Get More Points for Business Purchases with the Chase Ink Business Preferred Credit Card

By Christina Majaski. Last updated 17 July 2017. 0 comments

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The Chase Ink Business Preferred Card offers a program that allows small business owners an opportunity to earn rewards for their business purchases. (See also: Best Credit Cards for Small Businesses)

How This Card Works

This card awards 3x points per dollar on the first $150,000 spent in combined purchases each year in the following categories: travel, shipping, internet, cable, phone services, and advertising purchases made with social media sites and search engines (then 1 point). Earn 1 point per $1 spent on all other purchases. 

Bonus offer. Get a bonus of 80,000 points if you make $5,000 in purchases with your card in the first 3 months of account opening, which can be worth $1,000 in travel if you redeem through Chase Ultimate Rewards.

You can redeem your points for cash, gift cards, and even merchandise, with each point typically worth one cent. If you redeem your points for travel through Chase Ultimate Rewards, you receive 25% more value for each point.

Other Benefits

Free employee cards. Add employee cards to your account at no additional charge. Your employees can make business purchases with limits that you set, and can earn points for the company at no extra cost to you.

Cell phone protection. Get up to $600 per claim in cell phone protection against covered theft or damage for you and your employees listed on your monthly cell phone bill.

Trip cancellation insurance. Receive trip cancellation and trip interruption insurance if your trip is canceled or cut short. Get reimbursed for prepaid, non-refundable travel expenses which often include passenger fares, tours, and hotels.

Purchase protection. Your purchases are protected against damage or theft up to 120 days, plus extended warranty. 

Costs

  • $95 Annual Fee
  • 16.99%-21.99% Variable APR
  • 5% Balance Transfer Fee (minimum $5)
  • $0 Foreign Transaction Fee

Considerations

Annual fee of $95. You need to make sure you earn enough rewards through spending to cover the cost of carrying the credit card.

No introductory APR. If you need to transfer a balance from another credit card or plan on making a large purchase that requires time to pay down, you can save money on interest with a card that offers a 0% intro APR, even if it means choosing a consumer card instead. (See also: When to Choose a Business Card Over a Consumer Card)

Cap on bonus categories. If your business expenses are typically more than $150,000 per year in any category, you can lose out on bonus points. 

Who This Card Is Best For

This card is best for small business owners whose expenses fall largely in the bonus categories and can use the Chase Ultimate Rewards portal to redeem the points for travel at a 25% discount. Further, because there isn’t a foreign transaction fee, it’s a great card for small business owners whose spending includes international transactions or traveling abroad.

Info about the Chase Ink Business Preferred Card has been collected independently by Wise Bread. The issuer did not provide the details, nor is it responsible for their accuracy.

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