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Ink Business Preferred Credit Card Review

Ink Business Preferred Credit Card Review

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Jul 23, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

If you’re a small business owner looking to earn a huge influx of rewards on company expenses that can be redeemed for travel and more, you should look at the Ink Business Preferred℠ Credit Card.

We break down the pros and cons of the Ink Business Preferred℠ Credit Card, and show how it compares to the Ink Business Cash℠ Credit Card – which also offers rewards on a variety of business expenses.

Ink Business Preferred℠ Credit Card pros

Sign-up bonus. The Ink Business Preferred℠ Credit Card comes with a very lucrative sign-up bonus offer – especially when redeemed for travel through Chase Ultimate Rewards®.

Cardholders earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening. If you redeem those points for cash or gift cards, they will be worth $1,000. Or, if you redeem them for airfare, hotel stays, car rentals, activities or cruises through Chase’s travel portal, they are worth 25% more, or $1,250.

Ultimate Rewards points can be redeemed for cash, gift cards, travel or merchandise.

Read: Ink Business Preferred℠ Credit Card: Earn Up to 100,000 Bonus Points

Rewards rate.  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.

Plus, from Aug. 1 through Oct. 31, 2020, existing cardholders automatically earn 5 total points per dollar on shipping and advertising purchases made on social media and search engines on up to $10,000 spent in combined purchases.

The travel category includes airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, taxis, toll bridges, parking lots and more.

The shipping category is defined as merchants that specialize in mailing packages, hauling freight and transporting goods or documents, such as couriers, postal and freight shipping companies, express shipping services and mailbox stores.

The internet, cable and phone services category includes internet, cable, satellite television and radio, cellular, wireless data and landline services purchases.

Social media and search engine advertising covers social media websites (such as Facebook and Twitter) and search engines (such as Google AdWords and Microsoft Bing Ads) that advertise a business, brand, products or services.

Travel transfer partners. Along with redeeming points for travel, cash back and more, cardholders can transfer Ultimate Rewards points at a rate of 1:1 to a several airline and hotel loyalty, including British Airways Executive Club, Emirates Skywards®, JetBlue TrueBlue, Southwest Airlines Rapid Rewards®, United MileagePlus®, Marriott Bonvoy™ and more.

Read: Chase Ultimate Rewards Program Guide: Why You Should Be Excited

Additional Ink Business Preferred℠ Credit Card benefits:

  • Free employee cards: Employee cards are free, and you have the ability to implement spending limits to keep spending under control.
  • Cellphone protection: Receive 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 person and $10,000 per trip for eligible expenses if your trip is canceled or cut short by sickness, severe weather or other covered situations.
  • 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 car rentals in the U.S. and abroad.
  • Purchase protection. Your new purchases will be covered against damage or theft for 120 days, up to $10,000 per claim and $50,000 per account.
  • Extended warranty protection. Eligible U.S. manufacturer warranties of three years or less will be extended an additional year.
  • Foreign transaction fees. You will be charged $0 in foreign transaction fees if you use your card to make purchases outside of the U.S.

Ink Business Preferred℠ Credit Card cons

No intro APR. Because the Ink Business Preferred℠ Credit Card does not offer an intro APR on purchases, you will be subject to an APR of 15.99%-20.99% variable if you don’t pay your balance in full each month.

If you need to finance a large purchase, such as business travel or equipment for your company, you may be better off with a business credit card that doesn’t charge interest on purchases for a year or longer, such as the Ink Business Cash℠ Credit Card.

Read: Best 0% Intro APR Business Credit Cards

Annual fee. The Ink Business Preferred℠ Credit Card charges an annual fee of $95. However, the value you can get from the card’s sign-up bonus more than covers that amount during the first year of card membership.

Compare it to the Ink Business Cash℠ Credit Card

  • 0% Intro APR on Purchases for 12 months, then 13.24% - 19.24% Variable

  • Earn $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
  • Employee cards at no additional cost

See additional details for Ink Business Cash℠ Credit Card

More Info

The Ink Business Preferred℠ Credit Card and the Ink Business Cash℠ Credit Card may have similar names, but when it comes to rewards, annual fees and intro APRs, the cards differ greatly.

For starters, the Ink Business Cash℠ Credit Card offers cash back instead of points:  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.

Cardholders also earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening.

See how the cards compare side by side below.

Ink Business Preferred℠ Credit Card vs. Ink Business Cash℠ Credit Card

 Ink Business Preferred℠ Credit CardInk Business Cash℠ Credit Card
Annual fee$95$0
Sign-up bonusEarn 100,000 bonus points after you spend $15,000 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.
Rewards rateEarn 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.
Intro APR on purchasesN/A0% Intro APR on Purchases for 12 months
Regular purchase APR15.99%-20.99% variable13.24% - 19.24% variable
Foreign transaction fees $03% of each transaction in U.S. dollars

Although the Ink Business Preferred℠ Credit Card offers a much more valuable sign-up bonus than the Ink Business Cash℠ Credit Card, keep in mind that you are required to spend $15,000 in the first three months of card membership to earn that bonus – compared to just $3,000 in three months with the Ink Business Cash℠ Credit Card.

Additionally, the Ink Business Cash℠ Credit Card comes with a $0 annual fee.

If you’re planning to make a large purchase and pay it off over time, you can do so without incurring interest charges for a year with the Ink Business Cash℠ Credit Card. The card offers an intro APR of 0% intro apr on purchases for 12 months on purchases. Once the promotional period ends, a regular APR of 13.24% - 19.24% variable will apply to any unpaid portion of the balance.

Read: Ink Business Cash℠ Credit Card review.

Which credit card is best for me?

Ultimately, the best business credit card for you comes down to what you want to get from the card. For example, if you want to earn a large influx of rewards to help offset the cost of future business travel, the Ink Business Preferred℠ Credit Card will be the best fit. Along with a generous sign-up bonus and rewards rate, the card offers valuable redemption options and a variety of travel transfer partners. Plus, you won’t incur additional charges when you use your card outside of the U.S.

If you prefer a $0 annual fee card that offers cash back at office supply stores, gas stations, restaurants and more, the Ink Business Cash℠ Credit Card will be a better choice. Additionally, the card offers a long intro APR on purchases, which will be helpful if you plan to carry a balance from month to month.


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Highlights
  • Earn 50,000 American Airlines AAdvantage® bonus miles after spending $5,000 in purchases within the first 3 months of account opening
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  • Earn 10,000 AAdvantage® Elite Qualifying Miles (EQMs) after you spend $40,000 in purchases within the year
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  • Earn 2 AAdvantage® miles for every $1 spent on eligible American Airlines purchases and 1 AAdvantage® mile for every $1 spent on other purchases
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See additional details for Citi® / AAdvantage® Executive World Elite™ Mastercard®

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March 6, 2019