The Chase Ink Business Preferred® Credit Card stands out as a top choice for small businesses seeking a rewards-rich credit card solution. With a modest $95 annual fee—significantly lower than competitors like the Amex Business Gold ($375) or Platinum ($895)—this card delivers substantial value through its bonus categories, redemption flexibility, and comprehensive protections.
Why Choose the Ink Business Preferred?
This card is designed for businesses that can capitalize on its spending bonuses and leverage the power of Chase Ultimate Rewards. Here’s a breakdown of its key advantages:
Generous Welcome Bonus: New cardholders can earn 100,000 bonus points after spending $8,000 in the first three months. These points are valued at over $2,050 based on current redemption rates, making it a lucrative initial incentive.
Lucrative Spending Categories: Earn 3x points per dollar on up to $150,000 annually in combined purchases across several key business expenses:
– Travel
– Shipping
– Internet, cable, and phone services
– Advertising with search engines and social media
All other purchases earn 1x points. High-spending businesses can accumulate up to 450,000 points annually, worth approximately $9,225.
Ultimate Rewards Flexibility: Chase Ultimate Rewards points are among the most valuable in the industry due to their transferability. You can move points to 13 airline and hotel partners at a 1:1 ratio for maximum value. Options include transfers to Virgin Atlantic for premium flights or World of Hyatt for high-value hotel redemptions.
The Points Boost feature in Chase Travel allows redemptions of up to 1.75 cents per point (or 2 cents with the Sapphire Reserve), alongside the accrual of frequent flyer miles.
Robust Protection Suite: Beyond rewards, the Ink Business Preferred offers valuable protection:
– Cellphone Protection: Covers up to $1,000 per claim (up to $3,000 annually) for lost or damaged phones when paid with the card.
– Travel Insurance: Includes primary car rental insurance, trip delay/cancellation coverage, lost luggage reimbursement, and purchase protection.
Pooling Points for Increased Value
The Ink Business Preferred allows you to combine points with other Chase cards, such as the Freedom Unlimited, Freedom Flex, Ink Business Unlimited, or Ink Business Cash. This synergy amplifies redemption options and maximizes overall value.
Additional Benefits
The card also includes:
– No foreign transaction fees
– Zero liability protection against unauthorized charges
– Extended warranty protection on eligible purchases
– Employee cards at no extra cost
The 5/24 Rule: A Key Consideration
Chase operates under the “5/24” rule, meaning applications are often declined if you’ve opened five or more credit cards in the past two years. To increase approval odds, apply before opening other cards from different issuers.
In conclusion, the Chase Ink Business Preferred Credit Card is a powerful tool for small businesses seeking a high-reward, versatile credit card. Its combination of generous bonuses, flexible redemption options, and comprehensive protections makes it an excellent choice for maximizing business spending.
