264 Reasons Why I’ll NEVER Get Rid of the Ink Business Preferred (Hint: It Saves Me Money!)

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264 Reasons Why I’ll NEVER Get Rid of the Ink Business Preferred (Hint: It Saves Me Money!)

Keith264 Reasons Why I’ll NEVER Get Rid of the Ink Business Preferred (Hint: It Saves Me Money!)Million Mile Secrets Team

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When you pay your monthly cell phone bill with the Ink Business Preferred, you get automatic cell phone insurance.  The coverage includes up to $600 of protection against damage or theft, 3 times per 12-month period, after you pay a $100 deductible.  That’s up to $500 back toward repairs or a replacement!

Due to some clumsiness, I’ve had to use this benefit 2 times over the past year.  Last year, I successfully got $85 back toward a repair of my Apple iPhone 7 Plus screen replacement.  And more recently, I received a check for $179, which covered a large part of my Apple iPhone X screen replacement.  Between the 2 claims, I got $264 back from Chase card benefit services.  That’s 264 reasons why I’ll keep the Ink Business Preferred forever!

Thanks to the Ink Business Preferred, I Recently Got a Check From Chase Card Benefit Services for $179 to Cover a Large Portion of the Cost to Repair My iPhone X!

Having a credit card that provides this type of protection can be a HUGE money saver.  Plus, I find the Ink Business Preferred cell phone coverage to be better than other insurance programs like AppleCare.

How Chase Ink Business Preferred Cell Phone Protection Works

Apply Here:   Chase Ink Business Preferred

Our Review:   Apply Now for 80,000 Points With the Chase Ink Business Preferred!

Link:   Step-by-Step Guide to Filing an Ink Business Preferred Cell Phone Damage Claim

To be eligible for the $600 cell phone protection, you do NOT have to purchase your cell phone with the Ink Business Preferred card.  But you DO have to pay your monthly phone bill with the card.

Coverage begins the day following your cell phone bill payment.  And remains in effect until the last day of the calendar month following a payment.  After that, you can make 3 claims in a 12-month period, as long as you keep paying your bill with the card.

Here are a few rules and exclusions:

  • Lost phones are NOT covered
  • Coverage only applies to you and your employees listed on your monthly cell phone bill
  • Covered phones must be purchased new.  Refurbished or resold phones are NOT included
Cracking the Screen on a $1,000 Smartphone Can Be Sickening. That’s Why I Recommend the Ink Business Preferred Card! Because You Get Automatic Cell Phone Insurance

If your phone was stolen, you must file a police report within 48 hours of the occurrence.  And if your phone was damaged, they might require an assessment from a qualified phone repair service.  Or that you send in your phone to be inspected.  In my experience, I’ve just sent in pictures of the damaged phone along with a receipt from the repair shop.

An important aspect of the coverage is that it’s supplemental.  So it only covers you after your other insurance plans (like 3rd-party insurance, renter’s, or homeowner’s plans).  But if damage occurs outside of your apartment or home, it’s unlikely other insurance policies would cover you, which is why this credit card benefit is useful.

If your claim is approved, you pay Chase a $100 deductible.  And they will reimburse you up to $600, or the price you paid for your phone, whichever is less.

To file a claim for cell phone damage or theft, call the Chase Benefits Administrator at 888-320-9956.  Or you can file a claim online like I did, which is really easy to do!  Here’s a link to our step-by-step guide to filing a claim.

$264 in Reimbursements Is Nearly 3X the Card’s Annual Fee!

The Ink Business Preferred has a $95 annual fee.  But from the cell phone insurance perk alone, I’ve received $264 worth of benefits.  That’s nearly 3X the annual fee expense.  This is why having an annual fee card in your wallet can make a lot of sense.

Plus, this doesn’t take into account the card’s other amazing perks like:

  • Earning 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)
  • 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

Plus, when you sign-up for the Chase Ink Business Preferred card, you’ll earn 80,000 Chase Ultimate Rewards points after you spend $5,000 on purchases in the first 3 months from account opening.  That’s worth $800 in cash back or $1,000 in travel if you book through the Chase travel portal!

Best Business Credit Card
I Used the Ink Business Preferred Sign-Up Bonus to Book a Comfortable Business Class Award Seat for a Long Flight to New Zealand!

Check out our full Ink Business Preferred review to read about all of the benefits!

Bottom Line

I’m a loyal Chase Ink Business Preferred cardholder because it’s really come in handy for me over the past year when I’ve damaged my cell phones.  I’ve filed 2 claims and received $264 back because the card offers automatic cell phone insurance.  

