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If you’re a small-business owner, you may have endured the pain of watching expenses eat away at your profits. Office supplies, cable bills, cellphone bills, marketing material … sometimes it seems like the bills never stop coming.
If this is your experience, you should consider the Ink Business Preferred credit card. In addition to being one of the best rewards credit cards and having strong earning rates for many purchases, you’ll receive benefits that can save you a ton of money, such as cellphone insurance, extended warranties and trip delay coverage.
And if you apply now, you can earn a welcome bonus of 80,000 Chase Ultimate Rewards points after meeting minimum spending requirements. That’s worth $800 in cash back, $1,000 in travel when you book through the Chase Ultimate Rewards travel portal and potentially much more when you transfer points to airline and hotel partners.
Let’s take a look at five Chase Ink Business Preferred benefits you’ll get just by being a cardholder.
Chase Ink Business Preferred benefits and perks
Here are some of the top benefits on this card that can save you hundreds, and possibly thousands of dollars.
Smartphones keep us connected and productive — which is especially important for a business owner.
If you accidentally drop your phone, spill something on it or otherwise damage it, that could mean hours of lost productivity. Time is money and without insurance, you’d have to pay several hundred dollars to repair or replace the phone.
Fortunately, the Ink Business Preferred Credit Card has your back with up to $600 in cellphone insurance. You’ll be covered as long as you pay your monthly cell phone bill with the card. Here’s more about the Chase Ink Business Preferred cellphone insurance.
A few key facts about the coverage:
- You can make up to three claims in a 12-month period, each with a $100 deductible.
- Lost phones are not covered (but stolen phones are).
- Covered phones must have been purchased new.
- Coverage includes employees listed on your monthly cellphone bill.
Primary rental car coverage
You probably want insurance when you rent a car, but is there a better alternative to the expensive coverage offered through the rental agencies?
With the Ink Business Preferred Credit Card, you’ll have primary rental car insurance when you rent a vehicle for business purposes within the U.S. If you rent a car overseas, you’ll be covered for personal and business car rentals.
As long as you decline the coverage offered by the rental agency, the primary coverage offered through the Ink Business Preferred Credit Card means you’re protected for things like physical damage due to theft or collision. And perhaps the best part is that you will not have to file a claim with your personal car insurance company.
We know it works from first-hand experience — team member Harlan saved nearly $700 with primary rental car insurance when he noticed a small ding on his rental car.
Lost luggage and trip interruption coverage
If you pay for at least part of your trip with the Ink Business Preferred Credit Card, you’ll be covered for up to $5,000 of certain prepaid expenses if your trip is canceled or delayed for a qualifying reason, such as weather, illness or injury. Immediate family members and business owners added to the card will also be covered. That means that if you’re traveling with two other family members, all three of you could potentially be covered for up to $5,000 each.
The Ink Business Preferred Credit Card also provides coverage for lost luggage. So if your luggage is damaged or lost in transit, you can file a claim through Chase to be reimbursed for the cash value of the items damaged or lost. This coverage is limited to a maximum of $3,000, but items like jewelry, watches, cameras and other electronic equipment are only covered up to a maximum of $500.
Extended warranty and purchase protection
There’s no worse feeling than purchasing something new, only to have it stolen or damaged. Fortunately, if you purchased the item with your card, you’ll be covered for 120 days up to $10,000 per claim, with a maximum of $50,000 per account.
Items not covered include animals and living plants, antique items, computer software, items purchased for resale, medical equipment, perishables and more.
It’s a little-known perk, but with the Ink Business Preferred Credit Card, you’ll be covered for roadside dispatch. By calling 800-847-2869 and paying a flat fee of ~$65 per service call, the program provides you services such as:
- Tire change (you must provide a spare tire)
- Jump starts for a dead battery
- Lockout service
- Fuel delivery (up to five gallons)
Depending on your auto insurance provider, roadside assistance can be expensive, so the Ink Business Preferred’s roadside dispatch coverage can be a money-saver.
The Ink Business Preferred credit card currently has the highest welcome bonus of any Chase Ultimate Rewards card. You’ll earn 80,000 Chase Ultimate Rewards points after you spend $5,000 on purchases within the first three months of account opening.
The card is geared to business owners and you may already qualify as a business owner without realizing it. You can apply as a sole proprietor using just your Social Security number.
Chase Ultimate Rewards points are our favorite rewards points because they’re incredibly flexible to use on a number of fantastic redemption options. The Ink Business Preferred welcome bonus is worth $1,000 in travel if you redeem your points through the Chase Travel Portal. But you can also transfer the points to any of Chase’s travel partners and get potentially much more value from flights, rental cars and hotels.
You’ll also earn the following for your purchases:
- 3x Chase Ultimate Rewards points per dollar 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 point per dollar on all other purchases
The $95 annual fee is not waived for the first year, but given the great earning rates and perks the card offers, you can easily come out ahead. You can read our detailed review of the Ink Business Preferred here.
The Ink Business Preferred Credit Card comes with a welcome bonus of 80,000 Chase Ultimate Rewards points after spending $5,000 on purchases within the first three months of opening the account. That’s worth $1,000 in travel booked through the Chase Travel Portal, and easily much more if you transfer the bonus to Chase’s travel partners.
You’ll also enjoy many money-saving perks which can more than offset the $95 annual fee, such as:
- Cellphone protection
- Primary rental car coverage (when renting for business purposes in the U.S.)
- Trip cancellation/trip interruption insurance
- Purchase protection
- Roadside dispatch
For these reasons, it’s easy to understand why the Ink Business Preferred consistently ranks near the top of our list of best business credit cards.
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