Welcome Bonus and Annual Fee
The Ink Business Preferred Credit Card offers a substantial welcome bonus of 90,000 Ultimate Rewards points when you spend $8,000 on purchases within the first three months of account opening. Based on The Points Guy's July 2024 valuation, these points could be worth about $1,845 in travel rewards.
The card comes with a $95 annual fee. While this might give you pause, the welcome bonus alone is worth nearly 20 times the fee. Even without yearly bonuses after the first year, the card's earning potential and benefits make a strong case for long-term use.
Consider whether this upfront reward justifies the modest annual fee. For many business owners, the answer is yes.
Limited-time offer: Earn 120,000 bonus points when you spend $8,000 in the first three months from account opening – an additional 20,000 points on top of the standard offer!
Earning and Redeeming Points
The Ink Business Preferred Credit Card offers 3 points per dollar on the first $150,000 spent annually across key business categories, including:
- Travel
- Shipping
- Internet, cable, and phone services
- Advertising on social media sites and search engines
All other purchases earn 1 point per dollar.
Maximizing these categories can lead to significant rewards. Reaching the $150,000 cap in bonus categories would earn you 450,000 points, potentially worth $9,225 according to The Points Guy's valuations.
When it comes to redeeming points, you have options:
- Book travel through Chase Ultimate Rewards at 1.25 cents per point
- Transfer points to Chase's 14 airline and hotel partners at a 1:1 ratio
Transferring points to partners like United MileagePlus or World of Hyatt can often yield the highest value, potentially unlocking luxury travel experiences that might otherwise be out of reach.
Consider your redemption strategy carefully. Will you use points at face value, or leverage transfer partners to maximize their worth? Your choices can transform ordinary points into extraordinary travel experiences.
Card Benefits and Protections
The Ink Business Preferred Credit Card offers a range of benefits and protections that enhance its value beyond point earning:
- Purchase Protection: Covers new items against damage or theft for up to 120 days, up to $10,000 per claim and $50,000 per account.
- Cell Phone Insurance: Provides up to $1,000 per claim for theft or damage, with a maximum of three claims per year and a $100 deductible. You must pay your cell phone bill with the card to be eligible.
- Trip Cancellation/Interruption Insurance: Reimburses up to $5,000 per trip for non-refundable travel expenses if your trip is cancelled or cut short due to covered reasons like severe weather or illness.
- Primary Rental Car Coverage: Covers theft and damage to rental cars, potentially saving you money on rental company insurance fees.
These protections make the Ink Business Preferred more than just a rewards card – it's a valuable tool for safeguarding your business purchases and travel investments.
Comparisons and Alternatives
When considering the Ink Business Preferred Credit Card, it's worth comparing it to other options:
| Card | Key Features |
|---|---|
| Chase Ink Business Cash® Credit Card | No annual fee, 5% cashback on office supplies and telecommunication services (up to $25,000 spent annually) |
| American Express® Business Gold Card | 4 points per dollar in your top two spending categories each billing cycle, higher annual fee |
| Capital One Spark Cash Plus Card | Unlimited 2% cashback on all purchases, no annual fee for the first year |
| Chase Sapphire Reserve® | Not a business card, but pairing with Ink Business Preferred could maximize travel rewards |
The best choice depends on your specific business needs and spending patterns. Consider how each card fits into your overall financial strategy and which combination of cards might work best for you.
The Ink Business Preferred Credit Card offers a compelling mix of rewards, benefits, and protections that could make it a valuable addition to your business toolkit. As you weigh your options, consider how this card's features align with your business expenses and financial goals.
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1. Chase. Ink Business Preferred Credit Card. 2024.
2. The Points Guy. Chase Ink Business Preferred Credit Card review. July 2024.
3. NerdWallet. Chase Ink Business Preferred® Credit Card review. 2024.