Chase Ink Business Preferred® Review
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
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
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Maximizing travel rewards at a lower annual fee
Intro APR
N/A
Regular APR
20.49% - 25.49% Variable
Annual Fee
$95
Credit Needed
- Earn 100k bonus points after you spend $15,000 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 interst-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 US 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
20.49% - 25.49% Variable
Annual Fee
$95
Credit Needed
Good, Excellent
- Earn 100k bonus points after you spend $15,000 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 interst-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 US 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
How We Evaluate Travel Rewards Business Credit Cards
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 | 20 | 25 |
Introductory Rewards | 25 | 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
- Businesses 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 that need employee cards: It allows you to add employee cards for free, set individual employee spending limits, and monitor business-related expenses.
If this card doesn’t fit your needs, check out our guides to the best Chase business credit cards and leading small business credit cards. .
Chase Ink Business Preferred® Fees
APR
- Introductory APR: None
- Ongoing purchase, balance transfer, and My Chase LoanSM APRs: 20.49% – 25.49% variable—adjusts with the prime rate
- Cash advance APR: 29.49% variable—adjusts with the prime rate
- Penalty and when it applies: 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
- Due date: At least 20 days after the close of every billing cycle
- Minimum interest charge: None
Fees
- 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 advance or $15 of each transaction, whichever is greater
- Foreign transaction: None
- Late and returned payments: $40
- Return check: None
Chase Ink Business Preferred® Rewards
- 100,000 bonus points when you spend $15,000 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
- 20,000 points for every business you refer that gets approved for the card 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 programs (discussed further below).
You can redeem your rewards for travel, cash back, or gift cards. The redemption value for cash back is $.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 frequent 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 |
|---|---|
|
|
How To Make Payments on the Chase Ink Business Preferred®
- Online or Chase Mobile® app: Go to chase.com/paycard to make a payment online. You can also enroll in automatic payments through the website or mobile app, which is available for iOS and Android users. When you enroll, specify the deposit account from which your payment will be deducted and how much you’d like to pay, such as your 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—don’t send cash. Mail your payment to the following address:
Cardmember Services
PO Box 6294
Carol Stream, IL 60197-6294.
- Via Western Union: Use the Code City WALNUT when paying via Western Union. It may take up to seven days for the payment to be reflected in your account.
- In-person: Go to the nearest Chase ATM or branch.
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.
Pros & Cons of the Chase Ink Business Preferred®
| PROS | CONS |
|---|---|
| Reward points are worth 25% more when you redeem for travel | No interest-free financing option on both purchases and balance transfers |
| Comprehensive travel and purchase protection | Has an annual fee of $95 |
| Does not charge foreign transaction fees | Need to make extremely large purchases to qualify for the sign-up bonus |
Chase Ink Business Preferred® Alternatives
Capital One® Spark® Miles Select for Business
- Capital One® Spark® Miles Select for Business is our top business credit card for travel one of our best business credit cards for miles
- Interest-free financing option on purchases for the first nine billing cycles
- No balance transfer and foreign transaction fees
- Sign-up bonus of 20,000 miles (equivalent to $200 in travel) after spending $3,000 on purchases within the first three months after opening an account
- 5X miles on hotels and rental cars that are booked through Capital Travel and unlimited 1.5X miles on every purchase, with no blackouts or seat restrictions
Capital One® Spark® Miles Select for Business
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Travel rewards and annual spending less than $19,000
Intro APR
0% on purchases
Regular APR
18.24% to 28.24% (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
0% on purchases
Regular APR
18.24% to 28.24% (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.
Bank of America® Business Advantage Travel Rewards World Mastercard®
- Bank of America® Business Advantage Travel Rewards World Mastercard® is one of our leading business credit cards for travel
- Interest-free financing option on purchases for the first nine billing cycles
- No annual and foreign transaction fees
- Earns 3 points for every dollar spent when booking a rental car, hotel stay, or airfare through the Bank of America® Travel Center and unlimited 1.5 points for every dollar spent on all purchases, anytime, anywhere
- Sign-up bonus of 30,000 bonus points after spending at least $3,000 in purchases within the first 90 days after opening an account, which can be redeemed via a $300 statement credit towards either travel- or dining-related purchases
Bank of America® Business Advantage Travel Rewards World Mastercard® credit card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Earning top rewards on travel purchases booked through Bank of America Travel Center
Intro APR
0%
Regular APR
16.49% - 26.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 online bonus points after you make at least $3,000 in net purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
- Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire.
- Earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center.
- No annual fee and no international transaction fees.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.49% to 26.49% will apply.
- Redeem points for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America Travel Center, cash back or gift cards.
- Earn up to 75% more points on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to an unlimited 2.62 points per $1 spent on all purchases and up to 5.25 points per $1 spent at the Bank of America Travel Center.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: The Bank of America Business Advantage Travel Rewards World Mastercard® offers 0% APR for the first nine billing cycles from opening an account—this is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory 0% APR only applies to purchases—if you need to transfer a balance from another credit card, you’ll need to pay an APR ranging from 12.24% to 22.24%.
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
Intro APR
0%
Regular APR
16.49% - 26.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 online bonus points after you make at least $3,000 in net purchases in the first 90 days of your account opening which can be redeemed for a $300 statement credit towards travel or dining purchases.
- Earn unlimited 1.5 points for every $1 spent on all purchases everywhere, every time-no matter how much you spend. Points don't expire.
