Chase Ink Business Preferred Review 2024: Top Choice for Small Business Rewards
Discover why the Chase Ink Business Preferred stands out among business credit cards.
The Chase Ink Business Preferred Credit Card is designed to meet the needs of small business owners looking for a powerful rewards program. With substantial bonus points, high rewards in key spending categories, and a range of perks, this card is a top contender for anyone wanting to maximize their business expenses. Let’s dive into a comprehensive review of this highly regarded business card.
Why Choose the Chase Ink Business Preferred?
The Chase Ink Business Preferred offers an impressive suite of benefits for business owners. Here’s a snapshot:
- Big Sign-Up Bonus: Earn 120,000 bonus points after spending $8,000 in the first three months.
- High Rewards Rate: Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each year.
- Travel Perks: Points are worth 25% more when redeemed for travel through Chase Travel℠.
Key Features of Chase Ink Business Preferred
Substantial Sign-Up Bonus
One of the standout features of the Chase Ink Business Preferred is its generous sign-up bonus. New cardholders can earn 120,000 bonus points after spending $8,000 on purchases in the first three months from account opening. This bonus translates to $1,200 in cash back or $1,500 toward travel when redeemed through Chase Travel℠.
Reward Points Structure
- 3x Points: Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year.
- 1x Point: Earn 1 point per $1 on all other purchases with no limit on how much you can earn.
These categories include:
- Travel
- Shipping purchases
- Advertising purchases made with social media sites and search engines
- Internet, cable, and phone services
Redemption Options
Points can be redeemed in various ways:
- Travel: Points are worth 1.25 cents each when redeemed for travel through Chase Travel℠.
- Transfer Partners: Transfer points at a 1:1 ratio to popular airline and hotel loyalty programs, such as United MileagePlus, World of Hyatt, and Marriott Bonvoy.
- Cash Back and More: Redeem points for cash back, gift cards, and other options.
Additional Benefits
Purchase Protection
Your purchases are covered for 120 days against damage or theft, up to $10,000 per claim and $50,000 per account.
Travel and Emergency Assistance
Get 24/7 travel and emergency assistance services, including medical and legal referrals, emergency transportation, and more.
Employee Cards at No Additional Cost
You can get additional cards for your employees at no extra cost and set individual spending limits to help manage your business expenses.
Pros and Cons
| Pros | Cons |
|---|---|
| High sign-up bonus | Annual fee of $95 |
| 3x points on travel and select business categories | No intro APR offer |
| Extensive travel and purchase protections | Bonus categories may not suit all businesses |
| Points transfer to numerous travel partners |
FAQ Section
Q: What rewards does the Chase Ink Business Preferred offer?
A: The card offers 3 points per $1 on travel and select business categories up to $150,000 annually, and 1 point per $1 on all other purchases.
Q: Is the Chase Ink Business Preferred a travel credit card?
A: Yes, it is highly regarded as a travel credit card due to its travel-related benefits and the increased value of points when redeemed for travel through Chase Travel℠.
Q: How much are points worth on the Chase Ink Business Preferred?
A: Points are worth 1.25 cents each when redeemed for travel through Chase Travel℠. They can also be transferred to airline and hotel partners, potentially increasing their value.
Q: Does the Chase Ink Business Preferred have a fee?
A: Yes, the card has an annual fee of $95.
Q: What’s the difference between Chase Ink Preferred and Chase Ink Cash?
A: While both cards offer valuable rewards, the Ink Preferred focuses on travel and business spending categories, whereas the Ink Cash focuses more on everyday business expenses with no annual fee.
Q: Who can get the Chase Ink Business Preferred?
A: Any business owner with a good personal credit score (typically 690 or higher) can apply, including those with side businesses or freelancers.
Q: Can I combine Ink Preferred rewards with other Chase cards?
A: Yes, you can combine points from multiple Chase cards, allowing for flexible and potentially more valuable redemptions.
Comparison with Other Cards
Here’s how the Chase Ink Business Preferred compares with other popular business credit cards:
| Card | Annual Fee | Sign-Up Bonus | Rewards Rate | Recommended Credit Score |
|---|---|---|---|---|
| Chase Ink Business Preferred | $95 | 120,000 points | 3x points on travel and select business categories, 1x on other purchases | 690-850 |
| American Express® Business Gold Card | $375 | 70,000 points | 4x points on top 2 spending categories each month, 1x on other purchases | 690-850 |
| Capital One Spark Miles for Business | $95 (waived first year) | 50,000 miles | 2 miles per $1 on all purchases | 690-850 |
Final Thoughts
The Chase Ink Business Preferred Credit Card offers substantial value for small business owners. With its generous sign-up bonus, high rewards rate in key categories, and flexible redemption options, it’s a strong contender for those looking to maximize their business expenses.
For more information, visit the official Chase Ink Business Preferred Credit Card page.
Related Articles
This review highlights the strengths and benefits of the Chase Ink Business Preferred, making it easier for business owners to make an informed decision. Whether you’re looking to earn rewards on everyday expenses or want robust travel benefits, this card has a lot to offer.
