Chase Ink Business Preferred^SM Credit Card Review 2019

The Chase Ink Business Preferred^SM card offers a solid one-two punch: It pays top rewards on travel purchases and charges an annual fee several hundred dollars less than its competitors. What’s more, its introductory rewards are worth $1,000 in travel. However, you should avoid carrying a balance as its ongoing APR is comparatively high.

The best business credit cards for travel pay up to 5x points on travel spending. They also offer introductory rewards worth $500 or more and introductory 0% APR on purchases and balance transfers for up to 12 months. This Chase card offers the best introductory rewards among travel rewards cards and the best ongoing travel rewards relative to its $95 annual fee. After assessing its costs and benefits, we give Chase Ink Business Preferred^SM 4.5 stars out of 5 possible.

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How We Evaluated the Chase Ink Business Preferred^SM Card

The Chase Ink Business Preferred^SM card offers excellent bonus category rewards on travel, shipping, telecommunications services, and online advertising. Its introductory rewards are worth 80,000 points, compared to the 100,000 points offered by its nearest competitor, the American Express Business Platinum® Card, which carries a $595 annual fee (see rates & fees).

We considered the following criteria when grading this small business credit card that offers travel rewards:

• Ongoing rewards: The points you’ll earn by using the Chase Ink Business Preferred^SM card. You’ll earn exceptional rewards on travel, shipping, telecommunications services and online advertising.
• Introductory rewards: The points you’ll earn by reaching minimum spending requirements over the first few months of card ownership. The Chase Ink Business Preferred^SM card offers 80,000 points after you spend $5,000 within three months.
• Annual fee: How much you’ll pay each year to own the card. The Chase Ink Business Preferred^SM card charges an annual fee of $95.
• Additional benefits: Whether the card comes with free perks that may increase its value. This Chase business credit card offers free perks like rental car insurance similar to many other cards, but it also comes with a unique benefit — cellphone insurance.
• Introductory APR: Whether the card offers a period of no-interest financing on purchases or balance transfers. The Chase Ink Business Preferred^SM card offers no introductory rewards.
• Ongoing APR: How much it will cost to finance purchases on the card. This Chase business credit card charges an ongoing APR as low as 17.99%, which is about five percentage points higher than the best ongoing APR among travel rewards cards.

The Chase Ink Business Preferred^SM card is one of the best small business credit cards available today. It offers top notch rewards that are outsized compared with cards that charge a similar annual fee. This card is also part of Chase’s Ultimate Rewards program, which means your redemption rate could reach 3.75% per dollar spent or more when you redeem points for travel online at Chase.

How We Evaluate Travel Rewards Business Credit Cards

When grading travel rewards business credit cards like the Chase Ink Business Preferred^SM card, we weight ongoing rewards, introductory rewards, and additional features heaviest. We also take into account the annual fee, introductory no-interest period, and ongoing APRs.

We graded the Chase Ink Business Preferred^SM card using the following methodology:

Based on our 5-star rating system where 20 points equals 1 star, the Chase Ink Business Preferred^SM card is one of the best small business credit cards available. In cases where cards receive perfect scores in most categories, we may award bonus points to boost the card’s rating.

The Chase Ink Business Preferred^SM card offers one of the best introductory rewards programs on the market, which is why it earns bonus points in that section of the grading criteria. The Capital One® Spark® Miles for Business offers 50,000 miles after you spend $4,500 within the first three months.

Who Chase Ink Business Preferred^SM is Right For

The Chase Ink Business Preferred^SM card is best for owners who have significant travel expenses, but don’t need travel perks like airport lounge access or free expedited airport security screening. It’s also ideal for businesses that regularly purchase advertising through Facebook or Google, as this card offers generous rewards on online ad buys.

Chase Ink Business Preferred^SM Costs

The Chase Ink Business Preferred^SM credit card charges a high ongoing APR starting at 17.99%. If you have to carry a balance, choose a travel rewards card with a significantly lower APR like the Bank of America® Business Advantage Travel Rewards World Mastercard®, which charges an ongoing APR as low as 12.99%.

Financing costs and fees on the Chase Ink Business Preferred^SM card include:

• Introductory APR: None
• Ongoing APR: 17.99% to 22.99%, which will adjust with the prime rate
• Annual fee: $95
• Balance transfer fee: Either 5% of the amount of the transfer or $5, whichever is greater
• Foreign transaction fee: None
• Cash advance fee: 5% of the advance or $15, whichever is greater
• Late payment fee: $39
• Returned payment fee: $39
• Penalty APR: 29.99% if you fail to make a payment by the due date or make a payment that is returned. The penalty APR may apply indefinitely.

