Ink Business Preferred℠ Credit Card Review

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Ink Business Preferred℠ Credit Card Review

U.P. Rating:

"The King of Business Credit Cards"

This is a business card that's very hard to beat, with a huge sign-up bonus and earnings of 3 points per $1 on the first $150,000 in so many business categories.

Apply Now at Chase's secure site

Just because you’re a small business owner doesn’t mean you don’t have big expenses. So why not earn big points on the purchases you make every month to redeem for awards that can make your life easier?

With the Ink Business Preferred℠ Credit Card, you get points for all of your spending and even more in certain business categories where you probably tend to spend the most.

Thinking of expanding your business? The right credit card can help cover those costs, as well as any unexpected business expenses.

Card Snapshot

The Ideal Cardholder

Since the Ink Business Preferred℠ is a business credit card, naturally, the ideal cardholder is a business owner.

But this card isn’t limited to brick-and-mortar business owners. If you own an online business, work as a freelancer, or even if you’ve made a business out of selling things on eBay, you’re eligible for the Ink Preferred Business℠ Credit Card.

The card is also perfect for individuals who tend to be rough with their cell phones. The Ink Business Preferred℠ card is one of the few on the market to offer cell phone protection. Cardholders can receive up to $600 per claim, with up to 3 claims per 12 months.

Hot Tip: The Ink Business Preferred℠ cell phone insurance covers accidental damage and theft of your phone. Keep in mind that there is a $100 deductible, and the plan only covers phones that are purchased brand new (not used or refurbished). 

If you’re a savvy business owner that has a lot of travel, shipping, or advertising needs — or you’d like a card that keeps you covered with purchase protection or cell phone insurance — then the Ink Business Preferred℠ could be a great option for you.

Great Card If

  • You’re a business owner who spends a lot on travel, shipping, and advertising expenses
  • You want a card with great purchase and travel protections
  • You want a card with a cell phone protection plan in case of theft or damage
  • You want a card with flexible point redemption options

Don't Get If

  • You prefer a card with no annual fee
  • Your business spending does not fall within the bonus categories
  • You prefer cash-back rewards over points

Card Fees

  • Annual Fee
    • $95 Annual Fee
  • Foreign Transaction Fees
    $0
  • Interest Rates
    • 18.24% - 23.24% Variable
  • Balance Transfers
    • 18.24% - 23.24% Variable
    • Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
  • Cash Advance APR
    • 27.24% Variable
    • Fee: Either $15 or 5% of the amount of each transaction, whichever is greater.

How to Earn More Points

Business-Meeting
Your bottom line matters, so get a card that offers a great return on each $1 you spend. Image courtesy of RawPixel via Shutterstock.

Business Expenses

With the Ink Business Preferred℠ Credit Card, you’ll earn 3x points per $1 on up to $150,000 in combined purchases on internet, cable and phone services, shipping expenses, travel, and ads purchased with search engines or social media sites.

So if your business has expenses that fall into one or more of these categories, you could be earning a huge return on your spending in the form of Chase Ultimate Rewards points.

Hot Tip: If you’re curious what counts toward “travel purchases,” Chase has a very broad definition. The 3x points will be applied to purchases on airfare, hotels (including Airbnb), cruises, discount travel sites, trains, buses, taxis (including Uber and Lyft), and much more. 

Chase Shopping Portal

It’s no secret that nowadays many people prefer to do their shopping online. Luckily, Chase has made it easier for you to earn even more points for the products you were planning to purchase anyway.

If you do your online shopping through the Chase Ultimate Rewards shopping portal, you can earn anywhere from 1x-20x points per $1 with companies like Macy’s, Nike, and Sephora.

Adding More Ultimate Rewards-Earning Cards

If you’re wanting to earn even more value from your business expenses, you should consider adding more cards from the Ultimate Rewards ecosystem.

For example, the Ink Business Unlimited℠ Credit Card ears 1.5x Ultimate Rewards points per $1 on all purchases. If used in combination, this card could help you earn 50% more points on every purchase outside of the Ink Business Preferred℠ bonus categories (and on every purchase after you hit the $150,000 threshold).

Interested in what other cards are part of the Chase Ultimate Rewards ecosystem? Here are a few of our favorites.

Recommended Chase Cards (Personal)

Recommended Chase Cards (Business)

Bottom Line: There is truly no shortage of ways to earn a large amount of Chase Ultimate Rewards points. If you’re interested in a more comprehensive list, check out our best ways to earn lots of Chase Ultimate Rewards.

How to Use These Points for Max Value

Business-Man-On-Airplane
Redeem your Ultimate Rewards points to take your business to new heights. Image courtesy of Halfpoint via Shutterstock.

If you’re able to maximize your 3x points per $1 by spending $150,000 in the combined bonus categories, you’ll be earning a staggering 450,000 Ultimate Rewards points every year.

So how can you redeem all those points for their max value?

Transferring to Airline and Hotel Partners

One of the main reasons Chase Ultimate Rewards points are so valuable is that they can be transferred to a large number of airlines and hotels Chase partners with. This can allow for some exceedingly large values when redeeming those points for near free business/first class flights or hotel stays.

