Ink Business Preferred® Credit Card: 5 Key Benefits Explained

Ink Business Preferred® Credit Card: Earn 90,000 Bonus Points

The Ink Business Preferred® Credit Card by Chase is one of the most attractive options for business owners who want to maximize rewards for their spending while enjoying a host of flexible benefits. Whether you are a small business owner or managing a large company, this card offers opportunities to earn valuable rewards on everyday business expenses, access premium travel benefits, and even earn bonus points to make the most out of your purchases.

In this guide, we’ll cover everything you need to know about the Ink Business Preferred® Credit Card, from its features and rewards to how it compares to other cards. By the end, you’ll know whether this card is the best option for your enterprise needs.

What is the Ink Business Preferred® Credit Card?

The Ink Business Preferred® Credit Card is designed to help business owners maximize their purchases with Chase Ultimate Rewards points. Offering lucrative rewards, flexibility, and low-cost travel benefits, the card helps business owners maximize the value of everyday expenses.

Card Highlights of Ink Business Preferred® Credit Card

• 90,000 Bonus Points after spending $8,000 in the first 3 months.
• Earn 3X points on the first $150,000 spent annually in select categories.
• Categories include shipping purchases, advertising, internet services, cable/phone services, and travel.
• Earn 1X points on all other purchases.
• No foreign transaction fees on purchases outside the U.S.
• Add employee cards at no additional cost to earn points on employee purchases.
• Points are redeemable for cash back, gift cards, or travel rewards.
• Points transfer to Chase Ultimate Rewards partners at a 1:1 ratio.
• Trip cancellation insurance, auto rental coverage, and purchase protection are included.
• Travel insurance covers trip delays, interruptions, and baggage loss.
• Cell phone protection is available when the monthly bill is paid with the card.
• Roadside assistance for emergencies while travelling.
• Extended warranty protection on eligible purchases.
• Annual Fee of $95, a low cost for premium rewards.
• Points are worth 25% more when redeemed for travel through Chase.
• Flexible payment options with Chase Pay Over Time.
• Business expense tracking tools integrate with bookkeeping software.
• Earn 5X points on Lyft rides (through March 2025).

Rates and Fees of Ink Business Preferred® Credit Card

• Annual Fee: $95.
• APR for Purchases: 20.24%–26.24% variable APR, depending on creditworthiness.
• APR for Cash Advances: 29.99% variable APR.
• Cash Advance Fee: Either $10 or 5% of the amount, whichever is greater.
• Foreign Transaction Fees: None, making it ideal for international business expenses.
• Late Payment Fee: Up to $39 if payment is late.
• Returned Payment Fee: Up to $39 for each returned payment.
• Minimum Interest Charge: $1.50.
• Balance Transfer Fee: $5 or 5% of the amount transferred, whichever is greater.
• Credit Card Cash Advance: The Fee for a cash advance is either $10 or 5% of the total, whichever is higher.

See Full Rates and Fee

Key Features and Benefits of the Ink Business Preferred® Credit Card

• 90,000 Bonus Points after spending $8,000 in the first 3 months.
• Earn 3X points on select business categories.
• There are no foreign transaction fees when you travel or make purchases abroad.
• Employee cards at no additional cost, helping to manage and track expenses efficiently.
• Flexible features that allow for easy management of your business cash flow.

The Ink Business Preferred® Credit Card can help you earn rewards quickly. With its varied earning opportunities, it can easily complement your firm strategy for growth and expense management.

Related: Can I Use My Business Credit Card for Personal Use? Is it Legal/Illegal

How Does the Ink Business Preferred® Credit Card Work?

This card works by offering a points system that rewards you for business-related purchases. Here’s a closer look at how it works:

1. Earning Rewards: The most appealing aspect of the Ink Business Preferred® Credit Card is how quickly you can earn rewards. The card allows you to earn 3X points on select business categories, such as shipping purchases, advertising purchases, internet services, cable and phone services, and travel-related expenses. The 3X Points on these specific categories are capped at $150,000 in combined purchases per account anniversary year. This means that if your organization spends significantly in these categories, you can earn a high number of rewards without hitting a cap.

