Ink Business Preferred® Credit Card Review

The Ink Business Preferred® Credit Card is a business card designed for small business owners who want an excellent signup bonus and generous rewards. The welcome offer is stellar, one of the most lucrative offers you can find. Ongoing rewards are great as well. You’ll earn 3x on internet, phone, shipping, travel and advertising: everything (almost) you need to keep your small business running. There is a cap of $150,000 a year, but after that you can use a different card. You’ll also earn 5x on Lyft rides through March 2025. Employee cards are available at no additional cost. There is an annual fee, but the rewards are worth it. We dive into the details and your approval odds in this Chase Ink Preferred review.

Our Rating

4.7/5.0

Welcome Offer

New Cardmember Offer! Earn 100,000 bonus points

Annual Fee

$95

0% on Purchases

N/A

Reward Rate

1-3x points

0% on Balance Transfers

N/A

How Does the Chase Ink Preferred Compare?

The Ink Business Preferred® Credit Card compares well against the best business credit cards. It pays one of the most valuable signup bonus. If your business spends in the 3x categories, including travel, then the card is an excellent choice.  The 25% bonus when points are used for travel through Chase makes the card extremely lucrative.

Who is the Chase Ink Preferred card best for?

Small business owners who either travel a lot or spend a lot on online advertising will get the most value from this card.

Who would do better with a different card?

If you spend a lot of money in the categories listed, it’s hard to go wrong with this card. However, if you don’t, or you want a card with no annual fee and a more straightforward cash back allowance, consider the alternatives below.

Welcome Offer

New Cardmember Offer! Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.

Features & Benefits

SecurityEMV Chip Enabled, Fraud Monitoring, Zero Liability
Contactless PaymentsTap to Pay, Apple Pay, Google Pay, Samsung Pay
BenefitsExtended Warranty Coverage, Purchase Protection, 24/7 customer service
Travel PerksAuto Rental Collision Damage Waiver, Emergency Travel Assistance, Roadside Assistance, Trip Cancellation Insurance

Rewards

1x points
On all other eligible purchases
Earn 1 point per $1 on all other purchases
3x points
All eligible purchases
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.

Interest Rates & Fees

Annual Fee$95
Foreign Transaction Fee$0
Regular APR21.24%-26.24% (V) APR

What Credit Score Is Required to Get the Ink Business Preferred® Credit Card

The following credit score data are based on publicly available information we have collected from various forums. We have no way to confirm the accuracy of this data. In addition, keep in mind that credit card issuers use a number of factors in their underwriting process, and these factors can change at any time.

App StatusDateCredit ScoreBureauCredit Limit
Approved09/26/2023
746
Experian
$5,500
Approved09/26/2023
764
TransUnion
$5,500
Approved09/26/2023
798
Equifax
$5,500
Approved12/27/2023
710
Not Provided
$14,500
Approved07/03/2023
755
Experian
$14,500
Approved01/06/2024
825
Experian
$10,000
Approved01/06/2024
845
Equifax
$10,000
Approved01/06/2024
845
TransUnion
$10,000
Approved10/31/2023
788
Experian
$63,000
Approved10/31/2023
804
TransUnion
$63,000

Pros & Cons

Pros
  • Welcome offer
  • No foreign transaction fee
  • Earns Chase Ultimate Rewards points
  • Earn up to 3x points
Cons
  • Annual fee
  • Requires good credit

What Are the Best Alternatives?

Ink Business Cash® Credit Card
Ink Business Cash® Credit Card

Rating

4.8

Rewards Range

1%-5%

Annual Fee

$0

Capital One Spark Cash Select for Excellent Credit
Capital One Spark Cash Select for Excellent Credit

Rating

4.7

Rewards Range

1.5% - 5%

Annual Fee

$0

U.S. Bank Triple Cash Rewards Visa® Business Card
U.S. Bank Triple Cash Rewards Visa® Business Card

Rating

4.5

Rewards Range

1% - 5% Cash Back

Annual Fee

$0

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