You may be under the impression that it’s simply too difficult to bother with transfer partners, or that there is no incentive for you to do so. This couldn’t be further from the truth.

Here at Upgraded Points, utilizing transfer partners is by far our favorite redemption method — and it’s how we’re able to have incredible travel experiences for just pennies on the dollar.

Hot Tip: Need help getting started? We’ve got you covered! Check out our guide on Chase’s Transfer Partners (and How to Use Them).

Redeeming Points Through the Chase Ultimate Rewards Travel Portal 

This method is best suited for cardholders looking for a quick and easy way to redeem their points. When booking through the Ultimate Rewards Travel Portal, the number of points required for the redemption is directly tied to the cash price (meaning there’s no need to worry about transfers, award space, or blackout dates).

In addition, with the Ink Business Preferred℠ Credit Card, you receive a 25% bonus to the value of your points when you redeem through the portal — making each point worth a fixed 1.25 cents each. This means if you have 80,000 Ultimate Reward points, they can be redeemed for $1,000 in travel purchases through the Ultimate Rewards travel portal.

If it’s simplicity and flexibility you’re after, then the Ultimate Rewards travel portal may be the way to go. It’s quick and easy — and you can rest assured that you’re still receiving some additional value out of your Ultimate Reward points.

Hot Tip: Since the number of Ultimate Reward points needed for a redemption through the travel portal is tied to the cash price, booking through the portal is considered a cash fare. This means that if you use Ultimate Reward points to purchase a flight with United through the travel portal, you’ll receive United MileagePlus® miles for doing so. 

Redeeming for Gift Cards

Though we don’t recommend it, Chase also allows you to redeem your Ultimate Rewards points for gift cards from over 150 different brands. This method almost always earns you 1 cent per point in value, unless a specific promotion is being run with a certain brand.

Redeeming for Cash-Back

If you have no interest in travel rewards or are simply too busy to travel, you have the option to redeem your Ultimate Rewards points for cash-back at a rate of 1 cent per point.

You can utilize this as a statement credit to erase purchases you’ve made with your card, or you can have cash deposited straight into the bank account you have linked with the card.

Use Points With Amazon or Apple

If you have your Ink Business Preferred℠ card linked as a payment method with Amazon or Apple account, you can use points instead of charging the item to your card. If you use this redemption, your points are again worth just 1 cent each (so a $250 Apple purchase would cost 25,000 Ultimate Reward points).

Chase Experience Portal

Through the Chase Experience Portal, you can redeem your Ultimate Reward points for VIP access to a variety of sports, entertainment, and dining experiences. These experiences are only available to Chase credit card holders.

However, it’s better to use cash to purchase these experiences — when using points, you’ll usually just receive 1 cent per point in value (which isn’t great).

Bottom Line: We love transferring our points to book world-class travel experiences with select airline and hotel groups. This method allows you to receive huge value out of your hard-earned points and makes for incredible memories. We don’t recommend using your points for cash-back, gift cards, or any other option that will only earn you 1 cent per point in value. Here’s how we use our Chase points for maximum value.

Chase Airline Transfer Partners

Chase Airline Transfer PartnerMin TransferTransfer Ratio
(Chase > Airline)
Transfer Time
Aer Lingus AerClub1,0001:1Almost Instant
British Airways Executive Club1,0001:1.3 (ends 6/16/19)Almost Instant
Flying Blue AIR FRANCE KLM
1,0001:11-7 days
Iberia Plus1,0001:1Almost Instant
JetBlue1,0001:1Almost Instant
Singapore Airlines KrisFlyer
1,0001:1Up To 24 Hours
Southwest Airlines Rapid Rewards1,0001:1Almost Instant
United Airlines MileagePlus1,0001:1Almost Instant
Virgin Atlantic Flying Club1,0001:1Almost Instant

Chase Hotel Transfer Partners

Chase Hotel Transfer PartnerMin TransferTransfer RatioTransfer Time
World of Hyatt
1,0001:1Almost Instant
IHG Rewards Club1,0001:11 day
Marriott Rewards1,0001:12 days

Competitor Cards

American Express® Business Gold Card

The American Express® Business Gold card recently received a makeover and now earns 4x points per $1 on your top 2 select spending categories on a monthly basis. This is capped at $150,000 per year, giving you the potential to earn 600,000 Membership Rewards points if you hit the spending threshold each year.

However, keep in mind that the annual fee has risen from $175 to $295.

The card is also offering 1 free year of ZipRecruiter Standard and 1 free year of G Suite Basic. So, if you’re intrigued by these business offerings, you like the cards earning structure, or you prefer the American Express® Membership Rewards ecosystem, this could be the card for you.

Capital One® Spark Cash® Card

If your business spends much more than $150,000 on expenses per year, you may want to consider a card like the Capital One® Spark Cash® card. The card offers an uncapped 2% cash-back on all purchases, and you can add additional cards for your employees for free. If you’re after a card with simple and flexible rewards, this might be a great option.

