Edited by: Kellie Jez
Great Card If
- You’re a business owner who spends a lot on travel, shipping, and advertising expenses
- You want a card with great purchase and travel protections
- You want a card with a cell phone protection plan in case of theft or damage
- You want a card with flexible point redemption options
Don’t Get If
- You prefer a card with no annual fee
- Your business spending does not fall within the bonus categories
- You prefer cash-back rewards over points
Ink Business Preferred Card — Is It Worth It?
Since the Ink Business Preferred card is a business credit card, naturally, the ideal cardholder is a business owner.
But this card isn’t limited to brick-and-mortar business owners. If you own an online business, work as a freelancer, or even if you’ve made a business out of selling things on eBay, you’re eligible for this card.
The card is also perfect for individuals who tend to be rough with their cell phones as it’s one of the few on the market to offer cell phone protection. Cardholders can receive up to $1,000 per claim, with up to 3 claims per 12 months.
If you’re a savvy business owner that has a lot of travel, shipping, or advertising needs — or you’d like a card that keeps you covered with purchase protection or cell phone insurance — then the Ink Business Preferred card could be a great option for you. Thanks to the bonus categories, it is also one of the best cards for monthly bills for business owners.
Ink Business Preferred Card Top Benefits
The card’s purchase protection covers new purchases against damage or theft for 120 days. This benefit covers up to $10,000 per claim with a maximum of $50,000 per year.
Cell Phone Protection
This benefit will protect your cell phone, plus the cell phones of those employees listed on your monthly bill, against loss or damage. To activate this benefit, all you need to do is pay your phone bill with your Ink Business Preferred card — and don’t forget, you’ll also be earning 3x points.
Each claim has a $100 deductible. Claims are capped at $1,000 each and you can submit up to 3 claims per year.
Trip insurance is something that many of us won’t pay for, but it’s a nice perk to have built into your credit card. The Ink Business Preferred card offers trip cancellation and interruption insurance.
This means that you’re covered if your trip is canceled or cut short by illness or severe weather. You can be reimbursed up to $5,000 for prepaid, non-refundable expenses like tickets, tours, and hotels.
Car Rental Insurance
If you’re renting a car with your Ink Business Preferred card for business purposes, you’re eligible for primary car rental insurance. This means you don’t have to file a claim with your other insurance first. This coverage provides reimbursement for theft or damage for most cars up to the actual cash value of the car.
To activate this coverage, be sure to pay for the entire rental with your Ink Business Preferred card and decline the collision insurance provided by the rental agency.
Free Employee Cards
This card is a great choice for small business owners because you can get cards for your employees at no additional charge.
The annual fee for this card is
Extended Warranty Protection
When you purchase an item with your card, it extends the U.S. manufacturer’s warranty by an additional year on eligible warranties of 3 years or less.
How To Earn and Redeem Your Chase Points
While the Ink Business Preferred card is excellent at earning points thanks to its multiple 3x categories, there are actually tons of other great ways to earn lots of Chase Ultimate Rewards points, as well!
When it comes to redeeming your points, fortunately, you’ve got no shortage of options. However, not all redemption options provide the same level of value, so check our guide to the best ways to redeem your points for max value.
Our favorite way to redeem Chase Ultimate Rewards points is for luxurious business class flights and hotel stays. You too can book these redemptions for pennies on the dollar by using one of the many Chase transfer partners.
Alternatives to the Ink Business Preferred Card
American Express® Business Gold Card
This gives you the potential to earn 600,000 Membership Rewards points if you hit the spending threshold each year.
So, if you’re intrigued by these business offerings, you like the card’s earning structure, or you prefer the American Express Membership Rewards ecosystem, this could be the card for you.
See our direct comparison of these 2 cards: Ink Business Preferred Card vs. Amex Business Gold Card.
Ink Business Unlimited® Credit Card
If you’re looking for a credit card in the Ultimate Rewards ecosystem, but prefer one with no annual fee and a simple rewards earning structure, then it is likely that you’ll love the Ink Business Unlimited card. With it, you’ll earn 1.5% back on all purchases you make, no matter what category they fall in, with no limit to how much you can earn.
Our Ink Business Preferred Card vs. Ink Business Unlimited Card review compares these 2 cards in detail.
We’ve also compared the Ink Business Preferred card to a number of other popular cards:
- Ink Business Preferred Card vs. The Business Platinum Card® from American Express
- Ink Business Preferred Card vs. Chase Sapphire Reserve®
- Ink Business Preferred Card vs. Ink Business Cash® Credit Card
- Ink Business Preferred Card vs. New Business Card! Ink Business Premier℠ Credit Card
For rates and fees of the American Express® Business Gold Card, click here.
Frequently Asked Questions
This card offers small business owners the opportunity to earn points for spending in multiple categories.
Cardmembers earn 3 points per $1 for purchases up to $150,000 in categories such as travel, internet, phone, cable, shipping, and advertising through social media or search engines. All other purchases are worth 1 point per $1.
Points can be redeemed through the Chase reward portal for travel, gift cards, statement credit, direct deposit, or on Amazon.com.
Small business owners who don’t mind the
The Ink Business Preferred card and other Chase Ultimate Rewards credit cards can be used in combination to cover all bonus categories. Then points can be pooled into 1 Ultimate Rewards account for redemption.
The annual fee is
No, the card has a variable APR (see card fees above).
There are several great benefits of the Ink Business Preferred card including:
- Cell phone protection
- Employee cards at no additional cost
- Purchase protection and extended warranty protection
- Rental car insurance
- Roadside assistance
- Trip cancellation and interruption insurance
The value of your Chase Ultimate Rewards points will vary based on how you use them. When you redeem your points as a statement credit, or for cash-back, you’ll receive a value of 1 cent per point.
When you redeem your points through the Chase Ultimate Rewards travel portal, your points will be worth 25% more at 1.25 cents per point.
However, one of the best ways to use your points is by strategically using one of the Chase travel transfer partners, like World of Hyatt, where you can often get over 2 cents per point in value.
To redeem your points, log into your Chase credit card account and click on Ultimate Rewards. From this site, you also have the option to switch your view to other Chase credit cards in the program or to transfer points between cards.
As long as your account is active and in good standing, your Ultimate Rewards points will not expire.
No, the card has no foreign transaction fees.
The Ink Business Cash card earns cash-back as points in the Ultimate Rewards program.
Earn 5% cash-back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet, and cable TV services each account anniversary year. Also, earn 2% cash-back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.
The maximum earning cap is higher for the Ink Business Preferred card, but the Ink Business Cash card offers a 0% intro APR for 12 months on purchases and balance transfers (then a variable APR; see issuer’s terms).
Both cards can be used simultaneously to take advantage of all the benefits.
Yes, the card is for business owners. However, you may be surprised at what qualifies as a business. You don’t need to have a big corporation or even employees to be a business. Even something as simple as selling crafts on Etsy can be considered a business. If you aren’t sure if you should apply for a business credit card, check out our guide to applying for a small business credit card.
Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. No responsibility will be taken by the bank advertiser for these comments.