Our take: The Chase Ink Business Preferred® Credit Card is a business rewards powerhouse, offering a welcome bonus that will stop you in your tracks and bonus rewards on common business expenses, all with an affordable annual fee. Depending on your company's spending profile, however, it may not be the right fit.
Chase Ink Business Preferred: Overview
Card type: Business
The Ink Business Preferred® Credit Card offers a lot of rewards value for small business owners, both when it comes to earning and redeeming your points. The card offers an impressive welcome bonus of 100,000 points after spending $8,000 in the first three months of card opening.
Cardholders will also earn a high rewards rate on a variety of business expense categories, including shipping, select advertising, internet, cable, and phone services and travel—though the spending cap could be somewhat limiting for larger businesses.
When you're ready to redeem your rewards, you'll get 25% more value on travel booked through Chase. But you'll also have the flexibility to transfer your points to various airline and hotel loyalty programs or opt for non-travel redemptions without losing much value.
Who is Ink Business Preferred® Credit Card good for?
The Ink Business Preferred® Credit Card is best suited for small business owners who spend a lot in its bonus categories.
While there are other business rewards credit cards that offer accelerated earning on some of those same categories, the Ink Business Preferred card's versatile rewards program is a great fit for people who want a lot of flexibility to use their rewards the way they want.
Who shouldn’t get Ink Business Preferred® Credit Card?
The card may not be the right fit if you don't spend much on things like shipping, advertising, internet, cable, and phone services, or travel. The same goes if your business spends far more than the Ink Business Preferred's annual spending cap for those bonus categories.
Finally, if you don't have many expenses at all, it may make more sense to opt for a card with no annual fee or one that offers a better rewards rate on your top expenses.
Chase Ink Business Preferred: How to earn rewards
The Ink Business Preferred® Credit Card makes it easy to quickly earn a lot of rewards, especially as a new cardholder. New customers can earn 100,000 points after spending $8,000 in the first three months of card opening. The bonus could be worth between $1,000 and $1,250, depending on how you redeem those points.
That's roughly $2,667 in monthly spending, which may be steep for smaller and newer businesses. But if you can meet that threshold with your regular expenses, the value of the bonus is tough to beat.
The Chase Ink Business Preferred® Credit Card doesn’t have rotating categories to track. Instead, cardmembers earn three points per $1 spent on the first $150,000 of combined purchases in the following categories:
- Advertising through social media or search engines
- Internet, cable and phone services
- Shipping purchases
- Travel
All other purchases will net you just 1 point per dollar, so if you don't spend a lot in those bonus categories, the Ink Business Preferred® Credit Card may not be the right fit.
Until March 2025, you’ll also earn five points per $1 spent on Lyft rides.
How to redeem Chase Ink Business Preferred Card points
Chase's Ultimate Rewards program offers a long list of redemption options, giving business owners ultimate flexibility with their points. Here's a quick summary of each of your options and how much value you can expect.
Book travel through Chase
Whether you want to book a flight, hotel stay, rental car, cruise, or trip activity, you'll get 1.25 cents per point when you do it through the Chase Ultimate Rewards program.
Transfer to other rewards programs
In some cases, you can get even more value by transferring your points to one of Chase's 14 frequent airline and hotel rewards program partners. Each one offers a 1:1 transfer ratio, which is generous compared to similar rewards programs that have less favorable ratios with some partners. Eligible transfer partners include:
- Aer Lingus AerClub
- Air Canada Aeroplan
- British Airways Executive Club
- Emirates Skywards
- Flying Blue (Air France/KLM)
- Iberia Plus
- IHG Rewards Club
- JetBlue TrueBlue
- Marriott Bonvoy
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards
- United MileagePlus
- Virgin Atlantic Flying Club
- World of Hyatt
Cash back
If you prefer cash back, you can request a deposit to your bank account or a statement credit, with both options giving you a redemption value of 1 cent per point.
With the card issuer's Pay Yourself Back program, you could even get up to 1.25 cents per point when you request a statement credit for certain spending categories, which change regularly.
Gift cards
If you're planning a night out or a shopping trip, you can use your points to get gift cards from popular restaurant chains and retailers. The standard redemption rate is 1 cent per point, but the card issuer often offers discounts.
Online shopping
There are a few ways you can use your Ultimate Rewards points for merchandise, including paying for purchases on Amazon.com or through PayPal and buying Apple products directly through the Ultimate Rewards platform.
For Apple products, you'll typically get 1 cent per point, with occasional bumps to 1.25 cents apiece. If you use your rewards for Amazon.com or PayPal purchases, however, they're worth just 0.8 cents each, which is the rewards program's worst redemption option.
Dining experiences
If you're looking to schmooze potential clients or partners, you can use your rewards to book exclusive dining experiences and elusive reservations at a redemption rate of 1 cent per point.
