Chase Ink Business Preferred review: Boosted rewards for businesses

Common business expenses earn high rewards with the Chase Ink Business Preferred® Credit Card * The information for the Ink Business Preferred® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. . Plus, points are worth 25% more when redeemed for travel bookings through Chase.

Chase Ink Business Preferred basics

• Annual fee: $95.
• Welcome bonus: Earn 100,000 points after spending $8,000 on purchases in the first three months of account opening.
• Rewards: Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year and 1 point per $1 on all other purchases.
• APR: 21.24% to 26.24% variable APR on purchases and balance transfers. A balance transfer fee of either $5 or 5% of each transfer, whichever is greater, applies.
• Foreign transaction fees: $0.
• Other benefits: Employee cards for no additional cost, cellphone protection, travel protections, auto rental collision travel waiver.
• Does the issuer offer a preapproval tool? No.
• Recommended credit score: Good to excellent.

About the Chase Ink Business Preferred

The Chase Ink Preferred credit card rewards business owners with a higher earning rate on typical recurring business expenses. Rewards are flexible Chase Ultimate Rewards® points. Cardholders earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year and 1 point per $1 on all other purchases.

The Chase Ink Business Preferred also boasts a generous welcome offer of 100,000 points after spending $8,000 on purchases in the first three months of account opening. 

While this card does charge a $95 annual fee, in exchange it provides some great travel benefits, such as no foreign transaction fees, primary car rental insurance when traveling for business, roadside dispatch, travel and emergency assistance services and trip cancellation/trip interruption insurance. Plus, cellphone protection is offered for not only the business owner, but for every employee’s phone that is paid for with the card.

There’s no introductory 0% APR offer for either purchases or balance transfers, however. 

Pros 

• Generous welcome bonus. 
• Elevated earning rate up to an annual cap spent per year on common business expenses.
• Points are worth 25% more value when redeemed for travel via Chase’s portal.
• Ability to transfer points to Chase travel partners at a 1:1 rate.
• Primary car rental insurance and roadside dispatch. 
• No additional cost for employee cards.
• Travel and trip protection coverage.
• Cellphone coverage.
• No foreign transaction fees.

Cons

• $95 annual fee.
• No intro APR offers for purchases or balance transfers.
• There’s a cap on the elevated rewards rate.

Chase Ink Business Preferred rewards

The Chase Ink Business Preferred credit card earns coveted Ultimate Rewards points at the following rates: 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year and 1 point per $1 on all other purchases.

New cardholders can also jumpstart their rewards points cache by earning the following welcome offer: 100,000 points after spending $8,000 on purchases in the first three months of account opening.

Points can be redeemed for cash back, statement credits, gift cards or products and services offered from third-party merchants. However, cardholders can typically get the best value for their rewards points by redeeming them for travel purchases through Chase Ultimate Rewards as points redeemed that way are worth 25% more. For example, 100,000 points would be worth $1,250 when redeemed for travel purchases booked through the Ultimate Rewards portal.

You can also transfer points on a 1:1 basis to Chase’s numerous airline and hotel partners:

• Aer Lingus, AerClub
• Air Canada Aeroplan
• Air France/KLM Flying Blue
• British Airways Executive Club
• Emirates Skywards
• IHG Rewards Club
• Iberia Plus
• JetBlue TrueBlue
• Marriott Bonvoy
• Singapore Airlines KrisFlyer
• Southwest Airlines Rapid Rewards
• United MileagePlus
• Virgin Atlantic Flying Club
• World of Hyatt

Chase Ink Business Preferred rewards potential

To determine the rewards potential of the Chase Ink Business Preferred credit card, we estimated what a sole proprietor or small business might spend in the elevated rewards categories. Our estimate is for a business with $120,000 in annual expenses that can be put on a credit card. Here’s what you could earn in rewards with the Ink Business Preferred in such a scenario:

A cardholder who earns 260,000 Ultimate Rewards points annually on the card can redeem their earnings for either $2,600 in cash back or use the points to book travel through Chase at a value of $3,250. Transferring points to one of Chase’s travel transfer partners and booking award travel directly with the airline or hotel brand may also yield increased value. 

Other Chase Ink Business Preferred benefits

The Chase Ink Business Preferred card offers up some valuable cardholder benefits, including:

• No additional cost for employee cards. You can multiply your points balance by adding your employees as authorized users on the card. Just know that the primary cardholder or business is responsible for all purchases made on those cards.
• Extended warranty protection up to an additional year beyond an original manufacturer warranty of three years or less.
• Purchase protection for 120 days up to $10,000 per claim and $50,000 per account.
• Car rental collision damage waiver. This is primary car rental coverage (when renting for business purposes), meaning you won’t have to file a claim with your own insurance first.
• Travel and emergency assistance services, including medical and legal referrals if you run into trouble while traveling. The cardholder will be responsible for any incidental costs for services, however.
• Cellphone protection for the primary cardholder and any authorized employee cardholders whose cellular bills are paid with the card, up to $600 per claim (and up to $1,800 per 12-month period) with a $100 deductible with a limit of three claims per year.
• Fraud and zero liability protection protects you against unauthorized purchases.

