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We have seen small-business credit cards become increasingly attractive in recent years as credit card issuers try to offer products that are tailored to the needs of small businesses.
Review of the Ink Business Preferred Credit Card. It continues to be one among the most rewarding business cards. You won't find another business card that offers such a generous welcome bonus, generous returns on your spending, useful perks, and a low annual fee.
These are the eight reasons why I consider it to be the best business credit card and best Chase card for small businesses.
1. 100K Ultimate Rewards points
Ink Business Preferred Card offers a staggering 100,000 Ultimate Rewards points for purchases made within the first three-months.
Ultimate Rewards points have a value of 1.7c each. So, to me, 100,000 Ultimate rewards points are worth $1,700. This is an incredible reward and the best business credit card welcome bonus.
Transfer Ultimate Rewards points from Singapore KrisFlyer for redeemable Suites
2. 3.x Points Bonus Categories
Ink Business Preferred Card gives triple points in a variety of useful categories where your business might spend quite a lot, such as:
Travel
Shipments
Internet, phone, and cable services
Advertisement purchases with search engines and social media sites
Triple points are earned on the first $150,000 in combined purchases in these categories in each account anniversary year. Chase doesn't use a January 1 to December 31 calendar. Instead, it is based on your year.
Based on my points value, this is like getting a return on your spending in these categories of up to 5.1%. This is extraordinary.
Get 3x points for travel purchases made with Ink Preferred
3. 3.
The Ink Business Preferred Card has one advantage that stands out. It is especially valuable considering how expensive smartphones have become.
Ink Preferred provides coverage up to $600 per claim for cell phone theft or damage. This protection is available to you and your employees when you pay your Ink Preferred. There is a $100 deductible for each claim. You may only have three claims per 12 months.
You'll also earn triple points if you charge your phone to the Ink Preferred.
The Ink Preferred offers great protection for your cell phone
4. 4.
Ink Business Preferred Card provides primary collision damage waiver coverage for rental vehicles of all types in most countries.
Chase cards do not exclude any country from coverage. However, the benefits guide notes that coverage is not available in areas where it is prohibited or violated by law.
Contact the benefits team at (877)631-0919. To confirm coverage for a specific trip, call them at (877)631-0919. Global coverage is primary for renting for business purposes. International coverage is primary for personal rentals. In the United States, coverage for personal rentals is secondary.
You can earn triple points when renting a car by charging it to Ink Preferred. This is because this is travel.
To get coverage, use the Ink Preferred for car rentals
5. 5.
Ink Preferred provides additional benefits for travel and purchase, beyond the car rental and cell phone coverage.
Trip cancellation and interruption coverage up to $5,000
Extended warranty protection for eligible purchases up to one year
For more details, you will need to consult the cardmember agreement. However, this can be very valuable for purchasing.
For instance, I love the trip delay coverage. You can get $500 reimbursement for your hotel, meals, and transportation if your trip is delayed more than 12 hours. Only you will need to pay the travel cost with your card or Ultimate Rewards points.
Ink Preferred offers valuable travel coverage
6. 6.
The Ink Business Preferred Card charges a $95 annual fee. This is especially reasonable when you consider all the perks, bonuses, and other benefits.
For comparison, the American Express Business Gold Card review is also a great choice. It's the Amex card with the most bonus categories. The $295 annual fee (Rates and Fees) for that card is more than three times the cost.
7. Flexible Travel Rewards
The Ink Business Prepaid Card earns Ultimate Rewards Points, which are some of the most valuable points currencies.
Ultimate Rewards points can easily be transferred in a 1:1 ratio to more than a dozen loyalty programs including 11 airline programs and 3 hotel programs.
Airline Partners Hotel Partner Aer Lingus AerClub IHG Reward Air Canada Aeroplan Marriott Bonvoy Air France–KLM Flying Blue World of Hyatt British Airways Executive Club Emirates Skywards Iberia Plus JetBlue TrueBlue Singapore KrisFlyer Southwest Swift Rewards United MileagePlus Virgin Atlantic FlyingClub Chur Ultimate Rewards Transfer Partners
Maximizing these programs can bring you so much benefit. You could transfer 30,000 points from World of Hyatt to get a night free at Ventana Big Sur. This Alila property is often $2,000+ per night.
Ventana Big Sur: Redeem your Ultimate Rewards Points
You could also transfer miles to Ultimate Rewards partners to redeem for ANA's first class.
Use your Ultimate Rewards points to redeem for ANA First Class
The best thing about Ultimate Rewards points is the fact that they can be used to make a purchase on a trip. Ultimate Rewards points can be redeemed for 1.25 cents per Ultimate Rewards point towards the purchase of travel through the Ultimate Rewards website.
You can redeem your Ultimate Rewards points for 1.5 cents each when you purchase the Chase Sapphire Reserve Ink Preferred. This will give you more value.
8. 4. Pool Points with Four Free Annual Fee Cards
The Ink Business Preferred Card and Chase Sapphire Preferred Card (review) are both valuable, but they also make other cards more desirable.
Chase offers four amazing cards with no annual fees that will help you earn more Ultimate Reward points. I'm referring to the:
You can earn Ultimate Rewards points by having a card like the InkPreferred. These points are worth one penny and can be converted into Ultimate Rewards points. I value them at 1.7 cents each. This card can make other cards more valuable.
The Ink Business Preferred can be used as a hub Chase Ultimate Reward card
Approval for Ink Preference
There are some restrictions that must be observed if you wish to be approved for the Chase Ink Business Card.
Chases 5/24 rule applies to the Ink Preferred. This means that you won't typically be approved for the card if there have been five or more new cards accounts opened in the last 24 months. Many business card applications don't count towards this limit.
The Ink Preferred is available to you if your Ink Unlimited or Ink Cash are in good standing.
There is no limit on how many Chase credit card you can get, but there are often limits to the total credit Chase will give you.
In general, I suggest that you only apply for one Chase business credit card per 30 days.
Chase Ink Preferred Bottomline
There are many great business cards available. The Ink Business Preferred Card is the best in terms of business cards. It offers 100K bonus points (the highest welcome bonus of any business credit-card), a reasonable $95 annual fee and 3x bonus points in selected categories. There are also great coverage on travel and car rentals.
The Ink Business Preferred card is also a great option to make Ultimate Rewards points a hub, especially to increase the value of other cards with no annual fees. If you are able to spend the minimum amount, I recommend the Ink Business Preferred.
What has your experience with Ink Business Preferred?
These links will take you to the fees and rates for American Express Cards. These are: American Express Business Card (Rates and Fees).
