Chase Ink Business Preferred® Review for 2023
This article is part of a larger series on Best Small Business Credit Cards.
Chase Ink Business Preferred® is an excellent travel rewards card for business owners who don’t want to pay a high annual fee. It allows you to maximize rewards, access unique additional perks like cellphone insurance, and add employee cards at no additional cost.
If you wish to compare one card over another, select a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
Ink Business Preferred® Credit Card
BEST FOR:
Maximizing travel rewards at a lower annual fee
Intro APR
N/A
Regular APR
21.24%-26.24% Variable
Annual Fee
$95
Credit Needed
- Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
- Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Member FDIC
Pros
- Reward points are worth 25% more when you redeem for travel through the Chase Ultimate Rewards® card
- Comprehensive travel and purchase protection
- No foreign transaction fees
Cons
- No interest-free financing option on both purchases and balance transfers
- With annual fee
- Need to make extremely large purchases to qualify for the sign-up bonus
- Cellphone protection: Get up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees listed on your monthly cellphone bill
- Purchase protection: Can cover your new purchases for 120 days against damage or theft of up to $10,000 per claim and $50,000 per account
- Extended warranty protection: You can extend the period of the United States manufacturer’s warranty by an additional year, on eligible warranties of three years or less.
- Fraud monitoring: Chase will help keep your accounts safe with account alerts―and you can choose how you’d like to receive them
- Free employee cards: You can create employee cards at no additional cost, and lets you set individual spending limits―helping you earn rewards even faster
Intro APR
N/A
Regular APR
21.24%-26.24% Variable
Annual Fee
$95
Credit Needed
- Earn 100k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
- Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Member FDIC
Pros
- Reward points are worth 25% more when you redeem for travel through the Chase Ultimate Rewards® card
- Comprehensive travel and purchase protection
- No foreign transaction fees
Cons
- No interest-free financing option on both purchases and balance transfers
- With annual fee
- Need to make extremely large purchases to qualify for the sign-up bonus
- Cellphone protection: Get up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees listed on your monthly cellphone bill
- Purchase protection: Can cover your new purchases for 120 days against damage or theft of up to $10,000 per claim and $50,000 per account
- Extended warranty protection: You can extend the period of the United States manufacturer’s warranty by an additional year, on eligible warranties of three years or less.
- Fraud monitoring: Chase will help keep your accounts safe with account alerts―and you can choose how you’d like to receive them
- Free employee cards: You can create employee cards at no additional cost, and lets you set individual spending limits―helping you earn rewards even faster
When grading small business travel rewards credit cards like the Chase Ink Business Preferred®, we first consider ongoing rewards, introductory rewards, and additional features. We also consider the annual fee and its introductory and ongoing annual percentage rates (APRs).
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 22 | 25 |
Introductory Rewards | 23 | 25 |
Additional Features | 25 | 25 |
Annual Fee | 7 | 15 |
Introductory APR | 0 | 5 |
Ongoing APR | 3 | 5 |
Total Score | 80 | 100 |
Who Chase Ink Business Preferred® Is Best For
- Those who travel frequently: It lets you earn 3 points per dollar spent on the first $150,000 on selected categories, including travel.
- Those that purchase advertising on social media sites: It’s ideal for businesses that regularly buy advertising through either Facebook or Google because it offers generous rewards for online ad purchases.
- Those who need employee cards: It allows you to add employee cards for free, set individual employee spending limits, and monitor business-related expenses.
See our recommended alternatives below if this card isn’t the best fit for your business.
Chase Ink Business Preferred® Fees
APR
- Introductory: None
- Ongoing, balance transfer and My Chase LoanSM: 21.24% to 26.24% variable—adjusts with the prime rate
- Cash advance: 29.99% variable—adjusts with the prime rate
- Penalty: Up to 29.99% variable—adjusts with the prime rate; default APR may be applied to your account indefinitely if you fail to make a minimum payment by the date and time it’s due or make a payment that’s returned unpaid
Fees
- Minimum interest charge: None
- Annual: $95
- My Chase PlanSM (fixed finance charge): Monthly fee of 1.72% of the amount of each eligible purchase transaction or amount selected to create a My Chase Plan. The fee will be determined when each My Chase Plan is created and will remain the same until it’s paid in full
- Balance transfer: Either 5% of the amount of the transfer or $5, whichever is greater
- Cash advance: Either 5% of the amount of the advance or $15, whichever is greater
- Foreign transaction: None
- Late and returned payments: $40
- Return check: None
Your due date is at least 20 days after the close of each billing cycle.
