Chase Ink Business Preferred vs. Ink Business Unlimited: Which Ink card is the ideal choice for your business?

The market for business credit cards is filled with excellent choices. Determining the best fit for your business's requirements can be challenging.

Chase offers four small-business cards in its Ink family. The Ink Business Preferred® Credit Card is a favorite among TPG, featuring a $95 annual fee, various benefits, and the ability to earn valuable Chase Ultimate Rewards points transferable to travel partners.

The Ink Business Unlimited® Credit Card comes with no annual fee and offers a straightforward cash-back rate of 1.5% on all purchases.

Now, let’s examine both cards more closely to see which one aligns better with your business needs.

Comparison of Ink Business Preferred and Ink Business Unlimited

Welcome offer for Ink Business Preferred vs. Ink Business Unlimited

With the Ink Business Preferred, new users can earn 90,000 points after spending $8,000 in the first three months from account opening.

According to TPG's August 2024 valuations, this welcome bonus has a value of $1,845.

The Ink Business Unlimited provides new users with $900 cash back after spending $6,000 within the first three months of opening their account. If you have a card that earns Ultimate Rewards points, you can convert your cash-back rewards into points and transfer them to one of Chase's transfer partners.

It’s crucial to remember that both cards adhere to Chase's 5/24 rule.

Winner: The Ink Business Preferred. Its welcome offer is valued at nearly three times that of the Ink Business Unlimited, and its rewards can be transferred without requiring another card.

Benefits of Ink Business Preferred vs. Ink Business Unlimited

Both cards offer comparable benefits in terms of travel and purchase protections.

• Primary car rental insurance: When you pay for the full rental cost using either card for business travel, you're protected against theft and damage in the U.S. and most countries. Note that this does not include liability coverage, but you are insured up to the actual cash value of the rented vehicle.
• Purchase protection: This covers new items against theft or damage for up to 120 days, with a maximum of $10,000 per claim and $50,000 per account.
• Extended warranty: This adds an extra year to eligible U.S. manufacturer warranties that are three years or shorter.
• Employee cards: You can request additional cards for employees at no extra cost.

The Ink Business Preferred offers several additional perks that the Ink Business Unlimited does not include, such as:

• Cellphone protection: If you use your card to pay your monthly cellphone bill and your phone is stolen or damaged, you can claim up to $1,000 per incident with a $100 deductible, for a maximum of three claims per year.
• Trip cancellation/interruption insurance: If you need to cancel or shorten a trip due to a covered reason (like illness or severe weather), you can receive up to $5,000 for prepaid, nonrefundable travel expenses per person, with a total cap of $10,000 per trip, offering peace of mind for unexpected events.

It's worth mentioning that the Ink Business Unlimited incurs a 3% foreign transaction fee, whereas the Ink Business Preferred has no foreign transaction fees. This is an important consideration for frequent international travelers.

Winner: The Ink Business Preferred. This card surpasses the Ink Business Unlimited by offering cellphone protection, trip cancellation/interruption insurance, and no foreign transaction fees.

Rewards earning potential with the Ink Business Preferred vs. Ink Business Unlimited

The Ink Business Preferred features more bonus categories compared to the Ink Business Unlimited. As a cardholder, you'll earn 5 points for every dollar spent on Lyft rides until March 2025. Additionally, you’ll earn 3 points per dollar on up to $150,000 in combined purchases annually on:

• Travel
• Shipping costs
• Internet, cable, and phone services
• Advertising expenditures through social media platforms and search engines

For all other purchases or once you reach $150,000 in combined spending in the above bonus categories, you'll receive 1 point for every dollar spent.

According to TPG's valuations, Chase Ultimate Rewards points are valued at 2.05 cents each, meaning you earn a 6.15% return on your bonus category purchases and a 2.05% return on all other purchases.

With the Ink Business Unlimited, cardholders receive 5% cash back on Lyft rides through March 2025, along with a flat 1.5% cash back on all other purchases, with no spending limit.

Winner: The Ink Business Preferred. This card offers the opportunity to earn bonus rewards across a wider range of categories.

Reward redemption options for the Ink Business Preferred vs. the Ink Business Unlimited

Although both cards belong to the Ink family, their redemption options differ significantly.

With the Ink Business Preferred, you have three ways to redeem your points. You can cash them out, with each point valued at 1 cent. Additionally, you can use them for travel in two distinct ways.

You can either redeem points for travel through the Chase travel portal, where points are valued at 1.25 cents each, or transfer them to any of Chase's 14 esteemed airline and hotel partners at a 1:1 ratio.

With the Ink Business Unlimited, you can redeem your points for cash back, gift cards, or travel through Chase Travel.

If you wish to utilize Chase's transfer partners, you'll need to combine your rewards from the Ink Business Unlimited with a premium Ultimate Rewards card like the Ink Business Preferred, the Chase Sapphire Preferred, or the Chase Sapphire Reserve.

Winner: The Ink Business Preferred. While both cards allow for cash back or travel redemptions through Chase Travel, the Ink Business Preferred doesn't require another card to access Chase's travel partners.

Should I choose the Ink Business Preferred or the Ink Business Unlimited?

If you frequently spend on bonus categories like advertising or shipping and want to make the most of Chase's transfer partners, the Ink Business Preferred is an excellent choice to maximize your rewards potential. However, if you prefer a simple one-card setup without the need to track bonus categories, I recommend the Ink Business Unlimited for its straightforward unlimited cash-back rewards.

Conclusion

Both cards are excellent choices; the decision ultimately hinges on your business's specific needs. They both provide a range of travel and purchase protections and the opportunity to earn valuable points or cash back, so you can't go wrong with either option.

Opt for the Ink Business Preferred if you aim to maximize your earnings through bonus categories, or choose the Ink Business Unlimited for a straightforward cash-back experience.

For more information, check out our comprehensive reviews of the Ink Business Preferred and the Ink Business Unlimited.