Card Spotlight: Chase Ink Business Preferred
Is This the Right Card for You?
I’d be willing to bet there’s a very good chance that the Ink Business Preferred card from Chase ought to be the next card you add to your wallet. While many people might write this card off either because they assume they can’t get a business card, or because the idea of paying an annual fee doesn’t appeal to them, I’m here to help make sure that you’re not one of the misinformed people who are missing out on a HUGE limited time bonus on this card.
Also if you don’t have a business…keep reading! You can still get this card!
This limited-time offer is worth an absolute minimum of $1,500 in travel. However there is potential for thousands more in value depending on how you redeem your points!
Card Benefits:
Aside from the large signup bonus, The Chase Ink Business Preferred card comes packed with a host of other benefits designed to maximize your business spending. Here’s a quick overview of what you can expect:
Bonus Categories: Earn 3x points on travel, shipping purchases, internet, cable, and phone services, and advertising purchases made with social media sites and search engines. *Up to $150,000 spent in combined purchases each account anniversary year.
Travel Benefits: Enjoy trip cancellation/interruption insurance, primary car rental insurance, and cell phone protection when you pay your monthly bill with the card.
No Foreign Transaction Fees: Travel easily knowing you won’t be hit with foreign transaction fees on purchases abroad.
Flexible Redemption Options: You can redeem your points through the Chase Ultimate Rewards portal for a 25% bonus, or this card gives you the option to transfer them to any of Chase’s travel partners at a 1:1 ratio for even greater value.
Low Annual Fee: The $95 annual fee is easily offset with the super-generous welcome offer and the slough of benefits you can cash in on throughout the year.
Do I qualify for a business card?
This is where most people start to second-guess themselves, but here’s the good news: the answer is probably YES!
A lot of folks get hung up on this, so I put together a Free Guide to Opening Business Cards. This guide tackles all the common questions and walks you through the entire process step-by-step.
Essentially here’s how it works: if you’ve ever done anything like babysit, sold stuff on Facebook Marketplace, consulted for a friend, or even taken photos with the aim of one day making money, you can qualify for a business credit card—yes, even if you haven’t made a dime yet!
So, while you do need a “business,” you don’t need an LLC, a formal business license, or anything overly official. All you need is your full legal name, Social Security number, and a small idea for a side hustle. My free guide will take you through everything you need to know!
Why I Personally love this card
Let’s be honest, one of the main reasons I love this card is the points-earning potential. Even just with my wife and I each opening one of these cards, we can easily earn almost 300K Ultimate Reward points! The ability to earn additional bonus points by paying my cell phone, internet, and cable bills and getting cell phone protection all on this one card is awesome.
Some people get hung up on the $95 annual fee but honestly, it is more than worth it. After 12 months if you disagree you can always change your mind and get one of the $0 annual fee ink cards to keep in your wallet.
What can I do with this bonus?
This sign-up bonus alone could get you 2 business class tickets to Europe, or multiple roundtrip economy tickets to several popular European cities using the Flying Blue program from Air France / KLM.
You could also get 5-7 nights at an all-inclusive property like Dreams, Breathless, or Secret Resorts from Hyatt!
If you want more inspiration for what you can do with these points check out my post here on how I would spend 80K Chase points!
FAQ
What if I already have an Ink card?
Thankfully, there is no limit to the number of ink cards you can have, or how often you can earn the sign-up bonuses. If you already have any one of the ink cards, consider referring your spouse to open this card and you will also get a referral bonus.
What if I don’t have a business?
Check out my Free guide to opening business cards for some ideas on how you could still apply!
What can I do with 120K points?
A LOT. Here’s an article I wrote on some of my favorite uses for Chase points!
What if I get it and decide I don’t want to keep it?
As long as you have held the card for 12 months or longer, you can go ahead and close it and move the credit to another business card such as the $0 annual fee Chase Ink Business Cash or Chase Ink Business Unlimited
I don’t know If I can spend $8K in 3 months, what should I do?
My free Guide to opening business cards has several ideas in there but a couple quick options are to consider pre-paying utilities, or seeing if any family has bills that they would be willing to let you pay for on your card and let them reimburse you personally. You could also wait to open the card until you have a large expense coming up such as a home or car repair, or tax season etc.