Chase Ink Business Preferred card review: A great credit card for small-business owners, with a sign-up bonus worth at least $1,250 in travel

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Ink Business Preferred® Credit Card

Chase Ink Business Preferred® Credit CardAverage 401(k) balance

You’ll earn bonus points in common small-business spending categories as well — 3x points on up to $150,000 in combined spending each year (then 1x) on:

  • Shipping purchases
  • Advertising purchases on social media sites and search engines
  • Internet, cable, and phone services
  • Travel (including airfare, hotels, rental cars, and more)

The Ink Business Preferred® Credit Card earns 1 point per dollar on all other purchases with no spending caps.

You’ll also get excellent travel and shopping benefits, including cell phone protection, trip cancellation/interruption insurance, primary car rental insurance (when renting for business purposes), extended warranty, and purchase protection.

If you’re not sure about paying an annual fee, or if the card’s bonus categories don’t fit your typical spending patterns, there are other Chase small-business cards that might be a better fit. For example, the no-annual-fee Ink Business Unlimited® Credit Card comes with a welcome bonus of $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening and earns a flat 1.5% cash back (1.5x points) on all purchases with no limits.

Or, consider the Ink Business Cash® Credit Card, which is offering the same intro bonus as the Unlimited card and earns 5% back (5x points) on the first $25,000 spent per year (then 1%) on internet, cable and phone services and at office supply stores, and 2% back (2x points) at gas stations and restaurants on up to $25,000 in combined purchases per year (then 1%). 

Bottom line: The Ink Business Preferred® Credit Card offers a huge welcome bonus and solid earning and benefits for a moderate annual fee. If your small-business expenses line up with the card’s bonus categories and you like redeeming Ultimate Rewards points for travel, the card is hard to beat.

We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

Comparison: Ink Business Preferred vs other Chase credit cards

 

Ink Business Preferred® Credit Card

Ink Business Cash® Credit Card

Ink Business Unlimited® Credit Card

Annual fee

$95

$0

$0

Rewards rate

3x points on shipping purchases, advertising purchases on social media sites and search engines, internet, cable, and phone services, and travel*

1x points on all other purchases

5% cash back (5x points) at office supply stores and on internet, cable, and phone services***

2% cash back (2x points) at gas stations and restaurants***

1% cash back (1x points) on all other purchases

1.5% cash back (1.5x points) on all eligible purchases with no cap

Welcome bonus

100,000 points after spending $15,000 on purchases in the first 3 months from account opening

$750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening

$750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening

Card benefits

Cell phone protection

Primary car rental insurance (when renting for business purposes)

Trip cancellation/interruption insurance

Extended warranty

Purchase protection

Travel and emergency assistance services

Roadside dispatch

Primary car rental insurance (when renting for business purposes)

Extended warranty

Purchase protection

Travel and emergency assistance services

Roadside dispatch

Primary car rental insurance (when renting for business purposes)

Extended warranty

Purchase protection

Travel and emergency assistance services

Roadside dispatch

Foreign transaction fee

No

Yes

Yes

Review

 Chase Ink Business Cash card reviewChase Ink Business Unlimited card review

*the Ink Business Preferred® Credit Card earns 3x points on the first $150,000 in combined purchases spent each account anniversary year in these categories (then 1x)

***5% cash back and 2% cash back on the Ink Business Cash® credit card on up to $25,000 in combined purchases each account anniversary year, then 1% cash back.

Comparison: Ink Business Preferred vs other small-business credit cards

 

Ink Business Preferred® Credit Card

American Express® Business Gold Card

Capital One Spark Miles for Business

Annual fee

$95

$295 (See Rates)

$95, waived the first year

Rewards rate

3x points on shipping purchases, advertising purchases on social media sites and search engines, internet, cable, and phone services, and travel*

1x points on all other purchases

4x points in the top two categories you spend the most in each month, on up to $150,000 in combined purchases each year (then 1x)***

1 point per dollar on all other purchases

2x miles on every purchase

Welcome bonus

100,000 points after spending $15,000 on purchases in the first 3 months from account opening

70,000 Membership Rewards® points after you spend $10,000 on eligible purchases within the first 3 months of card membership

50,000 miles once you spend $4,500 on purchases within the first 3 months

Card benefits

Cell phone protection

Primary car rental insurance (when renting for business purposes)

Trip cancellation/interruption insurance

Extended warranty

Purchase protection

Travel and emergency assistance services

Roadside dispatch

25% points rebate on first- and business-class flights (or economy flights on your selected airline) booked through Amex Travel 