Chase Ink Preferred rates and fees
- Purchase APR: 21.24%–26.24% variable
- Annual fee: $95
- Foreign transaction fee: None
Additional benefits
The Chase Ink Business Preferred® Credit Card offers a variety of valuable benefits that are particularly useful for business travel:
- Auto rental collision damage waiver: When you or your employees rent a vehicle using your card and decline the rental company's coverage, you’re backed by primary auto rental collision damage protection. The rental vehicle is insured against damages or theft resulting from a collision.
- Cell phone protection: You and your employees are covered by cell phone protection if you pay the monthly bill with your card. This perk reimburses you up to $1,000 per claim against theft or damage. You’re allowed up to three claims per year, each with a $100 deductible.
- Extended warranty protection: The card extends the warranty by one year on eligible purchases with manufacturer warranties of three years or less.
- Purchase protection: When you make purchases with your card, they're protected for 120 days against damage or theft, up to a maximum of $10,000 per claim and $50,000 per account.
- Roadside dispatch: Your card includes roadside assistance, allowing you to get help when your car breaks down and you need a towing service or a tire change. However, this benefit doesn't include the cost of provided services; you are responsible for paying for any services provided.
- Travel cancellation/interruption insurance: If a trip booked with your Chase card is canceled or interrupted by illness, severe weather, or other eligible circumstances, you’ll be reimbursed up to $5,000 per person and $10,000 per trip for your nonrefundable, prepaid travel expenses.
- Free employee cards: You can request additional cards for your employees at no extra cost and earn rewards on their transactions.
Credit cards similar to the Chase Ink Business Preferred Card
To get the most out of the Chase Ink Business Preferred Card, you need to be a small business owner who spends substantial amounts of money in specific categories and travels enough to maximize this card’s features. If you tend to have expenses outside those categories or rarely travel for work, one of the following cards may be a better fit.
Chase Ink Business Unlimited vs. Chase Ink Business Preferred
Businesses with fewer costs or less complex spending may prefer the Ink Business Unlimited® Credit Card, which offers a flat 1.5% cash back on every purchase. You'll also earn a solid $750 bonus when you spend $6,000 in the first three months—a value that's nearly unheard of for a card with no annual fee.
The Ink Business Unlimited also offers an introductory 0% APR promotion on purchases, making it a better option for business owners who want to pay down a large expense or need some time to pay off operating expenses when revenue is uncertain. But while both cards offer the same redemption options, only the Ink Business Preferred offers bonus value on travel redemptions and access to transfer partners.
American Express® Business Gold Card vs. Ink Business Preferred® Credit Card
If you're willing to pay a $375 annual fee in exchange for more business perks, the American Express® Business Gold Card is worth considering. The card offers a lower welcome bonus of 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership, but it also gives you 4 points per dollar on your top two spending categories each month from a list of six—albeit with the same $150,000 annual spending cap.
While the Ink Business Preferred is a bit lacking in ancillary perks, the Amex Business Gold Card offers up to $20 per month in statement credits for purchases at FedEx, Grubhub and office supply stores and a complimentary Walmart+ membership. You'll also get cell phone protection, purchase protection, extended warranty coverage, trip delay insurance, and baggage insurance.
To view rates and fees of the American Express® Business Gold Card, see this page.
Is the Chase Ink Business Preferred Card right for you?
With a great welcome bonus, solid rewards rates, and a versatile rewards program, the Ink Business Preferred® Credit Card is a great option for small business owners who have expenses that align with the card's bonus rewards categories and want a lot of control over how they use their rewards.
Before you apply, though, take a look at your expenses, needs, and preferences, and then compare other business rewards credit cards to ensure you get the best one for your business.
Frequently asked questions
What credit score is needed for Chase Ink Business Preferred?
Like most small business credit cards, the Ink Business Preferred requires a personal credit check when you apply. While Chase doesn't publicly disclose a minimum credit score requirement, you'll have a better chance of getting approved if you have good or excellent credit.
According to FICO, that typically translates to a credit score of 670 or higher.
What is the credit limit for Chase Ink Business Preferred?
To determine your credit limit, the card issuer will evaluate your credit report, company details, financial information, and other factors. The minimum credit limit is $5,000, but can be much higher depending on your situation. If Chase is considering giving you a limit above $25,000, the lender may ask for additional information.
Is Chase Business Ink worth it?
The Ink Business Preferred Card offers a lot of value, but only if your business expenses align with the card's bonus rewards categories and the minimum spending requirement for its welcome bonus.
Please note that card details are accurate as of the publish date but are subject to change at any time at the issuer’s discretion. Before applying, please contact the card issuer to verify rates, fees, and benefits.
