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The start of any small business is an exciting time. There are many decisions you make, which can have a profound impact on your business in the future.
While there are many excellent small business credit cards out there, if you’ll only pick one, the choice is easy. The Ink Business Preferred Credit Card has the highest public sign-up bonus of any Chase Ultimate Rewards card, worth $1,000 in travel after meeting minimum spending requirements. And you’ll earn a ton of bonus Chase Ultimate Rewards points in common business spending categories, plus enjoy money-saving purchase and travel protections, including cell phone insurance, when you use your Ink Business Preferred card.
Here’s why the Chase Ink Business Preferred is our #1 business credit card pick, and the card to get if you’ll only have one!
If You Can Only Have One Credit Card for Business, Get the Chase Ink Business Preferred
Apply Here: Chase Ink Business Preferred
We love the Chase Ink Business Preferred card, and for good reason. This card is approachable for small ventures that are just getting started while also still valuable for even the most established corporation. That’s why we rank it our best overall credit card for small business owners.
But it’s not just for full-time businesses. Small businesses of all sizes can benefit from the Ink Business Preferred’s valuable perks and rewards, even if you’re just getting started. You may already have a small business without realizing it! Even if you have a for profit-side gig like reselling items on eBay, coaching, or tutoring, you’re eligible and can apply as a sole proprietor using your social security number.
Snag a Sign-Up Bonus Worth $1,000+
Right now the Chase Ink Business Preferred card offers the best welcome offer of any Chase Ultimate Rewards card. You can earn an incredible 80,000 Chase Ultimate Rewards points after spending $5,000 on purchases within the first 3 months of account opening.
With the Ink Business Preferred, you can use Chase Ultimate Rewards points for cash back at 1 cent per point, or get even more value by redeeming them for travel (including airfare, hotels, and car rentals) through the Chase Ultimate Rewards travel portal, or transfer points to hotel and airline partners.
When you redeem your points for travel through the Chase Ultimate Rewards travel portal (similar to booking though sites like Expedia) they’re worth 1.25 cents a piece. So the 80,000 Ultimate Rewards points you’ll earn from the welcome bonus are worth $1,000 in hotels, flights, rental cars, or activities.
And you could get an even better deal by directly transferring your Chase Ultimate Rewards points to popular hotel and airline partner programs at a 1:1 ratio.
Earn Triple Points With the Ink Business Preferred on Top Business Categories
After you enjoy your valuable sign-up bonus, the rewards don’t stop coming. You can continue to earn Chase Ultimate Rewards points from everyday business purchases that you make.
The bonus categories offered for this card are tailored to the needs of a growing business, so you can earn extra points from expenses you have to make anyway. And you can quickly rack up huge pools of points to use towards free getaways when you are ready to take a vacation.
You’ll earn 3X Chase Ultimate Rewards points per $1 on the first $150,000 spent each account anniversary year in combined purchases within these categories:
- Shipping purchases
- Internet, cable, and phone services
- Advertising purchases with social media sites and search engines
You will also earn 1X Ultimate Rewards points per $1 spent on all other purchases, with no limits to how much you can earn.
These bonus categories are one of the most powerful ways beyond the initial welcome bonus to earn rewards towards free travel. Many businesses spend thousands of dollars a month in these categories, and by putting those expenses on your Chase Ink Business Preferred card, your points balance can grow at an incredible rate.
For example, both Keith and Jasmin from the Million Mile Secrets team resell items on sites like eBay in their spare time. So when they sell something, they use their Chase Ink Business Preferred card for the shipping charges to earn more points.
Any business that advertises on search engines or social media sites like Facebook, Instagram, and Google, can benefit immensely from these bonus rewards. A friend of mine owns a pest control company and spends ~$5,000 per month on Google advertising. His advertising generates monthly revenue equal to or greater than what he spends on his advertising budget.
And by using his Chase Ink Business Preferred card he earns ~15,000 Chase Ultimate Rewards points per month (3 points x $5,000) from his advertising expenses alone.
Protect Your Purchases With Cell Phone Insurance and Extended Warranty
In order to run a successful business, you need to stay connected. Your cell phone is likely the life-blood of your business.
Thanks to the Chase Ink Business Preferred card, you can worry less about your phone, because it’s covered with cell phone insurance as long as you pay your cell phone bill with your card. You’ll get up to $600 per claim in cell phone protection against covered theft or damage for you and your employees listed on your monthly cell phone bill. There are a maximum of 3 claims in a 12-month period with a $100 deductible per claim.
Yes, this is real! Team member Keith used this perk to get a reimbursement after he paid to replace his shattered iPhone screen.
As another perk, you can enjoy extended warranty on expensive purchases you make while growing your business. This could be computers, TVs, or anything else. This works by extending the time period of US manufacturer’s warranty by an additional year on eligible warranties of 3 years or less.
