Chase Ink Business Preferred® Credit Card Review
It’s no secret that 2016 was an amazing year for Chase credit cards. It started with the Chase Freedom Unlimited® being released in spring 2016. Then, a few months later, they released the Chase Sapphire Reserve® card to so much demand they initially ran out of the metal cards they are manufactured with. It continued when one of the largest credit card issuers released the Ink Business Preferred® Credit Card.
Upon the release of this new card, Chase discontinued the Ink Plus card, which means this has become the premium business card from Chase. With so many benefits and a massive sign-up bonus, it’s easy to see why the card has become so popular.
Let’s take a look at what all you get with the new Ink Business Preferred® card.
What You Get
One of the biggest draws is its sign-up bonus. You will receive 100,000 Chase Ultimate Reward points after spending $15,000 within the first three months from account opening. These points can be combined with Ultimate Reward points that you have earned with other cards, like the old Ink Plus Business card, the Sapphire Preferred® or the Sapphire Reserve® card.
Where this card really gets fascinating is with the ability to earn bonus points on certain business purchases. You will earn 3x points on purchases made within the following four categories:
- Internet, cable, phone services
- Shipping purchases
- Online advertising with social media or search engines
There is a combined limit of $150,000 per calendar year for these four categories. Any purchases made over $150,000 as well as purchases made on other expenses will all receive 1x points.
Chase Ultimate Reward points can be extremely valuable for travelers. If you redeem them for travel through the Chase Ultimate Rewards platform, you will receive a 25% bonus. Alternatively, you can transfer them to one of the many travel partners. Some of their partners include United Airlines, Southwest Airlines, Hyatt, Marriott and more.
Without even mentioning some of the other less glamorous benefits, it’s easy to justify the $95 annual fee that comes with this card. The sign-up bonus alone is worth over $1,200. Add in some of the following benefits, and the value of the card continues to grow.
When you use the Ink Business Preferred® card to book travel, and your trip is canceled for any covered reason, you will be able to take advantage of the card’s trip cancellation/interruption insurance. You will receive reimbursements up to $5,000 per person and $10,000 per trip for your nonrefundable expenses.
You will receive primary car rental insurance when you book a rental car and use the Ink Business Preferred® card for payment. Just remember to decline all coverages from the car rental company. This is a benefit that’s good throughout the U.S. and most countries abroad.
Most people would probably agree that it’s quite frustrating when your cell phone gets damaged. The Chase Ink Business Preferred® card has you covered with a fairly unique benefit: It comes with cell phone protection, which means you will be covered up to $600 if your phone is damaged or stolen. This also covers any employee phone that is listed on the account. The bill must be paid with the Chase Ink Business Preferred® card, you will be required to pay a $100 deductible, and there is a limit of three claims per year.
The card also comes with purchase protection, which will cover any item you buy against theft or damage in the first 120 days. If an item does happen to be damaged or stolen, you can receive compensation up to $10,000 per claim and $50,000 per account.
And finally, cardholders will receive extended warranty protection. This will extend a three year or less manufacturer’s warranty by an additional year.
What You Don’t Get
If you are looking for a premium business card, then the Ink Business Preferred® card is a great choice. While it comes with nearly everything you could want, there are a few benefits that are missing compared to other elite business cards. You will not receive an airline fee credit or lounge access, like you can receive from the Business Platinum Card from American Express. You also won’t receive a statement credit for applying to Global Entry or TSA PreCheck. However, considering the low annual fee, this won’t be a problem for many people.
The Bottom Line
Chase has been making a lot of changes this year to their credit card lineup. The latest addition of the Ink Business Preferred® Credit Card certainly doesn’t disappoint. With a large signup bonus and the ability to earn bonus points on purchases that can help grow your business, it’s no surprise that this card has quickly become a favorite for many small business owners.
Editorial Note: The information related to Chase Sapphire Reserve® was collected by Credit Cards House and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see issuer website for current information. Credit Cards House does not receive commission for this product.
First published , last updated
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.