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The Chase Ink Business Preferred is offering 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That’s $1,250 toward travel when redeemed through Chase Ultimate Rewards.
If traveling isn’t what you are looking for you can definitely redeem your bonus points for other items such as cash back, gift cards, etc through the rewards portal.
If the rewards categories do not interest you, perhaps a flat rate cash back card like the Ink Business Unlimited card is more suitable.
Editor’s Note: You may not know this, but if you ever sell something on eBay, Craigslist, or do any freelance work, your business is called sole proprietorship. Simply use your name as business ID and Social Security number as tax ID on your application to apply.
* The Chase Ink Business Preferred is issued by Chase Bank. They also offer great sign-up bonuses for their Checking/Savings accounts. *
|Chase Ink Business Cash Credit Card||Chase Ink Business Unlimited Credit Card||Chase Ink Business Preferred Credit Card|
|Earns Ultimate Rewards Points?||Yes||Yes||Yes|
|Travel Redemption Rate Through Chase||1 Point = 1 Cent||1 Point = 1 Cent||1 Point = 1.25 Cents|
|1:1 Point Transfer To Partners?||No||No||Yes|
The following cards have a higher travel redemption rate through Chase:
- Chase Sapphire Reserve: 1 point = 1.5 cents (e.g. 50,000 points holds a $750 value)
- Chase Ink Business Preferred: 1 point = 1.25 cents (e.g. 50,000 points hold a $625 value)
- Chase Sapphire Preferred: 1 point = 1.25 cents (e.g. 50,000 points hold a $625 value)
- Another perk of these cards – you have a 1:1 points transfer capability to Chase’s travel partners to extend the value of your UR points.
You are able to combine your UR points and relocate your points to a card with the higher travel redemption rate. Those earned points will then receive the highest point value.
- For example, the 50,000 UR points with the Chase Sapphire Preferred card is worth $625 in travel when you redeem through the Chase Ultimate Rewards portal. If you transfer those points to the Chase Sapphire Reserve card, not it will be worth $750 in travel.
Now, if you transfer those UR points to one of Chase’s travel partners, you could potentially receive addition value of up to 2 cents per point with our valuation. This value is dependent on the travel partner in addition to the booking details. With that being said, try different booking scenarios to see where your points will get the most value.
This method will help you find a strategy that helps maximize the value of your rewards – whether you have a personal or business card or both.
|Chase Business Complete BankingSM||$300 Cash||Review|
|Chase Total Checking®||$225 Cash||Review|
|Chase Secure BankingSM||$100 Cash||Review|
Table of Contents
- 1 Chase Ink Business Preferred Card Summary
- 2 Editor’s Alternate Pick
- 3 Ink Business Preferred Credit Card Bonus Points
- 4 What are Ultimate Rewards Points Worth?
- 5 Earning Ultimate Reward Points
- 6 Business Benefits
- 7 Chase Ink Business Preferred Benefits
- 8 Chase Ink Business Preferred Pitfalls
- 9 Ink Business Preferred Credit Card Top Features
- 10 Chase Business Checking Option
- 11 Bottom Line
- 12 Who’s the Competition?
Chase Ink Business Preferred Card Summary
|Bonus Available||Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening.|
|Ongoing Rewards/Benefits||Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping, internet, cable, phone, social media/search engine advertising each year.
Employee cards at no additional cost.
|Foreign Transaction Fees||None|
- Sign-up bonus
- 1:1 point transfer
- Free employee cards
- No foreign transaction fees
- Annual fee
- Good-Excellent credit needed to qualify
- Capped bonus categories
Editor’s Alternate Pick
The Capital One Spark Miles for Business offers a one-time bonus of 50,000 miles - equal to $500 in travel - once you spend $4,500 on purchases within the first 3 months from account opening.
Your miles won't expire for the life of the account, and there are no categories to limit where or what you buy and you can earn 2 miles per $1 on every purchase. And 5X miles on hotel and rental car bookings through Capital One TravelSM using a Spark Miles card
There is an annual fee of $95, however, there is a $0 intro annual fee for the first year. Enjoy no foreign transaction fees and fly on any airline, anytime, with no blackout dates or seat restrictions.
Ink Business Preferred Credit Card
Make use of the 100,000 Ultimate Rewards bonus points offer, it’s quite a good bonus compared to the competition.
