January 22, 2021

Model Desac

It’s Time to Fly

Chase Ink Business Preferred Credit Card Review

5 min read

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Ink Business Preferred® Credit Card

Ink Business Preferred® Credit Card

Rewards rate:

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.

  • Intro bonus: 100,000 points
  • Annual fee: $95
  • Regular APR: 15.99% to 20.99% Variable
  • Recommended credit score: 670-850 (Good to Excellent)

The Chase Ink Business Preferred Credit Card has great perks for business owners. With rewards earning potential across four categories of business expenses, and a valuable sign-up bonus, this card can grab a lot of value.

At a Glance

  • 100,000 bonus points after spending $15,000 on purchases in the first three months after account opening
  • 3x points on travel; shipping purchases; internet, cable, and phone services; and advertising purchases made with social media sites and search engines on up to a combined $150,000 per year
  • 1x points on all other purchases
  • 25% more points value when redeemed for travel 
  • $95 annual fee
  • 15.99%-20.99% APR

Pros

  • Great welcome offer

  • Tiered rewards structure with diverse category options

  • Access to Chase Ultimate Rewards

Cons

  • Annual fee

  • $150,000 annual spending cap to earn 3x rewards rate

Additional Card Details

This card offers great returns on regular business expenses, but it also comes with a few valuable perks for small business owners, especially if your business requires frequent travel:

  • Employee cards at no additional cost
  • No foreign transaction fees
  • Trip cancellation and interruption insurance
  • Roadside assistance
  • Purchase protection and extended warranty
  • 1:1 point value when you transfer to a Chase transfer partner
  • Cellphone protection 
  • Auto rental collision damage waiver

Should You Get this Card?

If you’re a business owner who does much of your spending within eligible bonus categories — like shipping, internet, and online advertising —  then this card’s value can easily offset its $95 annual fee. But if your business expenses fall outside of those categories, or you want a straight-up cash back option, it isn’t the best option. 

This also might not be the best card if you’re not a business traveler, as travel is one of the eligible 3x bonus categories and you’ll get maximum redemption opportunity by redeeming your points for travel through Chase Ultimate Rewards. 

If your business does a lot of spending across the 3x rewards categories, be mindful of the $150,000 annual cap. Depending on how much your business spending exceeds that cap, you might get more value from another card with unlimited rewards in your high-spend categories, even if it comes with additional costs. 

And you don’t need payrolled employees and a cash register to qualify for a business card — sole proprietors can use a Social Security number in lieu of a business tax ID. If you freelance, babysit, drive for a rideshare or food delivery service, or sell goods on Etsy, you can qualify. 

How to Use Chase Ink Business Preferred

Your first step is to make sure you get that valuable introductory offer. If you spend $15,000 in purchases within the first three months of account opening (equal to at least $5,000 in monthly spending), you’ll get 100,000 bonus points. That’s worth $1,250 when redeemed for travel through Chase Ultimate Rewards. 

You can further maximize your rewards-earning potential by making sure you use this card for all business purchases in the 3x rewards categories, up to the $150,000 spending cap. If you max out this category on your combined business spending annually, you’ll earn 450,000 Ultimate Rewards points each year — worth $4,500 in redemption value, or $5,625 when you redeem for travel. 

You’ll also earn 1 point per dollar on all other purchases, but consider pairing your Chase Ink Business Preferred with another card that earns more points or cash back outside of those 3x categories. 

For example, if you also own the Chase Ink Business Unlimited, you’ll earn a flat 1.5% cash back on every purchase for no annual fee. You can pool all of the points you earn with both cards and redeem them at the same time through Chase Ultimate Rewards.

You’ll get the most value for your points when using them to book travel, but you can redeem points directly for purchases or for statement credits on your credit card bill. If you do use them to book travel through Chase Ultimate Rewards, your points will be 25% more valuable. One point is usually worth 1 cent (100 points = $1), but if you use them to book travel your points will be worth 1.25 cents, or 100 points = $1.25. 

Your points won’t expire a long as your account is open. 

Chase Ink Business Preferred Compared to Other Cards

Ink Business Preferred® Credit Card

Ink Business Preferred® Credit Card

  • Intro bonus:
  • Annual fee:

    $95

  • Regular APR:

    15.99% to 20.99% Variable

  • Recommended credit:

    670-850 (Good to Excellent)

  • Learn moreexterna link icon at our partner’s secure site
Ink Business Cash® Credit Card

Ink Business Cash® Credit Card

  • Intro bonus:
  • Annual fee:

    $0

  • Regular APR:

    13.24% – 19.24% Variable

  • Recommended credit:

    670-850 (Good to Excellent)

  • Learn moreexterna link icon at our partner’s secure site
Capital One Spark Cash for Business

Capital One Spark Cash for Business

  • Intro bonus:
  • Annual fee:

    $0 intro for first year; $95 after that

  • Regular APR:

    20.99% (Variable)

  • Recommended credit:

    670-850 (Good to Excellent)

  • Learn moreexterna link icon at our partner’s secure site

Bottom Line

For frequent business travelers, this card can help you score big rewards at a $95 annual fee. You’ll be able to add employee cards at no additional charge, so you can earn points on all your business expenses. 

Frequently Asked Questions

Yes, there is a $95 annual fee.

The best Chase business card for you depends on your business and regular spending. Beyond the Ink Business Preferred, the Chase Ink Business Cash (5% cash back on up to $25,000 spent annually at office supply stores and on internet, cable, and phone services; 2% cash back at gas stations, and restaurants) and Chase Ink Business Unlimited (unlimited 1.5% cash back on every purchase) offer rewards on business spending for no annual fee.

There’s no additional cost for employee cards added to your card account. Employees are established as authorized users on your account, and will have equal charging privileges unless you set individual spending limits for each of them.

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