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Chase Ink Business Preferred Review: A Business Card With Top-Notch Travel Rewards

Review Updated
Lyle Daly
By: Lyle Daly
Lyle Daly
Lyle Daly
Writer

Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.

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Nathan Alderman has worked with The Motley Fool since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As The Ascent's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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The Ink Business Preferred® Credit Card is part of Chase's Ultimate Rewards program, allowing small business owners and entrepreneurs to earn travel rewards on all their company expenses. There's a lot to like about this card, and it's a fantastic alternative to the more expensive premium credit cards. Dive into the pros and cons in this Ink Business Preferred® Credit Card review -- so you can find out if it's right for you.

Ratings Methodology

Full Chase Ink Business Preferred review

This credit card is a good fit for: Business owners with high spending in advertising, shipping, and travel, as well as internet, cable, and phone services.

Top perks

This Chase business credit card has several great benefits, including excellent bonus offers.

100,000 bonus points

You earn 100,000 bonus points by spending $8,000 on purchases within the first 3 months of having the card. That's one of the biggest sign-up bonuses you'll find. It's worth $1,250 in travel through Chase's travel portal, and potentially even more if you transfer your points.

SEE MORE GREAT BONUSES: Best Sign-Up Bonus Credit Cards

Impressive rewards program

This card earns 3 points per $1 on the first $150,000 you spend per account anniversary year on the following expenses:

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

It also earns 5 points per $1 on Lyft rides through March 2025. Other purchases earn 1 point per $1.

COMPARE TOP CARD OPTIONS: Best Business Credit Cards

High-value redemptions

As part of the Chase Ultimate Rewards program, this business card offers great ways to redeem your points. You can transfer points to any of Chase's airline and hotel partners to make an award booking.

Alternatively, you can use points to book cash travel purchases through the Chase Travel portal. You get 25% more value per point this way over the standard cash back value ($0.01 per point). That means you get $0.0125 per point.

LEARN MORE: Definitive Guide to Chase Ultimate Rewards Points

Travel and purchase protections

Protections this card offers include:

  • Trip cancellation and interruption insurance
  • Auto rental collision damage waiver
  • Purchase protection against damage or theft
  • Extended warranty protection
  • Cellphone insurance

That last coverage, cellphone insurance, is an underrated perk that many credit cards don't have. You just need to pay your monthly cellphone bill with your Ink Business Preferred® Credit Card for this protection to apply. Even better, it also covers any employees listed on your bill.

Free employee cards

If you have any employees who need company credit cards, you can make them authorized users and get cards for them free of charge. Their cards will have the exact same benefits and rewards rate.

LEARN MORE: How to Add an Authorized User With Chase

Author's personal experience

This may be my favorite business credit card. The welcome offer is incredible, especially considering how affordable this card's annual fee is. It also has a great mix of bonus categories, including travel as a whole. And travel is where the Ink Business Preferred® Credit Card shines. I love being able to transfer points to Chase's travel partners -- I've used this option to save a ton of money on airfare with United, Air France, and Iberia, as well as hotel stays with Hyatt.

What could be improved

The Ink Business Preferred® Credit Card has a couple downsides to know about.

Annual fee

This Chase credit card has an annual fee of $95. Considering the perks it offers, you can easily come out ahead in terms of value. See if you'll be able to use those benefits to figure out whether the card is a good deal.

The sign-up bonus alone is worth $1,250 toward travel. Cellphone insurance for you and any employees with company phones can save you $100 per year or more. And if your business has high spending in this card's bonus categories, the extra points you earn could save you hundreds to thousands of dollars every year.

READ MORE: Is Your Credit Card Annual Fee Worth It?

No intro APR offer

Some business credit cards include a 0% intro APR on purchases, which is nice if you want to finance big expenses. The Ink Business Preferred® Credit Card doesn't have this kind of offer. It only makes sense to apply for this card if you'll be able to pay your bill in full every month and avoid interest charges.

High spending minimum for sign-up bonus

The sign-up bonus is incredible, but it does come with that steep spending minimum in a relatively short amount of time. If your business doesn't spend at least $2,667 per month, then the Ink Business Preferred® Credit Card probably wouldn't be a good choice. In that case, check out other credit card reviews to find one with a lower spending minimum on its welcome bonus.

MORE OPTIONS: Best Business Credit Cards for Startups

Find the best credit card for your needs

Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.

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Suggested credit score

A FICO® Score of 670 or higher is suggested to apply for the Ink Business Preferred® Credit Card. Cardholders usually have good credit or excellent credit. However, your credit score isn't the only important factor, and it doesn't guarantee an approval or a denial.

This is a business credit card, but businesses of all sizes and types qualify. You could get it with a traditional small business or as a freelancer.

Before you apply, make sure you understand Chase's 5/24 rule. Chase generally rejects all applicants who have already opened five or more credit cards within the previous 24 months.

LEARN MORE: A Guide to Chase's 5/24 Rule

The Chase Ink Business Preferred is right for you if:

You want a business credit card with ample bonus opportunities that costs under $100 per year. Here are a few good signs the Ink Business Preferred® Credit Card could be a winner for you:

  • You have high spending in its bonus categories (travel, shipping, social media and search engine advertising, and internet, cable, and phone services).
  • You want to earn flexible travel points with a variety of redemption options.
  • You're looking for a big sign-up bonus -- and you plan to spend enough to earn it.

Assuming you spend enough to get the sign-up bonus, this card deserves a place near the top of your list. With a wide range of benefits and a reasonable annual fee, it's not just a great business card, it's right up there with the very best credit cards that we've found. Anyone interested in a travel rewards card should give the Ink Business Preferred® Credit Card a look.

Our credit card methodology

At The Motley Fool Ascent, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how The Ascent rates credit cards.

    • https://creditcards.chase.com/business-credit-cards/ink/business-preferred
    • https://creditcards.chase.com/business-credit-cards/ink/cash
    • https://creditcards.chase.com/business-credit-cards/ink/unlimited
    • https://www.capitalone.com/small-business/credit-cards/spark-miles/

FAQs

  • The minimum starting credit limit for the Ink Business Preferred® Credit Card is $5,000. Credit limits depend on a cardholder's income and credit history, and they can range from $5,000 to over $20,000. Chase may request additional information for a credit line of more than $25,000.

  • No, the Ink Business Preferred® Credit Card does not charge a foreign transaction fee.

  • This card is harder to get than most Chase credit cards. It's aimed at applicants with good or excellent credit, and Chase tends to be more selective about approvals for its business credit cards. If you have a FICO® Score of at least 670, then you have a good chance of approval.