- Earn 3 points per every dollar spent on travel purchases (car, hotel, airline) booked through the Bank of America® Travel Center.
- No annual fee and no international transaction fees.
- 0% Introductory APR on purchases for your first 9 billing cycles. After the intro APR offer ends, a Variable APR that's currently 16.49% to 26.49% will apply.
- Redeem points for a statement credit to offset travel and dining purchases, travel with no blackout dates at the Bank of America Travel Center, cash back or gift cards.
- Earn up to 75% more points on every purchase, if you have a business checking account with Bank of America and qualify for our highest Preferred Rewards for Business tier. That means you could earn up to an unlimited 2.62 points per $1 spent on all purchases and up to 5.25 points per $1 spent at the Bank of America Travel Center.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This offer may not be available if you leave this page or visit our website. You can take advantage of this offer when you apply now.
Pros
- No annual fee: By not having to pay an annual fee, you can reduce your overall credit card cost while earning unlimited rewards on your expenses.
- No blackout dates on travel: You can redeem your points for travel or travel credits through the Bank of America® Travel Center anytime, with no blackout dates.
- 3x points on travel: You can earn 3x points for every dollar spent when you book your travel (car, hotel, or airline) through the Bank of America® Travel Center.
- Welcome bonus points: If you can spend $3,000 in net purchases within 90 days of opening an account, you will earn 30,000 bonus points.
Cons
- Low ongoing rewards on nontravel: While you can earn high rewards points on travel, you can only earn 1.5x points on all other purchases.
- Short 0% APR introductory period: The Bank of America Business Advantage Travel Rewards World Mastercard® offers 0% APR for the first nine billing cycles from opening an account—this is a disadvantage if you need a longer 0% APR period.
- No 0% APR on balance transfers: The introductory 0% APR only applies to purchases—if you need to transfer a balance from another credit card, you’ll need to pay an APR ranging from 12.24% to 22.24%.
- Bank of America doesn’t disclose details of its additional card features. To find out more about these additional features, review your guide to benefits when you receive your card in the mail.
United ClubSM Business Card
- United ClubSM Business Card is one of our best business credit cards for miles and top-recommended business credit card for travel
- Sign-up bonus of 75,000 miles after spending $5,000 on purchases within the first three months after account opening
- 2X miles on United purchases—including tickets, Economy Plus®, inflight food, beverages, Wi-Fi, and other United charges
- No foreign transaction fee
- No interest-free financing option on both purchases and balance transfers and charges a high annual fee of $450
United Club℠ Business Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
United Airlines enthusiasts who use airport lounge access regularly
Intro APR
N/A
Regular APR
20.24% to 27.24% Variable
Annual Fee
$450
Credit Needed
Good - Excellent
- 75,000 bonus miles after spending $5,000 on purchases within the first three months after account opening
- United ClubSM membership
- Two Premier Access® travel services
- First and second checked bag free
- Earn double miles on tickets purchased from United
- Earn 1.5 miles per $1 spent on all other purchases
- No foreign transaction fees
Pros
- Offers free first and second checked bags
- With sign-up bonus
- With lounge membership
Cons
- Charges high annual fee
- Has no 0% introductory APR
- Rewards have limited flexibility
- United Club membership: You and other eligible travel companions will receive free access to all United Club locations and participating Star Alliance™ affiliated lounges worldwide.
- Avis President’s Club®: Primary cardholders are invited to enroll in Avis President’s Club® and enjoy complimentary two-car class upgrades, guaranteed car availability, expedited rental services, and more.
- Free two checked bags: The primary cardholder and their companion traveling with the same reservation will each receive free checked bags (up to $35 value for the first checked bag and up to $45 value for the second checked bag, each way, per person).
- Lost luggage reimbursement: You and your immediate family member are covered up to $3,000 if you check or carry luggage damaged or lost by the carrier.
- Baggage delay insurance: If there’s a baggage delay of more than six hours, you can be reimbursed for essential purchases, such as toiletries and clothing, up to $100 a day for three days.
Intro APR
N/A
Regular APR
20.24% to 27.24% Variable
Annual Fee
$450
Credit Needed
Good - Excellent
- 75,000 bonus miles after spending $5,000 on purchases within the first three months after account opening
- United ClubSM membership
- Two Premier Access® travel services
- First and second checked bag free
- Earn double miles on tickets purchased from United
- Earn 1.5 miles per $1 spent on all other purchases
- No foreign transaction fees
Pros
- Offers free first and second checked bags
- With sign-up bonus
- With lounge membership
Cons
- Charges high annual fee
- Has no 0% introductory APR
- Rewards have limited flexibility
- United Club membership: You and other eligible travel companions will receive free access to all United Club locations and participating Star Alliance™ affiliated lounges worldwide.
- Avis President’s Club®: Primary cardholders are invited to enroll in Avis President’s Club® and enjoy complimentary two-car class upgrades, guaranteed car availability, expedited rental services, and more.
- Free two checked bags: The primary cardholder and their companion traveling with the same reservation will each receive free checked bags (up to $35 value for the first checked bag and up to $45 value for the second checked bag, each way, per person).
- Lost luggage reimbursement: You and your immediate family member are covered up to $3,000 if you check or carry luggage damaged or lost by the carrier.
- Baggage delay insurance: If there’s a baggage delay of more than six hours, you can be reimbursed for essential purchases, such as toiletries and clothing, up to $100 a day for three days.
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. However, it charges an annual fee of $95, and you’ll need to spend a lot in a short period to get the bonus points.
