Chase Reveals More About the New Chase Ink Business Preferred Card!

Chase Reveals More About the New Chase Ink Business Preferred Card!

Million Mile SecretsChase Reveals More About the New Chase Ink Business Preferred Card!Million Mile Secrets Team

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Update:   One or more card offers in this post are no longer available.  Check our Hot Deals for the latest offers. 

Lots of folks have been asking questions about the new Chase Ink Business Preferred card, which comes with an 80,000 Chase Ultimate Rewards point sign-up bonus after meeting minimum spending requirements.

For example, can you get multiple Ink Business Preferred cards if you have more than one business?  And does this card fall under Chase’s 5/24 rule?

Chase shared the answers to these questions (and more!) on a conference call with us today.

Chase Ink Business Preferred
Questions About the New Chase Ink Business Preferred Card? We’ve Got Answers!

Here’s what we learned!

Ink Business Preferred – Your Questions Answered

Link:   Chase Ink Business Preferred Card

Link:   My Review of the Chase Ink Business Preferred Card

With the Chase Ink Business Preferred 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.

This is a great option if you’re looking for a small business card, because the sign-up bonus is worth at least $1,000 when you redeem points through the Chase Travel Portal.  Or even more when you transfer to Chase airline and hotel transfer partners.

Here are answers to some common questions!

1.   Does the Ink Business Preferred Card Fall Under Chase’s 5/24 Rule?

I suspected the new Ink Business Preferred card would be subject to Chase’s stricter approval rules.  And the folks at Chase confirmed it.

So, if you’ve opened ~5+ cards from any bank (except these business cards) in the past 24 months, it’s unlikely you’ll be approved for the Chase Ink Business Preferred.

2.   Can You Get More Than One Ink Business Preferred Card If You Have Multiple Businesses?

Yes!  If you have multiple businesses, you may be able to get more than one Chase Ink Business Preferred card.

But ultimately, it’s up to Chase to decide whether they’ll approve you for a card and how much credit they’re willing to extend to you.

3.   Can You Upgrade Another Chase Ink Card to Ink Business Preferred?

Chase let us know that currently, you can NOT upgrade an existing Chase Ink card (like the Ink Cash or Ink Plus) to the Ink Business Preferred card.  But they may make it an option in the future.

So for now, the only way to get an Ink Business Preferred card is to submit an application in-branch or online.

Chase Ink Business Preferred
Applying for the Chase Ink Business Preferred Card Could Be Worth It for Lots of Folks. Because the Sign-Up Bonus Alone Is Worth (at Least!) $1,000 for Travel Through Chase’s Travel Portal!

4.   Is Anything Happening to My Other Ink Cards?

Chase confirmed that the Ink Cash card is here to stay.

Folks who already have an Ink Plus card, which is no longer available to new applicants, can keep that card as well.  And you’ll continue to get great perks like 5X bonus Chase Ultimate Rewards points at on cable, cell phone bills, and at office supply stores! 😉

5.   What If You’re Over 5/24?

If it’s hard for you to get approved for most Chase cards because of their stricter approval rules, check out this post about 6 Chase travel cards NOT restricted by the 5/24 rule.

Or, keep an eye out for targeted offers.  Like the 30,000 Chase Ultimate Rewards point sign-up bonus from the Chase Freedom Unlimited card.

Because if you’re pre-approved for offers from Chase, you may still be eligible even if you’ve opened lots of cards in the past 2 years.

Or skip Chase and choose AMEX’s rival small business card because its current sign-up bonus is worth $2,000 for flights with no blackout dates.

The Business Platinum® Card from American Express OPEN has a limited-time offer of 100,000 American Express Membership Rewards points.

Bottom Line

You can earn 80,000 Chase Ultimate Rewards points after meeting minimum spending requirements with the new Chase Ink Business Preferred card.

This card DOES fall under Chase’s 5/24 rule.  And you can NOT upgrade from another Ink card (like the Ink Cash) to the Ink Business Preferred.  But it may be possible in the future.

But the good news is, it’s possible to get more than one Ink Business Preferred card if you have multiple businesses.

If you liked this post, why don’t you join the 25,000+ readers who have signed-up to receive free blog posts via email (only 1 email per day!) or in an RSS reader …because then you’ll never miss another update!

Ink Business Preferred℠ Credit Card

Ink Business Preferred℠ Credit Card

  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent in select categories each account anniversary year
  • Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee

More Info

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You should probably include the fact that instead of applying online, one should apply at a Chase bank as the first year annual fee is waived. Per Chase last night in conversation as we looked to waive existing Ink annual fee, we could have upgraded to the Ink Preferred but we would not receive the 80,000 UR signup bonus.

Million Mile Secrets

Thanks for the reminder. We've written about it before, and we love writing about cards with better bonuses (even if they don't pay us a commission).

Just imagine if Target told you that you could buy a television cheaper at a store down the street. These guys run a business and they certainly want you to "buy from them" (clic oin their link!)

Thank you for pointing it out. Hope you are able to help with your info.