To qualify for the offer, you’ll need to charge at least $5,000 in purchases within the first three months of opening your account.
|• Plastiq - Using Plastiq allows you to pay for your personal expenses such as rent, tuition, mortgage, auto lease etc. Although they charge a 2.5% processing fee for using your credit card, this will contribute to the card bonus that you will receive. There is also a referral program that allows you to earn "Free-Free Dollars" that goes towards processing fees as well.|
|• Funding Checking Accounts - When it comes to funding a checking account, opening your initial deposit with a credit card is the usual way to go about it. However, if you want to have more opportunities, you should open a checking account that offers a sign-up bonus. This allows you to work towards bonuses from not one but two different sources instead. Banks like Chase, Huntington Bank, TD Bank and BBVA offers credit card funding, and for your opening deposit, you can often fund anywhere from $50-$1000 with a credit card, depending on the bank.|
|• Gift Card Purchases With Using a Credit Card - Another way to acquire the bonus is using your credit card to purchase gift cards. Buying a a gift card or an individual merchant card typically do not require a purchase fee and are used towards leisure, so gift cards are ideal. However, gift cards such as a Visa or American Express do incur purchase fees because they can be spent anywhere, but gift cards that are specifically for a certain online shopping site such as Amazon or eBay don't.|
|As for a Citi Credit Card, you should call customer service and ask them to lower your Cash Advance limit to $0 before making any purchases because Citi tends to read gift card purchases as a Cash Advance.
Ideally, you should do this with any card just to be safe. Lastly, there is such thing as a discounted gift card which can be purchased on Raise or eBay. If you use a credit card often for everyday purchases, it can build your credit score that will contribute towards paying for things such as bills and taxes.
What are Ultimate Rewards Points Worth?
The value of your points depends on how you use them, the value of each Ultimate Rewards point is around $0.02.
You can redeem your Ultimate Rewards points for:
- Cashback: As statement credit to apply toward your balance, or directly deposited to most United States checking and savings accounts.
- Travel: For premium vacation packages, cruises or fly any class on most major airlines. There are no restrictions or blackout dates on airfare booked through Chase Ultimate Rewards.
- Gift cards: Over 70 gift card options available including Home Depot, iTunes, Amazon and Staples.
- Amazon items: Instantly redeem your points to pay for all or part of your eligible Amazon order, including tax and shipping.
You can also transfer your points to travel partners at a 1:1 ratio, which is why Ultimate Rewards points can be so valuable.
Ultimate Rewards Airline/Hotel 1:1 Point Transfer Partners
If you don’t want to transfer your points, you can redeem your rewards by booking flights, hotel stays and rental cars through Chase Ultimate Rewards. This will get you $0.0125 per point in value, all other redemption options are worth $0.01 or less.
Earning Ultimate Reward Points
With the Chase Ink Business Preferred card it’s easy to earn points on every single purchase. You can earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, internet, cable and phone services.
As a business card you can also earn 3 points per dollar spent on advertising purchases made with social media sites and search engines on each account anniversary year.
For all other purchases you’ll be able to earn 1 point per $1 with no limit to the amount you can earn! This business credit card keeps getting better and better!
Simply put if you are in an industry that requires a lot of traveling, shipping, and media advertising, you will be able to earn the maximum rewards for your day-to-day operations.
This card is catered towards the generation of businesses where most earning capacity can revolve around internet hosting, social media, and traveling.
I highly recommended this card for those who can earn points faster without straining on their daily activity.
With the Chase Ink Business Preferred, easily add employee cards at no additional cost! For each individual employee card added, you can set the spending limits. Then, you can earn rewards even faster on your card account.
You also have access via your fingertips to your account. So, you’re always in the know about what is going on with your account. The Ink Mobile App will allow you to have control over your account. Plus, the convenience of handling any transaction necessary with your handheld device.
As a new business owner, you can bet there will be times you wished someone had your back. Chase provides you just that, with purchase protection over anything purchased with the Ink Business Preferred and extended warranty protection!
Chase is like the older brother/sister that was always there for you when times were rough. On top of that they provide card holders trip cancellation/trip interruption insurance. This card is like a plethora of safety nets for business travelers.
Lastly, Cell phone protection service allows up to $600 per claim against covered theft or damage for you and your employees. Just make sure they’re listed on your monthly cell phone bill when you pay it with your card.
Chase Ink Business Preferred Benefits
The Chase Ink Business Preferred Card is the go-to card for these reasons:
- A big bonus. Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That’s $1,000 toward travel when you redeem through Chase Ultimate Rewards.
- Earn more points. Earn 3x points on the first $150,000 spent in combined purchases on travel, shipping, Internet, cable and phone services, and advertising on with social media sites and search engines each year. All other purchases earn 1x point with no limit to how much you can earn.
- Travel discounts. Points are worth 25% more when redeeming for travel through Chase Ultimate Rewards. Plus, get 20% off travel redemption, including airfare, hotels, car rentals and cruises.
- Transfer points at a 1:1 ratio to Chase’s airline and hotel transfer partners. If you frequently fly or stay with their partners, the Ink Business Preferred card can earn you free flights and stays fast.
- No foreign transaction fee. By eliminating the 3% foreign transaction fee that many other credit cards charge, the Ink Business Preferred card comes in handy when you’re using it when visiting important suppliers and clients out of the country.
- Free employee cards for no additional fees. The rewards program will apply to those cards as well so you can earn rewards faster. Minimize credit card abuse by setting a spending limit for each employee card. You’ll also be automatically notified whenever an employee makes a purchase.