Perks at Amex Hotel Collection properties

Secondary car rental insurance

Baggage insurance

Trip delay insurance

Purchase protection

Extended warranty

Global Assist Hotline

Car rental insurance (primary when renting for business purposes)

Up to $100 credit toward the Global Entry or TSA PreCheck application fee

Extended warranty

Purchase protection

Roadside assistance

Foreign transaction fee

No

No (See Rates)

No

Review

 

Amex Business Gold card review

Capital One Spark Miles for Business card review

*the Ink Business Preferred® Credit Card earns 3x points on the first $150,000 in combined purchases spent each account anniversary year in these categories (then 1x)

***the American Express® Business Gold Card 4x categories include airfare purchased directly from airlines, US gas stations, US restaurants, US shipping providers, US computer hardware, software, and cloud systems from select technology providers, and US purchases for advertising in select media (online, TV, radio)

How to use points from the Chase Ink Business Preferred card

The Ink Business Preferred® Credit Card earns transferable Chase Ultimate Rewards points, which you can use in a number of ways. The most popular redemptions are for travel — either by transferring to Chase’s airline and hotel partners, or by booking directly through the Ultimate Rewards travel portal.

Chase Ultimate Rewards points are worth, on average, 1.8 cents apiece based on Insider’s points and miles valuations, in part because of the ability to transfer them to partners like United Airlines and Hyatt.

The value you’ll get per point when you transfer to partners depends highly on the airline or hotel program and the specific redemption. When you use points from the Ink Business Preferred® Credit Card to book travel through the Chase portal, you’ll get a value of 1.25 cents apiece.

You’ll also get the 1.25 cents per point rate when you use points for statement credits toward eligible purchases through the Chase Pay Yourself Back program. Through June 30, 2021, the Ink Business Preferred® Credit Card Pay Yourself Back categories are home improvement stores, shipping, and eligible charity purchases (through December 31, 2021).

If you’re not ready to travel yet, there are plenty of other ways to redeem Ultimate Rewards points, including:

  • Cash back
  • Amazon or Apple purchases
  • Gift cards
  • Dining experiences and takeout orders with Chase Dining
  • Charity donations

Ink Business Preferred card benefits and features

Cell phone protection

I pay my monthly wireless bill with the Ink Business Preferred® Credit Card because it comes with cell phone protection of up to $600 per claim with a $100 deductible, up to three times per year. That includes the primary line and any additional lines on your bill.

This can be a real money-saver — before getting the card, I’d been paying AT&T about $9 per month for coverage — and when I had to file a claim for a shattered screen, the process was relatively simple. And, as a bonus, the card earns 3x points on wireless bills (up to $150,000 per year in combined purchases with internet, cable, travel, shipping, and search engine or social media advertising purchases, then 1x). 

Primary rental car insurance

Chase offers primary car rental insurance if you rent a car for business purposes using your Ink Business Preferred® Credit Card, which can save you a ton of money when you travel.

When you decline the collision insurance offered by the rental company and charge the entire cost of the rental to your card, you’re covered for theft and collision damage up to the actual cash value of most vehicles in the US and abroad. However, this doesn’t include liability, so you’ll have to pay for that separately or carry coverage through your own personal auto insurance policy.

Trip cancellation/interruption insurance

If you’ve made prepaid reservations (like hotels, tours, or airfare) with your Ink Business Preferred® Credit Card and your trip is canceled or interrupted for a covered reason, you may be eligible for reimbursement of up to $5,000 per person and $10,000 per trip.

Purchase protection

The Ink Business Preferred® Credit Card comes with purchase protection, which covers your new purchases made with the card for 120 days against damage or theft (up to $10,000 per claim and $50,000 per account).

Extended warranty

Ink Business Preferred® Credit Card cardholders also get extended warranty coverage which extends the time period of a US manufacturer’s warranty by an additional year, on eligible warranties of three years or less when you pay with the card.

Travel and emergency assistance and roadside dispatch

As a cardholder, you’ll also have travel and emergency assistance if you need help during your travels. While you will have to cover any third-party costs, a benefits administrator can help arrange what you need during an unexpected event. 

You’ll also get access to a roadside dispatch service, which can arrange help like a tow, jumpstart, or tire change. As with emergency assistance services, you’ll be responsible for covering the cost of any services.

Ink Business Preferred® Credit Card

Chase Ink Business Preferred® Credit CardChase Chase Sapphire Preferred® CardChase Marriott Bonvoy Boundless™ Credit CardChase Chase Freedom Unlimited®

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Please note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.

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