10 Valuable Benefits of the Ink Business Preferred℠ Credit Card [Get $1,600+ Value Per Year]

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When it comes to small business credit cards, the Ink Business Preferred℠ Credit Card from Chase is one of the best options on the market. In fact, if you are just starting to earn miles and points, this is the credit card we recommend small business owners get first as it falls under the Chase 5/24 rule.

As part of the Chase Ultimate Rewards program, the Ink Business Preferred can help you earn some valuable transferable points that can be used to book flights and hotels across the world through the Chase travel portal. Their flexibility means you can also use these points with many airline and hotel partners.

To help you decide if this small business credit card is right for you, we’re going to discuss some of its benefits, purchase protections, and travel protections.

The Benefits of Chase Ultimate Rewards

Chase Ultimate Rewards points are some of the most valuable points available to credit card holders. Let’s take a look at how Ultimate Rewards points can help you travel the world.

Chase Ultimate Rewards Program

Not only can you use Ultimate Rewards points to book travel through Chase’s own travel portal, but you can also transfer them to 9 airline partners and 4 hotel partners. This flexibility gives you tons of options to redeem Ultimate Rewards points for some awesome travel experiences.

One of the best parts about Ultimate Rewards is that they transfer to each of their transfer partners at a 1:1 ratio. These transfers also process almost instantly, so you can transfer and book within minutes. This means you don’t have to worry as much about award space disappearing while you wait for a transfer to complete.

You could redeem your Ultimate Rewards points for statement credits at a value of 1 cent per point, but this is an awful way to use points. If you have Ultimate Rewards or are in the process of earning them, consider them to be a travel currency — that is how you will get the most value out of them.

Earn Tons of Points With Bonus Categories

lufthansa first class a380
Utilize some fantastic bonus categories to earn an amazing trip in Lufthansa first class.

Where the Ink Business Preferred really shines for small business owners is the ease with which it allows you to earn tons of Chase points quickly. Thanks to a number of bonus categories, you’ll be booking an award flight before you know it.

The bonus categories of this card include travel, shipping, internet, cable, phone, and advertising on social media and search engines. You will earn 3X points per dollar on the first $150,000 spent across these categories per year.

For example: If your small business spends a combined $150,000 in a year in these bonus categories, you would earn 450,000 Ultimate Rewards points. That’s easily enough points to book Lufthansa first class or Singapore Airlines first class…and still have plenty leftover to redeem for award stays at some great Hyatt properties.

Hot Tip: The Ink Business Preferred comes with a big sign-up bonus, so make sure you hit the minimum spend requirement within the allotted time (often 3 months) to ensure you receive the bonus. Check the current offer to see the latest sign-up bonus available.

Ultimate Rewards Worth 25% More in Travel Portal

The Chase travel portal is available to anyone with a Chase card that earns Ultimate Rewards. However, cards such as the Ink Business Cash℠ Credit Card, Chase Freedom®, and the Chase Freedom Unlimited® Card only allow you to redeem your points in the Chase travel portal at a value of 1 cent per point.

With the Ink Business Preferred, your Ultimate Rewards can be combined and redeemed at a rate of 1.2 cents per point. That’s a 25% bump in the value of every point you earn.

Transferring to airline and hotel partners (as we discussed above) is still the best way to get the most value out of your points, but using the travel portal can be a good option for many cardholders.

Purchase Protection Benefits

The coverage provided by small business credit cards is different than that of personal credit cards, so it’s important to know what protections are available to you as a business owner.

Purchase Protection  [Up To $10,000 Value]

When you’re making critical (and often expensive) purchases for your small business, it helps to know that the Ink Business Preferred comes with purchase protection just in case something happens.

If the item you purchase with this card is damaged or stolen within 120 days of purchase, you are eligible to use the purchase protection benefit. You can file a claim up to a value of $10,000, and you are allowed to claim up to $50,000 with this benefit per calendar year.

Cell Phone Protection Benefit [$600 Per Claim, 3 Per Year]

Cell Phone Protection
The Ink Business Preferred Card’s cell phone protection coverage is an amazing benefit for small business owners.

One benefit rarely provided by credit cards is cell phone protection, but the Ink Business Preferred will cover up to $600 per claim.

