to spend not less than $1,760 per months to cover the annual fee in three months.
The annual fee for the Ink Preferred card is $95. With a typical redemption value of 1.8 cents per point, if you make $ 5,278 in purchases a year, you’ll cover the cost of the card. That’s because you’ll earn at least 5,277 points, which equates to $95. If you spend about $2,000 a month, you’ll pay off the card in 3 months. However, if some of your spending occurs within the 3x bonus categories, the amount of spending required to cover the annual fee could be much lower.
The annual is not waived for the first year, but the sign-up more than covers the cost of the fee. At a value of 1.8 cents, the 80,000 points sign-up bonus is worth $1,440.
We’ve broken out our estimates for the first- and second-year net earnings you’ll get with the Ink Business Preferred℠credit card. Is the card worth getting, and should you keep it after you get the sign-up bonus? Let’s find out.
These estimates are based on an annual monthly spend of $2,000
Top 5 Benefits of the Ink Business Preferred℠credit card
The Ink Business Preferred card has some great benefits, including a large sign-up bonus and a broad set of bonus categories. Here are the top 5 benefits:
- Huge Sign-Up Bonus: You can earn 80,000 points by spending $5,000 in the first 3 months. That’s worth $1,000 of travel booked through Chase, and possibly a lot more if you transfer the points to the Ultimate Rewards program’s travel partners.
- Great Rewards Currency: Ultimate Rewards points can be transferred to a wide variety of valuable partners at a 1:1 ratio, allowing you to take advantage of great airline and hotel award booking opportunities.
- 25% Extra Points: Redeem points for travel through Chase’s online portal at a fixed rate of 1.25 cents per point, versus the standard rate of 1 cent per point offered by other Ultimate Rewards cards.
- Generous Bonus-Earning Categories: You can rack up the points quickly by earning 3X on travel, shipping, internet, phone, cable and online advertising.
- No Foreign Transaction Fees:s: Use your card when traveling abroad without paying extra fees.
Should You Get the Ink Business Preferred℠Credit Card?
The Ink Business Preferred card is great for any small business owner or independent contractor who wants to quickly earn a large number of points in the Ultimate Rewards program. The 80,000 points sign-up bonus is the highest currently available for any card in Chase’s lineup.
The card will be most useful for those who can take advantage of the bonus categories. Many people will be able to get value out of the travel, phone and internet categories; however the shipping and advertising categories are more of a niche benefit. For small business owners who do a significant amount of spending in these categories, there is potential to earn a huge number of points.
Need more info? Check out our frequently asked questions. If you have other questions, please click on “Ask Now” below.
The value of Ultimate Rewards points can vary widely depending on how you redeem them. With the Ink Business Preferred card, you should be able to get a minimum value of 1.25 cents per point by booking travel directly through Chase. It’s also possible to transfer points to partners and receive up to 3 or 4 cents per point if you can find a great award booking opportunity.
Chase’s travel portal is way to both earn and redeem Ultimate Rewards points for travel. You can book travel through Chase and pay cash. Sometimes hotels and flights will be on sale via the portal. Those purchases will earn points. You can also redeem points for travel at a fixed value of 1.25 cents through portal with the Ink Preferred card. If you don’t have enough points to cover the full cost of a trip, Chase allows you to combine cash and points.
The most important thing to remember when applying for a business credit card is to be honest, especially with respect to reporting of income. Chase will ask for both business and personal income, so you can still be approved without any significant business income. You can apply with your Social Security number if you don’t have a tax ID.
No, Chase’s U.S.-based airline transfer partners include United and Southwest. Both have extensive domestic networks, so finding a ticket to anywhere in the U.S. shouldn’t be problem.
Chase has a diverse lineup of Ultimate Rewards cards. They range from a no-fee cashback card to a benefit-packed premium card that costs $450 a year. The Ink Business Preferred card falls in the middle of this range.
Other Ultimate Rewards cards
|Chase Sapphire Reserve℠||Chase Freedom Unlimited℠||Chase Sapphire Preferred® Card|
|Sign-up bonus||50,000 points||80,000 points||15,000 points||50,000 points|
|Annual Fee||$450||$95||$0||$0 Intro fee for the first year. After that, $95|
|APR On Purchases||16.99% to 23.99% Variable±||16.99% to 21.99% Variable±||15.99% to 24.74% Variable±||16.99% to 23.99% Variable±|
|Second Year Value||$432||$432||$360||$432|
The first key distinction between these cards is if they offer the ability to transfer points to travel partners. All of the cards that charge an annual fee have this ability, while the Freedom card does not.