The Chase Ink Business Preferred^SM card is ideal for overseas travel because it charges no foreign transaction fee on purchases made outside the United States. Most travel credit cards waive this fee, but many other small business credit cards charge up to 3% per transaction. The annual fee is similar to what the Capital One® Spark® Miles for Business card charges ($95, waived the first year), but less than the $295 annual fee you’ll pay with the American Express® Business Gold Card (see rates & fees).

How to Avoid Paying Interest on Chase Ink Business Preferred^SM

Your payment due date on the Chase Ink Business Preferred^SM card is at least 20 days after the close of the business cycle (when you receive your bill). Pay your balance in full by the due date to avoid interest charges. This card doesn’t carry a minimum interest charge.

The potential due date on this Chase business credit card could be shorter than other cards, like the U.S. Bank FlexPerks® Business Travel Rewards, which has a payment due date at 24 to 30 days after the close of the business cycle.

Chase Ink Business Preferred^SM Rewards

The Chase Ink Business Preferred^SM card offers bonus category rewards on travel, shipping purchases, telecommunications services, and advertising purchases. It also offers best-in-class introductory rewards. If travel is one of your company’s biggest monthly expenses, consider the American Express Business Platinum, which pays 5x on flights and hotels booked through the issuer.

Introductory Rewards

You can earn the following introductory rewards when using your card:

• 80,000 Ultimate Rewards points when you spend $5,000 within the first three months after account opening

The introductory rewards on this Chase business credit card beat out other travel rewards credit cards, including the CitiBusiness® / AAdvantage® Platinum Select® World Mastercard®, which offers 70,000 points when you spend $4,000 within three months.

Ongoing Rewards

You will earn the following ongoing rewards when using your card:

• 3x Ultimate Rewards points on the first $150,000 spent in combined purchases each account anniversary year spent in four categories. The categories include travel, shipping, advertising on search engines and social media sites and on internet, cable, and phone services
• 1x Ultimate Rewards points on all other spending

If you have both significant travel and advertising expenses that could push you over $150,000 in annual spending, consider a card with no spending cap like the American Express® Business Gold Card. It pays 4x Membership Rewards points in your top two spending categories out of six available categories. Those categories include both airfare purchased directly from airlines and U.S. purchases for advertising in select media.

Keep in mind: Chase has one of the most liberal definitions of travel among card issuers. You will earn 3x rewards on the following: airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds, passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages. Compare that with the American Express Business Platinum, which offers 5x points on flights and prepaid hotels only.

Rewards Restrictions

The Chase Ink Business Preferred^SM card won’t pay bonus points for the following:

• Travel-related purchases, including in-flight goods and services, onboard cruise line goods and services, tourist attractions and sightseeing activities
• Shipping service purchases made from a store where shipping isn’t its primary business, like an office supply store

You’ll earn no points on transactions like balance transfers, cash advances, gambling, money orders, interest and fees of any kind. Restrictions on earning rewards for these types of transactions are common among small business credit cards.

Rewards never expire, but you will lose all of your unredeemed rewards if your account is closed for program misuse, fraudulent activities on your part, failure to pay, or bankruptcy. Only a handful of issuers, like U.S. Bank, set expiration dates on rewards. Its rewards expire at the end of the calendar quarter that is five years from the date on which they were earned.

How To Redeem Your Rewards

You can redeem your rewards for travel, cash back, or gift cards. When redeeming for cash back or gift cards, your redemption value 1 cent per point. When redeeming for travel through Chase’s Ultimate Rewards website, travel is worth 1.25 cents per point. You also can increase your redemption value when you transfer rewards to the Chase Sapphire Reserve personal credit card. Each point is worth 1.5 cents when redeemed for travel.

You may be able to boost the redemption value further by transferring your Chase Ultimate Rewards points to one of the issuer’s airline partners. When transferred, point values vary, but your redemption value could exceed 2 cents per point or more when booking flights.

Chase Ink Business Preferred^SM Additional Features

Chase Ink Business Preferred^SM offers several travel and purchase protections that other small business credit cards offer, like rental car insurance. It also offers unique coverage, like cellphone protection and trip cancellation insurance.

