5 reasons to consider the Chase Ink Business Preferred Credit Card

Since its introduction in 2016, the Ink Business Preferred® Credit Card has quickly gained popularity among small-business credit cards.

With a $95 annual fee, it’s a great deal, especially compared to the American Express® Business Gold Card at $375 annually (see rates and fees), and The Business Platinum Card® from American Express, which costs $695 annually (see rates and fees).

Here are five additional compelling reasons to consider adding the Chase Ink Business Preferred card to your collection.

Remarkable sign-up bonus

By using the Ink Business Preferred, you can earn 90,000 Chase Ultimate Rewards points after spending $8,000 within the first three months of opening your account. These points are considered some of the most valuable in the rewards market, with a bonus value of $1,845 according to TPG's latest evaluations.

Although $8,000 is a considerable amount for individuals, many small businesses can readily meet this requirement. Ultimately, you understand your spending habits best and can determine if the sign-up threshold is within reach.

The 90,000 Chase Ultimate Rewards points can unlock a variety of fantastic redemptions. For instance, you can transfer these points to Virgin Atlantic Flying Club to book round-trip Delta One business-class suites to Europe for yourself.

Valuable bonus categories for small businesses

With the diverse bonus categories offered by the Ink Business Preferred, accumulating Chase Ultimate Rewards points is a breeze.

You’ll earn 3 points for every dollar spent on the first $150,000 in combined purchases during each account anniversary year in these categories:

• Travel
• Shipping
• Internet, cable, and phone services
• Advertising on search engines and social media platforms

All other purchases earn 1 point for every dollar spent.

By fully utilizing your bonus categories, you could accumulate 450,000 Chase Ultimate Rewards points each year, valued at $9,225 according to TPG's assessments. This offers remarkable value, particularly for a card with just a $95 annual fee.

Incredible redemption opportunities

A standout feature of the Chase Ink Preferred is the ability to transfer your points to any of Chase's 14 airline and hotel partners. Transfers occur at a 1:1 ratio, and most are processed instantly.

You can transfer your points to any of the following airline loyalty programs:

• Aer Lingus AerClub
• Air Canada Aeroplan
• Air France-KLM Flying Blue
• British Airways Executive Club
• Emirates Skywards
• Iberia Plus
• JetBlue TrueBlue
• Singapore Airlines KrisFlyer
• Southwest Airlines Rapid Rewards
• United MileagePlus
• Virgin Atlantic Flying Club

Considering alliance partners, you have an exceptionally broad selection of airline choices. For instance, transferring your points to British Airways Avios grants you access to flights from Oneworld alliance partners like American Airlines, Finnair, and Japan Airlines.

Moreover, your points can be transferred to Chase's three partner hotel programs:

• IHG One Rewards
• Marriott Bonvoy
• World of Hyatt

You can also redeem your points for 1.25 cents each (or 1.5 cents each if you hold the Chase Sapphire Reserve® and merge your points with that account) through Chase Travel℠. Additionally, you'll earn frequent flyer miles on any flight bookings made via Chase, as they're treated like paid tickets.

Cellphone, travel, and purchase protections

While insurance may not be the most exciting topic, it can save you a significant amount of money. The Ink Business Preferred card offers substantial savings in this regard.

For example, it provides coverage for you and your employees in case of cellphone incidents. Each person is protected for up to $1,000 for theft or damage per claim, as long as the number is listed on your monthly bill and the bill is paid with your card.

There is a maximum of $3,000 in claims allowed per 12-month period (up to three claims annually), with a $100 deductible for each claim.

The Ink Business Preferred also provides a variety of travel perks for frequent travelers:

• Primary car rental insurance: If you opt out of the collision damage waiver at the rental desk and use your Ink Business Preferred card to pay for the rental, you are covered for physical damage, theft, towing, and loss-of-use charges up to the full value of the vehicle. This is primary coverage, so you won’t need to involve your personal insurance. Note that liability for damage to others is not included. Rentals must be for business purposes in the U.S., although personal rentals are covered during international trips. This insurance is valid for rentals lasting 30 days or less.
• Trip delay and cancellation insurance: If your trip is canceled due to a covered reason (like illness or severe weather), you may receive up to $5,000 per claim per trip for prepaid expenses such as airfare and accommodations. If your trip is delayed by 12 hours or more, you can get reimbursed up to $500 for your hotel, meals, and transportation (you must provide airline documentation to confirm the delay). In both situations, your payment must be made with your card, and receipts should be kept.
• Lost luggage reimbursement: If you charge your fare to the card, each traveler is eligible for coverage up to $3,000 for lost checked or carry-on luggage. Reimbursement for high-value items like jewelry, cameras, and electronics is capped at $500 per person.
• Baggage delay insurance: If your luggage is delayed for more than six hours, this benefit offers up to $100 per day for five days to purchase necessary items.
• Travel accident insurance: You and your travel companions are insured up to $500,000 for accidental death or dismemberment while using a common carrier.
• Purchase protection: If an item you purchase is stolen or damaged within 120 days, you're covered up to $10,000 per claim, with a maximum of $50,000 per account. At least part of the purchase price must be charged to the card. This coverage can be particularly beneficial for small-business owners buying office supplies or electronics.

While it's preferable not to rely on the insurance benefits that accompany your card, having that coverage provides peace of mind and can save you money by eliminating the need for additional insurance or purchase protection.

Combine your points with other Chase credit cards

Chase offers several cards that function primarily as cash-back options: the Chase Freedom® (no longer accepting new applicants), Chase Freedom Unlimited®, Chase Freedom Flex®, Ink Business Unlimited® Credit Card, and Ink Business Cash® Credit Card.

These cards also accumulate points that can be converted to Ultimate Rewards points, provided you hold a card that earns Ultimate Rewards, such as the Ink Business Preferred Credit Card. With the Ink Business Preferred, you can boost the value of other Chase cards you own.

The details for the Chase Freedom have been compiled independently by Dinogo. The card specifics on this page have not been reviewed or approved by the card issuer.

Additional perks

In addition to the benefits mentioned earlier, the Ink Business Preferred provides several other valuable advantages:

• No additional cost for employee cards.
• No foreign transaction fees for purchases made outside the U.S.
• Zero liability protection, so you aren't held accountable for unauthorized charges.
• Fraud protection with real-time monitoring of your account.
• Extended warranty coverage that adds an extra year to eligible U.S. manufacturer's warranties of three years or less.

Final thoughts

For a small-business credit card, the Ink Business Preferred Credit Card delivers an exceptional package: a significant sign-up bonus, ample opportunities to earn points, the option to transfer points to 14 travel partners, and a wide range of travel protections.

If you're thinking about applying for the Ink Business Preferred, keep in mind that it is subject to Chase's 5/24 rule. This means that if you've opened five or more credit card accounts in the last two years, you are likely to be declined regardless of your credit status. To enhance your chances of approval, consider applying for this card (and other Chase cards) before applying for cards from other issuers.

For additional details, check out our comprehensive review of the Chase Ink Business Preferred card.