Why I love the Ink Business Preferred Credit Card

My husband and I have been self-employed in the digital media space for more than a decade, and this has left us managing every aspect of our finances on our own. This means we do everything we can to earn more money, legally minimize taxes and save for early retirement.

We also strive to simplify our business expenses in every way possible, and that includes using a single business credit card for the bulk of our business spending: the Ink Business Preferred® Credit Card.

What to love about the Ink Business Preferred Credit Card

While we also have several Chase business credit cards (including the Ink Business Cash® Credit Card and Ink Business Unlimited® Credit Card), we are at the point where we use our favorite — Ink Business Preferred — for around 90 percent of our business spending and bills. By using one card to charge the majority of our business expenses, we are able to make tax time much more seamless and better account for what we’ve spent and when.

How can one card meet so many of our needs? Some of the reasons are specific to us and our business, but the rest could apply to any solopreneur or small-business owner. If you’re intrigued by the Ink Business Preferred Credit Card, here are the reasons I love it — and why you might love it, too.

Exceptional rewards in popular business categories

The first reason we use this card so heavily is its bonus categories, which happen to apply to the bulk of our business spending. The Ink Business Preferred gives cardholders 3X points on up to $150,000 spent each account anniversary year (then 1X points) in eligible categories, along with 1X points on all other purchases. The eligible categories are:

• Shipping purchases
• Advertising purchases made with social media sites and search engines
• Internet, cable and phone services
• Travel

I love earning 3X points on most of our business spending, but I do use our Ink Business Unlimited for other business purchases that would only earn 1X points with the Preferred. This is because the Ink Business Unlimited offers 1.5 percent cash back on all purchases (and with no annual fee required; the Ink Business Preferred has a $95 annual fee).

Exceptional welcome offer

The Ink Business Preferred also comes with an exceptional welcome bonus. Specifically, new cardholders earn 100,000 Chase Ultimate Rewards points after spending $8,000 on purchases within three months of account opening. That’s worth a minimum of $1,000, but likely $1,250 or more, depending on how you redeem your rewards. That’s also a high minimum spending requirement for sure, but you should be able to reach it depending on your business spending.

Option to pool points

Chase also makes it easy to pool your Chase points in a single account so you can redeem rewards from different cards together. This includes Chase cash back cards that technically earn Chase Ultimate Rewards points.

I use a combination of cards, known as the Chase trifecta, for our personal and business spending. This collection also includes the Chase Freedom Unlimited®*, which offers 1.5 percent cash back on all purchases. I use this card to earn rewards on our personal spending that doesn’t qualify for bonus rewards. I also use the Chase Sapphire Reserve® to earn 3X points on general travel and dining purchases as well as 10X points on hotel stays and car rentals booked through Chase. Other bonus rewards I pursue with the Sapphire Reserve include its 5X points on air travel booked through the Chase portal and 10X points on Chase Dining purchases (through Ultimate Rewards).

Ultimately, though, I pool all our points (mine and my husband’s) from all our Chase credit cards into my Chase Sapphire Reserve account. I do this because I like to keep our family points in one place, but also because this card lets you redeem points for travel through Chase at a rate of 1.5 cents per point. I can book airfare, hotels, rental cars and more at this superior rate (after using each card in the Chase trifecta to maximize the rewards we earn).

Excellent rewards redemption options

In addition to getting 50 percent more value when redeeming points for travel through Chase with the Sapphire Reserve, keep in mind that the Chase Ultimate Rewards program offers outstanding redemption options. Not only can you use points for travel through the Chase portal, but you can also transfer points at a 1:1 rate to Chase airline and hotel partners with an eligible Chase credit card (which includes the Ink Business Preferred). For example, you can transfer Chase points to airline partners like Southwest Rapid Rewards and United MileagePlus, as well as to hotel partners like Marriott Bonvoy and World of Hyatt.

If you don’t want to redeem with a transfer partner, you can also redeem your rewards for gift cards, eligible merchandise, cash back (in the form of a statement credit) or travel through Chase.

Cellphone protection

Another benefit of the Ink Business Preferred is cellphone protection, which is applicable when you pay your cellphone bill with your credit card. I pay my phone bill with my business credit card since it’s a business expense. This perk is good for up to $1,000 per claim against damage or theft, although a $100 deductible applies per claim. You are also limited to three claims within any 12-month period.

Travel insurance perks for business

We travel quite a bit for business, and we love the travel insurance benefits this card offers. Specifically, we benefit from having primary auto rental insurance when we rent a car for business purposes, as well as trip cancellation and interruption insurance (for eligible expenses; worth up to $5,000 per person and up to $10,000 total per covered trip).

Another Ink Business Preferred benefit comes in the form of roadside dispatch, which could help in a pinch if you were stranded on the side of the road with a flat tire or not enough gas to get home.

The bottom line

Any of the reasons I love this card could be a good reason for you to sign up, too. The Ink Business Preferred’s sign-up bonus is probably the biggest incentive, but the regular earning rate and flexible rewards program are hard to beat, too. If your business spends a lot each month and you like to travel, the Ink Business Preferred should be at the top of your list.

*The information about the Chase Freedom Unlimited® has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.