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If you have a small business (even just a side-gig!), the Ink Business Preferred Credit Card should be at the top of your list of cards to get. It comes with an amazing welcome bonus that can get you a dream vacation, and offers a ton of perks to make your life as a small business owner much, much simpler.
Right now, you can earn an intro bonus of 80,000 Chase Ultimate Rewards points after spending $5,000 on purchases in the first 3 months from opening the Ink Business Preferred Credit Card. That’s worth at least $1,000 in travel when you redeem your points for flights, hotels, rental cars, and more through the Chase Ultimate Rewards Travel Portal.
You’ll also earn bonus points for many purchases like travel, shipping, internet/phone/cable, and advertising. And you’ll receive loads of valuable perks like cell phone insurance, and many other travel and purchase protections!
Here’s more about why the Ink Business Preferred Credit Card can save you time and money as a business owner!
The Ink Business Preferred’s Welcome Bonus Is Worth at Least $1,000 in Travel
Apply Here: Ink Business Preferred Credit Card
With the Ink Business Preferred Credit Card, you’ll earn 80,000 Chase Ultimate Rewards points after spending $5,000 on purchases in the first 3 months from account opening. That’s worth at least $1,000 in travel if you redeem the points through the Chase Travel Portal, which makes the card’s $95 annual fee very reasonable.
But those points could be worth much, much more! Chase Ultimate Rewards points are extremely flexible because you can transfer your points to valuable airline and hotel partners. You could get much more than $1,000 in travel by moving your points to partners like United Airlines and Southwest!
For instance, if you’re eyeing a trip to Seattle, you could transfer 72,000 Chase Ultimate Rewards points to Hyatt for a 6-night stay at the Hyatt House Seattle Downtown, saving you close to ~$1,600 depending on your travel dates. I recently stayed at this same hotel for 3 nights and paid nothing out of pocket by transferring 36,000 Chase Ultimate Rewards points to Hyatt at a 1:1 transfer ratio. Without points I would have paid nearly $800!
You can also transfer your points to airline partners, which is arguably one of the best redemption options. Team member Meghan transferred just 35,000 Chase Ultimate Rewards points to United Airlines on her flight to Belize, saving her $700.
And there are some even sweeter redemption options. By transferring 26,000 Chase Ultimate Rewards points to Aer Lingus or British Airways, you could book round-trip flights to Ireland during the off-season from cities like Boston, Chicago, New York, and more! It’s not unusual for these flights to cost more than $1,000, so if you’re planning a trip to Europe, you could potentially receive over $3,000 in value from the card’s welcome bonus!
How to Earn Points With the Ink Business Preferred Credit Card
As a small business owner, it makes good sense to earn rewards for expenses you run into on a daily basis. With the Ink Business Preferred Credit Card, you’ll take the sting out of your expenses, because you’ll earn bonus points for many different purchases:
- 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)
- 1X Chase Ultimate Rewards points on all other purchases
- Up to $600 in cell phone insurance when you pay your cell phone bill with the card
- 25% bonus when you redeem points through the Chase Ultimate Rewards travel portal
How to Use Chase Ultimate Rewards Points
Chase Ultimate Rewards points are our favorite type of flexible points to earn. The simplest way to redeem them is through the Chase Ultimate Rewards Travel Portal, where each point is worth 1.25 cents.
But if you’re looking to get even more value out of your points, you can also transfer them to any of Chase’s airline and hotel travel partners.
You can also combine points earned with the Ink Business Preferred with other Chase cards that earn Ultimate Rewards points, and you can do this easily and instantly in your Chase online account.
Ink Business Preferred Credit Card Benefits
You can make your life easier by taking advantage of the perks available to you as an Ink Business Preferred cardmember, because these can save you tons of time and money!
Cell Phone Insurance
The Ink Business Preferred offers up to $600 in cell phone insurance for you and any employees listed on your monthly bill after paying a $100 deductible, so your net savings could be as much as $500. There’s no separate registration process to be covered.
Now there are some exclusions. For instance, lost phones are not covered, and covered phones must have been purchased new. But considering how expensive cell phones are nowadays, this is a fantastic benefit to have and could save you some serious cash if your phone is accidentally damaged!
Team member Keith has used this perk twice over the past year, saving a total of $264 in repairs! He saved $85 when he needed to replace the screen on his Apple iPhone 7 Plus, and another $179 for a screen replacement on his Apple iPhone X!
Primary Rental Car Insurance
The card also provides primary auto rental insurance (CDW) when you rent a car for business purposes as long as you decline the Collision Damage Waiver through the car rental agency. This can end up saving you a TON of money!
With primary rental car insurance coverage, you typically will not be required to file any insurance claim with your own car insurance company because the credit card insurance will generally pick up the bill for physical damage, towing charges, and damages arising from theft.
Team member Harlan saved nearly $700 thanks to primary rental insurance from his Chase Sapphire Reserve card when his rental car got dinged on the passenger side door! So instead of paying ~$700 out of pocket, he simply filed a claim with his credit card and had them pick up the bill instead!
Extended Warranty Protection
When you purchase an eligible item with the card, you can receive up to an additional year of warranty coverage, provided the original manufacturer’s warranty is 3 years or less. This coverage has a cap of $10,000 per claim, and $50,000 per account.
With extended warranty protection, if you purchase an item and it ends up being damaged or stolen, you could be covered for up to $10,000 per claim, up to a maximum of $50,000 per account!
