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The Million Mile Secrets team has been chatting about what cards they most want to get in the New Year, and Jason has his eye set on the Chase Ink Business Preferred card. I’ll let him share more about why he’s excited to get this card.
Jason: Thanks, Daraius! I’ve been considering the Chase Ink Business Preferred Credit Card for a while.
And the best part is, I think I’ll be able to save more from the Chase Ink Business Preferred card’s perks than I will from the sign-up bonus!
There are lots of reasons I would like to have the Chase Ink Business Preferred card. Here are my top 5!
5 Reasons the Chase Ink Business Preferred Is Next on My List
The Chase Ink Business Preferred card currently comes with an 80,000 Chase Ultimate Rewards point bonus after spending $5,000 on purchases within the first 3 months of account opening. And the card’s perks can easily make up for the $95 annual fee, which is NOT waived the first year.
Obviously, I am excited about the possibility of adding 80,000 Chase Ultimate Rewards points to my account. And with the Chase Ink Business Preferred card, you can redeem Chase Ultimate Rewards points for 1.25 cents each towards travel booked through the Chase Travel Portal. That makes the sign-up bonus worth $1,000 in travel (80,000 points X 1.25 cents per point).
What’s even more appealing to me is the potential value of the card’s other benefits.
1. The Unbelievable Referral Bonus!
I qualify for the Chase Ink Business Preferred because I am an independent contractor. And I know a lot of folks who also qualify for small business credit cards. My wife is eligible because she does a lot of freelance artwork. And my parents have been building custom kitchens for years.
Currently, you can earn 20,000 Chase Ultimate Rewards points per successful referral. I should be able to earn at least an extra 40,000 Chase Ultimate Rewards points, which is worth $500 in travel (40,000 points X 1.25 cents per point) booked through the Chase Travel Portal!
2. The Chase Ink Business Preferred Earns My Favorite Points!
Chase Ultimate Rewards points transfer at a 1:1 ratio to my favorite airline for award flights – United Airlines! I love United Airlines for a lot of reasons, including:
- No fuel surcharges on partner award flights
- Easy to find & book award flights
- Low taxes & fees on awards
- United Airlines has direct flights from where I live to where my folks live
If I can’t use my miles & points easily and cheaply then I don’t find them useful. Transferring my Chase Ultimate Rewards points to United Airlines meets both of these desires.
And when I want to book a free hotel night I’ll have more than enough options! I normally like to book luxury stays at Hyatt hotels. But if I can find a cheap IHG PointBreaks hotel where I’m going, I’ll gladly save the points!
Earning more points that can get me awards with those travel partners will make me a happy man!
3. The Peace of Mind I’ll Have When I (Inevitably) Drop My Cell Phone
I look forward to having the extra peace of mind that will come with the wide array of insurance benefits from the Chase Ink Business Preferred.
I’m in the market for a new cell phone. I may have dropped mine one too many times. I like the idea of only having to pay my monthly phone bill with my Chase Ink Business Preferred card to get cell phone insurance.
I’ll be covered for up to $600 in damages or theft with only a $100 deductible. So I can save up to $500 in out of pocket expenses per incident! And I’ll be able to use this benefit 3 times per 12-month period!
But cell phone insurance isn’t the only coverage that comes with the card. I’ll also have:
- Trip delay coverage of up to $500 per ticket
- Lost luggage reimbursement of up to $3,000 per person per trip
- Baggage delay benefit of up to $100 a day for 5 days
- Trip interruption or cancellation coverage of up to $5,000
- Primary rental car insurance when renting for business purposes
- Travel accident insurance
- Roadside assistance
To qualify for most of these benefits, you only need to pay for at least part of the trip with your Chase Ink Business Preferred card. But the specific rules for each insurance are different, so make sure you read the card’s benefits guide for all the details.
I’ll save a lot on any car I rent for business purposes because I won’t have to pay extra for insurance. And even though I don’t plan on having an emergency, the trip cancellation, lost baggage, and trip delay coverage will take the sting out of a stressful situation.
4. I’ll Be Able to Make Use of the Spending Bonus Categories
I have a lot of credit cards. So it’s important to me to only get new credit cards I have a reason to hold onto year after year. Because I want to increase the age of my accounts for my credit score.
One reason I don’t mind paying the annual fee on a credit card is if it offers bonus points for spending I was going to make anyway.
I am excited about the spending bonus categories on the Chase Ink Business Preferred. I can earn 3 Chase Ultimate Rewards points per $1 spent on the first $150,000 in combined purchases in the following categories each account anniversary year:
- Phone, internet, and cable services
- Advertising purchases on social media and search engine optimization
I like to sell on eBay, so I’ll use this card for the shipping expenses. And since I already want to pay my phone bill with the card to get the cell phone insurance, it’s free points!
I estimate that between travel, shipping, phone, and internet expenses I could earn an extra 20,000 Chase Ultimate Rewards points a year. Those points are worth $250 in travel (20,000 points X 1.25 cents per point) booked through the Chase Travel Portal! That’s a nice bonus to earn for purchases I plan to make anyway!
5. I’ll Be Able to Stay Under the “5/24” Rule
Banks are getting stricter with their application rules all the time. So I am more selective about which cards I apply for and how often I apply.
I currently am just under the Chase “5/24” limit, thanks to a lot of business card applications! If I get the Chase Ink Business Preferred card, I will not only earn a lucrative bonus, but I will still be under the “5/24” rule! That’s because Chase doesn’t report small business credit cards to your personal credit report.
So I can still get another big bonus on a Chase credit card in the future! This might be the biggest benefit of all because I’ll be able to maintain the flexibility to grab a great deal when it pops up.
Team member Jason wants to apply for the Chase Ink Business Preferred card.
He’s excited about earning the 80,000 Chase Ultimate Rewards point bonus after spending $5,000 on purchases within the first 3 months of account opening. But he’s even happier to make use of the card’s other benefits.
He expects to earn an additional 60,000 Chase Ultimate Rewards points from spending and referral bonuses. And if he ends up using any of the extra perks, like cell phone insurance, he could save Big Money!
Which card is on your wish list?