- Online or Chase Mobile® App: Go to chase.com/paycard to sign in and make a payment online. You can also enroll in automatic payments through the website or mobile app. When you enroll, specify the deposit account from which your payment will be deducted and how much you’d like to pay, such as the full statement balance, minimum payment due, or any fixed amount.
- Phone: Call the automated phone service at (800) 436-7958.
- Mail or money order: Include your name and full account number on your check or money order—and don’t send cash. Mail your payment to the following address:
Cardmember Services
PO Box 6294
Carol Stream, IL 60197-6294
Alternatively, you can send your payment via overnight mail to the following address:
Chase Card Services
201 N. Walnut St.
Del-0153
Wilmington, DE 19801
- Western Union: Use the Code City WALNUT when you pay via Western Union. Note that it may take up to seven days for the payment to be reflected in your account.
- Nearest Chase ATM or branch: Find the nearest Chase ATM or branch.
Chase Ink Business Preferred® Rewards
- 100,000 bonus points when you spend $8,000 on purchases in the first three months after opening an account (worth $1,000 cash back or $1,250 in travel rewards when redeemed through Chase Ultimate Rewards®)
- 3 points per $1 on the first $150,000 spent in combined purchases in four categories for each account anniversary year; categories include travel, shipping purchases, advertising on search engines and social media sites, and expenses on internet, cable, and phone services
- Unlimited 1 point per $1 on all other purchases; points don’t expire for as long as your account is active
- 40,000 points for every business referred that gets approved after applying online
Points are worth 25% more after redeeming for travel through Chase Ultimate Rewards (for example, 100,000 points are worth $1,250 towards travel). You can also do a 1:1 point transfer to participating frequent travel programs (discussed further below).
You can redeem your rewards for travel, cash back, or gift cards. The redemption value for cash back is $0.01 per point, meaning every 100 points equals $1 in redemption value. When redeeming your points through travel booked through Chase Ultimate Rewards, each point is worth 1.25 cents, meaning every 100 points equals $1.25 in redemption value.
1:1 Point Transfer
You can transfer earned Chase Ultimate Rewards points to participating in frequent travel programs at full 1:1 value—meaning one Chase Ultimate Rewards point equals one partner mile/point. Below are the participating airline travel and hotel travel partners:
Airline Travel Partner | Hotel Travel Partners |
|---|---|
|
|
Chase Ink Business Preferred® Features
Travel and Purchase Coverage
- Trip cancellation/trip interruption insurance: If your trip is canceled or cut short by sickness, severe weather, and other covered situations, you can be reimbursed up to $5,000 per person and $10,000 per trip for your pre-paid, non-refundable travel expenses—this includes passenger fares, tours, and hotels.
- Roadside dispatch: Call (800) 847-2869 anytime to dispatch the roadside assistance you need—from a tow, jump-start, and tire change to lockout service, winching, or gas delivery. Note that roadside service fees will be provided when you call and are billed to this card.
- Auto rental collision damage waiver: You can decline the rental company’s collision insurance and charge the entire rental cost to this card. Take note that coverage is primary when renting for business purposes and can provide reimbursement of up to the actual cash value of the vehicle for theft and collision damage for most cars in the United States and abroad.
- Cellphone protection: Get up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees listed on your monthly cellphone bill if you pay it with this card. A maximum of three claims in 12 months with a $100 deductible per claim is available.
- Purchase protection: Cover your new purchases for 120 days against damage or theft of up to $10,000 per claim and $50,000 per account.
- Extended warranty protection: You can extend the period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less.
Card Management
- Chase Ink®: The brand gives you 24/7 access to view account details and quarterly reports of up to 24 months of statement details and more.
- Separate business and personal expenses: You can track expenses and maintain records for tax reports and other business needs easily by integrating this card with bookkeeping software to simplify accounting.
- Fraud monitoring: Chase will help keep your accounts safe with account alerts—and you can choose how you’d like to receive them.
- Free employee cards: You can request employee cards at no additional cost and set individual spending limits—helping you earn rewards even faster.
