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Chase Ink Preferred Review: High Rewards for Business Basics

Collect 3 points per dollar spent on travel and other common spending categories and 1 point per dollar everywhere else; the sign-up bonus is one of the biggest you'll find anywhere.
By Paul Soucy, Melissa Lambarena
Last updated on February 29, 2024
Edited byKenley Young
Fact checked and reviewed

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Our Take

The bottom line:

A big sign-up bonus, high ongoing rewards in common business spending categories and an array of perks make this card well worth the annual fee.
Full review

Ink Business Preferred® Credit Card

Annual fee
$95
Regular APR
21.24%-26.24% Variable APR
Intro APR
N/A
Apply now

on Chase's website

Pros & Cons

Pros

  • New cardholder bonus offer
  • Bonus categories
  • Transfer partners

Cons

  • Has annual fee
  • No intro APR offer

Compare to Other Cards

at Chase

at American Express

at American Express

Annual fee

$95

Annual fee

$375

Annual fee

$695

Regular APR

21.24%-26.24% Variable APR

Regular APR

19.49%-27.49% Variable APR

Rates & Fees

Regular APR

19.49%-27.49% Variable APR

Rates & Fees

Intro APR

N/A

Intro APR

N/A

Intro APR

N/A

Recommended credit score

690-850good - excellent

Recommended credit score

690-850good - excellent

Recommended credit score

690-850good - excellent

Full Review

The
Ink Business Preferred® Credit Card
from Chase is firmly entrenched in the ranks of the best credit cards for small businesses, thanks to a jumbo sign-up bonus, a high rewards rate in common business categories and a slew of valuable perks.
If you do a lot of traveling for business or your spending otherwise matches the bonus categories, the
Ink Business Preferred® Credit Card
may be well worth its
$95
annual fee.

Ink Business Preferred® Credit Card
: Basics

Card type: Small business.
Annual fee:
$95
.
Sign-up bonus:
Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Travel℠.
Rewards:
  • 3 Chase Ultimate Rewards® points per $1 spent on the first $150,000 spent on qualifying travel and business categories each account anniversary year.
  • 1 point per $1 spent on all other purchases.
You can redeem points for cash, gift cards, travel and eligible products or services. Points are generally worth about a penny each, with one notable exception: When you redeem your points for travel booked through Chase Ultimate Rewards®, they're worth 1.25 cents apiece.
APR:
The ongoing APR is 21.24%-26.24% Variable APR
.
Foreign transaction fee: None.
Other perks:
  • Free employee cards.
  • Personalized account alerts.
  • Purchase protection, extended warranty protection, cell phone protection, trip cancellation and interruption insurance, roadside dispatch and an auto rental collision damage waiver.

Why you might want the
Ink Business Preferred® Credit Card

A huge sign-up bonus

Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Travel℠.
This bonus is among the highest available on any card in any category, but it comes with a hefty minimum spending requirement. Still, if your typical spending can cover that, the bonus could be enough to pay for an entire business trip. Or think of it this way: The bonus can cover the cost of carrying the card for more than 10 years.

High rewards in common business spending categories

The
Ink Business Preferred® Credit Card
gives you 1 Chase Ultimate Rewards® point per dollar spent — but that jumps to 3 points per dollar on the first $150,000 in combined spending in these categories:
  • Travel.
  • Shipping.
  • Internet, cable and telephone services.
  • Advertising purchases with social media sites and search engines.
Some business credit cards cap your spending at a much lower threshold or limit the high rewards rate to only one category. This card lets you earn top rewards in a variety of popular categories that you’re likely to use.

25% boost in point value for travel redemptions

When you redeem your points for travel booked through Chase Ultimate Rewards®, they're worth 1.25 cents apiece. (That's the same high redemption value that helps make the
Chase Sapphire Preferred® Card
so popular with leisure travelers.) Business owners who frequently spend on travel will get more value when they redeem their points for airfare, accommodations and more through Chase's portal.

Transfers to airline and hotel programs

You have the flexibility of transferring points on a 1:1 basis to a dozen popular airline and hotel loyalty programs. Depending on which partner you choose and how you redeem those points, transferring may offer outsized value. Partners include:
  • Aer Lingus AerClub.
  • Air France/KLM Flying Blue.
  • British Airways Executive Club.
  • Emirates Skywards.
  • Iberia Plus.
  • JetBlue TrueBlue.
  • Singapore Airlines KrisFlyer.
  • Southwest Airlines Rapid Rewards.
  • United MileagePlus.
  • Virgin Atlantic Flying Club.
  • IHG Rewards Club.
  • Marriott Bonvoy.
  • World of Hyatt.

