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If you’re a business owner who regularly travels, you’ll want a credit card that can help make those travels more convenient — like the Ink Business Preferred® Credit Card.
It offers a stellar rewards program, bonus spending categories, and the ability to transfer points to travel partners for free flights and hotel stays.
It also comes with several insurance and travel perks and a low annual fee — it’s no wonder we rank this as one of the best business rewards cards available!
Quick Facts: Chase Ink Business Preferred® Credit Card
- Rewards rate: 3x points on every dollar spent on shipping, advertising with social media and search engines, internet, cable, phone, and travel — up to the first $150,000 spent in combined purchases in these categories; 1x per dollar spent everywhere else
- Welcome offer: Earn 90,000 bonus points after you spend $8,000 on purchases in the first 3 months
- Annual fee: $95
. . .
Overview of the Chase Ink Business Preferred® Credit Card
The Ink Business Preferred® Credit Card is Chase’s premier business travel rewards card, with a generous welcome bonus, points on business and travel categories, and one of the most flexible rewards programs available.
The annual fee is lower than some competitors' cards, and the perks are more than worth the annual cost.
Chase also has one of the best rewards programs out there, allowing you to use your points for cashback, gift cards, and travel purchases.
You can also transfer points to partner hotels and airlines, such as Hyatt, Marriott, and Southwest Airlines, for even more value.
Pros
- Strong earning rate on typical business spending
- Flexible rewards
- Transfer partners to maximize redemptions
- Multiple insurance benefits
Cons
- Annual fee
- No lounge access
LEARN MORE: Ink Business Preferred® Credit Card
Redeeming Rewards
Chase Ultimate Rewards are flexible points that can be used in a variety of ways.
Chase Travel℠
Through Chase Travel℠, you can book flights, rental cars, hotels, and even a cruise with your points.
Plus, you get a 25% value bonus when using points through Chase Travel℠, extending the value of your points to 1.25 cents per point.
Cashback
Chase Ultimate Rewards can be used for statement credits, essentially paying off a portion of your credit card balance.
Cashback options are redeemed at a rate of $0.01 per point, which is a decent redemption — but there are much better options if you use your rewards for travel.
Transfer partners
Chase partners with 14 hotel and airline loyalty programs and allows you to transfer your rewards directly to them. This can be one of the best values for your points if done correctly.
Here are the partners currently available:
- Aer Lingus
- Air Canada
- Air France KLM
- British Airways
- Emirates
- Hyatt
- Iberia
- IHG Hotels & Resorts
- JetBlue
- Marriott Bonvoy
- Singapore Airlines
- Southwest
- United Airlines
- Virgin Atlantic
Many partners have valuable loyalty programs that can save you hundreds (or even thousands) of dollars on flights and hotel stays. This can boost your redemption rate to $0.03 to $0.04 per point (or more).
Note that transferring points is only one way, meaning you can’t transfer back into Chase Ultimate Rewards once the transfer is initiated.
Make sure you plan your trip and the points needed before making a transfer.
Gift cards
The Ultimate Rewards portal allows you to use your points to purchase a wide selection of gift cards.
The redemption rate is a reasonable $0.01 per point, but you can often find specials on certain cards that give you an even better redemption rate.
Additional Benefits
In addition to bonus points and rewards, the Ink Business Preferred offers the following:
- Cellphone protection: Get reimbursed for cellphone repair or replacement up to $1,000 per claim (up to three claims per 12-month period, $100 deductible per claim).
- Purchase protection: Chase’s purchase protection covers theft, damage, or involuntary and accidental loss within 120 days from the date of purchase (up to $500 per claim and $50,000 per account).
- Extended warranty: Get extended warranty coverage on purchases, extending manufacturer warranties an additional year.
- Travel protection: This card offers trip delay, trip cancellation, baggage delay, lost baggage, and primary auto coverage insurance (when renting for business purposes).
- Roadside assistance: Roadside assistance is included, covering up to five miles of towing, tire changes, fuel delivery, and more.
Who Should Get the Chase Ink Business Preferred® Credit Card?
The Ink Business Preferred® Credit Card is a great option for small business owners who want travel rewards for a low annual fee.
Business owners who spend heavily on the bonus categories, such as travel, internet, cable, phone, shipping, or online advertising, can get immense value.
