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December 4, 2016

Ink Business Preferred Review: Why $95 Worth It

Editorial Note: This content is not provided by the card issuer. Opinions expressed here are author's alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer.
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Thinking of a new business credit card? Read this review to see why the Ink Business Preferred $95 annual fee is worth considering.

Overall Score

4.3

Rewards

4.5

Fees

3.0

Benefits

5.0

Airline Transfer Partners

4.5
5-point scale (the higher, the better)

Pros and Cons

  • Earn 80,000 bonus points
  • Earn 3 points per $1 in select business categories
  • Protection benefits
  • Airline transfer partners
  • $95 annual fee
  • No introductory APR

Bottom Line

Excellent credit card for the modern small business

Chase just introduced a new member to their business card lineup - the Chase Ink Business Preferred.

This replaces the old favorite Chase Ink Plus (which is no longer available to new applicants), and we think it’s even better.

For one, the sign-up bonus is larger. And the new rewards structure will benefit tech-savvy businesses with higher earning potential. It also comes with a laundry list of protections and benefits, including a couple of new ones.

Intrigued? We’ve got the details below.

In this in-depth review, we'll cover the 10 reasons why we like the card, and 3 reasons you might consider a different card.

10 Reasons Why We Like It

  1. 80,000 Bonus Points: This is our top reason why you would consider the card. You earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.

  2. Earn More Points: It's not just a travel card. We’re loving the new reward structure too. Here’s what you get:

    • Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year.
    • Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.

    If your business has high expenses and you reach the maximum of $150,000 in the 3x categories, that’s 450,000 points. This is worth $5,625 when redeeming for travel through Chase Ultimate Rewards.

    This earning potential is a lot more than what the Chase Ink Plus (no longer available to new applicants) offered. And the bonus categories are aligned for growing your business. Generally speaking, the more you advertise, the more your business can grow. Likewise, the more you spend on traveling to visit suppliers and clients, the more opportunities your business has to grow.

    © CreditDonkey

    Tip: Advertising online using Google and Facebook is a great way to grow your business. You can use Facebook to advertise to customers near your business.

  3. Redeem Points for More Value: Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards (i.e., 10,000 points will be worth $125). Effectively, this means that you receive a 20% discount when booking on Chase Ultimate Rewards.

  4. Transfer Points: Points can be transferred on a 1:1 basis to Chase’s airline and hotel partners, including: United, Southwest, Air France, Singapore Airlines, Hyatt, and Marriott. This is one of the best features of Chase’s premium cards as you can make your points worth even more.

  5. No Foreign Transaction Fee: Use this card when you visit important suppliers and clients out of the country. There is no need to pay that pesky 3% foreign transaction fee that many other credit cards charge.

  6. Employee Cards at No Additional Cost: You can add employee cards with no extra annual fee, and the rewards program will apply to those cards as well. You can set a spending limit for each employee card and be notified whenever an employee makes a purchase with their card.

  7. Cell Phone Protection: This is a pretty cool new feature. If you pay your cell phone bills with this card, you and your employees listed on your phone bill will be protected against covered cell phone theft or damage. You can get up to $600 per claim and 3 claims in a 12 month period (there’s a $100 deductible per claim).

  8. Travel protections:

    © CreditDonkey

    • Trip Cancellation / Trip Interruption Insurance: If you must cancel or cut short a trip due to a covered circumstance (such as illness or severe weather), you can be reimbursed up to $5,000 per trip for non-refundable travel expenses you’ve already paid for (such as flights, hotels, and tours).

    • Trip Delay Reimbursement: If your flight is delayed more than 12 hours or you need an overnight stay, you can be reimbursed for unreimbursed expenses occurred (like meals and hotel room), up to $500 per ticket.

    • Baggage Delay Insurance: If your baggage is delayed by over 6 hours, you can be reimbursed for necessities (like toiletries and clothing) up to $100 a day for 5 days.

    • Lost Luggage Reimbursement: Or if any of your or your immediately family’s checked or carry-on luggage is lost or damaged by the carrier, you are covered up to $3,000 per passenger.

  9. Shopping protections:

    • Purchase Protection: New eligible purchases are covered against damage or theft up to 120 days and up to $10,000 per claim ($50,000 per account).

    • Extended Warranty Protection: You get an additional year of warranty on eligible products if the U.S. manufacturer’s warranty is 3 years or less.

    • Return Protection: If you want to return something but the store won’t take it back, you can be reimbursed for eligible items within 90 days of purchase, up to $500 per item and $1,000 per year.

  10. Auto Rental Collision Damage Waiver: You get primary coverage for theft and collision damage when you rent most cars for business purposes. This means you can decline the rental company’s insurance. Reimbursement is up to the actual cash value of the vehicle for most cars in the U.S. and abroad.

