The Chase Ink Business Preferred Credit Card was introduced in late 2016, and 3 years later, continues to be one of the best business cards on the market. Not only does it offer a great welcome bonus for new cardmembers, it also offers solid bonus categories, and provides a variety of valuable benefits and protections to cardmembers.
All of this is included for a reasonable annual fee, especially when compared to some of its competitors.
If you’ve been thinking about getting the Ink Preferred card, here are 10 reasons why it could make sense for you:
In This Article
The Ink Preferred comes with a welcome bonus of 80,000 Chase Ultimate Rewards points after spending $5,000 on purchases within the first three months.
If you redeem those 80,000 points in the Chase travel portal, they’re worth a fixed value of 1.25 cents per point which means the welcome bonus is worth at least $1,000 in travel. If you also have the Chase Sapphire Reserve, you can combine the points you earn and then redeem in the Chase travel portal via the Sapphire Reserve at 1.5 cents per point. That’s $1,200 in travel from the welcome bonus alone.
Of course, you might even get more value by transferring Chase Ultimate Rewards points to airline and hotel partners, but at an absolute minimum, a welcome bonus of $1,000 on a card requiring a $5,000 minimum spend is an excellent value.
The Ink Preferred offers several bonus categories that can be useful to small business owners. You earn 3x points on the first $150,000 of spend across the following categories:
- Shipping purchases
- Internet, cable and phone services
- Advertising purchases made with social media sites and search engines
It’s important to note that the $150,000 earning threshold is based on your cardmember year and not the calendar year. So if you applied for and were approved for the card in August, then your cardmember year for the $150,000 threshold would be August-July of the following year.
All other purchases, whether in non-bonus categories or in the above categories once you’ve surpassed the $150,000 threshold, earn at a rate of 1X point per dollar of spend.
The Ink Preferred comes with an annual fee of $95. For me, I’d be more than happy paying $95 per year for this card just based on its generous welcome bonus and its bonus categories.
The card also comes with a slew of benefits outlined below that further justify its place in your wallet year after year.
For some context, other business cards offer similar perks but have annual fees of $150-550 which illustrates the value of the Ink Preferred.
The Ink Preferred has consistently maintained a very lucrative referral bonus for referring family and friends. If you share your referral link with a family member or friend and they are approved for the Ink Preferred, you’ll earn a bonus of 20,000 Chase Ultimate Rewards points.
Using our same travel portal math above, at a value of 1.25 cents per point, that’s a minimum of $250 as a bonus for you for referring friends and family to the card. If you refer just one person per year, you’ve more than made up for the $95 annual fee that accompanies this card.
Chase does limit you to earning 100,000 Ultimate Rewards points per year for referrals for this product, or the minimum value of $1,250 in the travel portal.
If the above perks still haven’t convinced you, the cell phone protection feature might.
The Ink Preferred offers up to $600 per claim if you use your Ink Preferred to pay your monthly cell phone bill (on which you’ll earn 3X points!). Even better, so long as you and your employees are all on the same plan that you pay with the Ink Preferred, then you’re all extended this same coverage and have $600 per claim to spend for covered incidents such as damage or theft of cell phones.
You are limited to 3 claims in a 12-month period, and the claims do come with a $100 deductible, but have you seen how much it costs to buy an iPhone lately? Truly a great benefit for a card with an $95 annual fee.
If you book travel with your Ink Preferred card, and unfortunately have to cancel due to a covered reason (such as a medical issue or severe weather), then you’re eligible for reimbursement of up to $5,000 of prepaid nonrefundable trip expenses such as tours, hotels, travel, and more.
If you use the Ink Preferred card to pay for a flight and it’s delayed by a minimum of 12 hours for a covered event (which includes weather related issues that airlines often don’t provide coverage for), then you’re eligible for reimbursement for up to $500 towards hotel accommodations, meals, transportation and more.
If you rent a car for business purposes, not only will you earn 3X points but by booking with the Ink Preferred, you’ll also be eligible for primary collision damage waiver coverage and theft in the U.S. as well as most countries around the world.
Over the last few years, we’ve seen a number of cards drop benefits such as purchase protection from the array of benefits offered. But the Ink Preferred continues to offer purchase protection to its cardmembers. The Ink Preferred covers new purchases for 120 days against damage or theft, up to $10,000 per claim with a maximum of $50,000 per account.
Not only does the Ink Preferred protect your purchase against theft or damage, but it also extends a U.S. Manufacturer’s warranty of 3 years or less for an additional year. Since we all know that products like to stop working just after their standard warranty has expired, this extra year can provide an extra bit of peace of mind for purchases.
Keep in mind that the Ink Preferred is a Chase card and thus falls under the Chase 5/24 rule. This means you won’t be able to open this card if you’ve opened 5 or more personal cards (plus business cards from Capital One And Discover).
If you’re wondering whether your business qualifies you for this card, check out our primer on business card eligibility for more info.
In the competitive landscape of business credit cards, the Chase Business Ink Preferred certainly stands out among its peers for a number of reasons. Each card has its own place, but the Chase Business Ink Preferred has certainly proven itself to be among the best out there.
Between the lucrative welcome bonus, the low annual fee, and the extensive list of benefits, it’s hard to see why a business owner wouldn’t consider this card.
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