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Ink Business Preferred® Credit Card

Cory Santos

| Last updated on January 17th, 2024

Ink Business Preferred® Credit Card

Ink Business Preferred® Credit Card
Excellent-Good
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Excellent / Good
Visa Processing Network
$95 Annual Fee

Ink Business Preferred® Credit Card

  • 21.24% to 26.24% Variable Regular Purchase APR
  • 21.24% to 26.24% Variable Balance Transfer APR
  • 29.99% Variable Cash Advance APR

At a Glance

The Ink Business Preferred® Credit Card is a versatile small business credit card that simultaneously helps propel your business forward and rewards you for using it often.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed 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
  • Round-the-clock monitoring for unusual credit card purchases
  • With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
  • Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
  • Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
  • Member FDIC
  • Regular Purchase APR: 21.24% to 26.24% Variable
  • Balance Transfer APR: 21.24% to 26.24% Variable
  • Balance Transfer Transaction Fee: Either $5 or 5% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 29.99% Variable
  • Cash Advance Transaction Fee: Either $15 or 5% of the amount of each transaction, whichever is greater
  • Penalty APR: Up to 29.99% Variable
  • Annual Fee: $95
  • You own or operate a business
  • You travel often, especially work-related travel
  • You make recurring purchases for your business
  • You have excellent credit personally, or with their business
  • You are part of a Chase-partnered frequent travel program

Chase Ink Business Preferred® Credit Card Review

Chase Bank tailors the Ink Business Preferred® Credit Card for the traveling small business owner. The card easily passes the quality test by rewarding holders with points for the dollars they spend with it. The card surpasses typical business credit card expectations by netting excellent earnings for travel purchases.

Who Is the Ink Preferred Card for?

The Chase Ink Business Preferred backs plenty of punch but carries a $95 annual fee. Still, that annual fee is mild when you consider that employee cards are free of charge.

Because of the free employee cards, the Ink Business Preferred is ideal for companies who plan to issue several additional cards to employees. That’s because the top-end rewards with the card are capped at $150,000 per year. Sure, those categories (travel, shipping, internet/phone, and social media advertising) are fairly specialized – but so are the budgets and needs of larger companies.

The Preferred also benefits from 25% more value when booking reward travel using the Chase Ultimate Rewards portal. This enhanced value makes the card ideal for companies with more than one Chase Ink account – perhaps the Ink Cash, which earns up to 5% back on critical categories.

How to Get the Ink Business Preferred

If you’re convinced that the Chase Ink Business Preferred® Credit Card is the right fit for your business, applying for the card is a simple and straightforward process. You can visit the Chase website or go to a local branch to begin the application. The application typically requires basic information about your business, such as its legal structure, annual revenue, and number of employees.

It’s important to note that credit card applications require a credit check, and the approval process may take a few days. To increase your chances of approval, it’s advisable to have a good credit score and a solid credit history. Once your application is approved, you can expect to receive your Chase Ink Business Preferred® Credit Card within a few business days.

Ink Preferred Rewards Guide

Gigantic Welcome Offer

The premier business credit cards typically feature an impressive points welcome bonus – and the Ink Business Preferred® Credit Card certainly holds up its end of the bargain here. The card offers a dizzying 100,000-point welcome bonus after spending $8,000 on purchases in the first three months from account opening.

That 100k Ultimate Rewards points haul has an award value of $1,250 when redeemed for travel through Chase and a value of $1,000 when redeemed for cash back. Because the Ink Business Preferred® Credit Card earns Ultimate Rewards, however, the opportunities for redeeming points are almost endless, making the card perfect for small businesses that plan to spend heavily in the first three months and want a versatile rewards structure that works for them.

Earn Impressive Points with Every Purchase

The Ink Business Preferred® Credit Card is a small business rewards card that prioritizes quality, business-centric bonus categories, and impressive redemption options for travel. The card earns 3X Ultimate Rewards points per $1 spent on the first $150,000 in combined purchases each calendar year in select categories. These 3X categories are:

  • Travel
  • Shipping purchases
  • Internet, cable, and phone services
  • Advertising purchases made with social media sites and search engines

All other purchases with the Ink Business Preferred® Credit Card earn 1X points per $1 spent, with no cap on the total points earned.

The $150,000 annual cap on spending per year seems monumental, but it breaks down to about $12,500 per month in the select 3X categories. This threshold is easily attainable for larger companies but still provides exceptional value – namely, $9,000 in travel rewards when redeeming points through Chase.

