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 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% Intro on Purchases

N/A

Reward Rate

1-3x points

0% Intro on Balance Transfers

N/A

Welcome Offer

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

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

  1. 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.
  2. 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.
  3. 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.

Features & Benefits

SecurityEMV Chip Enabled, Fraud Monitoring, Zero Liability
Contactless PaymentsTap to Pay, Apple Pay, Google Pay, Samsung Pay
BenefitsCell Phone Protection, Extended Warranty Coverage, Purchase Protection, 24/7 customer service
Travel PerksAuto Rental Collision Damage Waiver, 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 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 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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