Additionally, you earn 1X points for every other purchase made, allowing you to accumulate rewards on nearly every dollar spent. There’s no limit to how much you can earn with these unlimited points. This makes the Ink Business Preferred® Credit Card a great option for companies with diverse spending patterns.

2. 90,000 Bonus Points Offer: Upon approval, you can earn 90,000 bonus points after spending $8,000 within the first 3 months of card membership. This bonus offer is one of the most lucrative in the card world and can be worth up to $1,125 when redeemed for travel through Chase Ultimate Rewards.

For a small business that is planning big investments, such as marketing or expansion, this could be the perfect way to rack up points quickly. You could use these points to track business expenses and choose whether to redeem them for cash back, gift cards, or travel purchases.

3. Redemption Options: Once you’ve accumulated points, you can redeem them through the Chase Ultimate Rewards platform, which offers a variety of reward redemption options. One of the most valuable features of the Ink Business Preferred® Card is its ability to transfer your points to Chase travel partners at a 1:1 ratio. These partners include major airlines such as British Airways, JetBlue, and United MileagePlus®, and hotel programs like Marriott Bonvoy® and World of Hyatt. This allows your points to go further, especially for travel.

• Travel Points Redemption: Points are worth 25% more when redeemed through Chase Travel, making it a great choice for enterprise owners who frequently travel.
• Gift Cards: Points can also be redeemed for a variety of gift cards, perfect for rewarding employees or clients.
• Cash Back: Convert your points to cashback, which you can use to offset business expenses or to reinvest in your company.

Ink Business Preferred® Card Benefits

The Ink Business Preferred® Credit Card offers a host of benefits designed to make your life as a business owner easier. Let’s explore these in more detail.

1. Employee Cards: One of the standout features of the Ink Business Preferred® Credit Card is the ability to add employee cards at no additional cost. Each employee card comes with its own spending limits, allowing you to set boundaries and track your team’s spending. This feature is incredibly useful for maintaining control over company expenses while still allowing your employees the flexibility they need to make purchases.

With employee cards, you earn rewards on purchases made by your team, so your points accumulation doesn’t just rely on your spending. Owners can track their expenses more efficiently, ensuring everything stays organized for tax reporting or budgeting purposes.

2. Travel Benefits: If your enterprise requires frequent travel, the Ink Business Preferred® Credit Card offers several premium travel rewards and protections. Here are some key travel-related benefits:

• Trip Cancellation and Interruption Insurance: If you need to cancel or cut short a trip due to unforeseen circumstances, such as illness or severe weather, you can be reimbursed for your pre-paid, non-refundable travel expenses.
• Auto Rental Coverage: If you rent a car for business purposes, the card covers collision damage and theft up to $60,000 on most rental vehicles.
• Roadside Assistance: Whether your organization involves travelling long distances or using company vehicles, the Ink Business Preferred® Credit Card provides roadside assistance services in case of emergencies.
• Travel and Purchase Protection: Additional coverage for purchases, including extended warranty and purchase protection, adds further peace of mind while spending on business items.

3. Travel Insurance with a Credit Card:The Ink Business Preferred® Credit Card also includes cell phone protection when you pay your monthly bill using the card. This feature covers up to $1,000 per claim for theft or damage to your cell phone. With this benefit, your business’s communications are safeguarded without having to worry about unexpected repair or replacement costs.

How Does Ink Business Preferred® Compare to Other Business Cards?

The Ink Business Preferred® Credit Card stands out for its generous rewards and travel perks when compared to other cards. For example, the 90,000 bonus points from the Ink Business Preferred® Offer can often provide more value than competitors’ sign-up bonuses, particularly when redeemed for travel.

Additionally, the 3X points on categories like advertising and shipping surpass many other credit cards in these areas. However, those who don’t travel frequently might prefer other cards with no annual fee or higher cashback on everyday purchases.

Ink Business Preferred vs. Other Business Credit Cards:

1. Cash Back: While other cards focus on cash back, Ink Business Preferred® Credit Card concentrates heavily on travel rewards with its Chase Ultimate Rewards program.
2. Point Redemption: Many other cards don’t offer the same value when transferring points to airline travel partners or Chase travel partners.