Chase Ink Business Preferred® Alternatives
Capital One® Spark® Miles Select for Business
Capital One® Spark® Miles Select for Business
BEST FOR:
Travel rewards and annual spending less than $19,000
Intro APR
None
Regular APR
17.99% to 23.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent, Good
- Introductory reward worth $200 in travel after you spend $3,000 within the first three months
- 1.5x miles per $1 spent
- 5x miles on hotel and rental car bookings through the issuer
- Issue employee cards for free
Pros
- No foreign transaction fees
- Interest-free financing on purchases
Cons
- No 0% APR balance transfer offer
- Limited list of airline partners
- Purchase assurance: Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12-month period.
- Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase.
- Travel medical emergency assistance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.
Intro APR
None
Regular APR
17.99% to 23.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent, Good
- Introductory reward worth $200 in travel after you spend $3,000 within the first three months
- 1.5x miles per $1 spent
- 5x miles on hotel and rental car bookings through the issuer
- Issue employee cards for free
Pros
- No foreign transaction fees
- Interest-free financing on purchases
Cons
- No 0% APR balance transfer offer
- Limited list of airline partners
- Purchase assurance: Most purchases made entirely with your card are covered if damaged or stolen within 90 days from the date of purchase. Coverage is limited to $10,000 per claim and $50,000 per cardholder account per 12-month period.
- Extended warranty coverage: Doubles the original warranty time period and duplicates the coverage of the original manufacturer’s warranty up to a maximum of 12 months on most items you purchase.
- Travel medical emergency assistance: Provide referrals to medical services if you have a medical emergency while traveling. You’re covered if you’re 100 or more miles away from home and from the day you leave until midnight of the 60th day of your trip, or the day you return to your city of residence, whichever is sooner.
- Is a viable alternative for those wanting to earn unlimited travel rewards without paying an annual fee
- Lets you earn unlimited 1.5x miles on all purchases regardless of spending categories
- Does not charge annual, balance transfer, and foreign transaction fees
- Has a 0% introductory APR on purchases for the first nine billing cycles
- Is in our roundup of the:
Chase Ink Business Unlimited®
Ink Business Unlimited® Credit Card
BEST FOR:
Those who want fixed-rate 1.5% cash back on all purchases
Intro APR
0% Intro APR on Purchases
Regular APR
18.49% - 24.49% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
Intro APR
0% Intro APR on Purchases
Regular APR
18.49% - 24.49% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
- Member FDIC
Pros
- With interest-free financing option on purchases
- Fixed unlimited cash back on all purchases
Cons
- Does not have interest-free financing option on balance transfers
- Charges high foreign transaction fees
- Auto rental collision damage waiver: You can decline the company’s collision insurance and charge the entire rental cost to this card.
- Travel and emergency assistance services: Call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance.
- Purchase protection: You can ensure that your new purchases are covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Zero liability protection: Chase will not hold you responsible for unauthorized transactions made with both your card and your account information.
- Cellphone protection: Receive up to $1,000 per claim in cellphone protection against covered theft or damage for you and your employees included in your monthly cellphone bills when using your card to pay for it. This applies for a maximum of three claims within a 12-month period and will charge a $100 deductible per claim.
- Is ideal if you want an alternative Chase card that offers 0% APR on purchases for the first 12 billing cycles
- Lets you earn unlimited 1.5% cash back on all business-related purchases
- Does not charge annual fees
- Is one of our:
You can also check our list of the best Chase business credit cards for more options.
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
BEST FOR:
0% APR for 15 billing cycles
Intro APR
Regular APR
19.24% - 28.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 19.24% - 28.24%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Intro APR
Regular APR
19.24% - 28.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Introducing the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® the card that gives back on all your eligible business needs.
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 19.24% - 28.24%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
- Is a great choice if you want a longer 0% introductory period for purchases and balance transfers (for the first 15 billing cycles)
- Does not charge annual fees
- Lets you earn 5% cash back on prepaid hotels and car rentals directly booked in the Travel Rewards Center, 3% cash back on eligible purchases at gas and electric vehicle (EV) charging stations, office supply stores, cell phone service providers, and restaurants, and 1% cash back on all other eligible purchases.
- Is on our lists of the:
Bottom Line
Chase Ink Business Preferred® is a good option if you travel frequently and if part of your business expenses come from advertising through either Facebook or Google. While it doesn’t have an interest-free financing option on both purchases and balance transfers, it doesn’t charge foreign transaction fees. What’s more, you can earn 3 points per $1 on the first $150,000 spent in combined purchases in four categories for each account anniversary year.
