Edited by: Kellie Jez
& Stella Shon
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Good to Excellent (670-850)
The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.
The Ink Business Preferred® Credit Card is a powerhouse for earning lots of points from your business purchases, especially for business owners that spend regularly on ads.
Plus the card offers flexible redemption options, including access to Chase airline and hotel transfer partners where you can achieve outsized value.
Business owners will also love the protections the card provides like excellent cell phone insurance, rental car insurance, purchase protection, and more.
Since the Ink Business Preferred card 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 this card.
The card is also perfect for individuals who tend to be rough with their cell phones, as it’s one of the few on the market to offer cell phone protection. Cardholders can receive up to $1,000 per claim, with up to 3 claims per 12 months.
If you’re a savvy business owner who 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 card could be a great option for you. Thanks to the bonus categories, it is also one of the best cards for monthly bills for business owners.
With perks like these, it is easy to see why the Ink Business Preferred card is so popular.
“What I find particularly impressive about the Ink Business Preferred card is its whopping welcome bonus offer, surpassing any other Chase Ultimate Rewards-earning credit card. I use my Ink Business Preferred card on travel purchases like hotel and airfare and select business categories like internet, cable, and phone services, which earns me 3x points per dollar spent.”Juan Ruiz, Upgraded Points’ Compliance Editor and Content Contributor
The card’s purchase protection covers new purchases against damage or theft for 120 days. This benefit covers up to $10,000 per claim with a maximum of $50,000 per year.
This benefit will protect your cell phone, plus the cell phones of those employees listed on your monthly bill, against loss or damage. To activate this benefit, all you need to do is pay your recurring phone bill with your Ink Business Preferred card — and don’t forget, you’ll also be earning 3x points.
Each claim has a $100 deductible. Claims are capped at $1,000 each, and you can submit up to 3 claims per year.
At Upgraded Points, we feel that that the cell phone protection is easily one of the best benefits of the Ink Business Preferred card.
“I pay my cell phone bill with my Ink Business Preferred card because it has cell phone protection. If I break or lose my cell phone, the protection covers up to $1,000 per claim (after a $100 deductible). I also have the Ink Cash® Credit Card which earns me 5% cash back on these same purchases of internet, cable, and phone services, however, I’d rather earn fewer points by using my Ink Business Preferred card to pay my cell phone bill and have access to cell phone protection in case something goes wrong.”Juan Ruiz, Upgraded Points’ Compliance Editor and Content Contributor
While it is true that there are cards that offer a higher rewards rate on phone bill payments, having a card with great cell phone protection is well worth sacrificing a few extra points per dollar spent.
Trip insurance is something that many of us won’t pay for, but it’s a nice perk to have built into your credit card. The Ink Business Preferred card offers trip cancellation and interruption insurance.
This means that you’re covered if your trip is canceled or cut short by illness or severe weather. You can be reimbursed up to $5,000 for prepaid, nonrefundable expenses like tickets, tours, and hotels.
If you’re renting a car with your Ink Business Preferred card for business purposes, you’re eligible for primary car rental insurance. This means you don’t have to file a claim with your other insurance first. This coverage provides reimbursement for theft or damage for most cars up to the actual cash value of the car.
To activate this coverage, be sure to pay for the entire rental with your Ink Business Preferred card and decline the collision insurance provided by the rental agency.
This card is a great choice for small business owners because you can get cards for your employees at no additional charge.
The annual fee for this card is $95, but being able to add authorized users for free can make the cost well worth it. Keep in mind, though, that you’re responsible for their spending, so only add trusted employees to your account.
When you purchase an item with your card, it extends the U.S. manufacturer’s warranty by an additional year on eligible warranties of 3 years or less.
While the Ink Business Preferred card is excellent at earning points thanks to its multiple 3x categories, there are actually tons of other great ways to earn lots of Ultimate Rewards points as well!
When it comes to redeeming your points, fortunately, you’ve got no shortage of options. However, not all redemption options provide the same level of value, so check our guide to the best ways to redeem Ultimate Rewards points for max value.
Our favorite way to redeem Chase Ultimate Rewards points is for luxurious business class flights and hotel stays. You, too, can book these redemptions for pennies on the dollar by using one of the many Chase transfer partners.
Team members at Upgraded Points have redeemed their Chase Ultimate Rewards points for tons of top-notch travel experiences like Virgin Atlantic Upper Class, ANA first class, amazing Hyatt stays, and more.
This card earns 4x Membership Rewards points on the top 2 categories in which your business spends the most every month (up to $150,000 in combined purchases every calendar year):
This gives you the potential to earn 600,000 Membership Rewards points if you hit the spending threshold each year.
So, if you’re intrigued by these business offerings, you like the card’s earning structure, or you prefer the American Express Membership Rewards ecosystem, this could be the card for you.
See our direct comparison of these 2 cards: Ink Business Preferred card vs. Amex Business Gold card.
If you’re looking for a credit card in the Ultimate Rewards ecosystem, but prefer one with no annual fee and a simple rewards earning structure, then it is likely that you’ll love the Ink Business Unlimited card. With it, you’ll earn 1.5% cash-back on all purchases you make, no matter what category they fall in, with no limit to how much you can earn.
Our Ink Business Preferred card vs. Ink Business Unlimited card review compares these 2 cards in detail.
We’ve also compared the Ink Business Preferred card to a number of other popular cards:
Every card we review is assigned a “U.P. Rating” – our star-based system that encompasses all the key details to showcase a card’s standout features, where it falls short, and how it stacks up for travelers to maximize rewards.
These ratings range from 0 to 5 stars and are determined by carefully weighing crucial factors like:
You can learn more about how Upgraded Points reviews and rates credit cards.
This card offers small business owners the opportunity to earn points for spending in multiple categories.
Cardmembers earn 3x points 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 1x points
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 purchase protection.
The Ink Business Preferred card and other Chase Ultimate Rewards credit cards can be used in combination to cover all bonus categories. Then points can be pooled into 1 Ultimate Rewards account for redemption.
The annual fee is $95.
No, the card has a variable APR (see card fees above).
There are several great benefits of the Ink Business Preferred card, including:
The value of your Chase Ultimate Rewards points will vary based on how you use them. When you redeem your points as a statement credit, or for cash-back, you’ll receive a value of 1 cent per point.
When you redeem your points through the Chase Ultimate Rewards travel portal, your points will be worth 25% more at 1.25 cents per point.
However, one of the best ways to use your points is by strategically using one of the Chase travel transfer partners, like World of Hyatt, where you can often get over 2 cents per point in value.
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.
As long as your account is active and in good standing, your Ultimate Rewards points will not expire.
No, the card has no foreign transaction fees.
The Ink Business Cash 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 card, but the Ink Business Cash 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.
Yes, the card is for business owners. However, you may be surprised at what qualifies as a business. You don’t need to have a big corporation or even employees to be a business. Even something as simple as selling crafts on Etsy can be considered a business. If you aren’t sure if you should apply for a business credit card, check out our guide to applying for a small business credit card.