Ink Business Preferred® Credit Card Review
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The Ink Business Preferred® Credit Card is a business card designed for small business owners who want an excellent welcome offer 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 Ink Preferred card review.
Our Rating
4.7/5.0
Welcome 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 welcome offers. 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.
Editorial Review
The Ink Business Preferred® Credit Card is a standout choice for small to mid-sized business owners who seek to maximize their spending power through a strategic rewards program. With a robust welcome offer, this card also provides three points per dollar on various business-relevant spending categories, such as travel, shipping, and digital advertising, up to an annual cap.
Coupled with comprehensive travel benefits and an affordable $95 annual fee, the Ink Business Preferred is tailor-made for entrepreneurs looking to leverage their business expenses into significant rewards. This makes it a top contender in the competitive business credit card market.
Three Reasons Why the Ink Business Preferred® Credit Card is Right for Your Business
- Generous Welcome Offer: One of the standout features of the Ink Business Preferred® Credit Card is its substantial welcome offer. Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. These points can be redeemed for travel, cash back, gift cards, and more, providing significant value from the start.
- Triple Points on Business Spending Categories: The card rewards users with 3 points per dollar on the first $150,000 spent in combined purchases each account anniversary year in key business categories. These categories include travel, shipping purchases, internet, cable, phone services, and advertising purchases made with social media sites and search engines. This targeted reward structure makes it an excellent choice for businesses that spend heavily in these areas.
- Travel Perks and Protections: Cardholders benefit from no foreign transaction fees on purchases made abroad, which is ideal for businesses with global dealings. The card also offers travel protection benefits such as trip cancellation/interruption insurance, auto rental collision damage waiver, and more. These protections provide peace of mind while traveling for business.
Frequently Asked Questions (FAQ)
Are there any specific restrictions on earning the triple points in the designated categories?
The triple points reward applies to the first $150,000 in combined purchases each account anniversary year in the specified categories, which include travel, shipping, internet, cable and phone services, and advertising purchases with social media sites and search engines. After reaching this cap, purchases in these categories earn points at the standard rate of one point per dollar spent. Cardholders must plan their spending accordingly to maximize their rewards within these limits.
How does the cell phone protection benefit work with this card?
The Ink Business Preferred® Credit Card offers the unique benefit of cell phone protection when you pay your monthly bill with the card. This benefit provides up to $600 per claim in cell phone protection against covered theft or damage for you and your employees listed on your monthly cellphone bill. There is a limit of three claims per 12-month period, with a $100 deductible per claim, which can significantly mitigate the cost and inconvenience of cell phone repairs or replacements.
Can points earned with the Ink Business Preferred® Credit Card be transferred to airline and hotel loyalty programs?
Yes, one of the valuable features of the Ink Business Preferred® Credit Card is the ability to transfer points to a variety of major airline and hotel loyalty programs, usually at a 1:1 ratio. This flexibility enhances the potential value of points, particularly for those who travel frequently and can use these points for bookings through partners where they may get more value per point than through other redemption options.
Welcome Offer
Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.
Features & Benefits
| Security | EMV Chip Enabled, Fraud Monitoring, Zero Liability |
| Contactless Payments | Tap to Pay, Apple Pay, Google Pay, Samsung Pay |
| Benefits | Extended Warranty Coverage, Purchase Protection, 24/7 customer service |
| Travel Perks | Auto Rental Collision Damage Waiver, Emergency Travel Assistance, Roadside Assistance, Trip Cancellation Insurance |
Rewards
Interest Rates & Fees
| Annual Fee | $95 |
| Foreign Transaction Fee | $0 |
| Regular APR | 21.24%-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 numerous factors in their underwriting process, and these factors can change at any time.
Lowest Approved Credit Score: 710
Average Approved Credit Score: 788
| App Status | Date | Credit Score | Bureau | Credit Limit |
|---|---|---|---|---|
| Approved | 09/26/2023 | Experian | ||
| Approved | 09/26/2023 | TransUnion | ||
| Approved | 09/26/2023 | Equifax | ||
| Approved | 12/27/2023 | Not Provided | ||
| Approved | 07/03/2023 | Experian | ||
| Approved | 01/06/2024 | Experian | ||
| Approved | 01/06/2024 | Equifax | ||
| Approved | 01/06/2024 | TransUnion | ||
| Approved | 10/31/2023 | Experian | ||
| Approved | 10/31/2023 | TransUnion |
Pros & Cons
- Welcome offer
- No foreign transaction fee
- Earns Chase Ultimate Rewards points
- Earn up to 3x points
- Annual fee
- Requires good credit
What Are the Best Alternatives?
Ink Business Cash® Credit Card
Rating
4.8
Rewards Range
1%-5%
Annual Fee
$0
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
Rating
4.5
Rewards Range
1% - 5% Cash Back
Annual Fee
$0
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