You’ll receive the following free additional benefits:

Cellphone Protection

When you pay your monthly bill with your Chase Ink Business Preferred^SM card, Chase will cover you in case of loss or theft. This is supplemental insurance that will kick in after homeowner’s insurance or other insurance benefits are exhausted.

What’s Covered with Chase Ink Business Preferred^SM Cellphone Protection

All eligible phone lines listed on your bill are covered for up to $600 in theft or damages per claim. You are limited to three claims or up to $1,800 worth of benefits per 12-month period, with a $100 deductible per claim. No other small business credit cards offer this protection, although you can find it on some Wells Fargo personal credit cards.

What’s Excluded from Chase Ink Business Preferred^SM Cellphone Protection

The following cellphone protection coverage limits apply:

• Phone accessories
• Phones leased, rented, or purchased for resale
• Phones lost or that “mysteriously disappear”
• Phones stolen from checked baggage
• Cosmetic damage that does not impact phone capabilities
• Damage or theft resulting from abuse, intentional acts, fraud, or war

Trip Cancellation/Interruption Insurance

This benefit will compensate you for trips canceled or interrupted due to a covered condition when you pay for at least a portion of your trip with your Chase Ink Preferred card. No other small business credit card offers these protections.

What’s Covered with Chase Ink Business Preferred^SM Trip Cancellation/Interruption Insurance

If you, your immediate family or employee credit card holders book a pre-paid tour, trip, or vacation, you are eligible for up to $5,000 in coverage. However, the trip must be canceled by you or the tour operator for covered conditions to qualify.

The following covered conditions apply:

• If you die, fall ill, or suffer injury
• Severe weather, “which prevents a reasonable and prudent person” from traveling
• Change in military orders
• A terrorist action or hijacking
• A call to jury duty or receiving a subpoena from the courts
• An insured person finding their home or another covered person’s home to be uninhabitable
• Quarantine imposed by a doctor for health reasons
• Financial insolvency of the travel agency, tour operator, or travel supplier

What’s Excluded from Chase Ink Business Preferred^SM Trip Cancellation/Interruption Insurance

The following coverage exclusions apply:

• Travel arrangements canceled by the travel operator that don’t involve severe weather or a labor strike
• Any change in your plans, financial circumstances, or obligations
• Pre-existing conditions
• Traveling in a rocket-propelled or rocket-launched aircraft
• Self-inflicted injury
• War
• Traveling against the advice of a doctor
• Traveling while on a waiting list for specified medical treatment

Trip Delay Reimbursement

If your trip is delayed for more than 12 hours or an overnight stay by equipment failure, bad weather, labor strikes, or a hijacking, you’re eligible for a reimbursement of expenses up to $500. Covered expenses include meals, lodging, toiletries, and medication.

Coverage up to $500 each is available for the cardholder, the cardholder’s spouse and dependent children under 22 years of age. You must have paid for at least a portion of the delayed trip with your Chase card to be eligible. This type of coverage is most often found on personal travel credit cards. But it’s also offered by the United MileagePlus® Explorer Business Card.

Baggage Delay Protection

If your checked baggage is delayed or misdirected by a carrier for more than six hours, you’re eligible for a $100 per day benefit for up to five days. The coverage is limited to purchases of essential items like clothing, toiletries, and charging cables for cellphones. The cardholder and the cardholder’s immediate family are eligible for coverage. This benefit is found most often on personal travel rewards cards, like the Chase Sapphire Reserve.

What’s Excluded from Chase Ink Business Preferred^SM Baggage Delay Protection

The following coverage exclusions apply:

• Contact lenses, eyeglasses, or hearing aids
• Artificial teeth, dental bridges, or prosthetic devices
• Tickets, documents, money, securities, checks, traveler’s checks, and valuable papers
• Jewelry and watches
• Cameras, video recorders, cellular telephones, and other electronic equipment

Lost Luggage Reimbursement

If your checked or carry-on luggage is lost or damaged while on a flight or traveling with another covered carrier, like a passenger train, you’re eligible for reimbursement of up to $3,000 for each covered person. That coverage includes a $500 maximum benefit for jewelry, watches, cameras, video recorders, and other electronic equipment. Loss of papers, money, or tickets aren’t covered. The cardholder and immediate family members are eligible for coverage.

This type of coverage is nearly identical to what the CitiBusiness® / AAdvantage® Platinum Select® World Mastercard® offers, although that card’s benefit is capped at $10,000 per trip, regardless of how many covered travelers file claims.