Cash Back Categories Explained

Travel

Chase states that the following merchants are classified as “travel”: airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds, and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages. Some merchants that provide transportation and travel-related services are not included in this category; for example, real estate agents, educational merchants arranging travel, in-flight goods and services, on-board cruise line goods and services, sightseeing activities, excursions, tourist attractions, RV and boat rentals, merchants within hotels and airports, public campgrounds and merchants that rent vehicles for the purpose of hauling.

Shipping

The “shipping” category includes merchants specializing in mailing packages, hauling freight, and transporting goods or documents. Shipping merchants include couriers, postal and freight shipping companies, express shipping services, and mailbox stores. Merchants who sell a wide variety of general goods but also ship items, including office supply stores and mail packages, will not be included in this category.

Internet, Cable, and Phone Services

Only purchases made for internet, cable, satellite TV and radio, cellular, wireless data, and landline services will be eligible for the 5% back bonus. The purchase of internet, phone, or other equipment is not included. If you buy or pay for your internet, cable, satellite TV, phone, or any related services in a store not categorized by the merchant under the relevant services category, the purchase or payment will not be considered eligible. For instance, if you make phone bill payments in a store that is classified as a telephone equipment store.

Social Media Advertising

Merchants in this category include social media websites and online search engines that advertise a business, brand, product, or service. Advertising purchases not made directly from a social media website or online search engine merchant may not qualify; for example, advertising purchases made through a third party such as an ad agency or web designer offering related services.

How to Redeem Cash Back

As mentioned, the Ink Business Preferred® Credit Card really shines when redeeming its impressive points for travel via the Chase Ultimate Rewards portal. Through Chase’s proprietary Ultimate Rewards® program, cardmembers and authorized employees can squeeze an additional 25% value out of their points for travel redemption.

Again, this means 100,000 points will be worth $1,250 rather than the usual $1,000. If users prefer redeeming points through a different frequent travel program, Chase offers a 1:1 transfer rate for partnered brands. Cardmembers can potentially earn points for over a dozen different loyalty programs and can select any of them. Those Chase transfer partners include:

Aer Lingus (AerClub) Air France/KLM (Flying Blue) Emirates (Skywards)
Air Canada (Aeroplan) British Airways (Executive Club) Iberia Plus
JetBlue (TrueBlue) Southwest (Rapid Rewards) Singapore Airlines (KrisFlyer)
Virgin Atlantic (Flying Club) United Airlines (MileagePlus) IHG Rewards
Marriott Bonvoy World of Hyatt

The program also provides other award choices for those who prefer other reward options to travel. These options include:

  • Cash back as a statement credit or deposit into a deposit account
  • Gift cards
  • Shopping through Ultimate Rewards partners, including Amazon
  • Charitable donations

Ink Business Preferred Benefits

Complimentary Employee Cards

If you have multiple employees who will require additional cards issued, Chase conveniently allows you to set individual spending limits so you can stay on top of your business expenses. Remember that the 3X cash back category is capped at $150,000 annually across the account, not for each authorized cardholder.

Visa Signature Features

Zero Fraud Liability Roadside Dispatch Cardholder Inquiry Services
Lost/Stolen Card Reporting Emergency Card Replacement Auto Rental Collison Damage Waiver
Travel and Emergency Assistance Services Purchase and Extended Protection Lost Luggage Reimbursement

The Ink Preferred Card provides an impressive selection of benefits and protections through the Visa Business network. These benefits and protections go far beyond what cardmembers expect from Visa products, including the following features:

  • Cell Phone Protection: Ink Business features up to $1,000 in cell phone protection when paying your mobile phone bill using the Ink Business Preferred Card. This feature is good for up to 3X per year but requires a $100 deductible for each claim.
  • Trip Reimbursement and Insurance: The card also provides comprehensive travel protections. First, cardmembers receive up to $5,000 of coverage per person for prepaid, nonrefundable travel expenses when using the card to pay for travel. This benefit is limited to $10,000 per trip. Second, cardmembers enjoy up to $500 per ticket at reasonable expenses when a flight or trip is delayed by more than 12 hours or requires an overnight stay.
  • Purchase Protection: Purchase protection for up to 120 days, up to $10,00 per claim and $50,00o per year.

Mobile App

Additionally, the mobile app provides access to the following benefits:

Set spending limits The Chase Mobile banking app lets businesses set caps on specific on cards to prevent overuse or misuse.
Organize receipts The mobile app provides a streamlined way of generating expense reports and bookkeeping, with purchases automatically recorded in the app.
Label purchases The Chase mobile app allows companies to tag purchases and sync with its Chase.com account to create dynamic spending reports.

