Even Shrewd Deal-Hunters Shouldn’t Mind Paying the Annual Fee on this Popular Chase Credit Card

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Even Shrewd Deal-Hunters Shouldn’t Mind Paying the Annual Fee on this Popular Chase Credit Card

EmilyEven Shrewd Deal-Hunters Shouldn’t Mind Paying the Annual Fee on this Popular Chase Credit CardMillion Mile Secrets Team

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Many people don’t like credit cards that charge an annual fee.  But savvy miles and points enthusiasts will know that sometimes it’s worth it to pay the annual fee because the benefits outweigh the costs.

The Million Miles Secrets Team loves the Chase Ink Business Preferred℠ Credit Card.  It’s a staple in many of our wallets and great for business owners.  While it does come with a $95 annual fee, I’ve had this card for 2 years and continue to pay the annual fee.

So is it worth paying the annual fee?  We believe so!  The benefits far outweigh the price.  We’ll show you how!

The Chase Ink Business Preferred Has the Highest Sign-Up Bonus of Any Chase Ultimate Rewards Points Earning Credit Card!

Why the Chase Ink Business Preferred Credit Card Annual Fee Is Worth It!

Apply Here:   Ink Business Preferred Credit Card

Read our review of the Ink Business Preferred

The Ink Business Preferred℠ Credit Card is worth the annual fee because the sign-up bonus alone is worth ~$1,000 in travel booked through the Chase Ultimate Rewards Travel Portal.  I have this credit card, and it’s my #1 recommended business credit card!

You can transfer your Chase points to any of their airline and hotel partners.  You can redeem the welcome bonus from the Ink Business Preferred for rewards such as:

  • ~$1,200 worth of flights on Southwest Airlines (or nearly doubled if you have the Southwest Companion Pass!)
  • Round-trip coach award flight to Europe
  • 5 free nights at the Andaz Peninsula Papagayo hotel in Costa Rica (a bucket list item of mine!)
Ink Business Preferred Sign Up Bonus For Airfare
Million Mile Secrets Team Member Keith Transferred 25,000 Chase Ultimate Rewards Points to United Airlines to Book a Business Class Seat Selling for ~$1,600. This Can Be a Terrific Way to Make the Most of the Ink Business Preferred Sign-Up Bonus!

Chase Ink Business Preferred 3X Points per $1 Spending Categories

You’ll earn 3X Chase Ultimate Rewards point 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).

Most small businesses won’t use all of the bonus categories, but certain categories like travel, internet, and phone services can really add up!  And chances are, the points earned from regular expenses should be worth far more than the $95 annual fee.

We particularly love the cell phone insurance of up to $600 when you pay your cell phone bill with the card.  Team member Keith found the cell phone insurance came in handy when he shattered his phone TWICE.

Between the 2 claims, he got $264 back from Chase card benefit services.  That alone offsets the annual fee.

Hopefully You’ll Never Have to Deal With a Broken Phone, but If You Do, the Cell Phone Insurance on the Chase Ink Business Preferred Could Come in Handy!

Which credit cards do you pay the annual fee on?  Share with us 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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I keep holding off on this card based on the fact that I have ~ half a million chase points. How real does your business need to be? I would feel extremely stupid if at some point they took them all away because my business umm never took off…

Chase shutdowns seem pretty rare so I wouldn’t worry too much about that. Just be honest on your application. Many have been approved as sole props making just a few hundred dollars a year.

I just applied for this card. Called Chase and asked for them to expedite so I can start my spending, and they were happy to oblige.

Awesome! Congrats. I love this card.

A few questions:

Is this card recommended if you dont have a Sapphire as of yet?

Can it take the place of a Sapphire Reserve (same transfer benefits)?

And I guess I’m a bit reluctant to apply for this card for my “business”. Esp that I already have the CIC and CIU. Should I be concerned?

Thanks

Hi Mike – I have both the Ink Business Preferred and Sapphire Reserve so it depends on your preferences. You’re correct that having either or will get you the transfer perk, which is great.

It depends when you got the Ink Cash and Ink Business Unlimited, but I recently wrote about how I have all 3. So it’s definitely possible to have them all. Here’s a link to the recent post:

https://millionmilesecrets.com/news/apply-for-multiple-chase-ink-business-cards/

It’s important to note that the cell phone insurance does not cover leased phones or phones bought second hand. I feel that’s a big deal breaker on the value of this coverage.

Hi Gabrielle – I always thought leasing phones was complicated and didn’t make much sense. I typically buy the phone outright or pay it off in interest free installments through the carrier. I’ve been successful with 2 cell phone insurance claims for phones that were being financed. I haven’t had any experience with leasing though.