Why You Might Consider Another Card

  • $95 Annual Fee: There is a $95 annual fee. In our opinion, this annual fee is more than reasonable for all the rewards, benefits, and high earnings potential of this card.

  • No Introductory APR: The Ink Business Preferred does not offer an introductory APR offer. This may not be ideal for businesses that have not established a steady cash flow and may need breathing room occasionally.

    Tip: If you are not sure about your cash flow situation, check out the Chase Ink Business Cash. It has no annual fee and an introductory APR for 12 months for both purchases and balance transfers.

  • Categories: In our opinion, the bonus 3x categories of travel, shipping, Internet/cable/phone, and advertising on social media and search engines are practical and will apply to most modern small businesses. But if your business doesn’t spend much on any of these, you may be better off with another card.

How It Compares

© CreditDonkey

Chase Ink Business Cash: The Ink Business Cash is the no annual fee business credit card.

However, the Ink Business Cash does not allow you to transfer points to airline and hotel frequent travel programs. You are able to use points to book travel on Chase Ultimate Rewards, but only at the rate of 1 cent = 1 point (whereas your points are worth 25% more with the Ink Business Preferred).

On the plus side, the Ink Business Cash card does offer an introductory APR for 12 months on purchases and balance transfers, so it’s a good choice for new businesses that may not have a steady cash flow yet.

 

Ink Business Preferred

Ink Business Cash

 

Interest Rates and Fees

Introductory APR for PurchasesN/A0% introductory APR for 12 months
Introductory APR for Balance TransfersN/A0% introductory APR for 12 months
Purchase APR16.99% to 21.99% Variable based on your creditworthiness and other factors14.24% to 20.24% Variable based on your creditworthiness and other factors
Balance Transfers APR16.99% to 21.99% Variable based on your creditworthiness and other factors14.24% to 20.24% Variable based on your creditworthiness and other factors
Annual Fee$95 annual fee$0 annual fee
 

Benefits and Features

Cash Back Deal Introductory Bonus Cash Back: Earn $300 bonus cash back when you spend $3,000 on purchases in the first 3 months from account opening.
Points DealIntroductory Bonus Reward Points: Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards® 
Cash Back Cash Back Rewards: 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.
Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.
Unlimited 1% cash back on all other card purchases.
PointsPoint Rewards: Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn. 
Airline Transfer PartnersAirline Transfer Partners: Airline transfer partners include United Airlines, Southwest Airlines, British Airways, Air France, Korean Air, Singapore Airlines, and Virgin Atlantic. 

Ink Business Preferred: Pricing information including interest rates, benefits and fees were obtained on July 17, 2017 from published websites and are believed to be accurate, but not guaranteed.

Ink Business Cash: Pricing information including interest rates, benefits and fees were obtained on July 17, 2017 from published websites and are believed to be accurate, but not guaranteed.

Disclaimer: The information for the Ink Business Preferred Credit Card and Ink Business Cash Credit Card have been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

Chase Sapphire Preferred: The Chase Sapphire Preferred is a consumer card and is a very popular choice for travelers. Just like with the Ink Business Preferred, points can be transferred 1:1 to Chase travel partners, and points are worth 25% more when booking travel on Chase Ultimate Rewards (which means 50,000 bonus points are worth $625 toward travel).

 

Ink Business Preferred

Chase Sapphire Preferred

 

Interest Rates and Fees

Purchase APR16.99% to 21.99% Variable based on your creditworthiness and other factors16.99% to 23.99% Variable based on your creditworthiness and other factors
Balance Transfers APR16.99% to 21.99% Variable based on your creditworthiness and other factors16.99% to 23.99% Variable based on your creditworthiness and other factors
Annual Fee$95 annual feeIntroductory Annual Fee of $0 the first year, then $95
 

Benefits and Features

Points DealIntroductory Bonus Reward Points: Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®Introductory Bonus Reward Points: Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
TravelTravel Rewards: Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
1:1 point transfer to leading airline and hotel loyalty programs
Travel Rewards: 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide.
1:1 point transfer to leading airline and hotel loyalty programs
PointsPoint Rewards: Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.Point Rewards: 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide
Restaurant Dining Rewards: 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide

Ink Business Preferred: Pricing information including interest rates, benefits and fees were obtained on July 17, 2017 from published websites and are believed to be accurate, but not guaranteed.