Auto Rental Collision Damage Waiver

When you rent a car using your Chase business credit card, you’re covered in case of accident or theft. Coverage is primary if the vehicle rental is for business purposes, which means you won’t need to use your personal auto insurance or accept insurance offered by the rental agency. You may be reimbursed for up to the cash value of the vehicle.

What’s Covered with Chase Ink Business Preferred^SM Rental Insurance

The auto rental collision damage waiver covers damage due to collision or theft. Both the cardholder and any additional drivers permitted by the rental agreement are covered. Rentals of 31 consecutive days or less are eligible. You’ll also be covered for “reasonable and customary towing charges” and loss-of-use charges incurred by the rental car company.

What’s Excluded from Chase Ink Business Preferred^SM Rental Insurance

The following auto rental collision damage waiver coverage limits apply:

• Expensive, exotic, and antique automobiles
• Vans designed to carry more than eight people
• Trucks, motorcycles, mopeds, motorbikes, limousines, and recreational vehicles
• Expenses reimbursed under your personal auto insurance policy, your employer or your employer’s insurance
• Injury of anyone or anything inside or outside of the vehicle
• Leases and mini leases
• Loss or theft of personal belongings

This coverage is similar to what other small business cards offer. Unlike the Chase Ink Business Preferred^SM card, some cards may place a monetary cap on the coverage. The American Express Business Platinum Card, for example, caps coverage at $75,000.

Purchase Protection

Chase may repair, replace, or reimburse you for items purchased with your credit card that are damaged or stolen within 120 days of purchase. Coverage is limited to $10,000 per item, up to $50,000 per year.

What Purchases Chase Ink Business Preferred^SM Covers

Purchase protection covers items stolen or damaged or that “in which the item’s location is known but recovery is impractical to complete.” This coverage is similar to what other small business credit cards that offer purchase protection cover.

What Purchases Chase Ink Business Preferred^SM Excludes

The following purchases are not covered by purchase:

• Animals and living plants
• Antiques or collectible items
• Boats, aircraft, automobiles, and any other motorized vehicles
• Computer software
• Items purchased for resale
• Items that are lost or that vanish in an unexplained manner without evidence of a wrongful act
• Items under the care and control of a common carrier like the U.S. Postal Service or an airline
• Jewelry and watches stored in checked baggage
• Theft or damage resulting from abuse, fraud, hostilities of any kind, confiscation by the authorities, risks of contraband, illegal activities, normal wear and tear, flood, earthquake, radioactive contamination, or damage from inherent product defects
• Medical equipment
• Perishables or consumables
• Real estate
• Rented or leased items
• Traveler’s checks, cash, tickets, credit or debit cards, and any other negotiable instruments
• Used or preowned items

Business credit cards that offer this coverage typically limit coverage to either 90 or 120 days after purchase. Chase Ink Business Preferred^SM offers a longer coverage window than Capital One® Spark® Miles for Business. Exclusions here are common across small business credit cards.

Extended Warranty Protection

Chase will extend the original manufacturer’s warranty by an additional year on warranties of three years or less up to a maximum of $10,000 per claim and $50,000 per account. To qualify, you must have used the card or rewards for some portion of the purchase.

What Chase Ink Business Preferred^SM Extended Warranty Protection Covers

Extended warranty protection covers eligible items with a valid original manufacturer-written U.S. repair warranty of three years or less. This is a smaller window of additional coverage than some other small business credit cards offer. The Blue Business® Plus Credit Card from American Express, for example, offers two years’ extra warranty protection if the original manufacturer’s warranty is between two and five years.

What Chase Ink Business Preferred^SM Extended Warranty Protection Excludes

The following purchases are not covered by extended warranty protection:

• Boats, automobiles, aircraft, and any other motorized vehicles
• Any costs other than those specifically covered under the terms of the original manufacturer’s written U.S. repair warranty
• Items purchased for resale
• Computer software
• Medical equipment
• Real estate
• Rented or leased items
• Used or preowned items

These exclusions to this card’s extended warranty protection are similar to what other cards that offer warranty protection exclude.

Travel and Emergency Assistance Services

Chase will provide travel, emergency, medical, and legal assistance 24 hours a day to the cardholder, their spouse, and dependent children aged 22 years or younger. Like with most small business credit cards, this is mostly a concierge service. The cardholder is responsible for the cost of any assistance.

