Chase Ink Business Preferred Review

Pros

• Excellent rewards program
• Generous welcome offer
• Free employee cards
• Travel and purchase protections
• No foreign transaction fee

Cons

• Annual fee
• No introductory APR
• Spending cap on bonus rewards categories

What Is Chase Ink Business Preferred?

Chase Ink Business Preferred is a business rewards credit card designed for businesses that spend regularly on travel, shipping, internet, cable, phone services, and online advertising.

The card earns 3x points per $1 spent on the first $150,000 in combined purchases in select bonus categories each account anniversary year. All other purchases earn 1x points per $1 spent.

Ink Business Preferred also offers a welcome bonus, free employee cards, no foreign transaction fees, travel protections, purchase protections, and a 25% point value boost when you redeem points for travel through Chase Travel.

However, the card has a $95 annual fee and no intro APR offer, so it’s best for businesses that can earn enough rewards to justify the yearly cost.

Chase Ink Business Preferred: Quick Facts

Rewards & Perks

The Ink Business Preferred card has a rewards structure designed for businesses that spend regularly on travel, shipping, internet, cable, phone services, and online advertising.

The card’s top rewards tier does have a spending cap, but it’s a relatively high cap: $150,000 in combined purchases each account anniversary year. Purchases outside the bonus categories earn the base rewards rate.

Great Welcome Offer

Ink Business Preferred’s welcome offer can provide strong value for businesses that meet the spending requirement. You’ll earn 100,000 points when you spend $8,000 within 3 months of opening your account. These points are typically deposited into your account within six to eight weeks.

If redeemed through Chase Travel, points are worth 25% more, which can make the welcome offer more valuable for businesses that plan to use rewards for travel.

3x Points For Select Categories

You’ll earn 3x points per $1 spent in several business spending categories:

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

This bonus rate applies to the first $150,000 in combined purchases in these categories each account anniversary year. After that, purchases in these categories earn 1x point per $1.

1x Point Per $1 On Everything Else

Purchases outside the bonus categories earn 1x point per $1 spent.

The bonus categories also drop to this rate after you spend $150,000 in combined bonus-category purchases each account anniversary year.

Redeeming Rewards

When you redeem points for travel through Chase Travel, your points are worth 25% more. For example, 25,000 points would be worth $312.50 toward travel instead of $250.

You can also redeem points for cash back, statement credits, gift cards, Apple purchases through Chase, and eligible travel partner transfers.

Rates & Fees

Ink Business Preferred has a few costs to consider, including an annual fee and no intro APR offer. However, the card does not charge foreign transaction fees, which makes it more appealing for businesses that travel internationally or make purchases outside the US.

APR

At the time of writing, Chase Ink Business Preferred’s purchase APR is 17.74% – 26.74% (variable). There is no intro 0% APR period, so this card is not the best fit if you need to finance a large purchase over time.

If you pay your balance in full each month, the APR will matter less.

Annual Fee

Ink Business Preferred has a $95 annual fee. That fee may be worth it if your business spends heavily in the card’s bonus categories or uses the card’s travel protections and redemption perks.

However, businesses that do not spend enough in the bonus categories may be better off with a no-annual-fee business card.

No Foreign Transaction Fee

Ink Business Preferred does not charge foreign transaction fees. That can make it a stronger option for business owners who travel internationally or make purchases in foreign currencies.

Other Fees

As with most credit cards, there are other fees to consider. Balance transfers cost $5 or 5%, cash advances cost $15 or 5%, and late or returned payments may cost $40.

Chase Ink Business Preferred Features

Ink Business Preferred includes several business, travel, purchase, and account management benefits. These perks can add value for businesses that travel often, make larger purchases, or want employee cards with spending controls.

Eligibility Requirements

Chase does not publish a minimum credit score for Ink Business Preferred. However, this card is generally best for business owners with good to excellent personal credit.

Approval is not based on credit score alone. Chase may also consider your income, existing debt, business information, credit history, and other factors when reviewing your application.

Chase Ink Business Preferred Customer Service

Chase offers several support options for Ink Business Preferred cardholders, including online account support, phone support, secure messages, FAQs, and in-branch assistance.

Chase also offers 24/7 account access through its online dashboard and mobile app, where cardholders can view transactions, make payments, manage employee cards, set alerts, and access account details.

Chase Ink Business Preferred Reviews

Chase’s line of Ink Business credit cards are all well-reviewed and highly regarded in the industry. Card users at WalletHub give Ink Business Preferred an average score of 3.7/5 (based on 99 reviews) while users at Credit Karma give the card an average score of 3.6/5 (out of 13 reviews).

These scores don’t sound spectacular, but in reality, they’re quite good relative to the scores of competing business credit cards.

With a high top points-earning rate, a value bonus when you redeem your points for travel, and a laundry list of premium features and benefits, the card offers great value, despite the annual fee.

How Does Chase Ink Business Preferred Compare To The Alternatives?

Chase Ink Business Preferred is a strong business credit card, especially for businesses that spend heavily on travel, shipping, internet, cable, phone services, and online advertising. However, another card may be a better fit if you want no annual fee, intro APR financing, or simpler flat-rate rewards.

Final Verdict: Is Chase Ink Business Preferred Right For You?

Chase Ink Business Preferred is a strong fit for businesses that spend regularly on travel, shipping, internet, cable, phone services, and online advertising. Its bonus categories, welcome offer, travel redemption boost, and travel protections can make the annual fee worth it for the right business.

However, the card is not the best fit for every business. If you do not spend much in the bonus categories, want a $0 annual fee, or need an intro APR offer, another business credit card may be a better choice.

Businesses with very high annual spending should also consider the card’s bonus-category cap. Once you hit the $150,000 combined spending cap each account anniversary year, purchases in the bonus categories earn the base rewards rate.

Larger companies, startups, or teams that need employee spend controls, corporate cards, and expense management tools may also want to compare corporate card options.

You might want to apply if…

• You frequently spend on travel, shipping, internet, phone, cable, or online advertising
• You can earn enough rewards to offset the annual fee
• You travel often and can use the 25% Chase Travel redemption boost
• You want access to 1:1 point transfers to eligible travel partners
• You want business travel and purchase protections

You might want to look for a different card if…

• You do not spend enough in the bonus categories to justify the annual fee
• You want a $0 annual fee business credit card
• You need an intro APR offer
• You prefer simple flat-rate cash back
• You plan to spend far beyond the card’s $150,000 bonus-category cap