When you pay your cell phone bill with the Ink Business Preferred, you get up to $600 of protection against damage or theft, 3 times per 12-month period, after you pay a $100 deductible.  You can check out our step-by-step guide to filing a claim.

The cell phone insurance is just one of the many amazing perks for Ink Business Preferred cardholders.  You can also earn 3X points on select purchases.  And you get a 25% bonus when you redeem points through the Chase Ultimate Rewards travel portal.

Have you ever used the cell phone insurance coverage with this card?  Let me know in the comments below!

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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 on travel and select business 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

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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Why don’t you send this article to cnet, aol, huffpo, and every other joke outlet for exposure, you hack?


Hi George – if you know anyone at those sites, we’d love if they could share the post. Thanks for the idea!

Does the carrier bill have to be in my name for this benefit to apply? The carrier account is under my wife’s name, but I’m the only one that currently has the Ink Business Preferred card and plan to pay the bill.

Would I have to add her as an employee or authorized user?


Hi Peter, yes the name on the bill must match the name on the card. I’m not certain if authorized users/employees will get the coverage or if it’s only the primary cardholder. I’d suggest giving card benefit services a call to double check before adding your wife.

Was the $264 saved after the $200 in deductibles? Or did you really save $64?


Hi Ryan – the $264 was after the deductibles. In total, the iPhone repairs cost $464. At the end of the day, my out-of-pocket was $200 and I received checks totaling $264.

Awesome! I cracked my iPhone screen and have been putting off using my insurance. I think I’ll go for it.


Awesome! Let me know how it goes or if you have any questions.

More inconvenient news, you can get similar cell phone insurance coverage (up to $600) with a much smaller deductible ($25) via the no-annual fee Uber Visa card from Barclay’s.

So that savings of $256 (actually much more given smaller deductible) will be literally infinitely more than the annual fee on the Uber Visa card…. By the logic here, that sounds like “infinite” reasons to keep the Uber card forever.


Thanks for commenting! The Barclays Uber card is definitely an alternative for cell phone insurance. However, you’re limited to 2 claims per 12 months vs. 3 claims per 12 months with the Ink Business Preferred. I’m not an actuary, but if you consider the potential out-of-pocket on your third claim, it could still make sense to go with the Ink Business Preferred, even with the $100 deductible. Also, the Ink Business Preferred earns significantly more valuable rewards for folks looking to save on travel. And the card’s sign-up bonus is extremely lucrative.

I am an actuary so I figured I’d chime in. Keith is right that you have to figure in the potential out of pocket amount of a 3rd claim covered by the Ink Business Preferred over the Uber Visa. He didn’t mention that you also need to factor in the probability of that 3rd claim happening at all in the first place. The probability of having 3 cell phone insurance claims in a year is pretty small, so adjusting the expected cost by the probability of a claim means the expected loss of that 3rd claim is most likely much lower than the difference in deductible. For a majority of people, the Uber protection with a lower deductible will be more valuable then the potential for additional coverage on a 3rd claim/12 months that is unlikely to happen.


Hi Alex — one major factor to consider is the Ink Business Preferred is a small business card. The cell phone insurance with this card can extend to employee phones that are on your plan. For a small business with multiple employees, 3 claims in 12 months could be very likely. But for an individual, getting a personal card like the Barclays Uber can definitely make sense.

Any other chase cards that give the insurance benefit on the cell phones? Sapphire?

If not how do you qualify if you not have a business?

Also I would love to hear more about how to pay a mortgage without the fees on a credit card


Hi Amy – unfortunately, there are no other Chase cards with the same type of ongoing cell phone insurance.

We have several posts with tips for qualifying for small business cards with for-profit side ventures. Here are a few:




Regarding mortgage payments, I’m not sure of a way to pay using a card without the fees. There are companies like Plastiq, which can process payments to mortgage lenders, but you will have to pay a convenience fee.

Ok, this is ONE (as in “1”) compelling reason to keep/get the Ink Business Preferred card.

Really annoying this mindless “hype” to call it 264 reasons.

On the other hand, ONE (as in “1”) serious reason to ditch (or forego) this card is that you no longer get 3x points for paying your mortgage with it via Plastiq.

Ah, but if you’re the sort of feller who enjoys forking over 1k for the latest Apple I-whatever, then sure, keep paying the annual fee on the card, keep telling yourself that you still have 263 reasons to keep the card.


I’m going to pass on the newest version of the iPhone. I wrote about that here: https://millionmilesecrets.com/news/apple-iphone-launch/

Nice guy