Chase Ink Business Preferred APR

The Chase Ink Business Preferred credit card comes with a 21.24% to 26.24% variable APR on purchases and balance transfers. A balance transfer fee of either $5 or 5% of each transfer, whichever is greater, applies. The card does not currently offer an intro 0% APR for purchases or balance transfers. 

That said, the $0 annual fee Ink Business Cash® Credit Card and the Ink Business Unlimited® Credit Card (also no annual fee) both offer introductory APR periods on new purchases.

How the Chase Ink Business Preferred compares to other business cards

Chase Ink Business Preferred vs. Ink Business Cash® Credit Card

If you don’t think your business spending will align with the Chase Ink Business Preferred card, you may want to look at the Ink Business Cash.

The Ink Business Cash has no annual fee and has a welcome offer $900 cash back after spending $6,000 on purchases in the first three months of account opening. The rewards program offers 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year, 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, and 1% cash back on all other purchases. 

The Ink Business Cash also offers primary car rental insurance, roadside dispatch and travel and emergency assistance services. But there’s no boost in rewards value for booking travel through Chase.

Chase Ink Business Preferred vs. The American Express Blue Business Cash™ Card * The information for the The American Express Blue Business Cash™ Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

If your business spends $50,000 or less annually, The American Express Blue Business Cash (terms apply) is worth considering for straightforward cash-back rewards.

The card doesn’t charge an annual fee and earns 2% cash back on all eligible purchases (automatically rewarded via statement credits), up to $50,000 per calendar year, then 1%.

Plus, the American Express Blue Business Cash offers a 0% intro APR on purchases for the first 12 months, then a 18.49% to 26.49% variable APR.

The travel benefits on the American Express Blue Business Cash are not as robust as the Chase Ink Business Preferred card’s, however, offering only secondary car rental loss and damage coverage¹ and access to the Global Assist Hotline².

Chase Ink Business Preferred vs. American Express® Business Gold Card * The information for the American Express® Business Gold Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

Another small business card to consider for a more customized earning path is the American Express Business Gold Card (terms apply), which earns American Express Membership Rewards® points. 

Cardholders can earn 4 Membership Rewards points per $1 on up to $150,000 in combined purchases each calendar year on the 2 select categories your business spends the most each month, 3 points per $1 on flights and prepaid hotels booked on amextravel.com and 1 point per $1 for other purchases.

There is a $295 ($375 if application is received on or after 2/1/24) annual fee, but the welcome offer is very competitive at 70,000 Membership Rewards points after spending $10,000 on purchases in the first three months of card membership.

Ink Business Cash® Credit Card

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On Chase Bank USA, NA’s Secure Website

Welcome Bonus

Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.

Earn $900 bonus cash back

Annual Fee

$0

Regular APR

18.49% – 24.49% Variable

Credit Score

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

(700 – 749) Good, Excellent

Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.

Editor’s Take

Pros

• No annual fee.
• Rich rewards rate in areas where businesses are likely to spend the most.
• Employee cards at no additional cost.

Cons

• There’s a foreign transaction fee.
• Bonus categories are capped at $25,000 in spending each account anniversary year.
• Lackluster rewards outside of bonus categories.

For business owners who are comfortable tracking various rewards categories, the Ink Business Cash Credit Card earns exceptional cash-back rewards, on areas of typical office spending and elevated rewards in other common business areas, too. Add in a larger-than-average welcome bonus, plus travel and purchase coverages and you’ve got a top-notch small business card.

Card Details

• Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
• Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
• Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases
• Round-the-clock monitoring for unusual credit card purchases
• With Zero Liability you won’t be held responsible for unauthorized charges made with your card or account information.
• No Annual Fee
• Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
• 0% introductory APR for 12 months on purchases
• Member FDIC

Should you get the Chase Ink Business Preferred?

If your business spends heavily on shipping, internet/cable/phone, social media and search engine advertising and travel, then the Chase Ink Business Preferred would be a good choice.

Despite its $95 annual fee, the rewards program and travel protections that come with this card can offer enough value to justify the fee if your business spending aligns with the above categories. 

If your business is just getting off the ground and your spending patterns don’t align well with the Chase Ink Business Preferred card, you may be better served with a no-annual-fee business card that offers a more flexible rewards program. 

Chase Ink Business Preferred summary

^{¹Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.}

^{²Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Card Members are responsible for the costs charged by third-party service providers.}