This coverage will protect you for 120 days after you originally purchased the item, and can save you some serious cash!
Many different items are covered, although you can find the full list of details and exclusions in Chase’s Guide to Benefits.
Trip Cancellation/Trip Interruption Insurance
If you use the card to pay for your trip, you could be covered for up to $5,000 of expenses if your trip ends up being delayed or cancelled for reasons like weather, illness, or injury. Immediate family members and business owners also qualify for this coverage!
You’ll also be covered if your luggage is damaged or lost in transit. Coverage is limited to $3,000, although items like jewelry, watches, cameras, and other electronic equipment are capped at $500.
Instead of paying extra for a membership to AAA, or adding expensive roadside coverage to your auto insurance policy, you’ll have the option of utilizing the card’s roadside dispatch benefit!
By calling 800-847-2869 and paying a flat fee of ~$65, you can take advantage of services such as:
- Tire change (as long as you provide the spare tire)
- Jump starts for a dead battery
- Lockout service
- Fuel delivery (up to 5 gallons)
Is the Ink Business Preferred Card Worth the Annual Fee?
The Ink Business Preferred has a $95 annual fee which is NOT waived for the first year. However, given that the welcome bonus alone is worth at least $1,000, this makes the card well worth it for virtually everyone!
For most people, the Ink Business Preferred is also worth keeping for the long run. That’s because the card comes with a ton of perks that could save you some serious cash! For example, accidentally damaging your phone just once could end up saving you hundreds of dollars thanks to the card’s $600 cell phone insurance.
You might also wind up in the same boat as team member Harlan if your rental car gets damaged. But with this card’s primary rental car insurance, you could end up saving hundreds, if not thousands of dollars, just by having the credit card insurance cover the bill instead!
Other perks like roadside dispatch, extended warranty, and purchase protections could also wind up saving you many thousands of dollars.
You seriously get a TON of protection with this card, and it’s really a steal at just a $95 annual fee!
Does the Ink Business Preferred Card Charge Foreign Transaction Fees?
Who Is Eligible for the Ink Business Preferred?
Chase will NOT approve you for this card if you’ve opened 5+ cards from any bank (NOT counting other Chase business cards and business cards from most other banks) in the past 24 months. Many people refer to this as the “5/24 rule”.
You can follow these instructions to figure out if you’re eligible.
Outside of the 5/24 rule, you’re eligible for this card if you’re a business owner. Now that doesn’t mean you have to be an officer of a multi-million dollar company. In fact, you could already be a business owner and not realize it! Nearly every Million Mile Secrets team member qualified for a Chase Ink card because of their side gigs, like reselling on eBay, running an Airbnb, or managing vacation rentals.
Here is how you can complete a Chase business card application.
Customer Support for the Ink Business Preferred Credit Card
Chase customer support is available 24/7. So if you ever have an issue with your card, you can always call them and speak with a live person.
I’ve always found Chase support very friendly and efficient. In fact, just a few months ago, I had not one, but TWO Chase credit cards stolen right out of my mailbox! I didn’t find out about this until I was checking my account online around midnight, and saw some charges I did not recognize. I immediately called Chase to report the fraudulent charges, and to re-issue new cards ASAP.
Having to deal with the fraud was an inconvenience, at best, but the Chase representatives made it extremely easy and everything was sorted out without any additional effort on my part! Now that’s what I call top notch 24/7 customer service.
Similar Cards to the Ink Business Preferred Credit Card
Apply Here: Ink Business Cash Credit Card
Read our review of the Ink Business Cash
Apply Here: Ink Business Unlimited Credit Card
Read our review of the Ink Business Unlimited
If you’re looking for a card with no annual fee, Chase offers 2 other Ink Business cards with outstanding welcome bonuses.
The Ink Business Cash Credit Card is currently offering a welcome bonus of $500 (50,000 Chase Ultimate Rewards points) after spending $3,000 in purchases within the first 3 months of opening your account. You’ll also earn:
- 5% cash back (5X Chase Ultimate Rewards points per $1) on the first $25,000 spent in combined purchases at office supply stores and on phone, internet, and cable TV services each account anniversary year
- 2% cash back (2X Chase Ultimate Rewards points per $1) on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
- 1% cash back (1X Chase Ultimate Rewards point per $1) on all other purchases
And if you’re looking for an easier approach, the Ink Business Unlimited Credit Card offers an unlimited 1.5% cash back on every purchase for your business, on top of a $500 (50,000 Chase Ultimate Rewards points) intro bonus after you spend $3,000 on purchases in the first 3 months. There aren’t any categories to keep track of, so it’s a great pick if you’d rather keep it simple.
You can qualify for the Ink Business Preferred Credit Card even if you don’t have a full-time business. Most for-profit ventures, like doing yard maintenance, driving for Uber or Lyft, and selling items on eBay are all examples of eligible businesses.
And the intro bonus of 80,000 Chase Ultimate Rewards points after spending $5,000 on purchases in the first 3 months from account opening is worth at least $1,000 in travel. And potentially more when you transfer your points to valuable travel partners like United Airlines and Hyatt!
If you are a business owner, you should strongly consider the Ink Business Preferred Credit Card. That’s because as a cardmember, you’ll receive ongoing perks like cell phone insurance, roadside dispatch, trip delay insurance, and purchase protections that can save you hundreds, if not thousands of dollars, even if you only use the perks once.
You can apply for the Ink Business Preferred Credit Card here.