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Once you’ve decided to get a new credit card, make sure you know about all of the benefits offered by the card and are prepared to use them.
This goes well beyond knowing what kind of points and cash back you can earn, but also ensuring that you’re taking advantage of the specific offers and benefits that come with each card. The Ink Business Preferred® Credit Card is designed for small-business owners and freelancers, and the benefits associated with this card can pay dividends almost immediately.
1. Transfer your bills to this card
One of the main reasons to choose the Ink Business Preferred® Credit Card is because of all the points you’ll earn for just conducting business as usual. Some of the key costs for most businesses earn bonus Ultimate Rewards® points with this card. The first $150,000 in combined purchases during the calendar year spent on travel, shipping purchases, internet, phone, and cable bills, plus money spent on search engine and social media advertising, all qualify for 3 points per $1. You may have automated any or all of your business bills in the past, so it's important to switch the payment method over to your new card so you can earn as many points as possible.
» Learn more: Chase 5/24 rule explained
2. Make an ad buy
Finding the right way to advertise your business can be a challenge. Digital advertising has come a long way, and promoting your business through social media sites or search engines can be a great way to engage customers who are already interested in your business. Advertising purchases made on either social media sites or search engines earn 3 points per $1 spent. Now could be the time to experiment with these types of advertising since you’ll be earning more points back.
3. Activate employee cards
One of the nice benefits of the Ink Business Preferred® Credit Card is the option to add free employee cards to your account. Do you have a trusted manager who needs to be able to make company purchases to keep the business operating smoothly? Sign them up.
You’ll also be able to adjust individual spending limits for each employee card. That means if someone at your business replenishes paper products and spends around $800 a month, you could get that person a company card with a spending limit to match. That way you won’t have to loan your card out every time someone needs to make a new purchase. But remember, each of these cards is connected to your account and you are responsible for paying the balance at the end of the month.
» Learn more: Should I give small-business cards to my employees?
4. Earn the sign-up bonus
Many credit cards come with a sign-up bonus for spending a certain amount in the first few months. With the Ink Business Preferred® Credit Card, you could earn the following sign-up bonus: New Offer! Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,250 toward travel when redeemed through Chase Ultimate Rewards®. This bonus is very large when compared to most other cards.
5. Familiarize yourself with Chase Ultimate Rewards®
One of the best parts of the Ink Business Preferred® Credit Card is how valuable Chase Ultimate Rewards® are. To redeem your points, you’ll want to familiarize yourself with the Chase Ultimate Rewards® program.
There are many options when it comes to redeeming your points, but they’re not all created equal. When you use your points for travel through the Chase Ultimate Rewards® travel portal, redemptions are worth 25% more than when they’re redeemed for cash back, so it’s a great way to defray costs for your next business trip. And points can also be transferred to Chase’s travel partners like Hyatt and United.
Or maybe you’d like to redeem points towards purchases at Amazon.com or get gift cards to reward your staff. In that case, each point is worth 1 cent each. Chase Ultimate Rewards® has many options available, so you can learn the system and set a goal for when and how you want to redeem your rewards.
» Learn more: How to redeem Chase Ultimate Rewards®
The Ink Business Preferred® Credit Card is a great way for small businesses and freelancers to earn more points on some of the standard costs of doing business. While you won’t be earning any bonus points for food purchases like some cards, the categories covered by the Ink Business Preferred® Credit Card will help you start racking up points quickly. The first $150,000 spent on things like travel, many internet bills and digital advertising purchases all earn 3 points per $1 spent.
How to Maximize Your Rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2020, including those best for:
Airline miles and a large bonus: Chase Sapphire Preferred® Card
No annual fee: Wells Fargo Propel American Express® card
Flat-rate rewards with no annual fee: Bank of America® Travel Rewards credit card
Premium travel rewards: Chase Sapphire Reserve®
Luxury perks: The Platinum Card® from American Express
Business travelers: Ink Business Preferred® Credit Card