An international payment option

Some credit cards are packed with travel-friendly features, but they make poor companions abroad. That’s not the case with the
Ink Business Preferred® Credit Card
. As part of the Visa network, the card is broadly accepted by merchants worldwide. It also doesn’t charge foreign transaction fees, which will save you money on your overseas purchases.

Travel protections

The card’s travel protections can spare you some headaches and money when your travel plans derail. Trip cancellation and interruption insurance reimburses you up to $5,000 per trip (including passenger fares, tours and hotels) when your trip is canceled due to sickness, severe weather conditions and other qualifying scenarios.
The primary rental car coverage reimburses you when a car rented for business purposes is damaged or stolen. You’ll have to pay for your trip and car rental with the card to qualify for coverage. The car rental benefit also requires you to decline the car rental agency’s collision insurance. Other terms apply.

Purchase protections

Purchases are covered for up to 120 days against damage or theft, up to $10,000 per claim and $50,000 per account. The extended warranty protection also adds an extra year to eligible manufacturer warranties of three years or less.

Cell phone coverage

The Ink Business Preferred℠ Credit Card pays up to $600 per claim for damage or theft of cell phones for you and your employees when the bill is paid using your card. There’s a maximum of three claims in a 12-month period, and there is a $100 deductible for each claim.

Free employee cards

Employees whom you approve as authorized users on the account get free cards that help you earn rewards. You can control these accounts by setting spending limits for each employee.

Why you might want a different credit card

The
Ink Business Preferred® Credit Card
is an excellent card, but it's not perfect, or even appropriate, for every business. Here are some possible reasons why you may want a different business credit card.

There's an annual fee

The no-annual-fee
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
offers 1.5 points per $1 spent on all purchases. As a Mastercard without foreign transaction fees, this card is also an ideal payment method for purchases made abroad.

There's no introductory 0% APR period

The Blue Business® Plus Credit Card from American Express
offers a lengthy break from interest payments. You'll get an introductory
0% intro APR on Purchases for 12 months, and then the ongoing APR of 18.49%-26.49% Variable APR
. This card earns 2 points per $1 spent on the first $50,000 in purchases made per year, and then 1 point per $1 spent after that. It has a
$0
annual fee. Terms apply (see rates and fees).

Its Bonus categories might not match your spending

If you don't travel much or spend money in the other bonus categories, you'll miss out on most of the ongoing value of the
Ink Business Preferred® Credit Card
. The
Ink Business Cash® Credit Card
earns 5% cash back on up to $25,000 a year in combined spending at office supply stores and on internet, cable and phone services; 2% back on up to $25,000 a year in combined spending at gas stations and restaurants; and 1% back on everything else. You also can earn one of the biggest sign-up bonuses on any card with a
$0
annual fee:
Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
Or if you don't want to keep track of categories at all, consider a flat-rate card — one that pays the same rate on all purchases. For example, the
Capital One Spark Miles for Business
card gives you an unlimited 2 miles per dollar on every purchase.

Your business spends HEAVILY on travel

The Business Platinum Card® from American Express
may merit a closer look if your business spends a lot of money on travel annually. It has a
$695
annual fee, but the long list of perks and benefits can offset the cost as long as you use them. It earns 5 Membership Rewards points per $1 spent on flights and prepaid hotels booked through amextravel.com; 1.5 points on eligible purchases at U.S. construction material and hardware suppliers, electronic goods retailers and software and cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year; and 1 point for each dollar you spend on eligible purchases. Terms apply (see rates and fees). (Learn more about the difference between
The Business Platinum Card® from American Express
and
Ink Business Preferred® Credit Card
.)

Is the
Ink Business Preferred® Credit Card
right for you?

The
Ink Business Preferred® Credit Card
checks about as many boxes as a card can for business travelers without charging an annual fee in the hundreds of dollars. Check your books to see how well your expenses jibe with the bonus categories. If there's a lot of overlap, don't be afraid to pull the trigger.
To view rates and fees of
The Business Platinum Card® from American Express
, see this page.
To view rates and fees of
The Blue Business® Plus Credit Card from American Express
, see this page.

Apply now

on Chase's website

Frequently Asked Questions

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