Chase Ink Business Preferred® Review for 2022
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.
The Chase Ink Business Preferred® card is an excellent travel rewards card for business owners who don’t want to pay a high annual fee. This card allows you 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.
To see how this card stacks up against others that we have reviewed on our site, click Add to Compare on the card below and select up to two additional cards for 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
16.74% - 21.74% 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
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- 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.
Pros
- Opportunity to boost the value of reward points
- Offers cellphone protection and trip cancellation insurance
Cons
- Doesn’t offer an interest-free financing period
- Charges an annual fee
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.
- Cellphone protection: You and the employees named on the phone bill you pay for with your card are covered for up to $600 in theft or damages per claim. You are limited to three claims per 12-month period, with a $100 deductible per claim.
- Trip cancellation and delay insurance: If your trip is canceled, you can be compensated up to $15,000 for prepaid expenses such as airfare or hotels. If your trip is delayed for 12 hours or more, you can be reimbursed up to $500 for your hotel room, meals, and transportation.
Intro APR
N/A
Regular APR
16.74% - 21.74% 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
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- 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.
Pros
- Opportunity to boost the value of reward points
- Offers cellphone protection and trip cancellation insurance
Cons
- Doesn’t offer an interest-free financing period
- Charges an annual fee
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes. It provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad.
- Cellphone protection: You and the employees named on the phone bill you pay for with your card are covered for up to $600 in theft or damages per claim. You are limited to three claims per 12-month period, with a $100 deductible per claim.
- Trip cancellation and delay insurance: If your trip is canceled, you can be compensated up to $15,000 for prepaid expenses such as airfare or hotels. If your trip is delayed for 12 hours or more, you can be reimbursed up to $500 for your hotel room, meals, and transportation.
How We Evaluate Travel Rewards Business Credit Cards
When grading small business travel rewards credit cards like the Chase Ink Business Preferred® card, we first consider ongoing rewards, introductory rewards, and additional features. 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 | 9 | 15 |
Introductory APR | 0 | 5 |
Ongoing APR | 3 | 5 |
Total Score | 82 | 100 |
Who Chase Ink Business Preferred® Is Best For
- Business owners who have significant travel expenses: The Chase Ink Business Preferred® card 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 purchase advertising on social media sites: This card is also ideal for businesses that regularly buy advertising through Facebook or Google because it offers generous rewards for online ad purchases.
- Businesses that need employee cards: The Chase Ink Business Preferred® card allows you to add employee cards at no additional cost, set individual employee spending limits, and monitor business-related expenses.
Chase Ink Business Preferred® Fees
- Introductory APR: None
- Ongoing APR: 16.74% to 21.74% variable, which will adjust with the prime rate
- My Chase LoanSM APR: 16.24% to 21.24% variable, based on creditworthiness—adjusts with the prime rate
- Balance transfer APR: 16.74% to 21.74% variable, based on creditworthiness—adjusts with the prime rate
- Cash advance APR: 25.74% variable, based on creditworthiness—adjusts with the prime rate
- Default APR and when it applies: Up to 29.99% variable, based on creditworthiness, adjusted with the prime rate—default APR may be applied to your account if you fail to make a minimum payment by the date and time it’s due or make a payment that’s returned unpaid
- Grace period: Minimum of 20 days after the close of every billing cycle
- Minimum interest charge: None
- Annual fee: $95
- Balance transfer fee: Either 5% of the amount of the transfer or $5, whichever is greater
- Cash advance fee: 5% of the advance or $15, whichever is greater
- Foreign transaction fee: None
- Late payment: $40
- Return payment: $40
- Return check: None
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—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
- Points worth 25% more after redeeming for travel through Chase Ultimate Rewards (for example, 100,000 points are worth $1,250 towards travel)
- Can also earn 20,000 points for every business you refer that gets approved for the card after applying online
Welcome offer: You’ll get 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).
You can redeem your rewards for travel, cash back, or gift cards. Redemption value for cash back or gift cards is 1 cent per point. For travel, the redemption value is 1.25 cents per point.
You can increase your redemption value by transferring 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.
How this works: After spending $20,000 with your Chase Ink Business Unlimited® card, you earn $300 cash back. If you transfer the $300 cash back to an active Chase Sapphire Preferred® card, it’ll be worth $375 when used towards travel. On the other hand, if the $300 cash back is transferred to a Chase Sapphire Reserve® card, it’ll be worth $450 cash back when used for travel.
How To Make Payments on the Chase Ink Business Preferred®
- Online: You can pay your credit card bills online manually or sign up for automatic payments.
- Chase Mobile® App: You can manage your credit card payments through the Chase mobile app.
- Automated phone service: Call (800) 436-7958 or call the customer service number on the back of your card or billing statement.
- ATM or branch: You can pay your credit card bill at any Chase ATM or local branch.
- By mail: Mail a check or money order with your name and account number to:
Cardmember Services
PO Box 6294
Carol Stream, IL 60197-6294
- Western Union: Should you wish to pay your credit card bills through Western Union, make sure to use the Code City WALNUT. Note that it may take up to seven days for the payment to be reflected in your account.