- Protection benefits. Get travel protection, purchase protection, and cell phone protection with your Ink Business Preferred card.
- Auto rental collision damage waiver. Decline the rental company’s collision insurance and charge the entire rental cost to your card. Receive primary coverage for theft and collision damage for most cars rented for business purposes. Reimbursement is up to the actual cash value of the vehicle.
Chase Ink Business Preferred Pitfalls
You may not like the Chase Ink Business Preferred Card due to these reasons:
- The annual fee. There’s a $95 annual fee. These annual fees are common for rewards cards, such as the Chase Sapphire Preferred Card, but if you’re one of those cardholders who prefer credit cards that don’t have them at all or if you’re not a big spender to justify the annual fee, this may not be the best card for you. Depending on your spending patterns, the annual fee may be fair for all the rewards and benefits you get in return.
- No Introductory APR. The Ink Business Preferred card doesn’t offer an introductory APR offer. This may not be ideal for businesses that haven’t already established a steady cash flow and may need occasional breathing room.
- A balance transfer fee. Many credit cards only charge a 3% balance transfer fee. However, with the Ink Business Preferred card, you’ll pay either $5 or 5% of the amount of each transfer, whichever is greater.
- Bonus categories. It’s a double-edged sword. Depending on what your business is for, the bonus 3x point categories will probably apply to most modern small businesses. All other purchases are worth 1x point. If your business doesn’t spend much on any of these things, you may be better off with a different card.
- Chase operates under the 5/24 rule and this Chase Ink Business Preferred card does fall under that scope.
- This card is great for traveling purchases and rewards but fails to have the common business purchase categories of supply stores.
Ink Business Preferred Credit Card Top Features
Earn 3x Ultimate Rewards points on:
- Travel, including airfare, hotels, rental cars, train tickets & taxis
- Internet, cable & phone services
- Social media & search engine advertising
The bonus categories listed above are capped at the first $150,000 spent in combines purchases each account anniversary year.
Doing the math, you’ll find that you can earn a maximum of 450,00 points from the 3X categories each year. But if redeemed optimally, that’s an annual rewards value of $9,000 in bonus categories alone.
Your employees can make necessary purchases in the name of the business without giving up control of the account. You can set each employee to various spending limits anytime you feel like you need it. This way, your employees’ spending will also help you gain more in cash back.
Make purchases abroad without worrying about foreign transaction fees with the Ink Business Preferred card.
Chase Business Checking Option
The Chase Ink Business Preferred card is one of the best business cards out there by far with such an attractive bonus. Chase definitely stacked incentives on this card with the amount of points you can earn with everyday business purchases.
With this card you have various opportunities to earn up to 3x points. Plus, there’s no limits on how much you can earn.
Who’s the Competition?
The Chase Ink Business Cash Card offers $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening.
You'll earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year, 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, & % cash back on all other card purchases with no limit to the amount you can earn.
This card comes with no annual fee. You'll be able to take advantage of employee cards at no additional cost & the 0% introductory APR for 12 months on purchases.
The Ink Business Unlimited Credit Card offers $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening.
You'll earn an unlimited 1.5% cash back on every purchase made for your business and you'll receive employee cards at no additional cost.
This card carries no annual fee and you'll have the opportunity to take advantage of a 0% introductory APR for 12 months on purchases
The Capital One Spark Cash for Business offers a one-time $500 cash bonus once you spend $4,500 on purchases within 3 months from account opening.
You're able to earn an unlimited 2% cash back could mean thousands of dollars each year going back into your business. Use Spark Cash across all your business spend, with no categories to limit your purchasing.
This card does come with a $95 annual fee, however, there is a $0 intro annual fee for the first year.
The American Express® Business Gold Card offers 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.
You'll earn more rewards: Get 4X Membership Rewards® points on the 2 select categories where your business spent the most each month** (**4X points apply to the first $150,000 in combined purchases from these 2 categories each calendar year.*). In addition, you'll get an airline bonus; 25% points back after you use points for all or part of an eligible flight booked with Amex Travel, up to 250,000 points back per calendar year.*
This card does carry a $295 annual fee, but no foreign transaction fees. (See Rates & Fees) *Terms Apply.
The The Business Platinum Card® from American Express has a welcome offer of 100,000 Membership Rewards points after you spend $15,000 on eligible purchases within the first 3 months of Card Membership.
You'll also earn 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com. In addition, you'll get 50% more Membership Rewards® points. That's 1.5 points per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.
If you use your Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, you can get 35% of the points back, up to 500,000 bonus points per calendar year.
PAY OVER TIME OPTION: A flexible payment option to help manage cash flow on purchases of $100 or more.
This card does come with a $595 annual fee. (See Rates & Fees) Now, you can earn up to $200 in statement credits annually by getting up to $100 semi-annually for U.S. purchases with Dell. Terms apply.
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