There is a $100 deductible, and you are only covered if you are currently paying your cell phone bill with this card…which you should be doing anyway so you can earn 3X Ultimate Rewards points per dollar spent!

You can make up to 3 claims during any given 12-month timeframe. Hopefully, that will be more than enough to keep you covered.

Extended Warranty Benefit [Up To $10,000 Per Claim]

Many small businesses have to purchase expensive equipment and want to ensure they are covered if for some reason there is a problem. With the Ink Business Preferred, you get extended warranty protection.

You are eligible for the extended warranty on purchases in which the manufacturer’s warranty is no more than 3 years. Chase’s extended warranty will cover the product for an additional year after the manufacturer’s warranty lapses.

It will cover up to $10,000 per claim and up to $50,000 per account.

Travel Protection Benefits

For those who do a lot of work travel, the Ink Business Preferred also has several travel protection benefits you’ll want to know about.

Trip Delay Insurance Benefit [$500 Value]

Flight delays can be miserable, but with the Ink Business Preferred Card you can get reimbursed for expenses.

Trip delay insurance might be one of the most important benefits of this card if you travel regularly. If your flight is delayed by 12 hours or requires you to stay overnight and fly out the following morning, you can be reimbursed for up to $500 in reasonable expenses.

This can include things such as a hotel stay, meals, ground transportation to and from the airport, and more. You will need to obtain documentation from the airline that your flight was delayed to include in your claim submission.

Also, you will need to use the Ink Business Preferred and keep all receipts for any purchases you’d like to claim.

Baggage Delay Insurance Benefit [$500 Value]

Another important benefit for travelers is baggage delay insurance. If your checked bags are delayed more than 6 hours, you could be eligible for reimbursement if you need to purchase any essential items.

To be clear, this benefit only covers truly essential items like clothing and toiletries. Chase explicitly covers 1 charging cable for a cell phone, but no more than that. Many items not considered emergency purchases won’t be covered, so check the benefits guide for a detailed list.

You can be reimbursed up to $100 per day for no more than 5 days.

Lost Luggage Coverage Benefit [Up To $3,000 Value]

If your carry-on bag or checked bag is lost, Chase will reimburse you up to $3,000 per person. Each covered person will also be eligible for $500 in coverage for jewelry, watches, cameras, video recorders, and other electronic equipment.

Trip Cancellation and Trip Interruption Insurance Benefit [Up To $5,000 Value]

Severe illnesses and accidental injuries that cause you to cancel or interrupt your trip can also be covered by Chase when you use the Ink Business Preferred. You can be reimbursed for up to $5,000 per person—this even applies if you use Ultimate Rewards to book your travel.

Final Thoughts

If you like earning Chase Ultimate Rewards points and are a small business owner, the Ink Business Preferred should be high on your list of possible credit cards to apply for. It has great bonus categories to help you earn points quickly and book some amazing trips.

Additionally, it comes with loads of protections to make you feel more comfortable with the big purchases necessary to run your business. On top of that, it also covers tons of possible mishaps that can occur when traveling, so you can be at peace knowing that you’re covered if things don’t go as planned.

If you’re considering a small business credit card that comes packed with perks and earning potential, give the Ink Business Preferred a look.


Can you transfer Chase Ultimate Rewards points to airlines or hotels?

Yes, Ultimate Rewards can be transferred to seven airlines: United Airlines, Singapore Airlines, Virgin Atlantic, Southwest Airlines, Air France/KLM, British Airways and Korean Air.

They can be transferred to four hotels: Hyatt, IHG, Marriott, and Ritz-Carlton.

Can you have more than one Ultimate Rewards credit card?

Yes. In fact, having a few Ultimate Rewards credit cards can be a great combination to help you earn tons of Ultimate Rewards points.

Spencer Howard

About Spencer Howard

Always a fan of flying, it was only natural that Spencer was drawn to finding a way to improve the travel experience. Like many, he started this journey searching for cheap flights to take him around the world. This was fun for a while, but Spencer was intrigued by the idea of flying in business and first class! Throwing himself into what became an extensive research project, Spencer spent 3-4 hours per night learning everything he could about frequent flyer miles over the course of several months (he thinks this is normal).


Ink Business Preferred℠ Credit Card

  • 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 on travel and select business 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
  • $95 Annual Fee

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