Ink Business Preferred® Credit Card
Best For: Maximizing travel rewards at a lower annual fee
| Intro APR | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
| N/A | 15.99% to 20.99% Variable | $95 | Good to Excellent |
Chase Ink Business Preferred® is an excellent travel rewards card for business owners who don’t want to pay a high annual fee. With this card, you’ll be able to maximize your rewards and access unique additional perks like cellphone insurance. This small business credit card also lets you add employee cards at no additional cost, set individual spending limits, and monitor expenses.
Who Chase Ink Business Preferred® Is Best For
- Owners who have significant travel expenses: Chase Ink Business Preferred® is best for business owners who have significant travel expenses but don’t need travel perks like airport lounge access or free expedited airport security screening. Points are worth 25% more when redeemed for travel through Chase Ultimate Rewards®.
- Businesses that spend for advertising on social media sites: Chase Ink Business Preferred® also ideal for businesses that regularly purchase advertising through Facebook or Google because it offers generous rewards on online ad purchases.
How We Evaluate Travel Rewards Business Credit Cards
When grading small business travel rewards credit cards like the Chase Ink Business Preferred® card, we weigh ongoing rewards, introductory rewards, and additional features heaviest. We also take into account the annual fee, introductory no-interest period, and ongoing annual percentage rates (APRs).
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 20 | 25 |
Introductory Rewards | 25 | 25 |
Additional Features | 25 | 25 |
Annual Fee | 15 | 15 |
Introductory APR | 0 | 5 |
Ongoing APR | 3 | 5 |
Total Score | 88 | 100 |
Chase Ink Business Preferred® Fees
- Introductory APR: None
- Ongoing APR: 15.99% to 20.99% variable, 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
Chase Ink Business Preferred® Rewards
- 3 points per $1 on the first $150,000 spent in combined purchases in four categories for each account anniversary year. The categories include travel and shipping as well as advertising on search engines, social media sites, and on internet, cable, and phone services.
- Unlimited 1 point per $1 on all other purchases.
Welcome offer: 100,000 bonus points when you spend $15,000 on purchases in the first three months after account opening.
You can redeem your rewards for travel, cash back, or gift cards. When redeeming for cash back or gift cards, your redemption value is 1 cent per point. When redeeming for travel through Chase’s Ultimate Rewards website, travel is worth 1.25 cents per point.
💡 Tip: You 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® Additional Features
Cellphone Protection
When you pay your monthly cellphone bill with your Chase Ink Business Preferred® card, Chase will cover you in case of loss or theft. 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. This is supplemental insurance that will take effect after all other insurance benefits are exhausted.
Trip Cancellation/Interruption Insurance
The trip cancellation and interruption insurance covers up to $15,000 for canceled or interrupted trips when you pay for at least a portion of your trip using your Chase Ink Preferred card. The cancellation should be caused by a covered condition such as death, illness, injury, severe weather, change in military orders, terrorist action, quarantine, subpoena from the courts, or financial insolvency of the travel agency or supplier.
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 when you have paid a portion of the delayed trip using your Chase business credit card. The coverage of up to $500 each is available for the cardholder, the cardholder’s spouse, and dependent children less than 22 years old. Covered expenses include meals, lodging, toiletries, and medication.
Baggage Delay Protection
If your checked baggage is delayed or misdirected by a carrier for more than six hours, you and your immediate family members are 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. It does not include jewelry, watches, cameras, video recorders, cellular phones, other electronic equipment, contact lenses, eyeglasses, hearing aids, prosthetic devices, money, and other important documents.
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 and your immediate family members are 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.
Purchase Protection
Chase may repair, replace, or reimburse 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. Some purchases are not included with this coverage like animals, living plants, computer software, collectible items, real estate, medical equipment, perishables, preowned items, and more.
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 age 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.
Chase Ink Business Preferred® Alternatives
Bank of America® Business Advantage Travel Rewards World Mastercard®
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
Best For: Earning top rewards on travel purchases booked through Bank of America
| Intro APR ?0% APR for nine billing cycles on purchases | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
|
0% 9 billing cycles |
12.24% - 22.24% Variable APR on purchases | $0.00 | Excellent |
American Express Business Platinum Card®
The Business Platinum Card® from American Express
Best For: Gaining access to unrivaled travel rewards and luxury travel perks like airport lounge access
| Intro APR | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
| N/A | N/A | $595 | Good, Excellent |
Capital One® Spark® Miles for Business
Capital One® Spark® Miles for Business
Best For: Unlimited 2x miles with every swipe
| Intro APR | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|
| N/A | 20.99% (Variable) | $0 intro for first year; $95 after that | Excellent, Good |
Bottom Line
The Capital One® Spark® card is best for businesses that often spend for travel expenses and prefer to earn premium travel rewards. This Chase credit card pays top rewards on travel purchases at a lower annual fee. Check out the top credit cards to find other cards that may be a better fit for you.
Curtis Scherer
To get the same protections with a business card as you would with a personal card. For example if your business card is lost or stolen how much are you liable for. I understand for personal card the maximum is $50 that you are liable for.
Jeff White
Hi Curtis!
For every credit card this dollar amount is different, and often is on a case by case analysis. Business credit cards work just the same in most cases as personal cards, they just look at a business’s revenue and history as a qualifying factor. This question is something you should ask your credit card company directly before you apply so that you know what you’re getting yourself into. This certainly is not something that you want to be surprised about later. However, business credit cards tend to be very protective of businesses since you’re possibly giving cards out to employees and are prone to this type of theft or card misplacement. You should expect that the policy for these credit card companies could be every better than a personal card would be.
Best,
Jeff