Comparison of Ink Business Preferred® Credit Card With Other Similar Cards

Here is a detailed comparison to help you determine which card suits your business.

Comparison of Ink Business Preferred® Credit Card vs. Ink Business Unlimited® Card vs. Ink Business Cash® Card vs. UnitedSM Business Card

Comparison Analysis

1. The Ink Business Preferred® Credit Card stands out for its 90,000 bonus points and 3X points on select business categories, making it great for businesses that spend heavily in those areas.
2. The Ink Business Unlimited® Credit Card is a good choice for businesses seeking simple, unlimited 1.5% cash back on all purchases, with no annual fee.
3. The Ink Business Cash® Credit Card offers 5% cash back in select categories and comes with an introductory 0% APR for 12 months, making it perfect for businesses with higher spending in those areas.
4. The UnitedSM Business Card is ideal for frequent United Airlines travelers. It offers 2X miles and additional travel perks like priority boarding and free checked bags.

Which Card is Worth Buying?

1. For Companies looking to maximize travel rewards, the Ink Business Preferred® Credit Card is a strong contender.
2. If you prefer straightforward cash back with no annual fee, the Ink Business Unlimited® or Ink Business Cash® Credit Cards are better choices. The latter provides high returns in select business categories.
3. For United Airlines’ frequent flyers, the UnitedSM Business Card offers valuable travel benefits.

Ultimately, it depends on your organization’s spending patterns and travel habits.

The Ink Business Preferred® Credit Card offers excellent travel rewards and valuable benefits, but it may not suit every business. Consider other credit card options that better align with your needs and preferences.

Why You Might Think About a Different Credit Card Than Ink Business Preferred® Credit Card?

1. High Annual Fee: The Ink Business Preferred® Credit Card has an annual fee of $95. If you’re looking for a business credit card with no annual fee, this might not be the best choice. Other cards, such as the Ink Business Unlimited® Credit Card and Business Cash® Credit Card, come with $0 annual fees, making them more budget-friendly.

2. Limited Categories for Earning Bonus Points: While the Ink Business Preferred® card offers 3X points on specific categories, it only applies to the first $150,000 spent in select categories annually. If your organization doesn’t spend a lot in these categories, you might not fully benefit from the rewards program. Cards like the Ink Business Unlimited® Credit Card offer 1.5% cash back on every purchase, regardless of category, making it more versatile for the firms with diverse spending.

3. Not Ideal for Businesses without Travel Expenses: The Ink Business Preferred® Credit Card shines when it comes to travel rewards, especially through Chase Ultimate Rewards. However, if your company doesn’t focus on travel, a cashback card like the Ink Business Cash® Credit Card might be a better fit. You’ll earn 5% cash back on select business categories and 1% on all other purchases, with no annual fee.

Best Alternatives to the Ink Business Preferred® Credit Card

1. Ink Business Unlimited® Credit Card: This card is ideal for businesses that prefer simple cash back with no annual fee. It offers 1.5% cash back on all purchases, which works well if you’re spending is spread across various categories.

2. Ink Business Cash® Credit Card: Great for organizations that spend a lot in office supply stores or telecommunications. With 5% cash back on the first $25,000 spent in combined purchases in select categories each account anniversary year, plus 1% on other purchases, this card can help firms rack up rewards fast.

3. UnitedSM Business Card: Perfect for frequent United Airlines travelers. This card offers 2X miles on united purchases, gas stations, office supply stores, and more. Plus, it includes travel benefits like priority boarding and free checked bags.

Frequently Asked Questions (FAQs)

Conclusion: Is the Ink Business Preferred® Credit Card Right for You?

The Ink Business Preferred® Credit Card is ideal for business owners who spend heavily in key categories like shipping, advertising, internet services, and travel. If your business aligns with these categories, you could significantly benefit from the 3X points and 90,000 bonus points available through the card.

This card is an excellent choice for business owners looking to build credit, track expenses, and take advantage of Chase Ultimate Rewards for travel rewards. The ability to add employee cards at no extra cost further enhances its value for organizations with multiple team members.