Note that there are some criteria to be eligible for the welcome bonus, including:
- You need to have a business (but selling on Amazon or eBay still qualifies).
- You can’t have received a Chase Sapphire Preferred® or Reserve® welcome bonus within the past 48 months.
- You can’t have signed up for five or more personal credit cards (from any card issuer) in the previous 24 months.
Who Shouldn’t Get the Chase Ink Business Preferred® Credit Card?
Frequent travelers who want lounge access and other perks won’t like this card, since the Ink Business Preferred does not offer premium travel benefits, such as lounge access, credits for TSA PreCheck or Global Entry, or instant status upgrades.
While casual travelers will like the card for its basic travel benefits and protections, it can’t compete with cards like The Business Platinum Card® from American Express, which offers status at hotels and car rental services, lounge access across the world, and hundreds in travel credits per year.
Alternatives to the Chase Ink Business Preferred® Credit Card
Ink Business Cash® Credit Card
- Rewards rate: 5% cashback on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year; 2% on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year; 1% on everything else
- Welcome offer: Earn up to $750 bonus cashback: $350 when you spend $3,000 in the first 3 months and an additional $400 when you spend $6,000 in the first 6 months after account opening
- Annual fee: $0
. . .
The Ink Business Preferred is a solid option, but it’s actually only one of four business rewards cards that Chase offers. One of the most popular is the Ink Business Cash® Credit Card.
As a cashback credit card, you can earn rewards at office supply stores and other business categories. Oh, and there’s no annual fee!
Hint: If you get both the Ink Preferred and Ink Cash, you can transfer Ink Cash cashback rewards to your Ink Preferred card and they are automatically converted to Ultimate Rewards. This makes your cashback from the Ink Cash much more powerful.
LEARN MORE: Ink Business Cash® Credit Card
The Business Platinum Card® from American Express
- Rewards rate: 5x points on prepaid flights and hotels with amextravel.com; 1.5x points on eligible purchases of over $5,000; 1.5x points on certain business expenses including electronic goods retailers; 1x points on all other purchases
- Welcome offer: 150,000 Membership Rewards® points after spending $20,000 in the first 3 months
- Annual fee: $695 (rates and fees)
. . .
Both Chase and American Express offer flexible rewards points that can be used for cashback, travel rewards, gift cards, or transferred to travel partners. But The Business Platinum Card® from American Express is a much more premium card.
It offers hundreds of dollars in business and travel credits each year, and far more travel perks (lounge access, Global Entry and CLEAR credits,* status, and more). However, it also has a much higher annual fee.
LEARN MORE: The Business Platinum Card® from American Express
Capital One Spark Cash Plus
- Rewards rate: 5% cashback on hotels and rental cars booked through Capital One Travel; 2% on all other purchases
- Welcome offer: Earn a $2,000 cash bonus when you spend $30,000 in the first 3 months
- Annual fee: $150 (waived if you spend $150,000 that year)
. . .
The Capital One Spark Cash Plus has a higher cashback rate on business expenses, plus a much higher rate on travel. However, it also comes with a slightly higher fee than the Ink Business Preferred.
It’s a charge card rather than a traditional credit card, which means there’s no preset spending limit — but you’re charged a fee if you don’t pay it off in full each month. While this could be good if you frequently have high-cost expenses, it could also be dangerous if you regularly carry a balance.
LEARN MORE: Capital One Spark Cash Plus
FAQs
What are Chase points worth?
Chase points can be worth up to 2 cents per point (or more) depending on how you redeem them.
When redeeming for cashback or gift cards, Chase points are worth 1 cent per point. When redeeming through Chase Travel℠, points are worth 1.25 cents per point.
Transferring Chase points to travel partners can lead to redemptions that are for 2 to 3 cents per point, or even higher.
What is the credit limit for the Ink Business Preferred Credit Card?
Your approved credit limit will depend on your credit score, income, and history with Chase.
Many users report a low credit limit to start if it’s their first Chase business card but get higher credit limits after establishing a business relationship with the bank.
The Bottom Line
The Ink Business Preferred® Credit Card is a solid credit card for small business owners. It has a low annual fee but still comes with a strong rewards rate and extra benefits like travel insurance and purchase protection.
If you’re curious about how other cards compare, check out our full list of the Best Business Credit Cards to Support Your Business.
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* Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your American Express Card. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
Disclosure: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
