Before you can decide if the Ink Business Preferred® credit card is worth it, you should take a closer look at its earn rate, dynamic bonus categories, and cardholder benefits. You should also consider this card’s generous sign-up bonus, which is better than the bonuses offered by comparable business cards on the market today.
That said, we consider this card a solid option for small businesses looking to earn travel rewards on business purchases. In fact, he recently made our list of best business credit cards for travel– primarily due to the points flexibility offered by the Chase Ultimate Rewards program.
If you’re stuck trying to decide between this business credit card and another, here’s a rundown of everything you need to know about Ink Business Preferred.
Chase Ink Business Preferred Highlights
- Awards: 3X points on the first $150,000 spent on travel and certain business categories each account anniversary year (then 1X points); 1X points on all other purchases
- Sign-up bonuses: 100,000 bonus points after spending $15,000 on purchases within the first three months of account opening
- Annual subscription : $95
- APR presentation: N / A
- Variable APR: 17.49% to 22.49%
When is Ink Business Preferred worth it?
The Chase Ink Business Preferred can easily be worth it if you spend a lot each year in its bonus categories, which include shipping purchases, internet, cable and phone services, advertising purchases with social media sites and search engines and travel.
Cardholders can earn 3X points on up to $150,000 spent in these categories each cardholder year, then 1X points. If you manage to max spend in these categories, you have the opportunity to earn 450,000 Chase Ultimate Rewards points, worth a minimum of $4,500 each year you own the card.
chase credit cards are also known for their valuable sign-up bonuses, and Ink Business Preferred is no exception. The current Ink Business Preferred welcome offer awards 100,000 bonus points to cardholders who spend $15,000 within the first three months of account opening. This bonus is worth $1,000 in gift cards or statement credits (if you prefer simple redemptions), but you can also redeem for $1,250 in travel purchases through the Chase the Ultimate Rewards gate.
Even better, Ink Business Preferred lets you transfer points to Chase airline and hotel partners at a transfer rate of 1:1. This means you can turn your 100,000 Chase Ultimate Rewards points into as many points or miles with programs like British Airways, Southwest Rapid Rewards, United MileagePlus, Marriott Bonvoy or World of Hyatt.
Other reasons to get this card include its valuable benefits, including primary car rental coverage when renting a car for business purposes, trip cancellation and interruption insurance, protection against damage or theft , extended warranties and even cell phone protection.
With all these details in mind, the Favorite Ink Company can easily be worth it for anyone with business spend in the 3X categories of the card, as well as anyone looking to earn a generous sign-up bonus upfront. Frequent flyers who want to earn flex points can also benefit from this card. After all, points earned can be used to book travel through Chase with 25% more value or transferred to Chase’s airline and hotel partners.
When is Ink Business Preferred not worth it?
If your business doesn’t typically spend $15,000 in three months, it may be difficult to make the purchases necessary to earn the Ink Business Preferred Welcome Bonus, meaning you may have to go over budget to earn the points. , or you’ll have left the valuable sign-up offer on the table. Likewise, small businesses that don’t spend a lot of money on business travel, shipping, or advertising on social media and search engines may not earn as many points with Ink Business Preferred as with another. business credit card.
If your business expenses don’t fit into the Ink Business Preferred card bonus categories, but you still want a Chase business credit cardthe Ink Business Unlimited® Credit Card offers a flat 1.5% cash back on all purchases with no annual fee. New cardholders can also earn a $750 cash bonus after spending just $7,500 on purchases within three months of account opening. However, your points will not transfer to airlines and hotels as they do with Ink Business Preferred.
If your business is increasing its budget and investing a lot of money in travel, online advertising, and other big-ticket items, you might also consider flexible business cards from other programs. For instance, The Business Platinum Card® from American Express comes with top-tier perks like $200 annual airline credit, free airport lounge access, elite status perks, free hotel nights and more – and that’s before until you start adding up all the Membership Rewards you could win. Although a $695 annual fee applies, this dynamic business credit card also offers 120,000 Membership Rewards points after spending $15,000 on qualifying purchases within the first three months of card membership.
Should you get the Ink Business Preferred?
Ultimately, it’s up to you to decide if the Chase Ink Business Preferred is worth it. Take a look at your current spending and work goals and ask yourself if this card can help you. In the meantime, spend some time comparing other business credit cards, including cards from other issuers, to make sure you’ve found the right fit.
The bottom line
The Favorite Ink Company is a great choice for small business owners who want to save money on travel, as well as those who want to earn money on the card amazing sign up bonus before he left. Not only are the rewards generous, but Ink Business Preferred Benefits can provide additional financial protections each time you make a purchase or take a trip paid for with your card.
If you’re trying to decide if the Ink Business Preferred card is right for you, ask yourself what kind of benefits you expect to get from a business credit card and how much money you expect to charge the card each month. You may decide that the Chase Ink Business Preferred card is perfect or you may decide to look for another option.