FAQ

What is the Ink Business Preferred℠ Credit Card? Why should I get it?

This card offers small business owners the opportunity to earn points for spending in multiple categories.

Cardmembers earn 3 points per $1 for purchases up to $150,000 in categories such as travel, internet, phone, cable, shipping, and advertising through social media or search engines. All other purchases are worth 1 point per $1.

Points can be redeemed through the Chase reward portal for travel, gift cards, statement credit, direct deposit, or on Amazon.com.

Small business owners who don’t mind the $95 annual fee can also enjoy benefits such as free employee cards, cell phone insurance, and the Mobile Ink App for tracking spending.

The Ink Business Preferred℠ Credit Card and other Chase Ultimate Rewards credit cards can be used in combination to cover all bonus categories. Then points can be pooled into one Ultimate Rewards account for redemption.

Does the Ink Business Preferred℠ Credit Card have an annual fee?

The annual fee is $95.

Is the Ink Business Preferred℠ Credit Card a 0% APR card?

No; the card has a variable APR (see card fees above).

What is the bonus for signing up for the Ink Business Preferred℠ Credit Card?

The sign-up bonus is shown in the above card summary table or below special offer.

What are the benefits of the Ink Business Preferred℠ Credit Card?

There are many benefits for cardholders, including 20% flight discounts and 25% more value for redeeming points for travel through the Chase Ultimate Rewards portal. For instance, 50,000 points becomes $625 to be used toward travel.

The card can also be combined with other Chase Ultimate Rewards credit cards such as the Ink Business Cash℠ Credit Card, Chase Freedom®, Chase Freedom Unlimited®, Chase Sapphire Reserve®, and Chase Sapphire Preferred® Card to earn even more points.

The card comes with travel insurances as well.

Which travel partners are associated with the Ink Business Preferred℠ Credit Card?

Cardholders can transfer points at a 1:1 ratio with the following travel loyalty programs in 1,000-mile increments:

Airline partners include Air France/KLM, British Airways, Iberia, Aer Lingus, JetBlue, Singapore Airlines, Southwest AirlinesUnited Airlines, and Virgin Atlantic. Hotel partners include Hyatt, IHG, and Marriott.

When do the points earned post to my account?

Points from your purchases appear on your card credit card statement at the end of each month. However, bonus points can take longer to post. Travel partner points take up to a week to transfer.

How much are the Ink Business Preferred℠ Credit Card points worth?

When used directly, points are valued at $0.01 — but when transferring to partner airlines and redeemed for international travel, they can be worth upwards of $0.02.

How do you redeem Chase points for rewards?

To redeem your points, log into your Chase credit card account and click on Ultimate Rewards. From this site, you also have the option to switch your view to other Chase credit cards in the program or to transfer points between cards.

When do the points expire?

As long as your account is active and in good standing, your points will not expire.

Are there any foreign transaction fees with the Ink Business Preferred℠ Credit Card?

No, the card has no foreign transaction fees.

How do I log in to my Ink Business Preferred℠ Credit Card account?

Log in to your account using the Chase Bank login page.

Which is the better credit card, the Ink Business Preferred℠ Credit Card or the Ink Business Cash℠ Credit Card?

The Ink Business Cash℠ Credit Card earns cash-back as points in the Ultimate Rewards program.

Earn 5% cash-back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet, and cable TV services each account anniversary year. Also, earn 2% cash-back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.

The maximum earning cap is higher for the Ink Business Preferred℠ Credit Card, but the Ink Business Cash℠ Credit Card offers a 0% intro APR for 12 months on purchases and balance transfers (then a variable APR; see issuer’s terms).

Both cards can be used simultaneously to take advantage of all the benefits.

What are all available Chase Ultimate Rewards credit cards?

  • Ink Business Preferred℠ Credit Card
  • Ink Business Cash℠ Credit Card
  • Chase Freedom®
  • Chase Freedom Unlimited®
  • Chase Sapphire Preferred® Card
  • Chase Sapphire Reserve®

What is the Chase Ink Bold Credit Card?

The Chase Ink Bold card was an older version of a Chase Ultimate Rewards credit card that is no longer available for applications.

Which card is better: the Ink Business Preferred℠ or the SimplyCash® Plus Business Credit Card from American Express?

The answer to this question depends on your own personal business situation. The SimplyCash® Plus Business Credit Card from American Express
earns 5% cash-back on U.S. cell phone services as well as U.S. office supply stores.

If you spend a large amount in these areas, and not as much in the 3x bonus categories of the Chase reward program card, then perhaps the SimplyCash is a better card for you!

Jarrod West

About Jarrod West

As a former broke college graduate with an insatiable desire to see the world, Jarrod became fascinated with using points and miles as the perfect way to visit dream destinations without breaking the bank. Like many others who enter this hobby, his fascination quickly led to a full-blown obsession which resulted in earning millions of points and spending 3 months traveling Europe with his girlfriend, Valeria, financed almost entirely with points and miles!

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Ink Business Preferred℠ Credit Card

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