The Ink Business Preferred Pairs With Our Favorite Personal Chase Cards Too
Because these cards also earn Chase Ultimate Rewards points, you can combine points from your Chase Ink Business Preferred card to your other Chase Ultimate Rewards earning cards for even more free travel!
The benefits get really good for folks who hold the Chase Sapphire Reserve, because you can redeem points through the Chase Ultimate Rewards travel portal for 1.5 cents each (instead of 1.25 cents each). This means you can earn more value from the same points earned on your Chase Ink Business Preferred by transferring them to your Chase Sapphire Reserve and redeeming them with that card.
Free Ink Business Preferred Cards for Your Employees
As you hire more employees and grow your business, owners often find it convenient to provide business credit cards to trusted employees. This allows them further autonomy at work and saves you from headaches caused by managing petty cash or reimbursements.
With the Chase Ink Business Preferred, you can request free employee cards for them to use under your account. You can set individual spending limits for each employee to better control their expenses too.
Best of all, any purchases that your employees make with their cards will earn points and product protection. This is a great way to accelerate rewards earning as a business owner.
Low Annual Fee
The Chase Ink Business Preferred has a relatively low $95 annual fee (which is not waived the first year). This is a great deal considering the benefits and perks you receive. Plus, there are no foreign transaction fees, which makes this a great card to use while traveling internationally.
Chase Customer Service and Small Business Tools
Chase is a trusted name in banking worldwide. They are a great partner to have with you as your business grows in size since they offer many other services to help your business grow. From business checking accounts to merchant processing, or commercial banking, Chase handles it all.
Their customer service is second to none. They have always been able to quickly and accurately answer any questions I have had regarding my cards or accounts. One of my favorite things is how quickly they are able to ship out new cards when the inevitable happens and can even send it overnight (for a very reasonable small fee).
I also have to mention the ease of use of the Chase mobile apps. The Chase Ink app lets you get instant purchase alerts of expenses and change employee spending limits on the fly. You can also tag and store receipts of purchases to make your accountant happy at the end of the year. It really makes it simple.
More Card Options as You Grow
While I already mentioned how beneficial the Chase Ink Business Preferred card can be when paired with personal credit cards for personal expenses, there are also other options for cards within the same Chase Ink family that you can use as your business grows.
Two other cards that pair well with the Chase Ink Business Preferred:
The Ink Business Unlimited is great because it offers you a simple 1.5% back (1.5 Chase Ultimate Rewards points per $1) on everything you spend, with no limits. This can be a good card to use whenever an expense falls outside of the 3X point bonus categories on your Chase Ink Business Preferred card. Instead of using your Chase Ink Business Preferred and earning 1X points, you can use the Ink Business Unlimited to earn 1.5X points.
The Ink Business Cash earns you 5% cash back (5 Chase Ultimate Rewards points per $1) on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet, and cable TV services each account anniversary year. Folks also earn 2% cash back (2 Chase Ultimate Rewards points per $1) on the first $25,000 spent on combined purchases at gas stations and restaurants each account anniversary year.
Both of these cards have no annual fee. So they are great compliments to your Chase Ink Business Preferred because they don’t cost you anything to keep open.
While these are marketed as cash back cards, you’ll earn Chase Ultimate Rewards points you can combine with other cards like the Chase Ink Business Preferred card and redeem for travel.
Even Your Side Hustle Can Qualify You for the Ink Business Preferred Card
Banks like to build ong-lasting relationships with business owners, so even if you don’t run a multi-million dollar corporation right now, you may easily qualify for a small business credit card like the Chase Ink Business Preferred.
Freelancers and consultants also qualify for small business cards like the Chase Ink Business Preferred! Any side income you generate for performing a service or selling goods whether it’s working as a freelancer or selling items on Etsy and eBay can qualify.
Chase doesn’t have any minimum income requirements for your business and you can apply as a sole proprietor with just your social security number. That means you can start building your business now and earning rewards from the Chase Ink Business Preferred card even while you are operating your business on a small scale (or even a side hustle).
If you are looking at getting just one small business credit card, the Chase Ink Business Preferred is hands down the best card you can have.
The Ink Business Preferred offers incredible travel or cash back reward opportunities from common business expenses. And it also pairs well with personal Chase cards, especially the Chase Sapphire Reserve. We also love the free cell phone insurance offered by this card. Plus, you’ll enjoy the free employee cards, a low annual fee, and great customer service offered by Chase.
You might qualify for the Ink Business Preferred card without even realizing it. If you are a freelancer, reseller, or consultant, you could apply for this card today with just your social security number as a sole proprietor!
Do you already have the Chase Ink Business Preferred card? What’s your favorite reason for keeping it?