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Ink Business Preferred Credit Card Review

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This article was last updated Aug 13, 2018, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

Customers the card is best for

The Ink Business Preferred℠ Credit Card rewards businesses that frequently travel via a 25% redemption bonus and higher rewards rate on travel purchases when booked through the Ultimate Rewards portal. This card is also a good option for businesses that spend in typical categories such as internet, cable and phone services, shipping purchases, and advertising purchases made with social media sites and search engines, as you’ll earn a higher rate on these purchases.

  • Earn 80,000 bonus points

  • Earn 3 points per $1 in select business categories

  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards

Highlights
  • 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 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee

See additional details for Ink Business Preferred℠ Credit Card

More Info

However, this card isn’t made for businesses looking to take advantage of an introductory 0% APR period. There is no 0% intro APR period for this card, so if you want to make purchases and forgo interest payments, look to other business cards. The Ink Business Cash℠ Credit Card is also from Chase and offers 0% for 12 Months on purchases, then 15.24% - 21.24% Variable APR applies.

Where this card stands out in its category

This card offers a unique redemption bonus where points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 towards travel. This is a great way for businesses that travel frequently to earn more rewards. In addition, points can be transferred to leading frequent flyer programs on a 1:1 rate, allowing you flexibility when redeeming.

Where this card falls short in its category

The Ink Business Preferred℠ Credit Card doesn’t offer a 0% intro APR period. This means purchases that are past due will accrue interest immediately. Competitors offer cards with 0% intro periods that can save you money for up to 15 months. This card also has a $95 annual fee, and although many business cards have annual fees, you can find cards without fees.

Additional card benefits

The Ink Business Preferred℠ Credit Card offers numerous additional card benefits:

  • 1:1 point transfer: You can transfer points to leading frequent travel programs at a 1:1 rate.
  • 25% more value: When you redeem points for travel via Chase Ultimate Rewards®, they are worth 25% more. For example, 80,000 points are worth $1,000 toward travel.
  • Free employee cards: Employee cards are free and you have the ability to implement spending limits to keep track of purchases.
  • Cellphone protection: Dropped your phone? You can get up to $600 per claim in cellphone protection against damage or theft for you and your employees when you pay your bill with your card.*
  • Trip cancellation/trip interruption insurance: You may be reimbursed up to $5,000 per trip for eligible expenses if your trip is canceled or cut short by select covered situations.*
  • Travel and emergency assistance services: If any issues arise while traveling, the benefits administrator is available for legal, medical or other assistance. (You will be responsible for the cost of any goods or services obtained.)*
  • Roadside dispatch: Any issues with you car can be directed to 1-800-847-2869 and help will be dispatched. Eligible issues include towing, jumpstarts, tire changes and more. Roadside service fees will be provided when you call and will be billed to your card.*
  • Auto rental collision damage waiver: If you decline the rental company’s collision insurance and charge the entire rental cost to your card, and later are a victim of theft or collision damage, you may be reimbursed up to the actual cash value of the vehicle. This applies to most cars in the U.S. and abroad.*

*Restrictions, limitations and exclusions apply.

How to use it most effectively

To get the most value out of the Ink Business Preferred℠ Credit Card, use it for all business spending. It’s also a good idea to take out employee cards as needed since purchases made on those cards will also earn rewards. Remember that as the account owner you are liable for all charges made to your account, including employee spending. As a precaution, you can establish individual spending limits for each employee.

To get the most value for your points, redeem for travel via Chase Ultimate Rewards®. This makes points worth 25% more. Also, make sure you meet the requirements so you can earn the signup bonus: Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.

Rewards breakdown

The Ink Business Preferred℠ Credit Card earns you points on business spending. Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.

You can use your points to redeem for cash through an account statement credit or electronic deposit into an eligible checking or savings account, for gift cards or for travel. When you use points to redeem for cash and gift cards, each point is worth $0.01, which means that 100 points equals $1 in redemption value.

Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®. So one point is equal to $.0125, which means that 100 points is worth $1.25 in redemption value. You can also transfer points to leading frequent travel programs at a 1:1 rate.

There is a signup bonus: Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.

Compare it with the Ink Business Cash℠ Credit Card

The Ink Business Preferred℠ Credit Card and the Ink Business Cash℠ Credit Card may have similar names, but when it comes to rewards, annual fee, and intro period, the cards differ greatly. The Ink Business Preferred℠ Credit Card offers different rewards than the Ink Business Cash℠ Credit Card (see details below). If you spend more on travel you’d be better off with the Ink Business Preferred℠ Credit Card since you earn a high rate on travel purchases and can benefit from points being worth 25% more when redeemed via Chase Ultimate Rewards®. But, if your business doesn’t spend on travel, the Ink Business Cash℠ Credit Card may be a better option.

  • 0% for 12 Months

  • $500 bonus cash back

  • Earn 5% cash back in select business categories

Highlights
  • Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
  • 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
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
  • Earn 1% cash back on all other card purchases with no limit to the amount you can earn
  • 0% introductory APR for 12 months on purchases and balance transfers
  • Employee cards at no additional cost
  • No Annual Fee

See additional details for Ink Business Cash℠ Credit Card

More Info

Since the Ink Business Preferred℠ Credit Card has a $95 annual fee and the Ink Business Cash℠ Credit Card has a $0 annual fee, you need to see what rewards better suit your business and if you can substantiate an annual fee.

Regarding the 0% intro APR period, the Ink Business Preferred℠ Credit Card doesn’t offer anything, but the Ink Business Cash℠ Credit Card offers an intro 0% for 12 Months on purchases, then 15.24% - 21.24% Variable APR applies. This is a great way for your business to save money on interest payments. Here’s a breakdown of the key features of each card.

Ink Business Preferred℠ Credit Card Ink Business Cash℠ Credit Card
Annual Fee $95 $0
Purchase Intro Rate N/A 0% for 12 Months
Balance Transfer Intro Rate N/A 0% for 12 Months
Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater Either $5 or 5% of the amount of each transfer, whichever is greater.
Ongoing APR 17.99% - 22.99% Variable 15.24% - 21.24% Variable
Rewards Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn. 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. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.
Sign Up Bonus Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening.
Foreign Transaction Fee $0 3% of each transaction in U.S. dollars

Bottom line

The Ink Business Preferred℠ Credit Card is a great card for businesses that travel since they’ll benefit from a $0 foreign transaction fee and higher rewards on travel purchases. Redeeming points for travel through Chase Ultimate Rewards® will earn you a 25% more that allows you to maximize your rewards.


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