Services Chase Ink Business Preferred^SM Provides

This card covers the following travel and emergency assistance:

• Arranges for transportation under medical supervision
• Relays messages for travelers 24 hours a day
• Arranges for the replacement and delivery of new tickets in case of loss
• Offers help with common carrier claim procedures when you’ve lost luggage

This card covers the following medical and legal assistance:

• Referrals to local doctors, dentists, hospitals, and pharmacies
• Assistance with prescription replacements
• Referrals to translator in all major languages

Some cards that charge an annual fee may offer more robust assistance. The American Express Business Gold Card, for example, includes on its Global Assist Hotline bail bond assistance and referral to an attorney who speaks English.

Adding Chase Ink Business Preferred^SM Employee Credit Cards

Although Chase Ink Business Preferred^SM charges an annual fee of $95, you can add employee credit cards at no cost. Most small business credit card issuers (with the exception of American Express) charge no fee on employee credit cards, even if the primary card carries an annual fee. Chase does not limit the number of employee cards you can get, but says you should consider a corporate credit card if you need more than 100.

What Chase Ink Business Preferred^SM is Missing

The Chase Ink Business Preferred℠ card lacks bonus rewards for spending on restaurants or gas spending, which the United MileagePlus Explorer Business Card offers. This also isn’t a good card if you carry a balance because the ongoing APR is quite high. If you think you won’t be able to pay your bill off in full each month consider a 0% APR business credit card.

Chase Ink Business Preferred^SM Reviews

We scoured the internet to find users who reviewed the Chase Ink Business Preferred℠ card. Reviews are extremely positive. While the card charges an annual fee, cardholders love the high introductory rewards and the ongoing points that they earn on so many different purchases. Some users say they’re disappointed the card doesn’t offer more travel benefits.

How to Apply for Chase Ink Business Preferred^SM

Before opening a business credit card, learn what you need to do to prepare. Apply for the Chase Ink Business Preferred^SM card online by filling out a basic application. You’ll need to provide both business and personal information, like your Social Security number and business address.

You may be approved instantly. If you’re not, check your application status online if you’re an existing Chase customer; otherwise call 800-453-9719. If you’re approved, you’ll receive your card in the mail within seven to 10 days.

How to Log In To Your Chase Ink Business Preferred^SM Account

Log in to your Chase Ink Business Preferred^SM account by providing your user ID and password. You can also contact customer service from the number on the back of your card.

Other Chase Business Credit Cards

Chase offers five other business credit cards, all of which offer rewards. Some cards are partner cards that reward you for airline travel expenses. The others offer points or cash back on all purchases. You should consider another Chase business credit card if you don’t travel frequently or have spending needs more in line with the other cards’ rewards programs.

The other small business credit cards offered by Chase are:

• Chase Ink Business Cash^SM: This card is best for owners with big office supply expenses. You’ll earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, cellular phone, and landline services each account anniversary year. You’ll pay no annual fee.
• Chase Ink Business Unlimited^SM: This card is best for owners who don’t want to track bonus category spending. You’ll earn 1.5% cash back on all purchases. You’ll pay no annual fee.
• United^SM Explorer Business Card: This card is best for owners who frequently use United Airlines for business travel. It pays 2x miles on United purchases, and at restaurants, gas stations and office supply stores. You’ll pay a $95 annual fee, waived the first year.
• United MileagePlus Club Business Card: This card is best for heavy travelers who primarily fly United Airlines. It pays 2x miles on United purchases and 1.5x miles on everything else. The annual fee is $450.
• Southwest Rapid Rewards® Premier Business Credit Card: This card is best for businesses that frequently use Southwest Airlines for travel. It pays 2x points on Southwest purchases and 6,000 bonus points on each cardmember anniversary. You’ll pay a $99 annual fee.

Alternatives to Chase Ink Business Preferred^SM

Other travel rewards credit cards may offer more perks, like airport lounge access, or enhanced rewards on spending for which Chase Ink Business Preferred^SM doesn’t offer top rewards.

3 Alternatives to Chase Ink Business Preferred^SM

The information related to the United^SM Explorer Business Card, United MileagePlus Club Business Card, Chase Sapphire Reserve and Chase Sapphire Preferred has been collected by fitsmallbusiness.com and has not been reviewed or provided by the issuer of these cards.

For rates and fees on the American Express® Business Gold Card, please click here.
For rates and fees on the Blue Business® Plus Credit Card from American Express, please click here.
For rates and fees on the American Express Business Platinum® Card, please click here.