The new Chase Ink Business Preferred card is now available!
I’ll tell you about the perks of the new card. And explain if you should submit an Ink Business Preferred application.
Chase Ink Business Preferred Offer
- 3X Chase Ultimate Rewards points for every $1 you spend on travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites, and search engines (up to a maximum of $150,000 in combined purchases per account anniversary year)
- 1X Chase Ultimate Rewards points on all other purchases
- Up to $600 in cell phone insurance when you pay your cell phone bill with the card
- 25% bonus when you redeem points through the Chase Ultimate Rewards travel portal
- Primary auto rental insurance (CDW) when renting for business purposes, plus purchase and extended warranty protection
The card has a $95 annual fee, which is NOT waived the first year.
What Can You Do With 80,000 Chase Ultimate Rewards Points?
For example, you can redeem 80,000 Chase Ultimate Rewards points from the Ink Business Preferred for $1,000 on travel booked through the Chase Travel Portal. This is a great way to plan a trip without thinking about blackout dates!
But you can get even more for your points by transferring to Chase’s terrific airline and hotel transfer partners.
And if you already have other Chase Ultimate Rewards cards, you can combine your points to get even more value from your points!
For example you can get:
- $1,000+ worth of Southwest flights (or nearly double if you have the Southwest Companion Pass)
- 4 free nights at a Category 5 Hyatt hotel like the Andaz Napa
- 3 one-way United Airlines Business Class flights from New York to Los Angeles
- 1 free night at a Tier 5 Ritz-Carlton hotel like The Ritz-Carlton, New York Central Park
- Round-trip coach award flight to Europe with Flying Blue Promo Awards
Should You Complete the Ink Business Preferred Application?
Before you apply for the Ink Business Preferred card, you’ll want to consider these 4 points.
1. Small Business Requirement
You’ll need to have a small business to get the Ink Business Preferred card.
But you might qualify for a small business card without realizing it!
If you earn income for performing a service, or selling goods, you could have a small business. This can include side jobs like driving for Uber or selling real estate.
You do NOT need an EIN (Employer Identification Number) to apply for a small business credit card. You can apply with just your Social Security Number.
Just be sure to tell the truth about your income and business when you fill-out the application!
2. Valuable Sign-Up Bonus
And the sign-up bonus can be worth even more with airline and hotel transfer partners.
Even with the $95 annual fee, the card can still be a good choice. Because the rewards you’ll earn with the sign-up bonus and broad 3X spending bonus category can more than offset the annual fee!
3. No 5X Bonus Spending Category
Other cards in the Chase Ink lineup like the Ink Plus (no longer available) and Ink Business Cash Credit Card offer a 5% cash back (5X points) bonus category, which includes purchases at office supply stores and on cellular phone, landline, internet and cable TV service.
The Ink Business Preferred replaced the Ink Plus and no longer offers a 5X bonus category.
If you think you’ll spend more in the 5X bonus category, you might earn more rewards with the Ink Cash card.
4. Tougher Chase Application Rules
If you’re not sure how long you’ve had certain cards, here’s an easy way to check your Chase 5/24 status.
And even if you have other Chase Ink cards, you can still apply for this new card because it’s considered a different card product!
If you can’t get approved for this new card because of the tougher rules, you can still consider other Chase travel cards, which are not impacted.
Or consider small business cards from other banks, like The Business Platinum® Card from American Express OPEN, which currently offers 75,000 AMEX Membership Rewards points after meeting tiered minimum spending requirements.
The new Chase Ink Business Preferred card has the highest sign-up bonus I’ve seen on a Chase small business credit card.
You can earn 80,000 Chase Ultimate Rewards points after you spend $5,000 on purchases in the first 3 months after opening your account.
If you qualify as a small business, this can be a great card. Because the sign-up bonus is worth at least $1,000 when you redeem points through the Chase Travel Portal. And it can be worth even more when you transfer to Chase airline and hotel transfer partners.
But before you apply for the card, consider Chase’s stricter application rules.
Will you apply for the new Ink Business Preferred card?