Chase Ink Comparison

Ink Business Cash® Ink Business Unlimited® Ink Business Preferred®
Rewards Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year Earn unlimited 1.5% cash back on all purchases 3X on travel, shipping, internet, cable and phone services and advertising purchases made with social media sites and search engines on the first $150,000 in combined purchases each account anniversary.
Intro APR 12 months on purchases 12 months on purchases N/A
Add. cards Free Free Free
Annual fee $0 $0 $95

Pros & Cons

Pros Cons
Generous welcome offer $95 annual fee
Complimentary employee cards Excellent credit required
25% more point value when booking travel through Ultimate Rewards Rewards are capped
120 days of purchase protection

What We Like About the Ink Business Preferred Card

Travel Benefits

One of the most enticing features of the Ink Business Preferred Credit Card is its ability to unlock travel rewards. If your business involves frequent travel, this card can be a game-changer. By using the card to pay for travel expenses, such as flights, hotels, or car rentals, you can earn substantial points that can be redeemed for future travel. This can result in significant savings and allow you to enjoy more trips without breaking the bank.

The Ink Business Preferred Credit Card also offers travel benefits like trip cancellation and interruption insurance. This insurance provides coverage in case your trip is canceled or interrupted for covered reasons, protecting you and your business from potential financial losses. With these travel rewards and benefits, the Ink Business Preferred Credit Card becomes an invaluable asset for entrepreneurs who frequently travel for business purposes.

Rewards

While travel rewards are undoubtedly appealing, the Ink Business Preferred Card also allows entrepreneurs to maximize cash back. By using the card for everyday business expenses and select categories, you can earn valuable cash back rewards that can contribute to your business’s financial growth. Whether advertising expenses, shipping costs, or phone services, the Ink Business Preferred Credit Card ensures you earn points on every dollar spent.

Also, the Ink Business Preferred Credit Card provides a unique “Pay Yourself Back” feature. With this feature, you can redeem your points for statement credits against eligible purchases in select categories, turning your rewards into cash back. This flexibility allows you to use your rewards to offset business expenses, ultimately reducing your financial burden.

Things to Consider

No 0% APR

The biggest downside with the Ink Business Preferred business card is the lack of a lengthy 0% APR period for new accounts. Other Chase Ink cards, namely the Ink Cash and Ink Unlimited, offer a full year of 0% APR on purchases. For a card with an annual fee you would think that would be extended to the Preferred Card, but it is not.

Annual Fee

Because of the impressive rewards and perks, companies will require excellent credit to get the Ink Business Preferred® Credit Card. The card also carries a $95 annual fee, but the earned rewards points can quickly offset it. Fortunately, the card also offers extra employee cards at no additional cost, plus a suite of business protection and monitoring tools. Even better, the card has no annual fee.

FAQs About Chase Ink

Here you can find answers to some of the commonly asked questions about Chase Ink business credit cards:

  • Yes. Most credit cards result in a hard pull when applying. Chase may use a soft pull when checking for prequalified offers, but a full application will result in a credit inquiry. 
  • Data suggests that Chase uses Experian for credit checks.
  • Chase typically reports to the credit agencies approximately 3 to 4 days after the closing data on the card statement. 
  • Chase representatives are available through the Chase mobile app or by calling 1-800-935-9935.

Chase Ratings

How does the Ink Business Visa Signature stack up? Here are a selection of expert reviews for the card, as well as an overview of JP Morgan Chase as a bank:

Should You Apply for the Ink Business Preferred® Credit Card?

The Ink Business Preferred® Credit Card differs from other Ink products because it is a travel rewards card, not a cash back card. That said, the card still offers excellent business tools and complimentary employee cards.

Where it differs from the other Ink Business Cards is the annual fee ($95) and the considerable spend requirements for the signup bonus of 100,000 points. However, this spend probably won’t be a huge concern for larger companies or those who travel often. And, since Chase Ultimate Rewards are so valuable, the $8,000 spent may well be worth it for those who regularly fly for work. The additional 25% value on Ultimate Rewards travel bookings is another great perk.

Remember that Chase Bank has stringent credit score requirements with their credit cards. Chase does not offer secured credit cards for personal or small business use. The Ink Visa requires good or excellent credit scores for approval. Check your business’ credit score – if it needs boosting, consider applying for the Ink Business Preferred® with your credit score.    

Overall, the Ink Business Preferred® Credit Card is an excellent option for a company that often travels and uses its credit card.

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