Chase Ink Business Preferred® Additional Features
Trip Cancellation/Trip Interruption Protection
Your Chase Ink Business Preferred® card can cover you and your immediate family members if your trip is either canceled or cut short due to circumstances beyond your control. These circumstances include incurred injuries, severe weather, military orders, jury duty, among others. Your Chase Ink Business Preferred® may also cover expenses such as a last-minute flight home. In most cases, only the part of your trip that was interrupted will be eligible for reimbursement. Chase may reimburse you up to $5,000 per person and $10,000 per trip for your prepaid, nonrefundable travel expenses, including passenger fares, tours, and hotel accommodations.
Medical Insurance
Your Chase Ink Business Preferred® card can act as a supplement to your current health insurance, which may cover medical costs incurred abroad. Evacuation insurance covers the costs associated with an evacuation following a weather event or other disruption.
Baggage Insurance
This insurance is supplemental to the coverage provided by your airline or through your homeowners’ or renters’ insurance policy. Baggage coverage may reimburse you for the actual or replacement cost of your possessions if they go missing when you travel.
Cellphone Protection
When you use your Chase Ink Business Preferred® card to pay your bill, you can get up to $1,000 per claim in protection against cellphone theft and damage for yourself and the employees listed on your monthly cellphone bill. The coverage allows a maximum of three claims in a 12-month period, with a $100 deductible per claim.
Purchase Protection
Your purchases will be covered for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
Pros & Cons of the Chase Ink Business Preferred
| PROS | CONS |
|---|---|
| Opportunity to boost the value of reward points: Reward points are worth 25% more when you redeem for travel through the Chase Ultimate Rewards® card. This is advantageous for owners who often travel for business. | Doesn’t offer an interest-free financing period: Unlike most of the other business credit cards, the Chase Ink Business Preferred® card does not offer a 0% introductory rate. |
| Offers cellphone protection: Chase Ink Business Preferred® offers up to $600 in cellphone protection per claim, with a $100 deductible and up to three claims per year. This covers both you and your employees who are listed on your cellphone bill. | Charges an annual fee: The Chase Ink Business Preferred® card charges a $95 annual fee. |
| Trip cancellation insurance: If your trip is canceled, Chase will reimburse up to $5,000 per person and $10,000 per trip for your prepaid, nonrefundable travel expenses, including passenger fares, tours, and hotels. This is an excellent benefit for frequent travelers. | |
Chase Ink Business Preferred® Alternatives
Capital One® Spark® Miles for Business
Capital One® Spark® Miles for Business is a better option if you don’t want to keep track of spending categories. This small business credit card offers unlimited 2x miles on all purchases and 5x unlimited rewards miles if the card is used to book hotels and rental cars through Capital One Travel. In addition, it offers an introductory reward worth $500 in travel after spending $4,500 within the first three months of opening an account. We chose this card as the overall best business credit card for travel.
Capital One® Spark® Miles 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:
Unlimited 2x miles with every swipe
Intro APR
N/A
Regular APR
21.24% (Variable)
Annual Fee
$0 intro for first year; $95 after that
Credit Needed
Excellent, Good
- Introductory reward worth $500 in travel after you spend $4,500 within the first three months
- 2x miles per $1 spent
- Issue employee cards for free
Pros
- No foreign transaction fees
- TSA PreCheck® or Global Entry application fee credit
Cons
- You’ll pay an annual fee after the first year
- Doesn’t offer interest-free financing
- Airport security screening reimbursement: Either a $100 statement credit for Global Entry or an $85 statement credit for TSA PreCheck® once every four years.
- 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
N/A
Regular APR
21.24% (Variable)
Annual Fee
$0 intro for first year; $95 after that
Credit Needed
Excellent, Good
- Introductory reward worth $500 in travel after you spend $4,500 within the first three months
- 2x miles per $1 spent
- Issue employee cards for free
Pros
- No foreign transaction fees
- TSA PreCheck® or Global Entry application fee credit
Cons
- You’ll pay an annual fee after the first year
- Doesn’t offer interest-free financing
- Airport security screening reimbursement: Either a $100 statement credit for Global Entry or an $85 statement credit for TSA PreCheck® once every four years.
- 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.
American Express® Business Gold Card
The American Express® Business Gold Card offers a relatively low starting APR of 15.74%. With this card, your spending habits will determine where your reward points will go. After spending the first $150,000 in combined purchases, you can get 4x Membership Rewards® points per $1 on the two categories where your business spends the most, including airfare purchased directly from airlines. We chose this card as one of the best business credit cards for travel.