Disclaimer: The information for the Ink Business Preferred Credit Card has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

AMEX Business Platinum: The Business Platinum® Card from American Express OPEN is a popular business charge card among frequent travelers. But is it worth the $450 annual fee? Take a look at the side-by-side comparison below:

 

Ink Business Preferred

American Express Business Platinum

 

Interest Rates and Fees

Purchase APR16.99% to 21.99% Variable based on your creditworthiness and other factorsN/A
Balance Transfers APR16.99% to 21.99% Variable based on your creditworthiness and other factorsN/A
Annual Fee$95 annual fee$450 annual fee
 See Rates & Fees
 

Benefits and Features

Points DealIntroductory Bonus Reward Points: Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®Introductory Bonus Reward Points: Welcome Offer: Earn up to 75,000 Membership Rewards® points.
Earn 50,000 Membership Rewards® points after you spend $10,000 and an extra 25,000 points after you spend an additional $10,000 all on eligible purchases within your first 3 months of Card Membership.
TravelTravel Rewards: Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
1:1 point transfer to leading airline and hotel loyalty programs
AirlineAirline Rewards: 1:1 point transfer to leading airline and hotel loyalty programsAirline Rewards: Get 5X Membership Rewards® points on flights on amextravel.com.
Bonus Airline Rewards Bonus Airline Rewards: 35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year.
You can also receive 35% points back on all First and Business class flights, with all airlines available through American Express Travel.
HotelHotel Rewards: 1:1 point transfer to leading airline and hotel loyalty programsHotel Rewards: Get 5X Membership Rewards® points on prepaid hotels on amextravel.com.
PointsPoint Rewards: Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.Point Rewards: Get 50% more Membership Rewards® points. That's 1.5 points per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.
Airline Status Airline Status: Get up to $200 in statement credits per calendar year on a selected airline for incidentals such as baggage fees, lounge day passes, and more.
Access to 5 airport lounge networks including The Centurion® lounge network, The International American Express lounges, Delta Sky Club® lounges, Priority Pass(TM) Select, and Airspace Lounge. Enrollment required for Priority Pass Select.
Hotel Status Hotel Status: Enroll for complimentary SPG Gold Status (Starwood Preferred Guest Gold Preferred Guest).
Enroll for complimentary Hilton Honors Gold Status.

Fine Hotels & Resorts - book your stay through American Express FHR at one of 600 luxury hotels and you may get a room upgrade upon arrival, daily continental breakfast for 2, guaranteed 4pm late checkout and a special amenity unique to each property.
Discount Discount: The OPEN Savings benefit is built into Business Cards from American Express OPEN and provides either a 5% discount or 2 additional Membership Rewards® points for each eligible dollar spent at OPEN Savings merchants. Terms and limitations apply.
Airline Transfer PartnersAirline Transfer Partners: Airline transfer partners include United Airlines, Southwest Airlines, British Airways, Air France, Korean Air, Singapore Airlines, and Virgin Atlantic.Airline Transfer Partners: Airline transfer partners include Delta, Hawaiian Airlines, Aeromexico, Air Canada, Air France, Emirates, Cathay Pacific (Asia Miles), Virgin Atlantic, Singapore Airlines, Etihad, Alitalia, All Nippon Airways and more.

Ink Business Preferred: Pricing information including interest rates, benefits and fees were obtained on July 17, 2017 from published websites and are believed to be accurate, but not guaranteed.

Disclaimer: The information for the Ink Business Preferred Credit Card has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

Bottom Line

To recap, here are the pros and cons when considering this card:

Pros:

  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening
  • Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
  • Ability to transfer 1:1 to frequent travel partner programs or book travel at a discount on Chase Ultimate Rewards
  • Free employee cards

Cons:

  • No introductory APR
  • $95 annual fee

We think the Ink Business Preferred is a great addition to Chase’s family of cards. It’s a superior choice for almost any business. We love the reward structure of 3x points on the most useful categories for businesses. And the 80,000 bonus points is jaw-dropping for a card whose annual fee is only $95. Just that alone is practically enough to justify the annual fee for 10 years.

The only thing we suggest is that if your business does not yet have a steady cash flow, you may want to look at another card, as this one offers no introductory APR.

Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Chase.

Disclaimer: This content was first published on December 4, 2016. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check Chase website for updated information.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This site may be compensated through the Advertiser's affiliate programs.

Disclaimer: The information for the Ink Business Preferred Credit Card and Ink Business Cash Credit Card have been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

More from CreditDonkey:


Chase Ultimate Rewards Review


Redeem Chase Ultimate Rewards


Chase Ultimate Rewards Transfer Partners

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Compare Ink Business Preferred to:

Compare Ink Business Preferred vs Chase Sapphire Preferred

Chase Sapphire Preferred® Card

Compare Ink Business Preferred vs American Express Business Platinum

The Business Platinum® Card from American Express OPEN

Compare Ink Business Preferred vs SimplyCash Plus

SimplyCash® Plus Business Credit Card from American Express


Ink Business Cash Review

Read this in-depth Ink Business Cash review before you apply. With no annual fee, small business owners can earn cash rewards fast, but is it right for you?
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