Achieving the $8,000 spending requirement on the Ink Business Preferred in just 3 months

The Ink Business Preferred® Credit Card is frequently recognized as one of the top business cards available. With extensive bonus categories, a robust array of travel and purchase protections, and a modest $95 annual fee, this card becomes even more appealing with its impressive six-figure welcome bonus.

Currently, new applicants can receive 90,000 bonus points by spending $8,000 within the first three months of account opening.

According to TPG's July 2024 valuations, Ultimate Rewards points are valued at 2.05 cents each, making this sign-up bonus worth $1,845 — the best offer in the card's history.

Although the sign-up bonus is tempting, cardholders need to meet a hefty $8,000 spending requirement before those bonus points appear in their account. One of TPG's 10 commandments for credit cards is to always secure the sign-up bonus, so it's crucial to plan how to meet this spending limit within the given timeframe without straining your budget.

Whether you’re a freelancer, self-employed, or run a brick-and-mortar store, let's explore how to responsibly qualify for the Ink Business Preferred's sign-up bonus.

Tips for fulfilling the Ink Business Preferred minimum spending requirement

If you have substantial ongoing business expenses (like equipment or advertising), reaching $8,000 in three months should be manageable. But what if you're self-employed with few or no regular expenses?

Here are some innovative strategies to help you meet the Ink Business Preferred's minimum spending requirements:

Channel all your business expenses to your new card

If this is your first business credit card, it's clear that you should charge all business expenses that can be paid with a credit card to your new Ink Business Preferred. Even if you have another business card, it's beneficial to focus on the Ink Business Preferred for these three months, even if it means missing out on bonus points from another card.

Think about covering rent or mortgage payments

For those with a physical location or office, one of the simplest ways to chip away at the spending requirement is to pay your rent or mortgage with your card. If you’re self-employed, consider using the Ink Business Preferred for your personal rent or mortgage. While there may be a fee for using a credit card, calculate whether the fees are worth it to help you meet the goal.

Even if your landlord doesn’t accept credit cards, you can utilize services like Plastiq, a payment platform that allows you to use almost any debit or credit card for bill payments. Keep in mind there’s a processing fee of up to 2.9%.

For instance, if your total rent for three months is $9,000, using Plastiq could result in approximately $260 in fees — but you’ll have covered the entire spending requirement from a single expense while earning points.

Prepay upcoming utilities or bills

In a similar vein, consider prepaying utilities or bills you’ll need to cover later. Whether it’s your cellphone bill — which, by the way, can trigger the card's cellphone insurance — car payments, insurance, or other recurring costs, try to pay as much as possible upfront with the card (while keeping your budget in mind).

Make your tax payments

One effective way to reach your minimum spending requirement is to prepay your quarterly (and other) taxes with your Ink Business Preferred card. Just be aware that there’s a fee of 1.82%-1.98% when paying taxes with a credit card.

Plan your trip in advance

Whether you’re thinking about booking your first cruise or a dream trip abroad, use your card to make those reservations. Plus, the Ink Business Preferred provides 3 points per dollar spent on travel, allowing you to accumulate a significant amount of points by planning ahead.

If you're still struggling, charge expenses you typically wouldn’t

If you're falling short of the spending requirement, it’s the perfect time to use your Ink Business Preferred for as many everyday expenses as possible. While you may not earn bonus points on groceries, dining, gas, and other common purchases during this period, every dollar contributes towards reaching that bonus.

Important considerations

When you’re not actively pursuing a sign-up bonus, it’s advisable to avoid using your credit card in ways that wouldn’t make sense under normal circumstances. For example, try to steer clear of unnecessary fees or using the Ink Business Preferred for non-bonus transactions.

Here are some additional factors to keep in mind while aiming for this sign-up bonus:

Avoid excessive spending

To earn a sign-up bonus — even a fantastic six-figure one — ensure you’re not spending beyond your means. You should only charge $8,000 in expenses to this card if you can afford to pay it off either immediately or by the due date on your monthly statement. Avoid falling into a debt trap that could harm your financial health and credit score.

Steer clear of carrying a balance

When charging significant expenses to your card, it’s crucial to avoid carrying that balance and the resulting late fees and interest charges. Pay your statement in full and on time to prevent these fees from diminishing the value of your sign-up bonus.

Be mindful of timing

The clock for earning the sign-up bonus starts the moment you’re approved, but your card may take up to 10 business days to arrive, which can significantly reduce your three-month window. Stay alert to the exact deadline for meeting the minimum spending requirements.

Key takeaway

Meeting an $8,000 spending requirement in three months is a significant commitment. If you’re thinking about applying for the Ink Business Preferred, create a strategy to meet this requirement without falling into debt. This sign-up bonus can offer tremendous value to the right cardholders, particularly if you're integrating the Ink Business Preferred into your Chase trifecta strategy.

If you’re still uncertain, take a look at our comprehensive review of the Ink Business Preferred to determine if this card is the right choice for you.