However, if you already have one of the Ultimate Rewards cards that do allow points transfers, you can use a Freedom card to earn points for those accounts. That makes the Freedom card a great addition to your wallet if you already have a Ultimate Rewards card, but probably not the best Chase card to get first.
There is also a wide range of sign-up bonuses currently available. The Ink Business Preferred has the best bonus at 80,000 points. Both the Sapphire Reserve and Sapphire Preferred offer 50,000 points, while the Freedom Unlimited card offers 15,000.
The Ink Business Preferred card has the highest number of bonus categories. The Sapphire Reserve card offers 3X on travel and dining, while the Sapphire Preferred card offers 2X on the same categories.
Compare Ink Business Preferred℠Card to Other Cards
A big advantage of the Ink Business Preferred card has over the cards listed below is the ability to transfer points to a variety of partners. Cards like Spark Miles and Arrival Plus only offer fixed-value redemptions for statement credits, while the AAdvantage Platinum Select card earns miles that can only be redeemed via American Airlines.
Whenever you apply for a credit card make sure you read the terms and conditions of the card and the rewards program to find out about minimum spend requirements and any restrictions to ensure you can successfully obtain the card and earn the rewards it offers.
Card Terms and Conditions
While it's easy to focus on the rewards offered by the Ink Business Preferred℠card, it's worth taking a closer look at the terms and conditions. There's a lot to consider as you think about how you're going to use the card. Will you carry a balance, get a cash advance or maybe make a big purchase? Below is a rundown of the various interest rates, purchase protections, security features and mobile banking options that come with the Visa card.
- Intro APR:
- See Terms and Conditions
- Ongoing APR:
- 16.99% to 21.99% Variable±
- Intro APR for balance transfers:
- Intro APR for balance transfers:
- Minimum Grace Period:
- 20 days
- 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. Covers up to $10,000 per claim and $50,000 per year.
- Purchase Protection:
- New purchases get 120 days of coverage against damage or theft for up to $10,000 per claim and $50,000 per account.
- Price Protection:
- If a purchase you’ve made in the U.S. is advertised for less in print or online within 90 days, you can be reimbursed the difference for up to $500 per item and $2,500 per year.
- Return Protection:
- You can be reimbursed for eligible items that the store won't take back within 90 days of purchase. Good for up to $500 per item and $1,000 per year.
Cash Advance Features
- Ongoing APR:
- 25.99% Variable±
- Cash Advance Fee:
- Either $15 or 5% of the amount of each transaction, whichever is greater
Security and Protections
Chase offers a variety of security features, most of which synch with the Chase mobile app or text messaging.
- Account alerts:
- Set up alerts to be notified when large transactions occur, if there’s an unauthorized withdrawal and when your bill’s due.
- Text Fraud
- Chase will send you text alerts in real time if fraud is suspected. If you are the one making the transaction, you can quickly send a text response to clear the card and complete the transaction.
- Emi Chip Technology:
- Get global acceptance and enhanced security at merchants that use chip enabled terminals.
- Credit Score Monitoring:
- Chase recently launched a new credit score monitoring program called Credit Journey, so you can keep an eye for any unusual or suspicious changes to your credit history.
- Paperless Statements:
- Access statements on the go
- Fingerprint Log In:
- Quick, convenient and secure way to access the mobile app
- Manage Rewards:
- You can view your points balances for each card and make redemptions via the app
Additional Cardholder Benefits
The Chase Ink Business Preferred is a Visa Signature card and comes with the standard lineup of travel protections and coverages.
Visa Signature Travel Benefits
- Rental Collision Damage Waiver:
- Coverage for theft and collision for most rentals in the U.S. and abroad. Coverage is primary when renting for business reasons, but secondary to your insurance if renting for personal reasons.
- RenBaggage Delay Insurance:
- Reimbursement for emergency purchase of essential items if bags are delayed over 6 hours.
- Lost Luggage Reimbursement:
- Get up to $3,000 per passenger for damaged or lost bags. Coverage includes cardholder and immediate family members on the same travel itinerary.
- Roadside Dispatch:
- Call 800-847-2869 for roadside assistance, including lockout service, towing, jumpstart and gas delivery. Service charges apply.
- Travel Accident Insurance:
- Call 800-847-2869 for roadside assistance, including lockout service, towing, jumpstart and gas delivery. Service charges apply.
- Travel and Emergency Assistance Services:
- Legal and medical referrals, and other travel and emergency assistance is available any time of day. Service charges apply.