The Chase Ink Business Preferred is one of Chase’s three business credit cards in this series. The card offers one of the best sign-up bonuses on the market and 3X points in an impressive list of spending categories. Because of the high rewards on travel and the ability to redeem your rewards for more value when you book travel through Chase, this card is ideal for companies with a lot of business travel.
Wondering whether the Chase Ink Business Preferred is right for your business? Keep reading to learn what the card has to offer, how you can earn and redeem rewards, and what businesses it’s right for.
There are several different ways you can redeem your rewards points from Chase. First, you can redeem them for cashback, which can be applied to your statement balance or deposited into a checking or savings account. You can also use the points to buy gift cards at 150 top stores or spend them in the Apple Ultimate Rewards Store. But to get the most value for your points, you can use them to book business travel through Chase Ultimate Rewards.
Pros:
Large new cardmember bonusHigh rewards in bonus categories1:1 point transfer rate to Chase’s travel partners1.25x reward value when redeemed through Chase Ultimate RewardsNo foreign transaction fee
Cons:
$95 annual feeNo introductory APRMinimum rewards in non-bonus categories
No foreign transaction fees: Unlike other Chase business cards, the Ink Business Preferred doesn’t charge foreign transaction fees.1:1 point transfer rate: Your rewards will transfer to Chase’s travel partners at a 1:1 rate. However, given the right transfer deal, you could find an even greater per-point value than 1 cent.Trip cancellation and interruption insurance: If you have a trip cut short or canceled altogether, you can get up to $5000 per person and $10 000 per trip reimbursed.Roadside dispatch: Chase offers roadside assistance in case you get a flat tire, dead battery, lockout, and more. They don’t pay for the cost of services, but they’ll connect you to the services you need.Rental car insurance: If you pay for your business rental car with your Chase card, you’ll get rental insurance to cover the vehicle’s actual cash value.Cell phone protection: You’ll get $600 worth of coverage per claim in the case of theft or damage to your cell phone or the phone of an employee on your cell phone plan,Purchase protection: Chase will cover your new purchases for 120 days for up to $50 000 ($10 000 per claim) for damage or theft.Extended warranty protection: Chase will extend the manufacturer’s warranty on your purchases by an additional year for eligible warranties of three years or less.Business monitoring: In addition to analyzing your business spending, you can also monitor your business with Fraud protection, purchase protection, account alerts, and more.Free employee cards: You can get employee cards at no additional cost when you open your Ink Business Preferred card. Employee spending helps you earn rewards on your account, and you can set spending limits for individual cards.
First, you’ll earn 3X points on each dollar you spend on travel. You can also redeem your points for 1.25 more when you use them to book travel through Chase Ultimate Rewards. These two perks combine for the potential to earn you thousands of dollars per year in travel rewards. The card is also well-suited to businesses who spend a lot on travel because of the other travel perks it offers, including the no foreign transaction fee and trip cancellation and interruption insurance. And by taking advantage of the 1:1 transfer rate to Chase’s travel partners, cardholders could find a per-point value of 1.5 cents or more. While this card is perfect for certain businesses, it’s not the right card for everyone. If your spending doesn’t typically fall into one of the card’s bonus categories, then you can probably find another card with higher overall rewards and without an annual fee. For businesses that don’t spend much in these categories, the annual fee probably isn’t worth the minimal rewards for other categories.
