Ink Business Preferred Credit Card

Robin Saks Frankel  in  Business Advertising Disclosure
 Image
Annual Fee:
$95.
Purchase Intro APR:
N/A
Regular APR:
18.24% to 23.24%, based on your creditworthiness. These APRs will vary with the market based on the Prime Rate.
Terms and Restrictions Apply | Rates and Fees

Commonly used for: Business, Excellent Credit, No Foreign Transaction Fees, Rewards, Sign-up Bonus, Travel.

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our business category page.

The information about the Ink Business CashSM credit card has been collected independently by Bankrate.com and has not been reviewed or provided by the card issuer.

Editor’s note: This offer may have expired or no longer be available.

For companies that spend a lot on staying connected, it’s hard to beat the rewards rate of the Ink Business Preferred Credit Card from Chase. This card also offers an outstanding sign-up bonus worth far more than the cost of card ownership.

Review

The Ink Business Preferred Credit Card boasts one of the best sign-up bonuses of any small business card. Spend $5,000 within the first three months of owning the card and get 80,000 points. That’s worth $800 in cash or $1,000 in travel booked through the Chase rewards portal. The sign-up bonus alone more than makes up for the $95 annual fee — for years to come.

The ongoing perks also are excellent for tech and travel-heavy businesses.

You’ll earn 3x per $1 for travel, shipping and technology purchases on the first $150,000 spent in combined purchases per year. And the rewards increase in value by 25% when used for booking travel through Chase Ultimate Rewards.

For those who are constantly on the go for work, this could add to up some major savings. Ink Business Preferred also is one of the few small business cards we’ve seen that includes internet advertising as a bonus category.

But the perks don’t stop there. You’ll also receive $600 worth of mobile phone insurance, a great benefit that covers any phone in your organization, as long as the monthly bill for the phone is paid for with the card.

Of course, this card is only a great choice if your spending habits align with the rewards categories. If most of your spending is on office supplies or gas, for example, you may be better off with a different card.

Who should own this card

Business owners who have a lot of expenditures in the bonus categories can benefit from owning the Ink Business Preferred Credit Card — especially those who spend a lot on travel, as the rewards can be used to book free travel through the Chase portal.

Advantages
  • Get 80,000 bonus points, worth $1,000 toward travel through the Chase portal, after you spend $5,000 on purchases in the first 3 months after account opening.
  • Earn 3x points per $1 on the first $150,000 spent annually in combined purchases on travel, shipping purchases, internet, cable and phone services, and on advertising purchases made with social media sites and search engines.
  • Earn an unlimited 1x point per $1 spent on all other purchases.
  • There are no foreign transaction fees.
Disadvantages
  • If your biggest expenses are in other categories then the ones that receive bonus awards, you may be better off with another card.
  • Companies that spend above the bonus cap of $150,000 may be better off with a flat-rate cash-back card.
  • You’d have to earn back at least $95 worth in rewards to negate the annual fee.
  • There’s a penalty APR for late or missed payments.

Fees and APR

• Pay a variable APR of 18.24% – 23.24% on purchases and balance transfers.
• The annual fee is $95.
• There are no foreign transaction fees on purchases made outside the U.S.
• A penalty APR of 29.99% variable will apply indefinitely if you make a late or returned payment, plus a late payment fee of up to $39.

Extras, perks and using points

Receive extra employee cards at no additional cost. You can also sign up for instant purchase alerts to help keep tabs on employee spending.

This card comes with trip cancellation and interruption insurance, primary auto rental collision damage coverage, coverage for lost or delayed baggage and 24/7 roadside dispatch.

The card also gives an extra year of purchase protection, and up to $600 worth of cell phone insurance if you or your employee’s phones are lost or stolen if you used your card to pay the phone bill.

Points are worth 25% more when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel. There is no fee to redeem your points and they never expire as long as your account is open and in good standing.

To redeem your Chase Ultimate Rewards for cash back, log into your Chase account and select “Redeem rewards.” You can use your rewards as a statement credit or to buy gift cards through the Chase site.

If you also own a Chase Sapphire Reserve card, you can transfer your rewards from the Ink Business Preferred Credit Card where they can be used to book travel through the Chase portal at an increased redemption value — 50% instead of 25%.