Chase Ink Business Preferred Review – Is it the Best Business Card on the Market?

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Chase Ink Business Preferred Credit Card Review

Chase Ink Business Preferred Credit Card Review

Chase has had the Ink line of business credit cards for many years now.  While they have had the Ink line for a while they have continued to revamp it during that time.  About a year and a half ago they discontinued applications for the Ink Plus and introduced the Ink Preferred as it’s replacement.

While the change was met with negativity in the beginning, the Chase Ink Business Preferred may now be the best business credit card available on the market.  Let’s take a look!

Current Sign Up Bonus Vs The Historical High

The current sign up bonus is as follows:

  • 80,000 Ultimate Rewards Points
  • After spending $5,000 within the first 3 months

The 80,000 point sign up bonus matches the all time high for public offers. There has been referral/target offers for 100,000 points in the past.  The current 80,000 point offer seems to be the norm though.


CLICK HERE to compare this and other business rewards credit cards


Chase Ink Business Preferred Credit Card Review

Bonus Restrictions

The Chase Ink Preferred card does fall under the dreaded Chase 5/24 rule.  While it falls under the rule remember that it does not count towards your 5/24 count.  So if you are at 4/24 you can apply for it and still get another Chase card after.

Most Chase cards have a 24 month restriction as well.  This restriction usually limits you from getting a sign up bonus for a second time within 24 months for the same card. There is no such terminology/restriction in Ink Business Preferred terms.  You may want to verify that with recent data points before applying if you fall within the 24 month time frame.

Earning Structure

The Chase Ink Business Preferred card comes with the following earning structure:

  • Earn 3 points per $1 on the first $150,000 spent in combined purchases in the following categories each account anniversary year
    • Travel
    • Internet, cable and phone services
    • Advertising purchases on social media and search engine optimization
    • Shipping purchases
  • Earn 1 point per $1 on all other purchase — with no limits to the amount you can earn.

CLICK HERE to compare this and other business rewards credit cards


Chase Ink Business Preferred Credit Card Review

Cardmember Perks

The Chase Ink Business Preferred comes with the following perks:

  • Your Ultimate Rewards points are worth 25% more when booking travel through the UR portal.
  • Ultimate Rewards points are transfer eligible with this card.  That opens up 1 to 1 transfers to Southwest, United, Hyatt, British Airways among others.
  • Cell phone protection – Get up to $600 per claim in cell phone protection against covered theft or damage for you and your employees listed on your monthly cell phone bill when you pay it with your Chase Ink Business Preferred credit card. Maximum of 3 claims in a 12 month period with a $100 deductible per claim.
  • No foreign transaction fees
  • Trip Interruption/Cancellation Insurance – If your trip is cancelled or cut short by sickness, severe weather and other covered situations, you can be reimbursed up to $5,000 per trip for your pre-paid non-refundable travel expenses, including passenger fares, tours, and hotels.
  • Extended Warranty Protection – Extends the time period of U.S. manufacturer’s warranty by an additional year, on eligible warranties of three years or less
  • Auto Rental Collision Damage Waiver – Decline the rental company’s collision insurance and charge the entire rental cost to your card. Coverage is primary when renting for business purposes and provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.

It is important to remember that the insurance and protection perks only are good towards business purchases.  Example: The car rental insurance coverage will not cover car rentals for personal trips etc.

Fees

The card comes with a $95 annual fee which is NOT waived the first year.

Sign Up Bonus Value – $1200 ($1105 Net)

Chase Ultimate Rewards points are worth 1.5 cents a piece.  That gives 80,000 points a value of $1200.  The net value would be $1105 after taking the $95 annual fee into account.


CLICK HERE to compare this and other business rewards credit cards


Chase Ink Business Preferred Credit Card Review

Summary

The Chase Ink Business Preferred is a very compelling business card with one of the best sign up bonuses available.  This card may be the best overall business credit card offered by any bank.

While some were upset with the discontinuation of the Chase Ink Plus card, and it’s 5x earning rates, this card offers a more diverse array of bonus earning categories.  Also, with the death of many 5x earning avenues the Chase Ink Business Preferred may now be the better option.

The card also offers many valuable perks, that pair nicely with the rewarding earning structure.  The best one is the cell phone insurance coverage.  $600 towards a broken or stolen phone is a pretty great perk.  The Chase Ink Business Preferred also offers some nice travel protections.  Remember that the protections only work on business trip bookings though.

All in all this card offers the best sign up bonus, most diverse earning structure, and most valuable travel partners of any business card offered on the market.

Long Term Keep or Cancel?

This card is a long term keeper.  It comes with a rewarding earning structure, a lot of great perks, a reasonable annual fee, and unlocks Ultimate Rewards transfer partners.

The $150,000 limit on 3x earning is generous enough that many people will not come close to the cap.

The Chase Ink Business Preferred is a long term keeper unless you have the Chase Sapphire Reserve card.  If you have the CSR card then this card should be downgraded to the Chase Ink Cash after the first year.

The bonus categories between the Ink Preferred and Sapphire Reserve have a lot of overlap and would diminish the usefulness of the Ink Preferred.  No sense in paying two annual fees for a lot of the same coverage.  The Chase Ink Cash offers a different earning structure which would pair with the CSR better.

Conclusion

The Chase Ink Business Preferred is the best business card on the market for most.  It checks off every box.  The card comes with a great sign up bonus.  It has a very rewarding earning rates.  The annual fee is reasonable and the Ultimate Rewards ecosystem is the best transferable points currency out there. The Chase Ink Business preferred also comes with many rewarding perks, including $600 in cell phone insurance.

Getting the card has it’s challenges with Chase’s 5/24 rule.  It is best to get the card sooner rather than later if you are currently under 5/24.

 

 


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5 COMMENTS

  1. If you get in touch with BRM (business relationship manager) at Chase, they will be able to get it for you even if you are over 5/24 (I was about 20/24) PLUS you’ll get 100,000 points. BTW, I’m keeping this past year 1 due to 3x points for shipping.

  2. Thanks, Lukas,
    I’m going to try getting in touch with the BRM for the 100,000 pts. I’ll let you know if it works!

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