American Express® Business Gold 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 rewards in the two categories where you spend the most
Intro APR
N/A
Regular APR
15.74% - 23.74% Variable
Annual Fee
$295
Credit Needed
Good, Excellent
- Welcome Offer: Earn 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.*
- MORE REWARDS: Get 4X Membership Rewards® points on the 2 select categories where your business spent the most each month. 1X is earned for other purchases. **
- **4X points apply to the first $150,000 in combined purchases from these 2 categories each calendar year.*
- AIRLINE BONUS: Get 25% points back after you use points for all or part of an eligible flight booked with Amex Travel, up to 250,000 points back per calendar year.*
- PAY OVER TIME OPTION: Decide whether you want to pay eligible purchases in full each month—or pay over time with interest.*
- *Terms Apply
Pros
- Earn 4x points in two categories every month
- Pay eligible charges over time with interest, or pay your balance in full monthly
Cons
- You’ll pay a high annual fee of $295
- No interest-free financing opportunities
- Premium roadside assistance: Free of charge up to four times a year. You can receive towing up to 10 miles, winching, jump starts, flat tire change, lockout service when the key is in the vehicle, and delivery of up to two gallons of gas
- Return protection: American Express will refund you for eligible purchases when the store doesn’t accept returns of undamaged items. Coverage is limited to 90 days from purchase, up to $300 per item, and up to a maximum of $1,000 per year.
- Baggage insurance: If your baggage is lost, damaged, or stolen, you’re eligible for coverage of up to $1,250 for carry-on luggage and $500 for checked bags
- Extended warranty: Receive one additional year of coverage on purchases with eligible warranties of five years or less
- Purchase protection: Covers new purchases against damage or theft within 90 days of purchase. Coverage is limited to $1,000 per incident.
Intro APR
N/A
Regular APR
15.74% - 23.74% Variable
Annual Fee
$295
Credit Needed
Good, Excellent
- Welcome Offer: Earn 70,000 Membership Rewards® points after you spend $10,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.*
- MORE REWARDS: Get 4X Membership Rewards® points on the 2 select categories where your business spent the most each month. 1X is earned for other purchases. **
- **4X points apply to the first $150,000 in combined purchases from these 2 categories each calendar year.*
- AIRLINE BONUS: Get 25% points back after you use points for all or part of an eligible flight booked with Amex Travel, up to 250,000 points back per calendar year.*
- PAY OVER TIME OPTION: Decide whether you want to pay eligible purchases in full each month—or pay over time with interest.*
- *Terms Apply
Pros
- Earn 4x points in two categories every month
- Pay eligible charges over time with interest, or pay your balance in full monthly
Cons
- You’ll pay a high annual fee of $295
- No interest-free financing opportunities
- Premium roadside assistance: Free of charge up to four times a year. You can receive towing up to 10 miles, winching, jump starts, flat tire change, lockout service when the key is in the vehicle, and delivery of up to two gallons of gas
- Return protection: American Express will refund you for eligible purchases when the store doesn’t accept returns of undamaged items. Coverage is limited to 90 days from purchase, up to $300 per item, and up to a maximum of $1,000 per year.
- Baggage insurance: If your baggage is lost, damaged, or stolen, you’re eligible for coverage of up to $1,250 for carry-on luggage and $500 for checked bags
- Extended warranty: Receive one additional year of coverage on purchases with eligible warranties of five years or less
- Purchase protection: Covers new purchases against damage or theft within 90 days of purchase. Coverage is limited to $1,000 per incident.
Bank of America® Business Advantage Travel Rewards World Mastercard®
With a 0% introductory APR and a relatively low starting APR of 12.24%, the Bank of America® Business Advantage® Travel Rewards World Mastercard® is another card to consider. It offers a welcome bonus of 30,000 bonus points after spending at least $3,000 in net purchases within the first 90 days of opening an account and redeeming a $300 credit toward travel purchases on your monthly bill. In addition, this card doesn’t charge annual fees or foreign transaction fees, making international travel less expensive.
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
Intro APR
0%
9 billing cycles
9 billing cycles
Regular APR
12.49% - 22.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 bonus points when you make at least $3,000 in net purchases within 90 days of your account opening, which can be redeemed for a $300 statement credit toward travel 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 like car, hotel, and 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 nine billing cycles.
- Redeem points for travel with no blackout dates, cash back or gift cards.
- Get 75% more points on the base earn of every purchase you make when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.
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%
9 billing cycles
9 billing cycles
Regular APR
12.49% - 22.49% Variable APR on purchases
Annual Fee
$0.00
Credit Needed
Excellent
- Earn 30,000 bonus points when you make at least $3,000 in net purchases within 90 days of your account opening, which can be redeemed for a $300 statement credit toward travel 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 like car, hotel, and 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 nine billing cycles.
- Redeem points for travel with no blackout dates, cash back or gift cards.
- Get 75% more points on the base earn of every purchase you make when you’re a Preferred Rewards for Business Platinum Honors tier member. That means you will earn 2.62 points for every $1 you spend and 4.12 points per every $1 you spend at the Bank of America® Travel Center.
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.
Bottom Line
The Chase Ink Business Preferred® card is best for businesses that often spend money on travel expenses and prefer to earn premium travel rewards. This Chase credit card pays top rewards on travel purchases and has a low annual fee. If you’re looking for other cards that may be right for you, visit our Credit Card Marketplace to find our top options.
